Consolidated Statements of Cash Flows

HOKURIKU ELECTRIC POWER COMPANY AND CONSOLIDATED SUBSIDIARIES
For the Years Ended March 31, 2017 and 2016

Millions of yen / Millions of yen / Thousands of U.S. dollars

201720162017
Cash flows from operating activities:
 Profit before income taxes¥2,668¥23,234$23,785
 Depreciation and amortization64,84267,215577,918
 Impairment losses on noncurrent assets840287,495
 Decommissioning costs of nuclear power units2,6672,67823,775
 Loss on disposal of property,plant and equipment2,4832,08522,134
 Amortization of nuclear fuel in processing5781,1565,154
 Decrease (increase) in fund for reprocessing of irradiated nuclear fuel2,6624,11223,726
 Increase (decrease) in liability for retirement benefits4686574,174
 Decrease (increase) in asset for retirement benefits660(6,795)5,891
 Increase (decrease) in provision for reprocessing of irradiated nuclear fuel(3,414)(4,115)(30,432)
 Increase (decrease) in provision for reprocessing of irradiated nuclear fuel without specific plans1222341,088
 Increase (decrease) in contribution for accured reprocessing of irradiated nuclear fuel(6,232)-(55,546)
 Increase (decrease) in reserve for fluctuation in water levels(656)4,807(5,852)
 Interest and dividends income(1,217)(1,138)(10,849)
 Interest expense10,42711,26592,938
 Decrease (increase) in notes and accounts receivable-trade(1,448)(1,754)(12,911)
 Decrease (increase) in inventories(4,791)3,071(42,700)
 Increase (decrease) in notes and accounts payable-trade2,704(7,209)18,485
 Increase (decrease) in accrued enterprise taxes and accrued consumption taxes766(7,761)6,831
 Other, net5,382(1,427)47,974
 Subtotal78,88590,347703,080
 Interest and cash dividends received1,2691,17111,310
 Interest expenses paid(10,715)(11,532)(95,502)
 Income taxes paid(5,947)(10,255)(53,007)
 Income taxes refund5661500
 Net cash provided by operating activities63,54769,792566,381
Cash flows from investing activities
 Purchase of property, plant and equipment(105,163)(86,728)(937,287)
 Proceeds from contribution received for construction1,37986812,298
 Proceeds from sales of property, plant and equipment1675291,496
 Increase in long-term investments(33,465)(16,327)(298,268)
 Proceeds from long-term investments32,82916,651292,594
 Net cash used in investing activities(104,252)(85,006)(929,165)
Cash flows from financing activities
 Proceeds from issuance of bonds70,00070,000623,885
 Redemption of bonds(50,475)(60,000)(449,866)
 Proceeds from long-term loans payable49,72559,000443,186
 Repayment of long-term loans payable(32,275)(24,180)(332,224)
 Net increase (decrease) in short-term loans payable136(61)1,212
 Proceeds from sales of treasury stock1116
 Purchase of treasury stock(10)(20)(95)
 Cash dividends paid(10,443)(10,451)(93,078)
 Dividends paid to non-controlling interests(162)(139)(1,444)
 Other, net(174)(185)(1,550)
 Net cash provided by (used in) financing activities21,32233,962190,040
Net increase (decrease) in cash and cash equivalents(19,381)18,748172,744
Cash and cash equivalents at beginning of the year193,128174,3791,721,286
Cash and cash equivalents at end of the year (Note 8)¥173,746¥193,128$1,548,542

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