Maruchiyo Yamaokaya Cash Flow Statement

Financials in millions JPY. Fiscal year is February - January.

Millions JPY. Fiscal year is Feb - Jan.

Fiscal Year	FY 2011	FY 2010	FY 2009	FY 2008	FY 2007
Period Ending	Jan '11 Jan 31, 2011	Jan '10 Jan 31, 2010	Jan '09 Jan 31, 2009	Jan '08 Jan 31, 2008	Jan '07 Jan 31, 2007
Net Income	115.56	207.06	118.31	20.27	85.63
Depreciation & Amortization	448.12	327.65	292.04	267.63	230.94
Other Amortization	-	7.96	-	-	6.54
Loss (Gain) From Sale of Assets	4.77	15.11	13.37	38.78	2.17
Asset Writedown & Restructuring Costs	57.77	2.99	18.3	-	-
Stock-Based Compensation	3.72	2.48	-	-	-
Other Operating Activities	-95.01	-4.19	90.02	-21.21	-61.59
Change in Accounts Receivable	-0.05	-0.19	-	-	-
Change in Inventory	-18.56	-22.8	-10.09	5.35	-20.59
Change in Accounts Payable	9.34	-16.29	34.12	-6.77	24.54
Change in Other Net Operating Assets	-94.49	-5.75	33.48	34.72	37.13
Operating Cash Flow	431.17	514.03	589.56	338.78	304.77
Operating Cash Flow Growth	-16.12%	-12.81%	74.03%	11.16%	-8.28%
Capital Expenditures	-919.32	-594.89	-392.76	-236.38	-885.89
Sale of Property, Plant & Equipment	6.63	0.28	0.05	-	2
Sale (Purchase) of Intangibles	-9.52	-1.97	-4.97	-4.28	-7.54
Investment in Securities	-16.21	-1.2	-3.78	-1.2	-1.2
Other Investing Activities	-109.16	-98.83	-56.09	15.75	-0
Investing Cash Flow	-1,048	-696.62	-457.54	-226.11	-892.63
Short-Term Debt Issued	11	7.6	12.4	-	6
Long-Term Debt Issued	1,450	934	730	600	800
Total Debt Issued	1,461	941.6	742.4	600	806
Short-Term Debt Repaid	-	-	-	-26	-
Long-Term Debt Repaid	-1,031	-740.87	-647.25	-591.47	-523.57
Total Debt Repaid	-1,031	-740.87	-647.25	-617.47	-523.57
Net Debt Issued (Repaid)	430.48	200.73	95.15	-17.47	282.43
Issuance of Common Stock	-	-	-	-	291.06
Repurchase of Common Stock	-17.55	-	-	-	-
Common Dividends Paid	-41.15	-40.79	-41.01	-40.79	-
Other Financing Activities	-0	-0	-0	-	-0
Financing Cash Flow	371.78	159.94	54.13	-58.26	573.49
Miscellaneous Cash Flow Adjustments	0	0	-	-0	-
Net Cash Flow	-244.62	-22.65	186.16	54.41	-14.37
Free Cash Flow	-488.15	-80.86	196.8	102.39	-581.11
Free Cash Flow Growth	-	-	92.20%	-	-
Free Cash Flow Margin	-6.14%	-1.12%	2.80%	1.59%	-9.75%
Free Cash Flow Per Share	-24.83	-4.08	9.96	5.18	-29.57
Cash Interest Paid	47.75	40.42	39.27	41.7	32.86
Cash Income Tax Paid	199.62	167.81	16.16	58.09	152.55
Levered Free Cash Flow	-472.36	-70.15	140.68	17.97	-629.56
Unlevered Free Cash Flow	-444.47	-46.11	166.48	47.03	-601.54
Change in Working Capital	-103.76	-45.04	57.52	33.3	41.08

Updated Mar 11, 2011. Source: S&P Global Market Intelligence. Standard template. Financial Sources.