Airtech Japan Cash Flow Statement

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

Millions JPY. Fiscal year is Jan - Dec.

Fiscal Year	FY 2010	FY 2009	FY 2008	FY 2007	FY 2006
Period Ending	Dec '10 Dec 31, 2010	Dec '09 Dec 31, 2009	Dec '08 Dec 31, 2008	Dec '07 Dec 31, 2007	Dec '06 Dec 31, 2006
Net Income	28.68	-93.61	257.12	408.25	559.33
Depreciation & Amortization	86.12	71.73	75.14	80.24	77
Other Amortization	0.22	-	-	-	-
Loss (Gain) From Sale of Investments	-	-	-	-83.46	-22.48
Other Operating Activities	34.42	-116.04	-5.98	-177.01	61.74
Change in Accounts Receivable	-518.91	1,480	258.05	164.89	-114.81
Change in Inventory	45.59	287.85	-104.52	48.24	-270.96
Change in Accounts Payable	212.72	-1,283	29.13	-6.42	109.99
Change in Other Net Operating Assets	214.8	-228.15	29.21	71.94	92.39
Operating Cash Flow	103.64	118.7	538.15	506.68	492.19
Operating Cash Flow Growth	-12.69%	-77.94%	6.21%	2.94%	7.95%
Capital Expenditures	-51.27	-1.65	-86.06	-35.43	-306.83
Investment in Securities	-1.33	-5.8	-2.7	42.84	-64.73
Other Investing Activities	-0.2	2.42	2.42	-1.47	2
Investing Cash Flow	-52.81	-5.04	-86.34	5.94	-369.56
Short-Term Debt Issued	470	470	470	470	570
Long-Term Debt Issued	97.49	97.49	100	-	-
Total Debt Issued	567.49	567.49	570	470	570
Short-Term Debt Repaid	-470	-470	-470	-470	-570
Long-Term Debt Repaid	-142.98	-142.98	-36.78	-51.29	-60.48
Total Debt Repaid	-612.98	-612.98	-506.78	-521.29	-630.48
Net Debt Issued (Repaid)	-45.49	-45.49	63.22	-51.29	-60.48
Issuance of Common Stock	-	-	-	-	2.56
Common Dividends Paid	-44.83	-179.57	-179.37	-179.99	-179.77
Other Financing Activities	-10.18	-3.4	0.07	-19.28	-0.1
Financing Cash Flow	-100.51	-228.46	-116.08	-250.56	-237.78
Foreign Exchange Rate Adjustments	-3	-0.83	-2.44	0.38	0.77
Miscellaneous Cash Flow Adjustments	-0	-0	-0	0	-
Net Cash Flow	-52.68	-115.62	333.29	262.43	-114.38
Free Cash Flow	52.37	117.04	452.09	471.25	185.36
Free Cash Flow Growth	-55.26%	-74.11%	-4.07%	154.24%	123.78%
Free Cash Flow Margin	0.80%	2.16%	5.06%	4.90%	1.93%
Free Cash Flow Per Share	5.83	13.04	50.36	52.42	20.60
Cash Interest Paid	9.75	10.88	8.92	8.28	7.46
Cash Income Tax Paid	6.73	81.32	233.11	456.68	324.03
Levered Free Cash Flow	1.97	111.31	375.91	432.08	155.74
Unlevered Free Cash Flow	9.31	119.77	381.58	437.53	162.01
Change in Working Capital	-45.8	256.62	211.87	278.66	-183.39

Updated Mar 25, 2011. Source: S&P Global Market Intelligence. Standard template. Financial Sources.