Kin-Ei 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	74.08	65.21	99.65	104.69	139.09
Depreciation & Amortization	361.57	350.05	372.14	360.12	390.01
Other Amortization	-	17.59	-	-	-
Loss (Gain) From Sale of Assets	19.8	19.53	26.37	42.35	66.91
Asset Writedown & Restructuring Costs	-	-	-	22.13	-
Loss (Gain) From Sale of Investments	-	5.26	-	-	-
Other Operating Activities	12.2	-31.12	-76.91	10.34	15.88
Change in Accounts Receivable	-24.62	4.09	6.39	3.62	9.33
Change in Accounts Payable	-11.49	9.17	-24.56	-17.48	-49.53
Change in Other Net Operating Assets	-144.18	-173.98	-1.71	37.97	30.76
Operating Cash Flow	287.36	265.82	401.36	563.74	602.45
Operating Cash Flow Growth	8.11%	-33.77%	-28.80%	-6.42%	34.34%
Capital Expenditures	-71.95	-93.53	-173.89	-154.68	-51.59
Sale (Purchase) of Intangibles	-	-5.02	-18.33	-0.2	-48.37
Other Investing Activities	45.53	87.48	-79.37	29.23	-100.6
Investing Cash Flow	-227.54	-61.46	-151.44	-248.48	-143.01
Long-Term Debt Issued	300	350	700	-	-
Total Debt Issued	300	350	700	-	-
Short-Term Debt Repaid	-	-	-	-	-150
Long-Term Debt Repaid	-460.92	-520.92	-868.92	-237.92	-237.92
Total Debt Repaid	-460.92	-520.92	-868.92	-237.92	-387.92
Net Debt Issued (Repaid)	-160.92	-170.92	-168.92	-237.92	-387.92
Common Dividends Paid	-55.87	-55.89	-55.95	-84.01	-56.06
Other Financing Activities	-3.09	-3.32	-9.76	-10.81	-10.22
Financing Cash Flow	-219.88	-230.13	-234.63	-332.74	-454.2
Miscellaneous Cash Flow Adjustments	-	-0	-	-	-
Net Cash Flow	-160.06	-25.77	15.29	-17.48	5.24
Free Cash Flow	215.41	172.29	227.48	409.06	550.86
Free Cash Flow Growth	25.03%	-24.26%	-44.39%	-25.74%	146.00%
Free Cash Flow Margin	6.04%	4.85%	6.05%	10.56%	12.95%
Free Cash Flow Per Share	77.13	61.67	81.35	146.16	196.62
Cash Interest Paid	27.49	30.52	32.33	34.8	38.56
Cash Income Tax Paid	46.29	61.31	144.72	56.34	80.5
Levered Free Cash Flow	34.3	115.59	332.51	296.89	410.22
Unlevered Free Cash Flow	51.08	134.73	352.3	317.98	433.88
Change in Working Capital	-180.29	-160.71	-19.89	24.11	-9.44

Source: S&P Global Market Intelligence. Standard template. Financial Sources.