ASICS : The Fiscal Year Ended December 31, 2024

Summary of Consolidated Financial Statements

For the Fiscal Year Ended December 31, 2024

(Japan GAAP)

February 14, 2025

Name of the Company: ASICS Corporation

Listing Exchanges: Tokyo, Prime

Code No.: 7936

URL: https://corp. asics. com/en

President and COO, Representative Director: Mitsuyuki Tominaga

Date of the ordinary general shareholders' meeting: March 28, 2025

Date of scheduled payment of dividends: March 31 2025

Date of filing Securities Report: March 31, 2025

Financial Results Supplemental Materials: Yes

Financial Results Presentation Meeting: Yes (For institutional investors, analysts and press in Japan)

(Amounts less than one million yen are truncated)

1. Consolidated results for the fiscal year ended December 31, 2024 (January 1, 2024 to December 31, 2024)

(1) Consolidated business results (Accumulated)

(The percentages indicate the rates of increase or decrease compared with the corresponding period of the previous fiscal year)

	Net sales		Operating profit	Ordinary profit	Profit attributable to
		owners of parent
	MY	%	MY	%	MY	%	MY	%
FY ended December 31, 2024	678,526	18.9	100,111	84.7	92,601	82.8	63,806	80.9
FY ended December 31, 2023	570,463	17.7	54,215	59.4	50,670	63.9	35,272	77.4

(Note) Comprehensive income: FY ended December 31, 2024: ¥ 77,925 million (81.3 %) FY ended December 31, 2023: ¥ 42,983 million (29.4 %)

(Reference) The percentages of the increase (decrease) compared with the same period of the previous year excluding currency change:

Net sales 13.0%	Operating profit 76.9%
		Basic earnings	Diluted earnings			Ratio of	Ratio of
		Return on equity	ordinary profit	operating profit
		per share	per share			to total assets	to net sales
		Yen	Yen		%	%	%
FY ended December 31, 2024		88.30	88.17		29.1	18.8	14.8
FY ended December 31, 2023		48.13	48.09		18.8	11.4	9.5
(Reference) Equity in earnings of affiliates: FY ended December 31, 2024: － million	FY ended December 31, 2023: － million

(Note) The Company has carried out a 4-for-1 stock split for its common stock on the effective date of July 1, 2024. Basic earnings per share and diluted earnings per share are calculated as if this stock split had taken place at the beginning of the previous year.

(2) Consolidated financial position

	Total assets	Net assets	Equity-to-asset ratio	Net assets per share
	MY	MY	%	Yen
As of December 31, 2024	518,994	234,940	44.9	325.59
As of December 31, 2023	464,116	206,801	44.1	279.43

(Reference) Equity: As of December 31, 2024: ¥ 233,035 million As of December 31, 2023: ¥ 204,808 million

(Note) The Company has carried out a 4-for-1 stock split for its common stock on the effective date of July 1, 2024. Net assets per share are calculated as if this stock split had taken place at the beginning of the previous year.

(3) Consolidated cash flows

	Cash flows from	Cash flows from	Cash flows from	Cash and cash
	equivalents at
	operating activities	investing activities	financing activities
	end of year
	MY	MY	MY	MY
FY ended December 31, 2024	104,614	(7,558)	(84,322)	126,973
FY ended December 31, 2023	90,095	(4,640)	(40,252)	113,301

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2. Cash dividends

		Annual dividends per share		Total		Ratio of
						Payout ratio	dividends
	1st	2nd	3rd	Fiscal		cash dividends
(Record date)	Total	(Consolidated)	to net assets
quarter-end	quarter-end	quarter-end	year-end	(Total)		(Consolidated)
	Yen	Yen	Yen	Yen	Yen	MY	%	%
FY ended December	－	25.00	－	40.00	65.00	11,910	33.8	6.3
31, 2023
FY ended December	－	40.00	－	10.00	－	14,390	22.7	6.6
31, 2024
FY ending December	－	12.00	－	14.00	26.00		23.9
31, 2025 (Forecast)

(Note) The Company has carried out a 4-for-1 stock split for its common stock on the effective date of July 1, 2024. The dividends per share before 2nd quarter-end of the fiscal year ended December 31, 2024 are stated as the actual amount of the dividends prior to the stock split.

3. Forecast of consolidated business results for the fiscal year ending December 31, 2025 (January 1, 2025 to December 31, 2025)

(The full-year percentages indicate the rates of increase or decrease compared with the previous fiscal year)

	Net sales	Operating profit	Ordinary profit	Profit attributable to	Net income
	owners of parent	per share
	MY	%		MY	%	MY	%	MY	%	Yen
Full fiscal year	780,000	15.0	120,000	19.9	115,000	24.2	78,000	22.2	108.98
(Reference) The percentages of the increase (decrease) compared with the previous fiscal year excluding currency change:
Net sales	17.0%	Operating profit	22.4%
※ Notes

1. Changes in significant subsidiaries during the fiscal year (changes in specified subsidiaries that caused changes in the scope of consolidation): None
2. Changes in accounting policy, changes in accounting estimates, and changes in presentation due to revisions

• Changes in accounting policy to conform to revisions in accounting standards and others: None

• Changes in accounting policy adopted otherwise than in ① : None

③ Changes in accounting estimates: None

④ Changes in presentation due to revisions: None

1. Number of shares (of common stock) issued and outstanding

• Number of shares outstanding (including treasury shares) at the fiscal end:

December 31, 2024	759,482,236 shares
December 31, 2023	759,482,236 shares

• Number of treasury shares at the fiscal end:

December 31, 2024	43,740,506 shares
December 31, 2023	26,538,356 shares

• Average number of shares during the term:

FY ended December 31, 2024	722,618,209 shares
FY ended December 31, 2023	732,837,471 shares

(Notes)

1. For the number of shares used as the basis for the calculation of consolidated basic earnings per share, please refer to the page 28, "(6) Amounts per share."
2. The Company has carried out a 4-for-1 stock split for its common stock on the effective date of July 1, 2024. The number of shares outstanding (including treasury shares) at the fiscal end, the number of treasury shares at the fiscal end and the average number of shares during the term are calculated as if this stock split had taken place at the beginning of the previous year.

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(Reference) Summary of non-consolidated business results

Non-consolidated results for the fiscal year ended December 31, 2024 (January 1, 2024 to December 31, 2024)

(1) Non-consolidated business results (Accumulated)

(The percentages indicate the rates of increase or decrease compared with the corresponding period of the previous fiscal year)

	Operating revenue	Operating profit	Ordinary profit	Profit
	MY	%	MY	%		MY	%	MY	%
FY ended December 31, 2024	40,578	21.4	(2,977)	－	49,347	85.5	55,001	157.1
FY ended December 31, 2023	33,423	5.9	(1,851)	－	26,608	46.7	21,388	209.3
	Basic earnings	Diluted earnings
	per share		per share
		Yen		Yen
FY ended December 31, 2024		76.11		76.00
FY ended December 31, 2023		29.19		29.16

(Note) The Company has carried out a 4-for-1 stock split for its common stock on the effective date of July 1, 2024. Basic earnings per share and diluted earnings per share are calculated as if this stock split had taken place at the beginning of the previous year.

(2) Non-consolidated financial position

	Total assets	Net assets	Equity -to-asset ratio	Net assets per share
	MY	MY	%	Yen
As of December 31, 2024	169,017	60,793	35.8	84.58
As of December 31, 2023	172,688	58,627	33.8	79.62

(Reference) Equity: As of December 31, 2024: ¥ 60,538 million As of December 31, 2023: ¥ 58,355 million

(Note) The Company has carried out a 4-for-1 stock split for its common stock on the effective date of July 1, 2024. Net assets per share are calculated as if this stock split had taken place at the beginning of the previous year.

• Summary of Consolidated Financial Statements is not subjected to auditing procedures by independent auditors
• Explanation of appropriate use of business performance forecasts; other special items(Notes to the description about future, other)
  The performance forecasts above are estimated based on information available as of the date hereof. This may cause actual results to differ from stated projections due to changing business conditions or other factors. Please refer to page 11, "(4) Forecast for the fiscal year ending December 31, 2025" for the forecast of consolidated business results.
  (How to access supplemental materials on quarterly business results)
  The Company is scheduled to hold conference call on business results for press on Friday, February 14, 2025 and for investors on Monday, February 17, 2025. We plan to post the materials used in the meeting on the Company's website (https://corp.asics.com/en/investor_relations/library/financial_summary) on Friday, February 14, 2025.

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1. Qualitative information for consolidated business results

Forward-looking statements in the text are our estimation as of the end of December 31, 2024.

Race Through the Possibilities

In addition to ASICS believing in and supporting the potential of all people who take on challenges, we ourselves intend to be an entity that keeps on running without ever stopping. We believe that it is by trusting our own potential and continuing to run that the path will open up. In 2025, expressing this in the form of the slogan, ASICS will race through!

2024 in Review

We will begin by taking a look back at 2024 together.

Last year there was an abundance of major international sporting events, including Kobe 2024 Athletics World Championships, the Paris Olympic and Paralympic Games. These sporting events became a good opportunity to communicate the ASICS brand through the achievements of many athletes, and we think it likely that they were a catalyst that led to many people learning more about ASICS.

Viewing 2024 from the perspective of performance, operating profit was ¥100.1 billion, the first time it has reached this milestone. The operating margin was 14.8%, among the highest in the industry, which we believe shows that the ASICS brand has arrived at a completely different stage.

In terms of categories, it was a year in which we saw remarkable progress from SportStyle and Onitsuka Tiger, which have become the second pillar of the business after Performance Running. Both SportStyle and Onitsuka Tiger recorded net sales of approximately ¥100 billion. Net sales for SportStyle increased by 66.1% from the previous fiscal year, and the profit margin was 27.3% (up 7.0 points from the previous fiscal year), as the category continues to grow while improving profitability. SportStyle products have been covered by multiple media outlets, including GQ, ELLE, and HYPEBEAST, and the SportStyle brand expanded globally.

Net sales for Onitsuka Tiger were up 58.3% from the previous fiscal year, with a profit margin of 34.0% (up 8.5 points from the previous fiscal year), it had the highest profitability of all the categories. Onitsuka Tiger celebrated its 75th anniversary in 2024, and through the opening of Hotel Onitsuka Tiger on the Champs-Élysées in Paris, participation in Milan Fashion Week, and collaboration with other brands, we made even greater efforts than previously to communicate the brand at a global scale.

By region, profitability at ASICS Japan improved significantly, and the operating margin was 23.5% (up 12.7 points from the previous fiscal year). In addition to the strong sales to inbound visitors, we see these as the fruit of the selection and concentration approach that we have been taking. In the other major regions, net sales expanded by roughly 20% from the previous fiscal year and operating margins also improved, particularly in North America, where it rose by 7.0 points from the previous fiscal year, to 8.3%. In rapidly growing Thailand, Malaysia and Indonesia, net sales rose by more than 30% from the previous fiscal year, while in Vietnam, net sales grew significantly by in excess of 70%. We are very much looking forward to continued growth in these regions.

In November we also revised upward our financial targets for the Mid-Term Plan 2026 ("MTP 2026"), and are now aiming for 2026 figures of at least ¥130.0 billion for operating profit (against a previous target of ¥80.0 billion), an operating margin of at least 17% (previously around 12%), and ROA of around 15% (previously around 10%).

In the update of Mid-Term Plan 2026 in November 2024, we announced the establishment of ASICS Innovation Campus (tentative name) as an initiative to further strengthen innovation. We will focus on our long-term strategy of performance x footwear, and will continue to prepare with the aim of using it as a collaboration hub for internal and external parties on a global scale.

The number of members of OneASICS, our membership program, reached approximately 17.6 million as of December 2024. In December, the official ASICS app was released in Japan ahead of other countries, and it has greatly improved convenience by providing information on popular products and allowing members to earn points by showing their member barcode at company-owned stores. As a future initiative, we will strengthen the functions to provide personalized information and notification on recommended items through consistent data linkage in OneASICS, and further improve the brand experience by initiatives such as holding exclusive events for app members.

As for the increased investments we have been making in human capital, in 2024 we introduced profit-share style bonuses. The first such distribution is planned for March 2025, and we expect non-managerial employees to be paid approximately ¥500 thousand per person. This is a mechanism by which all employees globally receive part of profits that exceed the cost of capital for ASICS, promoting management that makes meaningful returns of profit to employees, and also encourages them to feel that they have a personal stake in the cost of capital.

The capital policy for 2024 is as follows: As we make the ASICS brand more widely known globally and strengthen its position, we

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have recognized the necessity of proceeding to the next stage in terms of capital and finance, and have begun working on the sale of all the cross-shareholdings of the ASICS Group. We have approached financial institutions and others who hold the shares of ASICS as cross-shareholdings, with regard to the possibility of selling shares in parallel, and conducted a secondary offering of around ¥200 billion of shares in July.

The Company has resolved to once again explicitly seek shared recognition among management of the fact that ASICS is part of the global capital market, and confront the issue head-on. We choose of our own accord to change our shareholder structure and to engage in management that is exposed to pressure from capital markets at all times. Management characterized by even a greater degree of transparency and tension than before is being demanded, and at times the capital markets may express harsh opinions. However, our goal is to use such expectations and feedback as the driving force, the propulsion for further growth at ASICS.

Partly because we engaged in the capital policy described above, the number of investors we met through IR meetings grew significantly from 906 in 2023 to 1,860 (*total for the year, includes the number of investors attending small meetings and other events), creating numerous opportunities for communication with investors and analysts. We have also implemented repurchase of treasury shares twice with a total value of ¥35.0 billion, conducted a stock split, and expanded shareholder benefits accordingly. In terms of shareholder returns, the year-end dividend will be ¥10.00, and the annual dividend for 2024 will be ¥20.00, a record high (calculated on a post-split basis).

This varied range of initiatives has been widely recognized, with ASICS receiving the Best IR Award and the Empathy-Evoking IR Award from the Japan Investor Relations Association for the second consecutive year, and the secondary offering winning the "Deal of the Year 2024 (Equity Category)" from Nikkei Veritas for the best deal. The stock has also been incorporated into a series of stock indices, including the MSCI Japan Standard Index, the JPX Nikkei Index 400, and the JPX Prime 150 Index, but now that ASICS has reached the next stage, it will be necessary for the company to achieve further growth in order to meet the expectations of the capital markets.

One of the other developments in 2024 was the winning of the DX Grand Prix 2024 in recognition that we use digital management to strengthen the business model. Also, we were selected for inclusion in the Dow Jones Sustainability Asia/Pacific Index ESG investment index for the 10th consecutive year, and also certified as a "Climate Change A List (highest rating)" company for the first time in a survey conducted by CDP, an international non-profit organization that operates an environmental information disclosure system. In terms of the products, NIMBUS MIRAI, which enabled its materials to be recycled, won awards such as the Good Design Best 100 and the Nikkei Excellent Product and Service Award 2024 as the Grand Prize. Achievements in this year show that we received recognition in a wide range of fields.

Major initiatives in 2025

The share taken by ASICS shoes among runners in each of the year-end and New Year's "Ekiden" relay races is increasing steadily, and we feel that the product development and brand communications in which we have engaged with athletes are bearing fruit. In 2025 we will continue with initiatives that reflect our unique qualities, aiming to win No.1 market share in running shoes in North America, in addition to Europe and Japan, where we already hold the top spot. As an official partner of the World Athletics Championships Tokyo 25, we plan not only to provide support to athletes but also to implement initiatives to broaden awareness and understanding of the ASICS brand.

In addition, as a part of the initiatives of the T Project, which started in May 2024 under the direct control of COO, ASICS Tennis Summit was held in Australia in January 2025. It is an event that communicates the ASICS brand and tennis business strategy, and we presented the latest tennis shoe, GEL-RESOLUTION X. In the talk session with athletes, we also communicated the product development process, including feedback from athletes. We will continue to grow our tennis category by focusing on product development that reflects the views of athletes.

As we disclosed in July 2024, we plan to establish the general incorporated foundation "ASICS Foundation" in April 2025.

We have been discussing this with many of our shareholders since last year and preparing while getting their understanding. The foundation will be established after receiving approval at the general meeting of shareholders. We aim to improve accessibility to sports by globally providing support to organizations that provide support to people in socially or economically difficult situations, with the aim of addressing social issues related to exercise and sports and contributing to the physical and mental health of as many people as possible.

The potential dilution of shares due to the establishment of the foundation has already been addressed through the second repurchase of treasury shares implemented from August 2024. In addition to this, the company has announced a repurchase of treasury shares of up to 20 billion yen and 7 million shares at the same time as the announcement of the financial results in 2024. In addition to the treasury

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shares acquired in 2024, the company has also resolved to cancel 25 million treasury shares, which exceed the total number of shares including the treasury shares to be acquired in 2025.

2025 is the second year of MTP 2026. We will accelerate our transformation into a Global Integrated Enterprise, and aim for further growth. While believing in and supporting the potential of all people who take on challenges, we ourselves will keep running. Please look forward to watching how ASICS fulfills its potential into the future.

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(1) Explanation on business results

(Millions of yen)

	FY2023	FY2024	Increase	Increase %	Increase %
	excl. currency
	Jan 1 to Dec 31	Jan 1 to Dec 31	(Decrease)	(Decrease %)
	change
Net sales	570,463	678,526	108,063	18.9	13.0
Gross profit	296,896	378,878	81,982	27.6	21.2
Operating profit	54,215	100,111	45,896	84.7	76.9
Ordinary profit	50,670	92,601	41,931	82.8	－
Profit attributable	35,272	63,806	28,533	80.9	－
to owners of parent

1. Net sales
   Net sales increased 18.9% to ¥678,526 million due to the strong sales in all categories, as well as due to the fluctuation in exchange rate.
2. Gross profit
   Gross profit increased 27.6% to ¥378,878 million due to the impact of the increase in net sales described above.
3. Operating profit
   Operating profit increased 84.7% to ¥100,111 million due to the impact of the increase in net sales and gross profit margin in all categories and regions.
4. Ordinary profit
   Ordinary profit increased 82.8% to ¥92,601 million due to the impact of the increase in net sales and profit described above.
5. Profit attributable to owners of parent
   Profit attributable to owners of parent increased 80.9% to ¥63,806 million mainly due to the recording of a gain on sale of investment securities following the sale of cross-shareholdings, as well as the impact of the increase in net sales and profit described above.

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Business results by category are as follows.

							(Millions of yen)
			FY2023	FY2024	Increase	Increase %	Increase %
Category		excl. currency
	Jan 1 to Dec 31	Jan1 to Dec 31	(Decrease)	(Decrease %)
			change
Performance	Net sales	285,929	326,936	41,007	14.3	7.6
Running	Category profit	50,018	70,726	20,708	41.4	34.6
Core Performance	Net sales	72,154	78,620	6,466	9.0	4.3
Sports	Category profit	12,810	14,104	1,293	10.1	5.9
Apparel and	Net sales	36,185	38,065	1,880	5.2	0.2
Equipment	Category profit	1,001	4,340	3,338	333.2	308.7
SportStyle	Net sales	59,257	98,425	39,168	66.1	56.2
Category profit	12,047	26,876	14,829	123.1	111.2
Onitsuka Tiger	Net sales	60,304	95,439	35,135	58.3	53.1
Category profit	15,360	32,435	17,075	111.2	106.5

1. Performance Running
   Net sales increased 14.3% to ¥326,936 million due to the strong sales in all regions.
   Category profit increased 41.4% to ¥70,726 million mainly due to an improvement in gross profit margin, as well as due to the impact of an increase in net sales described above.
2. Core Performance Sports
   Net sales increased 9.0% to ¥78,620 million due to the strong sales in Europe region and Southeast and South Asia region. Category profit increased 10.1% to ¥14,104 million mainly due to an improvement in gross profit margin, as well as due to the impact of an increase in net sales described above.
3. Apparel and Equipment
   Net sales increased 5.2％ to ¥38,065 million mainly due to the strong sales in Europe region.
   Category profit increased significantly 333.2％ to ¥4,340 million mainly due to an improvement in gross profit margin.
4. SportStyle
   Net sales increased 66.1％ to ¥98,425 million due to the strong sales in all regions
   Category profit increased significantly 123.1％ to ¥26,876 million mainly due to the impact of the increase in net sales described above.
5. Onitsuka Tiger
   Net sales increased 58.3% to ¥95,439 million due to the strong sales in all regions.
   Category profit increased significantly 111.2% to ¥32,435 million mainly due to an improvement in gross profit margin, as well as due to an increase in net sales described above.

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Business results by reportable segments are as follows.

(Millions of yen)

Reportable		FY2023	FY2024	Increase	Increase %	Increase %
	excl. currency
Segments		Jan 1 to Dec 31	Jan 1 to Dec 31	(Decrease)	(Decrease %)
	change
Japan	Net sales	135,849	166,432	30,582	22.5	－
Segment profit	12,796	27,673	14,876	116.3	－
North America	Net sales	114,617	135,040	20,422	17.8	9.6
Segment profit	1,440	11,274	9,833	682.5	646.1
Europe	Net sales	147,982	179,388	31,406	21.2	12.8
Segment profit	14,189	25,290	11,100	78.2	66.3
Greater China	Net sales	77,615	100,497	22,882	29.5	22.1
Segment profit	13,107	19,335	6,228	47.5	39.7
Oceania	Net sales	38,460	42,986	4,526	11.8	4.5
Segment profit	6,241	7,634	1,393	22.3	14.3
Southeast and	Net sales	27,122	37,321	10,198	37.6	29.1
South Asia	Segment profit	4,971	7,414	2,443	49.2	39.4
Others	Net sales	49,843	44,840	(5,002)	(10.0)	(11.3)
Segment profit	4,400	6,541	2,140	48.6	46.2

1. Japan region
   Net sales increased 22.5% to ¥166,432 million due to the strong sales of the SportStyle category and the Onitsuka Tiger category.
   Segment profit increased significantly 116.3% to ¥27,673 million mainly due to an improvement in gross margin, as well as due to the impact of the increase in net sales described above.
2. North America region
   Net sales increased 17.8% to ¥135,040 million due to the strong sales of the Performance Running category and the SportStyle category.
   Segment profit increased significantly 682.5％ to ¥11,274 million mainly due to an improvement in gross profit margin, as well as due to the impact of the increase in net sales described above.
3. Europe region
   Net sales increased 21.2% to ¥179,388 million due to the strong sales in all categories.
   Segment profit increased 78.2% to ¥25,290 million mainly due to an improvement in gross profit margin, as well as due to the impact of an increase in net sales described above.
4. Greater China region
   Net sales increased 29.5% to ¥100,497 million due to the strong sales in all categories.
   Segment profit increased 47.5% to ¥19,335 million mainly due to the impact of an increase in net sales described above.
5. Oceania region
   Net sales increased 11.8% to ¥42,986 million due to the steady sales in all categories.
   Segment profit increased 22.3% to ¥7,634 million mainly due to the impact of an increase in net sales described above.
6. Southeast and South Asia regions
   Net sales increased 37.6% to ¥37,321 million due to the strong sales in all categories.
   Segment profit increased 49.2% to ¥7,414 million mainly due to the impact of the increase in net sales described above.
7. Other regions
   Net sales decreased 10.0% to ¥44,840 million due to the impact of the sale of Haglöfs AB in December 2023 and its exclusion from the scope of consolidation.
   Segment profit increased 48.6% to ¥6,541 million mainly due to the strong sales in Latin America.

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1. Explanation on financial position
   As for the consolidated financial position as of December 31, 2024, total assets increased 11.8% from the end of the previous fiscal year to ¥518,994 million, total liabilities increased 10.4% from the end of the previous fiscal year to ¥284,054 million and total net assets increased 13.6% from the end of the previous fiscal year to ¥234,940 million.
2. 1. Current assets
      Current assets increased 14.1% to ¥369,143 million mainly due to increases in cash and deposits, and merchandise and finished goods.
   2. Non-currentassets
      Non-current assets increased 6.6% to ¥149,851 million mainly due to increases in software and right of use assets, despite the decrease in investment securities.
   3. Current liabilities
      Current liabilities increased 35.6% to ¥194,739 million mainly due to an increase in notes and accounts payable-trade.
   4. Non-currentliabilities
      Non-current liabilities decreased 21.4% to ¥89,314 million mainly driven by reclassification of bonds payable and long-term borrowings from non-current liabilities to current liabilities due to redemption and repayment date within one year.
   5. Net assets
      Net assets increased 13.6% to ¥234,940 million mainly due to an increase in retained earnings, despite the decrease due to purchase of treasury shares.
3. Overview of cash flows
   As for cash flows as of December 31, 2024, cash and cash equivalents (hereinafter, "cash") increased ¥13,671 million from the end of the previous fiscal year to ¥126,973 million.
   The respective cash flow positions and main factors behind the changes are as follows.
4. 1. Cash flows from operating activities
      Net cash provided by operating activities was ¥104,614 million, an increase of ¥14,518 million compared with the previous fiscal year.
      Major sources of cash were ¥93,244 million from profit before income taxes, while major uses of cash were ¥18,834 million for income taxes paid.
   2. Cash flows from investing activities
      Net cash used in investing activities was ¥7,558 million, an increase of ¥2,918 million compared with the previous fiscal year. Major sources of cash were ¥11,668 million from sales and redemption of investment securities, and major uses of cash were ¥12,664 million for purchases of intangible assets and ¥11,375 million for purchases of property, plant and equipment.
   3. Cash flows from financing activities
      Net cash used in financing activities was ¥84,322 million, an increase of ¥44,069 million compared with previous fiscal year. Major uses of cash were ¥35,014 million for repurchase of treasury shares, ¥20,000 million for redemption of bonds, ¥14,542 million for cash dividends paid, and ¥14,468 million for repayment of lease obligations.

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