NEC CORP

CIK:0000072127|SEC Filings

Consolidated Statements of Profit or Loss - JPY (¥) ¥ in Millions	12 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Mar. 31, 2018
Profit or loss [abstract]
Revenue	¥ 3,095,234	¥ 2,913,446	¥ 2,844,447
Cost of sales	2,207,675	2,083,517	2,046,853
Gross profit	887,559	829,929	797,594
Selling, general and administrative expenses	752,690	743,021	729,855
Other operating expenses	7,260	29,128	3,889
Operating profit	127,609	57,780	63,850
Finance income	8,477	21,989	29,553
Finance costs	15,464	8,377	11,568
Share of profit of entities accounted for using the equity method	3,347	5,916	5,106
Profit before income taxes	123,969	77,308	86,941
Income taxes	11,250	25,378	26,784
Net profit	112,719	51,930	60,157
Net profit attributable to:
Owners of the parent	99,967	39,675	45,870
Non-controlling interests	12,752	12,255	14,287
Net profit	¥ 112,719	¥ 51,930	¥ 60,157
Earnings per share attributable to owners of the parent:
Basic earnings per share (JPY)	¥ 385.02	¥ 152.75	¥ 176.54
Diluted earnings per share (JPY)	¥ 385.01	¥ 152.75	¥ 176.54

Consolidated Statements of Cash Flows - JPY (¥) ¥ in Millions	12 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Mar. 31, 2018
Cash flows from operating activities
Profit before income taxes	¥ 123,969	¥ 77,308	¥ 86,941
Depreciation and amortization	166,360	99,745	96,037
Impairment loss	6,384	12,607	1,530
(Decrease) increase in provisions	(5,639)	15,101	(7,450)
Finance income	(8,477)	(21,989)	(29,553)
Finance costs	15,464	8,377	11,568
Share of profit of entities accounted for using the equity method	(3,347)	(5,916)	(5,106)
Decrease (increase) in trade and other receivables	(26,263)	(41,470)	12,244
(Increase) decrease in contract assets	11,911	(16,951)
(Increase) decrease in inventories	11,430	(16,716)	(16,115)
Increase in trade and other payables	1,653	4,415	17,036
Increase in contract liabilities	11,536	21,500
Other, net	(20,517)	(48,544)	(16,701)
Subtotal	284,464	87,467	150,431
Interest and dividends received	6,947	7,580	6,076
Interest paid	(9,052)	(6,350)	(5,764)
Income taxes paid	(20,496)	(24,462)	(20,762)
Net cash provided by operating activities	261,863	64,235	129,981
Cash flows from investing activities
Purchases of property, plant and equipment	(72,825)	(48,929)	(43,253)
Proceeds from sales of property, plant and equipment	6,903	4,283	6,334
Acquisitions of intangible assets	(16,372)	(11,764)	(10,134)
Purchases of available-for-sale financial assets			(2,336)
Purchase of equity instruments designated as measured at fair value through other comprehensive income	(1,820)	(7,375)
Proceeds from sales of available-for-sale financial assets			12,442
Proceeds from sales of equity instruments designated as measured at fair value through other comprehensive income	12,279	2,293
Purchase of shares of newly consolidated subsidiaries	(6,935)	(47,930)	(23,110)
Increase in cash flows resulting in change in scope of consolidation, net of consideration transferred	52	17	5
Proceeds from sales of shares of subsidiaries		20,230	228
Decrease in cash flows resulting in change in scope of consolidation, net of consideration transferred	(220)
Purchases of investments in associates or joint ventures	(376)	(1,148)	(471)
Proceeds from sales of investments in associates or joint ventures	2,098	13,816	21,997
Proceeds from collection of loans receivable	44	94	25,466
Other, net	(6,851)	(262)	(1,399)
Net cash used in investing activities	(84,023)	(76,675)	(14,231)
Cash flows from financing activities
Increase (decrease) in short-term borrowings, net	(4,349)	48,234	8,214
Proceeds from long-term borrowings	37,879	9,681	11,512
Repayments of long-term borrowings	(48,723)	(157,778)	(65,864)
Proceeds from issuance of bonds		50,011	100,000
Redemption of bonds			(40,000)
Repayments of lease liabilities	(53,620)
Proceeds from sales of interests in subsidiaries to non-controlling interests		18,810
Dividends paid	(18,177)	(15,586)	(15,586)
Dividends paid to non-controlling interests	(4,939)	(4,261)	(4,258)
Other, net	182	386	(1,257)
Net cash used in financing activities	(91,747)	(50,503)	(7,239)
Effect of exchange rate changes on cash and cash equivalents	(4,496)	(1,275)	(2,447)
Net increase (decrease) in cash and cash equivalents	81,597	(64,218)	106,064
Cash and cash equivalents, at beginning of the year	278,314	346,025	239,970
Decrease in cash and cash equivalents resulting from transfer to assets held for sale	(659)	(3,493)	(9)
Cash and cash equivalents, at end of the year	¥ 359,252	¥ 278,314	¥ 346,025

Consolidated Statements of Financial Position - JPY (¥) ¥ in Millions	Mar. 31, 2020	Mar. 31, 2019
Current assets
Cash and cash equivalents	¥ 359,252	¥ 278,314
Trade and other receivables	737,484	734,431
Contract assets	247,625	265,725
Inventories	199,326	234,621
Other financial assets	5,584	5,875
Other current assets	108,436	110,199
Subtotal	1,657,707	1,629,165
Assets held for sale	41,210	9,071
Total current assets	1,698,917	1,638,236
Non-current assets
Property, plant and equipment, net	558,077	408,821
Goodwill	182,334	188,183
Intangible assets, net	199,093	218,581
Investments accounted for using the equity method	74,092	72,421
Other financial assets	219,326	250,409
Deferred tax assets	165,183	150,511
Other non-current assets	26,232	36,060
Total non-current assets	1,424,337	1,324,986
Total assets	3,123,254	2,963,222
Current liabilities
Trade and other payables	460,881	482,596
Contract liabilities	195,152	184,059
Bonds and borrowings	154,992	158,678
Accruals	191,440	178,911
Lease liabilities	47,085
Other financial liabilities	14,995	16,169
Accrued income taxes	12,624	8,296
Provisions	59,412	58,448
Other current liabilities	55,153	61,985
Subtotal	1,191,734	1,149,142
Liabilities directly associated with assets held for sale	30,133	9,071
Total current liabilities	1,221,867	1,158,213
Non-current liabilities
Bonds and borrowings	364,828	388,128
Lease liabilities	108,514
Other financial liabilities	42,402	47,417
Net defined benefit liabilities	224,469	241,759
Provisions	12,369	24,803
Other non-current liabilities	34,282	43,221
Total non-current liabilities	786,864	745,328
Total liabilities	2,008,731	1,903,541
Equity
Share capital	397,199	397,199
Share premium	139,735	138,824
Retained earnings	436,361	354,582
Treasury shares	(4,157)	(3,547)
Other components of equity	(58,464)	(28,119)
Total equity attributable to owners of the parent	910,674	858,939
Non-controlling interests	203,849	200,742
Total equity	1,114,523	1,059,681
Total liabilities and equity	¥ 3,123,254	¥ 2,963,222