During fiscal 2011, operating activities provided net cash in the amount of 825,837 million yen, investing activities used net cash in the amount of 264,448 million yen, and financing activities used 397,728 million yen.
Free cash flow (the combined net cash flows from operating activities and investing activities) for fiscal 2011 was a positive 561,389 million yen (compared with a positive 390,888 million yen in fiscal 2010), for an increase of 170,501 million yen.
Cash and cash equivalents at the end of fiscal 2011 totaled 847,155 million yen, for a 159,473 million yen increase year on year.
Income before income taxes and minority interests totaled 480,613 million yen, while the main non-cash items of 224,937 million yen in depreciation and amortization and 62,688 million yen in amortization of goodwill were recorded as positive. Receivables – trade decreased (increase in cash flow) by 167,452 million yen, mainly due to sales of installment sales receivables at SOFTBANK MOBILE.
In addition, income taxes paid of 186,162 million yen were recorded, for a 146,971 million yen year-on-year increase. This was mainly because of increased income tax payments for BB Mobile's income tax under consolidated tax return and at Yahoo Japan, and includes 26,451 million yen of additional income taxes paid by Yahoo Japan in response to a correction and ruling notice it received.
Capital expenditures, mainly at telecommunications-related businesses, resulted in outlays of 208,553 million yen for property and equipment and intangibles. Purchases of marketable and investment securities resulted in 79,441 million yen in cash outlays.
Outlays were recorded in the amounts of 459,166 million yen for repayments of long-term debt, 213,565 million yen for the repurchase of minority interests and long-term debt, 155,063 million yen for the repayment of lease obligations, 105,508 million yen for the redemption of corporate bonds, and 75,000 million yen as payment for additional entrustment for debt assumption. The outlay for repurchase of minority interests and long-term debt represents the portion of the transaction with the Vodafone Group, carried out during fiscal 2011, which was paid to the Vodafone Group during fiscal 2011 in addition to acquisition-related expenses. On the other hand, proceeds from long-term debt raised 252,900 million yen and proceeds from issuance of bonds generated 233,936 million yen, in addition to 117,596 million yen recorded as proceeds from the sale and lease back of equipment newly acquired.
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