(Millions of Yen)

Fiscal Year ended
31 March 2017
Fiscal Year ended
31 March 2018
Net cash from (used in) operating activities (17,952) (33,235)
Net cash (used in) from investing activities 2,437 7,881
Net cash from financing activities 159,467 74,575
Net (decrease) increase in cash and cash equivalents 143,952 49,221
Cash and cash equivalents at the beginning of the year 248,050 391,572
Effect of changes in exchange rate on cash and cash equivalents (430) (3,645)
Cash and cash equivalents at the end of the year 391,572 437,148

* Amounts are rounded off to the nearest million Japanese yen.

Cash Flow Status

Analysis of Financial Conditions for the Fiscal Year

Cash and cash equivalents at the end of the period

As at March 31, 2018, total assets amounted to ¥4,535,964 million and increased by ¥685,963 million from total assets of ¥3,850,001 million as at March 31, 2017. The Group’s equity increased by ¥78,300 million to ¥493,824 million from the fiscal year ended March 31, 2017. As at March 31, 2018, the Group’s cash and cash equivalents amounted to ¥437,148 million and increased by ¥45,576 million from that of ¥391,572 million as at March 31, 2017. The changes of cash flows for each activity and the reasons for changes are as follows:

Operating Cash Flows

Net cash from used in operating activities

Cash flows from operating activities amounted to ¥33,235 million in net cash outflows (¥17,952 million in net cash outflows for the fiscal year ended March 31, 2017). The net cash outflows were primarily due to a ¥93,182 million cash outflow from an increase in accounts receivables and other receivables and a ¥79,465 million cash outflow from an increase in operational investment securities, despite a ¥71,810 million cash inflow from profit before income tax expense and a ¥49,015 million cash inflow from an increase in customer deposits in the banking business.

Investing Cash Flows

Net cash used in from investing activities

Cash flows from investing activities amounted to ¥7,881 million in net cash inflows (¥2,437 million in net cash inflows for the fiscal year ended March 31, 2017). The net cash inflows were primarily due to a ¥48,514 million cash inflow from proceeds from sales or redemption of investment securities, despite a ¥35,555 million cash outflow from purchases of investment securities.

Financing Cash Flows

Net cash from financing activities

Cash flows from financing activities amounted to ¥74,575 million in net cash inflows (¥159,467 million in net cash inflows for the fiscal year ended March 31, 2017). The net cash inflows were primarily due to a ¥140,025 million cash inflow from proceeds from issuance of bonds payable and a ¥40,336 million cash inflow from proceeds from long-term loans payable, despite a ¥37,039 million cash outflow from redemption of bonds payable, a ¥31,180 million cash outflow from decrease in short-term loans payable and ¥28,261 million cash outflow from repayment of long-term loans payable.