| 2022/3 | 2023/3 |
Cash flows from operating activities | | |
Profit before income taxes | 4,441,111 | 7,645,743 |
Depreciation | 182,339 | 262,498 |
Increase (decrease) in allowance for doubtful accounts | 939 | 1,952 |
Increase (decrease) in provision for bonuses | 79,778 | 92,192 |
Increase (decrease) in retirement benefit liability | -1,564 | -2,049 |
Increase (decrease) in provision for loss on orders received | 117,249 | -117,249 |
Increase (decrease) in provision for share awards | 2,972 | -19,299 |
Interest and dividend income | -1,639 | -1,339 |
Interest expenses | 4,231 | 3,574 |
Loss (gain) on sale of investment securities | -939 | - |
Decrease (increase) in trade receivables | -4,607,645 | - |
Decrease (increase) in trade receivables and contract assets | - | -6,977,687 |
Decrease (increase) in inventories | 387,717 | -5,371 |
Increase (decrease) in advances received | - | 1,569 |
Increase (decrease) in accounts payable - other | 1,030,664 | 312,023 |
Increase (decrease) in accrued expenses | 337,298 | -125,570 |
Increase (decrease) in accrued consumption taxes | -109,058 | -478,105 |
Increase (decrease) in contract liabilities | - | 15,681 |
Other, net | 118,043 | -25,557 |
Subtotal | 1,981,497 | 583,006 |
Interest and dividends received | 1,639 | 1,339 |
Interest paid | -4,483 | -3,989 |
Income taxes paid | -1,001,986 | -1,791,777 |
Income taxes refund | 221 | 2,060 |
Net cash provided by (used in) operating activities | 976,887 | -1,209,361 |
Cash flows from investing activities | | |
Purchase of investment securities | -2,843 | -2,878 |
Proceeds from sale of investment securities | 1,550 | - |
Purchase of property, plant and equipment | -276,461 | -138,165 |
Purchase of intangible assets | -135,245 | -56,857 |
Payments for asset retirement obligations | -3,282 | -12,142 |
Proceeds from withdrawal of time deposits | 100,000 | - |
Proceeds from collection of loans receivable from employees | 1,000 | - |
Payments of leasehold and guarantee deposits | -133,050 | -167,416 |
Proceeds from lease and gurantee deposits | 166,277 | 58,141 |
Net cash provided by (used in) investing activities | -282,055 | -319,318 |
Cash flows from financing activities | | |
Net increase (decrease) in short-term borrowings | -38,000 | - |
Proceeds from long-term borrowings | 500,000 | 400,000 |
Repayments of long-term borrowings | -283,734 | -284,960 |
Redemption of bonds | -60,000 | -30,000 |
Purchase of treasury shares | - | -191 |
Proceeds from disposal of treasury shares | 151 | - |
Proceeds from issuance of share acquisition rights | 20,300 | - |
Dividends paid | -236,937 | -473,594 |
Purchase of shares of subsidiaries not resulting in change in scope of consolidation | - | -15,962 |
Other, net | -378 | -291 |
Net cash provided by (used in) financing activities | -98,598 | -405,000 |
Net increase (decrease) in cash and cash equivalents | 596,233 | -1,933,680 |
Cash and cash equivalents at beginning of period | 6,435,394 | 7,031,627 |
Cash and cash equivalents at end of period | 7,031,627 | 5,097,947 |