(Translation of report file with Tokyo Stock Exchange on March 30, 2021)
(Correction/Numerical Data Correction)
Partial Corrections to the Consolidated Business Performance for Fiscal Year Ending
December 31, 2020 (FY2020) and Summary Report of Consolidated Business
Performance for the Fiscal Year 2020
Toyo Tire Corporation hereby gives notice of partial corrections to the Consolidated Business Performance for Fiscal Year Ending December 31, 2020 (FY2020) and Summary Report of Consolidated Business Performance for the Fiscal Year 2020, which were announced on February 15, 2021.
1. Reasons for correction
After the announcement of the Consolidated Business Performance for Fiscal Year Ending December 31, 2020 (FY2020) and Summary Report of Consolidated Business Performance for the Fiscal Year 2020, it has come to our attention that some numbers in the Consolidated Statements of Cash Flows were erroneous. These numbers have been corrected.
2. Details of correction
Please see the following pages.
<Consolidated Business Performance for Fiscal Year Ending December 31, 2020 (FY2020) Page 17> (For Reference) Cash Flows
【Before the revision】
Net Cash Provided by (Used in) Operating Activities FY2020 51.8 billions of yen
Free Cash Flows
FY2020 23.9 billions of yen
【After the revision】
Net Cash Provided by (Used in) Operating Activities | FY2020 | 53.8 billions of yen |
Free Cash Flows | FY2020 | 25.9 billions of yen |
〈Summary Report of Consolidated Business Performance for the Fiscal Year 2020〉 Consolidated Statements of Cash Flows
【Before the revision】
Previous fiscal year | Current fiscal year | |
FY2019 (From January 1, 2019 to December 31, 2019) | FY2020 (From January 1, 2020 to December 31, 2020) | |
Cash flows fromoperating activities Income before income taxes and minority interests Depreciation and amortization Settlement received Increase (decrease) in net defined benefit liability Interest and dividends income Interest expenses Foreign exchange losses (gains) Stock issuance cost Equity in (earnings) losses of affiliates Loss (gain) on sales of investment securities Loss on retirement of noncurrent assets Impairment loss Loss on product compensation Loss on provision for product compensation Loss on liquidation of subsidiaries and associates Decrease (increase) in notes and accounts receivable-trade Decrease (increase) in inventories Increase (decrease) in notes and accounts payable-trade Other, net | 34,055 25,162 (284) 167 (2,117) 2,261 (97) 460 (161) (3,494) 932 1,169 3,897 113 ― 5,583 (2,151) (25,365) 2,560 | 15,700 21,005 ― 334 (1,588) 1,747 1,132 ― (59) (1,265) 499 6,033 2,942 4,235 1,159 651 18,251 (2,716) (1,358) |
Sub-total | 42,692 | 66,706 |
Interest and dividends income received Interest expenses paid Settlement package received Payments of product compensation Income taxes paid Income taxes refund | 2,246 (2,327) 284 (25,078) (7,695) 1,107 | 1,711 (1,903) ― (12,754) (4,309) 2,818 |
Net cash provided by (used in) operating activities | 11,229 | 52,268 |
Cash flows frominvesting activities Additions to property, plant and equipment Proceeds from sales of property, plant and equipment Additions to intangible assets Additions to investments in securities Proceeds from sales and redemption of investment securities Payments for investments in capital of unconsolidated subsidiaries Other, net | (43,145) 534 (1,849) (270) 6,582 (51) (70) | (22,302) 241 (1,616) (17) 2,796 (6,488) (470) |
Net cash provided by (used in) investing activities | (38,271) | (27,856) |
Cash flows fromfinancing activities Net increase (decrease) in short-term bank loans Increase (decrease) in commercial papers Proceeds from long-term debt Payments of long-term debt Cash dividends paid Dividends paid to non-controlling interests Payments from changes in investments in capital of subsidiaries that do not result in change in scope of consolidation Payments from changes in ownership interests in subsidiaries that do not result in change in scope of consolidation Proceeds from issuance of shares Other, net | (9,576) (14,000) 21,564 (17,446) (6,248) (312) (518) (2,008) 50,441 (1,162) | (3,815) 6,000 24,264 (31,265) (6,920) (56) ― ― ― (250) |
Net cash provided by (used in) financing activities | 20,732 | (12,045) |
Effect of exchange rate change on cash and cash equivalents | (78) | (142) |
Net Increase (decrease) in cash and cash equivalents | (6,387) | 12,223 |
Cash and cash equivalents at beginning of the year | 30,467 | 24,079 |
Cash and cash equivalents at end of the period | 24,079 | 36,303 |
【After the revision】
Previous fiscal year | Current fiscal year | |
FY2019 (From January 1, 2019 to December 31, 2019) | FY2020 (From January 1, 2020 to December 31, 2020) | |
Cash flows fromoperating activities Income before income taxes and minority interests Depreciation and amortization Settlement received Increase (decrease) in net defined benefit liability Interest and dividends income Interest expenses Foreign exchange losses (gains) Stock issuance cost Equity in (earnings) losses of affiliates Loss (gain) on sales of investment securities Loss on retirement of noncurrent assets Impairment loss Loss on product compensation Loss on provision for product compensation Loss on liquidation of subsidiaries and associates Decrease (increase) in notes and accounts receivable-trade Decrease (increase) in inventories Increase (decrease) in notes and accounts payable-trade Other, net | 34,055 25,162 (284) 167 (2,117) 2,261 (97) 460 (161) (3,494) 932 1,169 3,897 113 ― 5,583 (2,151) (25,365) 2,560 | 15,700 21,005 ― 334 (1,588) 1,747 1,132 ― (59) (1,265) 499 6,033 2,942 4,235 1,159 651 18,251 (2,716) 168 |
Sub-total | 42,692 | 68,233 |
Interest and dividends income received Interest expenses paid Settlement package received Payments of product compensation Income taxes paid Income taxes refund | 2,246 (2,327) 284 (25,078) (7,695) 1,107 | 1,711 (1,903) ― (12,754) (4,309) 2,818 |
Net cash provided by (used in) operating activities | 11,229 | 53,796 |
Cash flows frominvesting activities Additions to property, plant and equipment Proceeds from sales of property, plant and equipment Additions to intangible assets Additions to investments in securities Proceeds from sales and redemption of investment securities Payments for investments in capital of unconsolidated subsidiaries Other, net | (43,145) 534 (1,849) (270) 6,582 (51) (70) | (22,302) 241 (1,616) (17) 2,796 (6,488) (470) |
Net cash provided by (used in) investing activities | (38,271) | (27,856) |
Cash flows fromfinancing activities Net increase (decrease) in short-term bank loans Increase (decrease) in commercial papers Proceeds from long-term debt Payments of long-term debt Cash dividends paid Dividends paid to non-controlling interests Payments from changes in investments in capital of subsidiaries that do not result in change in scope of consolidation Payments from changes in ownership interests in subsidiaries that do not result in change in scope of consolidation Proceeds from issuance of shares Other, net | (9,576) (14,000) 21,564 (17,446) (6,248) (312) (518) (2,008) 50,441 (1,162) | (3,815) 6,000 24,264 (31,265) (6,920) (56) ― ― ― (843) |
Net cash provided by (used in) financing activities | 20,732 | (12,638) |
Effect of exchange rate change on cash and cash equivalents | (78) | (1,077) |
Net Increase (decrease) in cash and cash equivalents | (6,387) | 12,223 |
Cash and cash equivalents at beginning of the year | 30,467 | 24,079 |
Cash and cash equivalents at end of the period | 24,079 | 36,303 |
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Toyo Tire & Rubber Co. Ltd. published this content on 30 March 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 30 March 2021 07:02:03 UTC.