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## Number of MRs 

<img src='content_image/260410.jpg'>

## Assets, Liabilities and Equity 

An overview of the consolidated statement of financial position as of March 31, 2014 and the main changes from the end of the previous fiscal year are shown below. 

## Assets 

Total assets as of March 31, 2014 amounted to ¥1,653.1 billion, up ¥87.8 billion from a year earlier. 

Non-current assets decreased ¥52.7 billion, to ¥739.8 billion at the fiscal year-end. Property, plant and equipment at cost was ¥191.5 billion, down ¥19.7 billion from the previous fiscal year-end. 

Current assets increased ¥140.6 billion, to ¥913.3 billion at the fiscal year-end. Cash and cash equivalents was ¥391.4 billion, up ¥126.5 billion from the previous fiscal year-end. 

## Equity 

Total equity was ¥1,268.5 billion, an increase of ¥93.9 billion from a year earlier. The ratio of owners’ equity to gross assets was 76.7%. 

While profit for the year stood at ¥90.9 billion, the Company paid ¥58.7 billion of dividends of surplus and acquired ¥30.1 billion of treasury shares. 

## Liabilities 

Total liabilities as of March 31, 2014 amounted to ¥384.6 billion, down ¥6.0 billion from a year earlier. 

Total non-current liabilities declined ¥21.8 billion to ¥43.9 billion. Current liabilities increased ¥15.8 billion to ¥340.7 billion. 

## Liquidity and Financing 

Seeking to strengthen its pharmaceutical business, Astellas is constantly working to expand its share of the Japanese market while also building a global sales and marketing network to boost its presence in global markets outside of Japan. Moreover, Astellas will continue reinforcing its R&D capabilities to maintain a strong drug discovery capability. 

In addition, Astellas will actively introduce new products and otherwise pursue strategic business investment oppor- tunities, to further reinforce its product lineup. A sufficient level of cash and cash equivalents is maintained to enable Astellas to target such strategic investment opportunities, while also supplying working capital and fund capital expenditures. 

As outlined in the section on business risks, Astellas’ operations face a varied set of risks that are peculiar to the ethical pharmaceutical business. Astellas believes that it is advisable to finance business development with internal funds. In preparation for the event of demand for funding beyond this, the Group’s financial policy is to maintain a healthy balance sheet at all times so it can finance smoothly at low costs. 

## Cash Flows 

## Cash Flows from Operating Activities 

Net cash flows from operating activities amounted to ¥214.3 billion, an increase of ¥63.3 billion in year-on-year terms. Income tax paid decreased ¥1.3 billion to ¥43.1 billion. 

## Cash Flows from Investing Activities 

Net cash flows used in investing activities totaled ¥26.9 billion, down ¥28.3 billion from the previous fiscal year. While proceeds from sales of property, plant and equipment provided cash of ¥8.7 billion and proceeds from sales of subsidiaries provided cash of ¥18.6 billion, purchases of property, plant and equipment used cash of ¥29.3 billion and purchase of intangible assets used cash of ¥26.9 billion. 

## Cash Flows from Financing Activities 

Net cash flows used in financing activities totaled ¥89.4 billion, down ¥20.6 billion from the previous fiscal year. Dividends paid to owners of the parent decreased ¥1.4 billion year on year, to ¥58.7 billion. Acquisition of treasury shares amounted to ¥30.1 billion. 

As a result of the above, the balance of cash and cash equivalents as of March 31, 2014 amounted to ¥391.4 billion, an increase of ¥126.5 billion compared with the previous fiscal year-end. 

