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Investor Presentaiton

FY2016.3 Results A Net cash provided by operating activities (A) Statement of Cash Flows (Consolidated) Bo (Billions of yen) Changes FY2017.3 Results B (B-A) 601.4 580.5 -20.9 Net cash used in investment activities -170.3 -1,909.5 -1,739.2 Payments for purchases of property, plant and equipment and intangible assets (B) -252.3 -330.1 -77.8 Proceeds/payments for money held in trust for the Chuo Shinkansen construction -1,472.7 -1,472.7 Proceeds/Payments from funds management 82.0 -106.7 -188.7 Net cash used in financing activities -242.8 1,425.1 1,668.0 of which proceeds from long-term debt for the Chuo Shinkansen construction 1,500.0 1,500.0 Net increase in cash and cash equivalents 188.3 96.2 -92.1 Cash and cash equivalents, beginning of year 130.0 318.3 188.3 Cash and cash equivalents, end of year 318.3 414.5 96.2 Substantial free cash flow ((A) + (B)) 349.1 250.4 -98.7 15
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