Movements of assets and liabilities

(Billions of yen)

  2014 2015 2016 2017 2018
  Trade accounts receivable 141.3 134.5 140.7 148.5 150.8
  Inventories 139.6 161.1 185.4 169.1 159.4
  Trade accounts payable (35.4) (41.2) (42.5) (38.4) (35.9)
  Other net working capital (36.2) (39.8) (25.2) (28.4) (39.1)
  Net working capital 209.4 214.6 258.5 250.7 235.1
  Property, plant and equipment 140.2 153.5 157.1 171.6 222.4
  Intangible assets 11.3 13.5 19.3 21.1 22.7
  Other long-term assets - net (3.2) (1.3) (3.7) (3.1) 25.1
  Long-term net operating assets 148.4 165.8 172.7 189.5 270.1
  Net operating assets 357.7 380.4 431.1 440.2 505.3
  Debt (0.2) (0.7) (0.6) (0.3) (0.2)
  Marketable securities 116.0 134.4 110.2 104.0 102.5
  Cash and cash equivalents 114.0 101.7 95.4 139.1 146.9
  Net cash 229.9 235.4 204.9 242.8 249.2
  Other non-operating assets - net 10.2 11.5 10.5 9.9 2.1
  Net non-operating assets 240.0 246.8 215.4 252.7 251.3
  Total net assets 597.8 627.3 646.5 692.9 756.5
  Total net assets          
  Total assets 739.5 787.4 806.3 852.5 919.5
  Total liabilities (141.8) (160.1) (159.8) (159.6) (163.0)
  Attributable to          
  Chugai shareholders 596.1 625.9 645.5 691.9 755.9
  Non-controlling interests 1.7 1.4 1.0 1.0 0.7

Trade accounts receivable: trade receivable and notes receivable
Trade accounts payable: trade payable and notes payable
Other net working capital: accrued receivable (other receivable), accrued payable (other payable), accrued expenses (other current liabilities) etc.
Other long-term assets-net: long-term prepaid expenses, long-term provisions etc.
Other non-operating assets-net: deferred income tax assets, current income tax liabilities etc.

Net operating assets (NOA) and Net assets:
The consolidated balance sheet has been prepared in accordance with International Accounting Standards (IAS) No. 1, “Presentation of Financial Statements.” On the other hand, Net operating assets (NOA) and Net assets are a reconfiguration of the consolidated balance sheet as internal indicators and are identical to the indicators disclosed by Roche. Furthermore, no items from Net operating assets (NOA) and Net assets of IFRS have been excluded, as the Core results concept only applies to the income statement.

Net operating assets (NOA):
Net operating assets allow for an assessment of the Group’s operating performance of the business independently from financing and tax activities. Net operating assets are calculated as net working capital, long-term net operating assets that includes property, plant and equipment, intangible assets etc. minus provisions.

IFRS 15 ‘Revenues from Contracts with Customers’
With the application of IFRS 15 ‘Revenue from Contracts with Customers,’ deferred income of ¥10.6 billion after tax effect, which was included in net working capital and long-term net operating assets at the beginning of the year, has been presented as retained earnings.

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Financial Results

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