3) Summarized consolidated statements of cash flows by business segment Millions of yen Thousands of U.S. dollars Automobile and Sales Consolidated Automobile and Sales Consolidated Fiscal year 2004  (For the year ended Mar. 31, 2005) Eliminations Financing total Eliminations Financing total Operating activities Income before income taxes and  minority interests ................................................................... ¥720,764 ¥ 72,469 ¥793,233 $6,736,113 $ 677,280 $7,413,393 Depreciation and amortization ...................................... 349,163 176,763 525,926 3,263,205 1,651,991 4,915,196 (Increase) decrease in sales  finance receivables .............................................................. 17,131 (811,480) (794,349) 160,103 (7,583,925) (7,423,822) Others ............................................................................................... (207,813) 52,418 (155,395) (1,942,178) 489,888 (1,452,290) Net cash provided by (used in)  operating activities ............................................................... 879,245 (509,830) 369,415 8,217,243 (4,764,766) 3,452,477 Investing activities Proceeds from sales of investment securities  including shares of subsidiaries ............................... 10,285 510 10,795 96,122 4,766 100,888 Proceeds from sales of property,  plant and equipment ........................................................... 71,256 — 71,256 665,944 — 665,944 Purchases of fixed assets ................................................ (453,357) (7,789) (461,146) (4,236,982) (72,794) (4,309,776) Purchases of leased vehicles ........................................ (15,926) (574,679) (590,605) (148,841) (5,370,832) (5,519,673) Proceeds from sales of leased vehicles ............... 16,143 157,669 173,812 150,869 1,473,542 1,624,411 Others ............................................................................................... (79,115) 9,968 (69,147) (739,392) 93,159 (646,233) Net cash used in investing activities ........................ (450,714) (414,321) (865,035) (4,212,280) (3,872,159) (8,084,439) Financing activities Increase (decrease) in short-term  borrowings .................................................................................. 174,500 491,691 666,191 1,630,841 4,595,243 6,226,084 (Decrease) increase in long-term  borrowings .................................................................................. (391,244) 296,551 (94,693) (3,656,486) 2,771,505 (884,981) Increase in bonds and debentures ............................ — 140,663 140,663 — 1,314,607 1,314,607 Others ............................................................................................... (191,998) 883 (191,115) (1,794,373) 8,252 (1,786,121) Net cash (used in) provided by  financing activities ................................................................ (408,742) 929,788 521,046 (3,820,018) 8,689,607 4,869,589 Effect of exchange rate changes on cash  and cash equivalents .................................................................. 4,427 (58) 4,369 41,373 (542) 40,831 Increase in cash and cash  equivalents .......................................................................................... 24,216 5,579 29,795 226,318 52,140 278,458 Cash and cash equivalents at beginning  of the year ............................................................................................ 190,135 4,029 194,164 1,776,963 37,654 1,814,617 Increase due to inclusion in consolidation ................... 65,825 — 65,825 615,187 — 615,187 Cash and cash equivalents at end of the year .......... ¥280,176 ¥ 9,608 ¥289,784 $2,618,468 $ 89,794 $2,708,262 FINANCIAL SECTION Nissan Annual Report 2004 98