奥井英作のブログ　－　資金会計原論

資金会計原論Theory of Cash by Funds— 3.１ Case study・・X Co
By the way I could not find any clue of disposition which generates such a big sold profit (\108,619mil) of fixed assets in the SEC report.
X Co. have paid dividend, but their Substantial Retained Earnings were red balance for 4 fiscal years ending 2008, since such red balances caused the lack of paid in capital, we think they had not enough money for paying dividend. Anyway they succeeded to increase capital in 2006, the dividend made possible to increase their capital, I think. The increased capital was used up for restoring the fund shortage in 2007. And in 2007 they increased the borrowing balances by \33,951 mil to increase the Cash. In 2008 they succeeded to make big increase of ⊿G (\87,822 mil) by booking the big profit of fixed assets disposition.