EM Systems Cash Flow Statement

Financials in millions JPY. Fiscal year is January - December.

Millions JPY. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Net Income	3,624	3,694	2,750	2,789	2,599
Depreciation & Amortization	1,295	1,564	1,458	970	973
Loss (Gain) From Sale of Assets	414	1,488	10	2	8
Loss (Gain) From Sale of Investments	273	-	-	-	-
Loss (Gain) on Equity Investments	-	-	35	218	-
Other Operating Activities	-2,409	-518	-1,050	-945	-420
Change in Accounts Receivable	1,088	-1,211	269	-205	-546
Change in Inventory	433	253	9	-396	-439
Change in Accounts Payable	-631	484	-503	643	-7
Change in Other Net Operating Assets	-2,079	2	-1,394	-604	-456
Operating Cash Flow	2,008	5,756	1,584	2,472	1,712
Operating Cash Flow Growth	-65.11%	263.38%	-35.92%	44.39%	190.50%
Capital Expenditures	-935	-397	-170	-65	-116
Cash Acquisitions	-995	-	-2,007	-460	-
Sale (Purchase) of Intangibles	-446	-358	-586	-392	-479
Investment in Securities	-63	-1	-14	-322	-668
Other Investing Activities	417	951	730	838	843
Investing Cash Flow	-2,222	194	-2,038	-577	-544
Long-Term Debt Issued	-	-	2,500	-	-
Long-Term Debt Repaid	-835	-1,091	-410	-	-
Total Debt Repaid	-835	-1,091	-410	-	-
Net Debt Issued (Repaid)	-835	-1,091	2,090	-	-
Repurchase of Common Stock	-	-999	-	-499	-
Common Dividends Paid	-2,971	-1,123	-1,060	-781	-714
Other Financing Activities	-34	-354	-37	-39	21
Financing Cash Flow	-3,840	-3,567	993	-1,319	-693
Foreign Exchange Rate Adjustments	17	59	20	15	35
Miscellaneous Cash Flow Adjustments	1	-	1	-	-203
Net Cash Flow	-4,036	2,442	560	591	307
Free Cash Flow	1,073	5,359	1,414	2,407	1,596
Free Cash Flow Growth	-79.98%	279.00%	-41.25%	50.81%	1634.78%
Free Cash Flow Margin	4.54%	21.58%	6.95%	14.23%	11.06%
Free Cash Flow Per Share	15.46	76.09	19.94	33.89	22.37
Cash Interest Paid	5	8	7	4	-
Cash Income Tax Paid	2,407	522	1,052	947	421
Levered Free Cash Flow	563	6,075	1,471	2,071	1,183
Unlevered Free Cash Flow	566.13	6,080	1,475	2,074	1,183
Change in Working Capital	-1,189	-472	-1,619	-562	-1,448

Source: S&P Global Market Intelligence. Standard template. Financial Sources.