Nippon Denko 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	1,418	4,747	2,952	10,415	6,146
Depreciation & Amortization	3,665	3,245	2,945	2,463	2,124
Loss (Gain) From Sale of Assets	458	546	532	527	1,167
Loss (Gain) From Sale of Investments	-	-	-517	-88	-39
Loss (Gain) on Equity Investments	1,392	1,096	1,873	-1,906	223
Other Operating Activities	591	-39	-1,375	-1,269	-497
Change in Accounts Receivable	797	-688	-1,053	7,719	-4,734
Change in Inventory	7,840	-3,360	2,693	-10,571	-1,541
Change in Accounts Payable	-2,350	209	821	-318	2,408
Change in Other Net Operating Assets	758	202	-95	-692	-11
Operating Cash Flow	14,569	5,958	8,776	6,280	5,246
Operating Cash Flow Growth	144.53%	-32.11%	39.75%	19.71%	-49.32%
Capital Expenditures	-4,828	-4,299	-4,791	-4,543	-2,718
Sale of Property, Plant & Equipment	1	14	9	8	3
Divestitures	-	-	27	-	-
Investment in Securities	-361	-110	509	391	71
Other Investing Activities	-395	-453	-420	-448	-489
Investing Cash Flow	-5,583	-4,848	-4,666	-4,592	-2,211
Short-Term Debt Issued	-	2,000	-	6,000	-
Long-Term Debt Issued	1,000	-	6,649	-	-
Total Debt Issued	1,000	2,000	6,649	6,000	-
Short-Term Debt Repaid	-500	-	-6,000	-	-
Long-Term Debt Repaid	-3,564	-3,528	-3,058	-2,558	-1,458
Total Debt Repaid	-4,064	-3,528	-9,058	-2,558	-1,458
Net Debt Issued (Repaid)	-3,064	-1,528	-2,409	3,442	-1,458
Repurchase of Common Stock	-4,031	-	-1,000	-3,000	-
Common Dividends Paid	-1,647	-1,372	-1,670	-2,937	-1,321
Other Financing Activities	-172	-158	-163	-185	-141
Financing Cash Flow	-8,914	-3,058	-5,242	-2,680	-2,920
Foreign Exchange Rate Adjustments	5	29	88	124	62
Miscellaneous Cash Flow Adjustments	-	-	-	-	-1
Net Cash Flow	77	-1,919	-1,044	-868	176
Free Cash Flow	9,741	1,659	3,985	1,737	2,528
Free Cash Flow Growth	487.16%	-58.37%	129.42%	-31.29%	-55.80%
Free Cash Flow Margin	12.61%	2.12%	5.22%	2.19%	3.83%
Free Cash Flow Per Share	73.45	12.09	28.99	11.90	17.22
Cash Interest Paid	576	594	547	488	481
Cash Income Tax Paid	1,103	-257	1,193	1,149	156
Levered Free Cash Flow	-	-490.75	1,426	226.88	2,681
Unlevered Free Cash Flow	-	-120.75	1,767	530	2,980
Change in Working Capital	7,045	-3,637	2,366	-3,862	-3,878

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