Shimano Cash Flow Statement

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

Millions JPY. Fiscal year is Jan - Dec.

Fiscal Year	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020
Net Income	98,594	83,438	174,112	153,728	84,820
Depreciation & Amortization	25,037	23,937	20,992	18,749	18,270
Loss (Gain) From Sale of Assets	66	924	829	465	559
Loss (Gain) From Sale of Investments	-541	-	98	-1,282	-
Other Operating Activities	-19,885	-45,036	-51,150	-25,872	-13,131
Change in Accounts Receivable	-6,944	25,141	-1,594	-12,496	-2,340
Change in Inventory	-2,221	20,251	-23,939	-24,651	-6,212
Change in Accounts Payable	4,253	-10,177	-4,821	4,384	5,348
Change in Other Net Operating Assets	-11,327	16,089	-3,843	-586	3,736
Operating Cash Flow	87,032	114,567	110,684	112,439	91,050
Operating Cash Flow Growth	-24.03%	3.51%	-1.56%	23.49%	34.10%
Capital Expenditures	-36,824	-24,783	-20,247	-16,156	-23,360
Sale of Property, Plant & Equipment	108	95	160	90	73
Divestitures	-	-	5,307	-	-
Sale (Purchase) of Intangibles	-8,753	-6,532	-7,265	-3,878	-4,205
Investment in Securities	9,584	60	-11,027	359	-1,137
Other Investing Activities	200	-402	-78	-516	264
Investing Cash Flow	-35,810	-31,760	-33,378	-20,129	-28,328
Short-Term Debt Issued	-	-	-	2,987	-
Long-Term Debt Issued	-	-	-	-	21
Total Debt Issued	-	-	-	2,987	21
Short-Term Debt Repaid	-	-2,280	-1,446	-	-2,623
Long-Term Debt Repaid	-	-	-6	-7	-459
Total Debt Repaid	-	-2,280	-1,452	-7	-3,082
Net Debt Issued (Repaid)	-	-2,280	-1,452	2,980	-3,061
Issuance of Common Stock	55	55	1	-	-
Repurchase of Common Stock	-21,488	-14,724	-34,412	-24,235	-18
Common Dividends Paid	-26,630	-25,804	-21,497	-36,596	-14,371
Other Financing Activities	-1,413	-1,208	-1,062	-923	-455
Financing Cash Flow	-49,476	-43,961	-58,422	-58,774	-17,905
Foreign Exchange Rate Adjustments	46,582	25,869	40,608	24,041	-9,356
Miscellaneous Cash Flow Adjustments	-1	-	-	-1	-3
Net Cash Flow	48,327	64,715	59,492	57,576	35,458
Free Cash Flow	50,208	89,784	90,437	96,283	67,690
Free Cash Flow Growth	-44.08%	-0.72%	-6.07%	42.24%	51.62%
Free Cash Flow Margin	11.13%	18.93%	14.38%	17.62%	17.91%
Free Cash Flow Per Share	561.32	993.79	993.58	1040.27	730.21
Cash Interest Paid	115	277	168	123	114
Cash Income Tax Paid	18,475	43,197	49,445	26,197	16,831
Levered Free Cash Flow	-4,782	69,562	62,769	69,521	48,735
Unlevered Free Cash Flow	-4,709	69,694	62,865	69,594	48,801
Change in Working Capital	-16,239	51,304	-34,197	-33,349	532

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