Hamamatsu Photonics K.K. Cash Flow Statement

Financials in millions JPY. Fiscal year is October - September.

Millions JPY. Fiscal year is Oct - Sep.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep '25 Sep 30, 2025	Sep '24 Sep 30, 2024	Sep '23 Sep 30, 2023	Sep '22 Sep 30, 2022	Sep '21 Sep 30, 2021
Net Income	20,716	35,435	58,520	58,668	34,755
Depreciation & Amortization	22,357	17,760	14,524	13,508	13,554
Loss (Gain) From Sale of Assets	-11	-5	1,047	278	354
Loss (Gain) on Equity Investments	-98	-417	-401	-194	3
Other Operating Activities	-6,318	-16,033	-24,026	-13,666	-6,186
Change in Accounts Receivable	-53	4,893	456	-2,483	-8,961
Change in Inventory	4,224	-4,710	-15,254	-12,271	17
Change in Accounts Payable	-487	-4,039	-2,010	-1,138	1,621
Change in Other Net Operating Assets	-2,546	5,167	1,397	2,424	4,756
Operating Cash Flow	37,784	38,051	34,253	45,126	39,913
Operating Cash Flow Growth	-0.70%	11.09%	-24.09%	13.06%	71.15%
Capital Expenditures	-35,905	-28,238	-29,551	-17,115	-17,814
Sale of Property, Plant & Equipment	63	91	99	60	120
Cash Acquisitions	-1,468	-43,548	-	-	-
Sale (Purchase) of Intangibles	-1,317	-1,272	-870	-887	-882
Investment in Securities	-3,718	-267	-2,255	4,721	1,915
Other Investing Activities	179	-465	-320	-110	-117
Investing Cash Flow	-42,166	-73,699	-32,897	-13,331	-16,778
Short-Term Debt Issued	28,256	19,427	1,052	1,310	2,006
Long-Term Debt Issued	4,349	6,172	2,000	3,543	-
Total Debt Issued	32,605	25,599	3,052	4,853	2,006
Long-Term Debt Repaid	-3,622	-1,094	-2,098	-3,094	-69
Total Debt Repaid	-3,622	-1,094	-2,098	-3,094	-69
Net Debt Issued (Repaid)	28,983	24,505	954	1,759	1,937
Repurchase of Common Stock	-20,001	-	-	-	-
Common Dividends Paid	-11,566	-11,795	-12,080	-9,302	-6,204
Other Financing Activities	-259	-152	-787	-216	-208
Financing Cash Flow	-2,843	12,558	-11,913	-7,759	-4,475
Foreign Exchange Rate Adjustments	682	1,249	1,912	9,020	2,576
Miscellaneous Cash Flow Adjustments	1	2	-	-	-1
Net Cash Flow	-6,542	-21,839	-8,645	33,056	21,235
Free Cash Flow	1,879	9,813	4,702	28,011	22,099
Free Cash Flow Growth	-80.85%	108.70%	-83.21%	26.75%	273.99%
Free Cash Flow Margin	0.89%	4.81%	2.12%	13.41%	13.07%
Free Cash Flow Per Share	6.26	31.68	15.18	90.45	71.37
Cash Interest Paid	698	174	120	82	53
Cash Income Tax Paid	6,417	16,026	24,035	13,664	6,189
Levered Free Cash Flow	-4,808	-803	-3,229	22,587	12,733
Unlevered Free Cash Flow	-4,306	-694.25	-3,154	22,638	12,766
Change in Working Capital	1,138	1,311	-15,411	-13,468	-2,567

Updated Dec 31, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.