Tokio Marine Holdings Cash Flow Statement

Financials in millions JPY. Fiscal year is April - March.

Millions JPY. Fiscal year is Apr - Mar.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar '25 Mar 31, 2025	Mar '24 Mar 31, 2024	Mar '23 Mar 31, 2023	Mar '22 Mar 31, 2022	Mar '21 Mar 31, 2021
Net Income	1,450,272	821,861	529,358	554,272	243,174
Depreciation & Amortization	235,051	210,513	191,399	151,677	132,470
Gain (Loss) on Sale of Assets	2,171	10,880	516	163	2,761
Gain (Loss) on Sale of Investments	-689,963	-260,510	-120,237	-118,255	-77,656
Change in Insurance Reserves / Liabilities	511,500	809,958	825,987	770,883	1,005,024
Change in Other Net Operating Assets	60,027	-283,908	-260,614	-8,566	-39,346
Other Operating Activities	-222,565	-227,429	-263,714	-250,968	-98,628
Operating Cash Flow	1,345,080	1,072,124	1,007,582	1,102,240	1,177,873
Operating Cash Flow Growth	25.46%	6.41%	-8.59%	-6.42%	18.07%
Capital Expenditures	-26,148	-20,723	-24,877	-29,050	-26,224
Sale of Property, Plant & Equipment	14,040	15,338	18,798	5,240	2,680
Investment in Securities	1,167,662	-6,918	631,459	-208,746	-312,112
Other Investing Activities	-798,054	-425,983	-304,295	-219,110	-205,964
Investing Cash Flow	164,619	-627,647	18,193	-665,444	-731,010
Long-Term Debt Issued	36,975	-	2,218	-	-
Total Debt Repaid	-1	-136,923	-49	-20,550	-275,257
Net Debt Issued (Repaid)	36,974	-136,923	2,169	-20,550	-275,257
Repurchases of Common Stock	-269,038	-62,917	-111,691	-93,736	-25,792
Common Dividends Paid	-281,243	-219,142	-192,008	-151,571	-160,419
Other Financing Activities	-675,130	12,778	-707,696	-238,772	-51,499
Financing Cash Flow	-1,188,437	-406,204	-1,009,226	-504,629	-512,967
Foreign Exchange Rate Adjustments	61,550	63,326	56,615	59,659	-33,124
Miscellaneous Cash Flow Adjustments	1	-1	1	-4,295	2,748
Net Cash Flow	382,813	101,598	73,165	-12,469	-96,480
Free Cash Flow	1,318,932	1,051,401	982,705	1,073,190	1,151,649
Free Cash Flow Growth	25.45%	6.99%	-8.43%	-6.81%	18.37%
Free Cash Flow Margin	16.53%	14.30%	14.84%	18.37%	21.20%
Free Cash Flow Per Share	677.62	531.27	489.03	521.76	550.36
Cash Interest Paid	26,736	27,358	12,829	8,788	12,674
Cash Income Tax Paid	190,509	143,508	225,446	223,279	101,534
Levered Free Cash Flow	1,035,769	849,069	1,109,187	731,041	467,894
Unlevered Free Cash Flow	1,052,595	865,325	1,117,908	736,290	475,054
Change in Working Capital	571,527	526,050	565,373	762,317	965,678

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