VRAIN Solution Cash Flow Statement

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

Millions JPY. Fiscal year is Mar - Feb.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022
Period Ending	Aug '25 Aug 31, 2025	Feb '25 Feb 28, 2025	Feb '24 Feb 29, 2024	Feb '23 Feb 28, 2023	Feb '22 Feb 28, 2022
Net Income	360.07	425.07	330.16	49.93	11.19
Depreciation & Amortization	55.39	35.39	18.93	15.96	4.93
Other Amortization	0.34	0.34	11.62	-	-
Loss (Gain) From Sale of Assets	-	-	-	3.61	-
Other Operating Activities	-41.58	-71.58	155.7	20.95	-5.99
Change in Accounts Receivable	-854.72	-545.72	-134.61	-126.89	-8.81
Change in Inventory	-24.79	-37.79	-18.32	-20.88	-17.93
Change in Accounts Payable	-16.73	33.27	1.2	-	12.23
Change in Unearned Revenue	22.75	-21.25	30.66	-33.07	15.91
Change in Other Net Operating Assets	101.03	21.03	40.58	49.46	1.75
Operating Cash Flow	-398.24	-161.24	435.92	-40.93	13.29
Capital Expenditures	-125.5	-77.5	-18.07	-47.06	-21.78
Sale (Purchase) of Intangibles	-1.2	-2.2	-	-	-
Investment in Securities	-	-	-	-	-54.68
Other Investing Activities	-184.39	-162.39	-0.54	7.37	1.09
Investing Cash Flow	-311.1	-242.1	-18.61	-39.69	-75.37
Short-Term Debt Issued	-	-	-	-	47.22
Long-Term Debt Issued	-	-	-	91.32	50
Total Debt Issued	170	-	-	91.32	97.22
Short-Term Debt Repaid	-	-	-	-47.22	-
Long-Term Debt Repaid	-	-63.49	-50.96	-27.3	-3.55
Total Debt Repaid	-45.49	-63.49	-50.96	-74.52	-3.55
Net Debt Issued (Repaid)	124.51	-63.49	-50.96	16.8	93.67
Issuance of Common Stock	6	-	577.67	-	-
Other Financing Activities	-6.39	-6.39	-	-	-
Financing Cash Flow	124.12	-69.89	526.7	16.8	93.67
Miscellaneous Cash Flow Adjustments	1	-0	-	-	-0
Net Cash Flow	-584.22	-473.22	944.02	-63.82	31.59
Free Cash Flow	-523.74	-238.74	417.85	-87.99	-8.49
Free Cash Flow Margin	-21.97%	-11.13%	29.61%	-14.25%	-2.46%
Free Cash Flow Per Share	-51.06	-23.18	41.38	-8.89	-0.86
Cash Interest Paid	0.39	0.39	0.97	1.16	0.32
Cash Income Tax Paid	194.94	252.94	28.5	5.04	9.35
Levered Free Cash Flow	-	-285.46	419.3	-109.7	-
Unlevered Free Cash Flow	-	-285.21	419.9	-108.97	-
Change in Working Capital	-772.45	-550.45	-80.49	-131.38	3.15

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