West Holdings Cash Flow Statement

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

Millions JPY. Fiscal year is Sep - Aug.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Aug '25 Aug 31, 2025	Aug '24 Aug 31, 2024	Aug '23 Aug 31, 2023	Aug '22 Aug 31, 2022	Aug '21 Aug 31, 2021
Net Income	7,767	9,866	8,198	5,764	9,472
Depreciation & Amortization	2,723	2,342	2,168	1,432	1,448
Loss (Gain) From Sale of Assets	47	71	-	-	-
Loss (Gain) From Sale of Investments	-	-19	-	-	148
Other Operating Activities	-4,054	-150	-2,901	-3,988	-1,939
Change in Accounts Receivable	-3,561	-10,584	381	4,248	-4,838
Change in Inventory	-1,609	300	2,086	-10,916	-2,398
Change in Accounts Payable	470	-516	-202	-1,563	3,315
Change in Other Net Operating Assets	1,480	-815	-2,385	165	-81
Operating Cash Flow	3,263	495	7,345	-4,858	5,127
Operating Cash Flow Growth	559.19%	-93.26%	-	-	284.62%
Capital Expenditures	-3,056	-7,027	-3,919	-5,160	-3,256
Cash Acquisitions	-1,942	-	-	-	-
Sale (Purchase) of Intangibles	-575	-1,799	-637	-339	-138
Investment in Securities	-1	-398	-280	997	-503
Other Investing Activities	405	-309	-370	-186	-136
Investing Cash Flow	-5,459	-10,420	-5,384	-4,674	-4,037
Short-Term Debt Issued	427	100	504	-	4,500
Long-Term Debt Issued	32,856	14,695	35,404	27,442	16,268
Total Debt Issued	33,283	14,795	35,908	27,442	20,768
Short-Term Debt Repaid	-	-	-	-5,500	-
Long-Term Debt Repaid	-20,572	-18,219	-17,078	-16,865	-15,711
Total Debt Repaid	-20,572	-18,219	-17,078	-22,365	-15,711
Net Debt Issued (Repaid)	12,711	-3,424	18,830	5,077	5,057
Repurchase of Common Stock	-	-2,791	-15	-38	-95
Common Dividends Paid	-2,576	-2,234	-2,236	-2,031	-1,408
Other Financing Activities	-71	-114	-24	-94	-239
Financing Cash Flow	10,064	-8,563	16,555	2,914	3,315
Foreign Exchange Rate Adjustments	19	43	26	-20	29
Miscellaneous Cash Flow Adjustments	1	1	11	-1	1
Net Cash Flow	7,888	-18,444	18,553	-6,639	4,435
Free Cash Flow	207	-6,532	3,426	-10,018	1,871
Free Cash Flow Growth	-	-	-	-	181.78%
Free Cash Flow Margin	0.44%	-12.96%	7.83%	-14.92%	2.75%
Free Cash Flow Per Share	5.22	-161.86	84.26	-246.37	46.00
Cash Interest Paid	1,091	721	632	479	420
Cash Income Tax Paid	4,297	164	2,879	3,967	1,936
Levered Free Cash Flow	-1,071	-8,438	1,528	3,085	1,877
Unlevered Free Cash Flow	-389.63	-7,980	1,909	3,369	2,136
Change in Working Capital	-3,220	-11,615	-120	-8,066	-4,002

Updated Nov 30, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.