Thinca Cash Flow Statement

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

Millions JPY. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Net Income	42.96	16.07	108.9	-136.12	-89.78
Depreciation & Amortization	10.58	25.22	20.11	12.36	11.95
Other Amortization	12.21	20.22	-	-	-
Provision & Write-off of Bad Debts	-0.03	0.2	-0.31	0.04	-0.44
Other Operating Activities	-21.3	53.03	-9.59	-11.61	0.33
Change in Accounts Receivable	6.44	-24.3	-7.52	-22.12	-6.21
Change in Inventory	-1.68	7.23	-6.67	-4.48	-9.56
Change in Accounts Payable	3.26	6.44	-1.29	4.13	1.5
Change in Unearned Revenue	7.04	14.19	3.3	0.99	-
Change in Other Net Operating Assets	19.86	-16.67	39.72	-28.89	-5.04
Operating Cash Flow	79.34	101.62	146.66	-185.7	-97.26
Operating Cash Flow Growth	-21.93%	-30.71%	-	-	-
Capital Expenditures	-9.68	-41.11	-5.17	-8.92	-23.22
Sale (Purchase) of Intangibles	-38.77	-43.32	-11.65	-	-
Other Investing Activities	-14.94	19.51	-18.26	-	45.23
Investing Cash Flow	-63.39	-64.92	-35.08	-8.92	22.01
Short-Term Debt Issued	-	90	-	-	-
Total Debt Issued	-	90	-	-	-
Short-Term Debt Repaid	-30	-	-	-	-
Long-Term Debt Repaid	-	-23.98	-10.56	-3.3	-3.3
Total Debt Repaid	-30	-23.98	-10.56	-3.3	-3.3
Net Debt Issued (Repaid)	-30	66.03	-10.56	-3.3	-3.3
Issuance of Common Stock	26.5	570	-	-	-
Other Financing Activities	0	-20.22	-	-	-
Financing Cash Flow	-3.5	615.81	-10.56	-3.3	-3.3
Miscellaneous Cash Flow Adjustments	-0	-	-0	-0	-
Net Cash Flow	12.45	652.51	101.02	-197.91	-78.55
Free Cash Flow	69.65	60.52	141.5	-194.61	-120.48
Free Cash Flow Growth	15.10%	-57.23%	-	-	-
Free Cash Flow Margin	4.76%	4.91%	13.60%	-25.33%	-20.88%
Free Cash Flow Per Share	21.11	19.12	52.55	-72.28	-44.75
Cash Interest Paid	0.93	0.7	0.42	0.54	0.66
Cash Income Tax Paid	22.72	1.29	0.73	-1.57	3.01
Levered Free Cash Flow	14.6	35.52	99.46	-141.11	-
Unlevered Free Cash Flow	15.19	35.96	99.72	-140.77	-
Change in Working Capital	34.91	-13.11	27.55	-50.37	-19.32

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