Obayashi 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	211,040	107,106	113,706	56,281	134,573
Depreciation & Amortization	32,457	27,117	23,941	20,691	20,038
Loss (Gain) From Sale of Assets	4,450	4,832	328	-	64
Loss (Gain) From Sale of Investments	-66,644	-22,984	-13,401	-8,558	-5,312
Other Operating Activities	-24,548	-39,320	-24,145	-32,414	-49,993
Change in Accounts Receivable	-61,556	-193,800	74,694	-96,705	14,647
Change in Inventory	11,766	1,687	26,048	33,985	-21,390
Change in Accounts Payable	-60,220	125,767	29,257	43,111	-77,678
Change in Other Net Operating Assets	38,880	39,994	-1,972	53,306	9,854
Operating Cash Flow	85,625	50,399	228,456	69,697	24,803
Operating Cash Flow Growth	69.89%	-77.94%	227.78%	181.00%	-89.56%
Capital Expenditures	-50,178	-78,391	-96,589	-58,030	-57,431
Sale of Property, Plant & Equipment	1,931	1,224	839	815	2,726
Divestitures	-	-	-	-9,689	-
Investment in Securities	62,117	20,783	18,410	11,840	-6,430
Other Investing Activities	-4,069	-27,828	-23,943	5,292	-18,029
Investing Cash Flow	9,596	-84,471	-101,610	-49,833	-79,075
Short-Term Debt Issued	-	5,843	701	4,996	-
Long-Term Debt Issued	73,204	25,822	85,598	31,919	42,766
Total Debt Issued	73,204	31,665	86,299	36,915	42,766
Short-Term Debt Repaid	-599	-	-	-	-
Long-Term Debt Repaid	-39,014	-51,336	-33,925	-23,918	-25,096
Total Debt Repaid	-39,613	-51,336	-33,925	-23,918	-25,096
Net Debt Issued (Repaid)	33,591	-19,671	52,374	12,997	17,670
Repurchase of Common Stock	-12,217	-110	-3	-793	-
Common Dividends Paid	-67,486	-30,155	-26,567	-22,977	-22,977
Other Financing Activities	-4,481	-1,986	-3,686	-1,684	-3,176
Financing Cash Flow	-50,593	-51,922	22,118	-12,457	-8,483
Foreign Exchange Rate Adjustments	8,853	7,048	7,351	5,436	285
Miscellaneous Cash Flow Adjustments	-	1	1	-1	-
Net Cash Flow	53,481	-78,945	156,316	12,842	-62,470
Free Cash Flow	35,447	-27,992	131,867	11,667	-32,628
Free Cash Flow Growth	-	-	1030.26%	-	-
Free Cash Flow Margin	1.35%	-1.20%	6.65%	0.61%	-1.85%
Free Cash Flow Per Share	49.48	-39.04	183.93	16.27	-45.46
Cash Interest Paid	4,126	3,634	2,438	2,001	1,830
Cash Income Tax Paid	25,697	39,157	24,365	32,805	47,753
Levered Free Cash Flow	5,778	-50,735	107,878	-9,680	-53,181
Unlevered Free Cash Flow	8,731	-48,528	109,431	-8,419	-52,015
Change in Working Capital	-71,130	-26,352	128,027	33,697	-74,567

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