Takahashi Curtain Wall 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	185	661	447	225	2,096
Depreciation & Amortization	283	304	332	287	262
Loss (Gain) From Sale of Assets	-	8	1	18	15
Loss (Gain) From Sale of Investments	-	-	-	-	-31
Other Operating Activities	-183	-139	-72	-723	-4
Change in Accounts Receivable	2,563	-3,050	836	61	-3,237
Change in Inventory	15	130	-132	-55	3,319
Change in Accounts Payable	-219	198	-11	-20	11
Change in Other Net Operating Assets	-133	33	117	-666	-431
Operating Cash Flow	2,511	-1,855	1,518	-873	2,000
Capital Expenditures	-369	-95	-275	-323	-369
Sale of Property, Plant & Equipment	-	-	-	-	26
Sale (Purchase) of Intangibles	-4	-7	-8	-53	-17
Investment in Securities	-	-	-	-	50
Other Investing Activities	-1	-	-1	1	56
Investing Cash Flow	-374	-99	-285	-373	-257
Short-Term Debt Issued	-	370	210	-	-
Long-Term Debt Issued	-	500	240	-	100
Total Debt Issued	-	870	450	-	100
Short-Term Debt Repaid	-555	-	-	-	-20
Long-Term Debt Repaid	-248	-220	-217	-195	-337
Total Debt Repaid	-803	-220	-217	-195	-357
Net Debt Issued (Repaid)	-803	650	233	-195	-257
Repurchase of Common Stock	-49	-145	-119	-27	-39
Common Dividends Paid	-160	-164	-169	-171	-241
Other Financing Activities	-3	-4	-3	-3	-3
Financing Cash Flow	-1,015	337	-58	-396	-540
Miscellaneous Cash Flow Adjustments	-1	1	-1	-1	-1
Net Cash Flow	1,121	-1,616	1,174	-1,643	1,202
Free Cash Flow	2,142	-1,950	1,243	-1,196	1,631
Free Cash Flow Margin	29.19%	-20.78%	16.95%	-15.88%	13.33%
Free Cash Flow Per Share	268.17	-239.59	148.01	-139.59	189.03
Cash Interest Paid	4	5	3	2	3
Cash Income Tax Paid	182	141	73	723	4
Levered Free Cash Flow	2,071	-1,985	1,120	-1,315	1,603
Unlevered Free Cash Flow	2,074	-1,982	1,122	-1,314	1,605
Change in Working Capital	2,226	-2,689	810	-680	-338