The Torigoe 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	1,699	1,597	1,466	1,400	1,212
Depreciation & Amortization	729	685	688	658	713
Loss (Gain) From Sale of Assets	7	4	2	3	-1
Loss (Gain) From Sale of Investments	-55	-199	-84	93	-
Other Operating Activities	-581	-372	-490	-342	-217
Change in Accounts Receivable	131	77	-23	-348	-131
Change in Inventory	932	110	-88	-1,396	-112
Change in Accounts Payable	253	49	162	-34	136
Change in Other Net Operating Assets	-16	-32	48	-81	176
Operating Cash Flow	3,099	1,919	1,681	-47	1,776
Operating Cash Flow Growth	61.49%	14.16%	-	-	68.34%
Capital Expenditures	-2,255	-581	-813	-430	-558
Sale of Property, Plant & Equipment	-	-	-	-	13
Sale (Purchase) of Intangibles	-35	-36	-153	-21	-2
Investment in Securities	85	228	28	-1	-1
Other Investing Activities	1	-	-	-	-
Investing Cash Flow	-2,204	-389	-938	-452	-548
Short-Term Debt Issued	9	8	7	6	6
Long-Term Debt Issued	-	2,295	100	-	2,303
Total Debt Issued	9	2,303	107	6	2,309
Short-Term Debt Repaid	-8	-8	-6	-6	-6
Long-Term Debt Repaid	-498	-1,358	-601	-519	-1,401
Total Debt Repaid	-506	-1,366	-607	-525	-1,407
Net Debt Issued (Repaid)	-497	937	-500	-519	902
Common Dividends Paid	-966	-401	-354	-325	-325
Other Financing Activities	-30	-32	-37	-52	-66
Financing Cash Flow	-1,493	504	-891	-896	511
Foreign Exchange Rate Adjustments	-	1	-	-	-
Miscellaneous Cash Flow Adjustments	1	-	-	-1	1
Net Cash Flow	-597	2,035	-148	-1,396	1,740
Free Cash Flow	844	1,338	868	-477	1,218
Free Cash Flow Growth	-36.92%	54.15%	-	-	96.77%
Free Cash Flow Margin	3.21%	5.11%	3.29%	-1.96%	5.37%
Free Cash Flow Per Share	36.24	57.48	37.29	-20.50	52.34
Cash Interest Paid	37	20	16	19	16
Cash Income Tax Paid	595	376	525	349	231
Levered Free Cash Flow	513.5	1,050	396.75	-786.63	937.13
Unlevered Free Cash Flow	536	1,063	406.13	-775.38	947.13
Change in Working Capital	1,300	204	99	-1,859	69

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