Morinaga Milk Industry Co., Ltd. (TYO:2264)

Morinaga Milk Industry Cash Flow Statement

Financials in millions JPY. Fiscal year is April - March.

Operating Activities

Fiscal Year	FY 2026	FY 2025	FY 2024	FY 2023	FY 2022
Period Ending	Mar 31, 2026	Mar 31, 2025	Mar 31, 2024	Mar 31, 2023	Mar 31, 2022
Net Income	32,238	15,286	88,571	23,719	48,296
Depreciation & Amortization	23,883	24,608	23,601	21,419	21,262
Loss (Gain) From Sale of Assets	3,947	16,897	-62,842	1,004	-20,558
Loss (Gain) From Sale of Investments	-264	-6,551	-8	289	10
Loss (Gain) on Equity Investments	-212	386	175	53	19
Other Operating Activities	-3,883	-36,542	-1,155	-17,158	-8,751
Change in Accounts Receivable	-3,368	7,491	-8,639	-433	-1,423
Change in Inventory	-6,826	-4,662	-4,150	-1,966	-3,833
Change in Accounts Payable	-783	-9,500	9,076	1,070	4,330
Change in Other Net Operating Assets	-9,016	-19,869	11,954	-8,615	916
Operating Cash Flow	35,716	-12,456	56,583	19,382	40,268
Operating Cash Flow Growth	-	-	191.94%	-51.87%	4.47%

Investing Activities

Fiscal Year	FY 2026	FY 2025	FY 2024	FY 2023	FY 2022
Period Ending	Mar 31, 2026	Mar 31, 2025	Mar 31, 2024	Mar 31, 2023	Mar 31, 2022
Capital Expenditures	-39,999	-32,224	-33,146	-19,587	-18,878
Sale of Property, Plant & Equipment	756	5,253	60,310	1,157	30,926
Cash Acquisitions	-	-	-1,726	-7,248	-3,269
Divestitures	-	-	-	85	-
Investment in Securities	530	8,153	53	140	-349
Other Investing Activities	9	2	-326	1	-89
Investing Cash Flow	-38,870	-18,786	25,223	-25,463	8,371

Financing Activities

Fiscal Year	FY 2026	FY 2025	FY 2024	FY 2023	FY 2022
Period Ending	Mar 31, 2026	Mar 31, 2025	Mar 31, 2024	Mar 31, 2023	Mar 31, 2022
Short-Term Debt Issued	-	10,000	-	10,193	-
Long-Term Debt Issued	44,155	25,428	1,073	5,414	3,235
Total Debt Issued	44,155	35,428	1,073	15,607	3,235
Short-Term Debt Repaid	-443	-1,649	-10,818	-	-10,298
Long-Term Debt Repaid	-25,640	-17,804	-13,715	-8,106	-8,165
Total Debt Repaid	-26,083	-19,453	-24,533	-8,106	-18,463
Net Debt Issued (Repaid)	18,072	15,975	-23,460	7,501	-15,228
Issuance of Common Stock	67	73	12	-	-
Repurchase of Common Stock	-10,010	-11,214	-10,012	-8	-24,783
Common Dividends Paid	-7,471	-9,011	-4,071	-3,616	-3,464
Other Financing Activities	-1,161	-851	-1,093	-952	-1,047
Financing Cash Flow	-503	-5,028	-38,624	2,925	-44,522

Net Cash Flow

Fiscal Year	FY 2026	FY 2025	FY 2024	FY 2023	FY 2022
Period Ending	Mar 31, 2026	Mar 31, 2025	Mar 31, 2024	Mar 31, 2023	Mar 31, 2022
Foreign Exchange Rate Adjustments	1,157	301	371	223	169
Miscellaneous Cash Flow Adjustments	-	-	-1	423	61
Net Cash Flow	-2,500	-35,969	43,552	-2,510	4,347

Free Cash Flow

Fiscal Year	FY 2026	FY 2025	FY 2024	FY 2023	FY 2022
Period Ending	Mar 31, 2026	Mar 31, 2025	Mar 31, 2024	Mar 31, 2023	Mar 31, 2022
Free Cash Flow	-4,283	-44,680	23,437	-205	21,390
Free Cash Flow Growth	-	-	-	-	106.41%
Free Cash Flow Margin	-0.75%	-7.96%	4.28%	-0.04%	4.25%
Free Cash Flow Per Share	-13.07	-132.02	66.53	-0.57	54.32
Levered Free Cash Flow	-5,979	-33,710	37,658	631.75	24,354
Unlevered Free Cash Flow	-5,004	-32,767	38,465	1,076	24,821

Additional Metrics

Fiscal Year	FY 2026	FY 2025	FY 2024	FY 2023	FY 2022
Period Ending	Mar 31, 2026	Mar 31, 2025	Mar 31, 2024	Mar 31, 2023	Mar 31, 2022
Cash Interest Paid	1,449	1,559	1,231	709	754
Cash Income Tax Paid	3,991	36,486	1,220	17,162	8,745
Change in Working Capital	-19,993	-26,540	8,241	-9,944	-10

Data Source: S&P Global Market Intelligence Last updated: Jun 30, 2026

Financial data is provided by S&P Global Market Intelligence and updates within hours after each earnings release, which is every three months for this company.

Update frequency:

Quarterly

Last checked:

Aug 13, 2026

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