STUDIO ALICE Cash Flow Statement

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

Millions JPY. Fiscal year is Mar - Feb.

Fiscal Year	FY 2026	FY 2025	FY 2024	FY 2023	FY 2022
Period Ending	Feb '26 Feb 28, 2026	Feb '25 Feb 28, 2025	Feb '24 Feb 29, 2024	Feb '23 Feb 28, 2023	Feb '22 Feb 28, 2022
Net Income	1,879	2,288	1,914	3,539	5,669
Depreciation & Amortization	3,443	3,752	4,248	3,962	3,591
Loss (Gain) From Sale of Assets	258	376	405	334	317
Other Operating Activities	-875	-361	-959	-2,350	-1,617
Change in Accounts Receivable	30	59	88	-212	9
Change in Inventory	203	179	67	-457	734
Change in Accounts Payable	-238	148	56	-353	42
Change in Other Net Operating Assets	184	-105	-120	-422	629
Operating Cash Flow	4,884	6,336	5,699	4,041	9,374
Operating Cash Flow Growth	-22.92%	11.18%	41.03%	-56.89%	40.60%
Capital Expenditures	-2,085	-1,681	-3,054	-3,817	-4,333
Sale of Property, Plant & Equipment	5	10	-	3	2
Sale (Purchase) of Intangibles	-343	-330	-446	-376	-375
Investment in Securities	-	-	-	-6	-5
Other Investing Activities	-	-515	-103	-145	-32
Investing Cash Flow	-2,423	-2,516	-3,603	-4,341	-4,743
Common Dividends Paid	-849	-1,188	-1,188	-1,188	-849
Other Financing Activities	-2,861	-1,490	-452	214	1,730
Financing Cash Flow	-3,710	-2,678	-1,640	-974	881
Foreign Exchange Rate Adjustments	32	-6	14	20	11
Miscellaneous Cash Flow Adjustments	-	-1	-1	1	-
Net Cash Flow	-1,217	1,135	469	-1,253	5,523
Free Cash Flow	2,799	4,655	2,645	224	5,041
Free Cash Flow Growth	-39.87%	75.99%	1080.80%	-95.56%	47.31%
Free Cash Flow Margin	8.50%	13.08%	7.27%	0.58%	12.39%
Free Cash Flow Per Share	164.80	274.08	155.74	13.19	296.81
Cash Interest Paid	14	21	21	24	23
Cash Income Tax Paid	874	364	960	2,349	1,623
Levered Free Cash Flow	2,177	4,539	1,874	-183.38	4,270
Unlevered Free Cash Flow	2,186	4,552	1,888	-168.38	4,284
Change in Working Capital	179	281	91	-1,444	1,414