SBS Holdings Cash Flow Statement

Financials in millions JPY. Fiscal year is January - December.

Millions JPY. Fiscal year is Jan - Dec.

Fiscal Year	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Net Income	17,390	18,497	21,737	20,115
Depreciation & Amortization	11,963	10,955	11,074	10,114
Loss (Gain) From Sale of Assets	1,034	1,170	-1,099	359
Loss (Gain) From Sale of Investments	-30	-74	744	14
Loss (Gain) on Equity Investments	-1,155	-719	-639	-661
Other Operating Activities	-7,185	-7,087	-3,237	-6,658
Change in Accounts Receivable	-468	4,168	-3,017	-2,023
Change in Inventory	-6,576	-6,172	-2,922	4,461
Change in Accounts Payable	-505	-7,678	1,579	579
Change in Other Net Operating Assets	1,339	1,053	-1,813	1,172
Operating Cash Flow	15,807	14,113	22,407	27,472
Operating Cash Flow Growth	12.00%	-37.02%	-18.44%	59.15%
Capital Expenditures	-13,110	-9,813	-17,082	-12,865
Sale of Property, Plant & Equipment	172	490	3,417	164
Cash Acquisitions	-1,458	-440	-1,209	-8,315
Divestitures	-	-	287	172
Investment in Securities	-67	199	-	-444
Other Investing Activities	-2,260	-620	-1,308	-1,055
Investing Cash Flow	-16,723	-10,184	-15,895	-22,343
Short-Term Debt Issued	-	-	5,519	-
Long-Term Debt Issued	18,059	17,500	15,000	26,000
Total Debt Issued	18,059	17,500	20,519	26,000
Short-Term Debt Repaid	-2,239	-5,059	-	-20,180
Long-Term Debt Repaid	-12,151	-15,340	-15,304	-11,802
Total Debt Repaid	-14,390	-20,399	-15,304	-31,982
Net Debt Issued (Repaid)	3,669	-2,899	5,215	-5,982
Common Dividends Paid	-2,581	-2,422	-2,184	-1,390
Other Financing Activities	-2,381	-2,326	-2,542	-1,906
Financing Cash Flow	-1,293	-7,647	489	-9,278
Foreign Exchange Rate Adjustments	986	672	940	407
Miscellaneous Cash Flow Adjustments	-	38	931	1
Net Cash Flow	-1,223	-3,008	8,872	-3,741
Free Cash Flow	2,697	4,300	5,325	14,607
Free Cash Flow Growth	-37.28%	-19.25%	-63.54%	171.71%
Free Cash Flow Margin	0.60%	1.00%	1.17%	3.62%
Free Cash Flow Per Share	67.91	108.27	134.07	367.77
Cash Interest Paid	1,031	880	921	889
Cash Income Tax Paid	7,377	7,260	8,548	6,843
Levered Free Cash Flow	4,850	2,063	-6,651	-1,215
Unlevered Free Cash Flow	5,486	2,606	-6,071	-666.5
Change in Working Capital	-6,210	-8,629	-6,173	4,189

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