S-Pool Cash Flow Statement

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

Millions JPY. Fiscal year is Dec - Nov.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Feb '26 Feb 28, 2026	Nov '25 Nov 30, 2025	Nov '24 Nov 30, 2024	Nov '23 Nov 30, 2023	Nov '22 Nov 30, 2022	Nov '21 Nov 30, 2021
Net Income	1,977	2,123	2,569	2,649	2,908	2,640
Depreciation & Amortization	3,830	3,768	3,394	2,613	868	671
Loss (Gain) From Sale of Assets	178	178	-	-	47	13
Loss (Gain) From Sale of Investments	-	-	-	-	163	20
Other Operating Activities	-973	-872	-815	-1,138	-786	-743
Change in Accounts Receivable	745	436	-1,037	249	-29	-452
Change in Inventory	-456	-220	-77	-105	75	-82
Change in Accounts Payable	1,172	1,244	373	-16	-94	159
Change in Other Net Operating Assets	-1,095	-1,037	664	-155	-290	-31
Operating Cash Flow	5,378	5,620	5,071	4,097	2,862	2,195
Operating Cash Flow Growth	17.19%	10.83%	23.77%	43.15%	30.39%	-1.75%
Capital Expenditures	-1,856	-1,904	-3,264	-4,171	-2,763	-2,143
Sale of Property, Plant & Equipment	-1	-	-	-	-	-
Sale (Purchase) of Intangibles	-15	-24	-72	-48	-12	-25
Investment in Securities	-3	-3	-	-	36	-199
Other Investing Activities	-215	-165	-57	-353	-111	-147
Investing Cash Flow	-2,090	-2,096	-3,393	-4,572	-2,850	-2,514
Short-Term Debt Issued	-	-	700	350	-	1,100
Long-Term Debt Issued	-	1,500	2,000	3,000	-	1,000
Total Debt Issued	1,000	1,500	2,700	3,350	-	2,100
Short-Term Debt Repaid	-	-600	-	-	-	-
Long-Term Debt Repaid	-	-1,290	-965	-471	-228	-97
Total Debt Repaid	-1,420	-1,890	-965	-471	-228	-97
Net Debt Issued (Repaid)	-420	-390	1,735	2,879	-228	2,003
Repurchase of Common Stock	-1	-274	-	-	-	-
Common Dividends Paid	-781	-789	-787	-631	-472	-259
Other Financing Activities	-2,919	-2,302	-2,190	-1,608	-37	-2
Financing Cash Flow	-4,121	-3,755	-1,242	640	-737	1,742
Miscellaneous Cash Flow Adjustments	1	1	-1	1	-	-
Net Cash Flow	-832	-230	435	166	-725	1,423
Free Cash Flow	3,522	3,716	1,807	-74	99	52
Free Cash Flow Growth	87.84%	105.64%	-	-	90.39%	-55.17%
Free Cash Flow Margin	13.63%	14.28%	7.07%	-0.29%	0.37%	0.21%
Free Cash Flow Per Share	45.10	47.45	22.87	-0.94	1.25	0.66
Cash Interest Paid	322	297	213	127	30	25
Cash Income Tax Paid	870	870	816	1,138	787	741
Levered Free Cash Flow	4,434	4,549	1,325	-176.25	149.75	-350.88
Unlevered Free Cash Flow	4,627	4,727	1,452	-99.38	168.5	-335.88
Change in Working Capital	366	423	-77	-27	-338	-406

Updated Feb 28, 2026. Source: S&P Global Market Intelligence. Standard template. Financial Sources.