KIDS STAR 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
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022
Net Income	233	104.92	109.7	75.46
Depreciation & Amortization	166	0.18	100.67	82.12
Other Amortization	-	111.44	-	-
Loss (Gain) From Sale of Assets	15	5.71	2.18	-0.09
Other Operating Activities	-84	4.27	9.41	-25.35
Change in Accounts Receivable	49	-60.75	21.89	-16.03
Change in Inventory	-	-0.64	-	-
Change in Accounts Payable	27	4.53	-1.02	0.44
Change in Unearned Revenue	-	67.75	54.44	43.88
Change in Other Net Operating Assets	-17	-7.66	6.6	11.63
Operating Cash Flow	389	229.76	303.88	172.08
Operating Cash Flow Growth	69.31%	-24.39%	76.59%	-
Sale of Property, Plant & Equipment	-	-	-	0.15
Sale (Purchase) of Intangibles	-246	-198.64	-124.85	-100.65
Other Investing Activities	-	-	0.14	-3.45
Investing Cash Flow	-246	-198.64	-124.71	-103.95
Issuance of Common Stock	30	1,655	-	1.04
Other Financing Activities	-	-14.76	-	-
Financing Cash Flow	30	1,640	-	1.04
Miscellaneous Cash Flow Adjustments	-	0	-0	-
Net Cash Flow	173	1,671	179.17	69.17
Cash Income Tax Paid	84	45.31	34.33	45.31
Levered Free Cash Flow	138.95	27.76	175.07	-
Unlevered Free Cash Flow	138.95	27.76	175.07	-
Change in Working Capital	59	3.24	81.92	39.93

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