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	157.97	104.92	109.7	75.46
Depreciation & Amortization	0.18	0.18	100.67	82.12
Other Amortization	166.41	111.44	-	-
Loss (Gain) From Sale of Assets	13.36	5.71	2.18	-0.09
Asset Writedown & Restructuring Costs	2.59	-	-	-
Other Operating Activities	0.27	4.27	9.41	-25.35
Change in Accounts Receivable	49.17	-60.75	21.89	-16.03
Change in Inventory	-0.32	-0.64	-	-
Change in Accounts Payable	13.05	4.53	-1.02	0.44
Change in Unearned Revenue	-26.84	67.75	54.44	43.88
Change in Other Net Operating Assets	14.01	-7.66	6.6	11.63
Operating Cash Flow	389.85	229.76	303.88	172.08
Operating Cash Flow Growth	69.68%	-24.39%	76.59%	-
Sale of Property, Plant & Equipment	-	-	-	0.15
Sale (Purchase) of Intangibles	-246.12	-198.64	-124.85	-100.65
Other Investing Activities	-0.77	-	0.14	-3.45
Investing Cash Flow	-246.89	-198.64	-124.71	-103.95
Issuance of Common Stock	30.41	1,655	-	1.04
Other Financing Activities	-	-14.76	-	-
Financing Cash Flow	30.41	1,640	-	1.04
Foreign Exchange Rate Adjustments	0.31	-	-	-
Miscellaneous Cash Flow Adjustments	-	0	-0	-
Net Cash Flow	173.68	1,671	179.17	69.17
Cash Income Tax Paid	84.87	45.31	34.33	45.31
Levered Free Cash Flow	139.67	27.76	175.07	-
Unlevered Free Cash Flow	139.67	27.76	175.07	-
Change in Working Capital	49.08	3.24	81.92	39.93