Sapeet Cash Flow Statement

Financials in millions JPY. Fiscal year is October - September.

Millions JPY. Fiscal year is Oct - Sep.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022
Period Ending	Sep '25 Sep 30, 2025	Sep '24 Sep 30, 2024	Sep '23 Sep 30, 2023	Sep '22 Sep 30, 2022
Net Income	70.54	-29.06	-147.42	-89.54
Depreciation & Amortization	3.2	9.01	0.04	0.48
Other Amortization	36.1	3.87	-	-
Loss (Gain) From Sale of Assets	3.01	-	-	-
Other Operating Activities	-28.01	5.45	4.83	3.1
Change in Accounts Receivable	-48.44	-36.41	-28.94	-18.82
Change in Accounts Payable	6.26	9.29	1.62	3.19
Change in Unearned Revenue	0.19	-4.31	-11.15	8.62
Change in Other Net Operating Assets	3.04	10.25	3.87	17.25
Operating Cash Flow	45.9	-31.91	-177.15	-75.73
Capital Expenditures	-8.73	-9.83	-6.65	-
Sale (Purchase) of Intangibles	-93.81	-89.83	-	-
Other Investing Activities	-0	-	-25.1	-
Investing Cash Flow	-102.54	-99.66	-31.75	-
Short-Term Debt Issued	-	200	450	400
Total Debt Issued	-	200	450	400
Short-Term Debt Repaid	-200	-450	-260	-150
Long-Term Debt Repaid	-	-2.34	-2.86	-3.12
Total Debt Repaid	-200	-452.34	-262.86	-153.12
Net Debt Issued (Repaid)	-200	-252.34	187.14	246.88
Issuance of Common Stock	257.17	447.79	0.08	-
Other Financing Activities	-7.43	-	-	-
Financing Cash Flow	49.74	195.45	187.22	246.88
Miscellaneous Cash Flow Adjustments	0	-0	-0	-0
Net Cash Flow	-6.9	63.88	-21.68	171.15
Free Cash Flow	37.17	-41.74	-183.8	-75.73
Free Cash Flow Margin	3.73%	-6.57%	-43.64%	-25.24%
Free Cash Flow Per Share	22.26	-33.99	-165.42	-68.16
Cash Interest Paid	0.29	4.86	3.46	1.61
Cash Income Tax Paid	5.71	0.18	0.18	0.18
Levered Free Cash Flow	-68.07	-115.94	-131	-
Unlevered Free Cash Flow	-67.71	-113.31	-128.73	-
Change in Working Capital	-38.94	-21.17	-34.6	10.24

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