Synspective 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	-1,064	-3,586	-	-
Depreciation & Amortization	1,609	1,097	-	-
Loss (Gain) From Sale of Assets	5	-7	-	-
Other Operating Activities	3,713	205	-	-
Change in Accounts Receivable	-139	-7	-	-
Change in Inventory	-48	111	-	-
Change in Other Net Operating Assets	-2,420	389	-	-
Operating Cash Flow	1,656	-1,798	-	-
Capital Expenditures	-10,908	-7,336	-	-
Sale of Property, Plant & Equipment	-	7	-	-
Sale (Purchase) of Intangibles	-712	-26	-	-
Other Investing Activities	-9	-109	-	-
Investing Cash Flow	-11,629	-7,464	-	-
Short-Term Debt Issued	1,790	-	-	-
Long-Term Debt Issued	500	4,270	-	-
Total Debt Issued	2,290	4,270	-	-
Long-Term Debt Repaid	-195	-12	-	-
Net Debt Issued (Repaid)	2,095	4,258	-	-
Issuance of Common Stock	18,467	15,106	-	-
Other Financing Activities	-292	-332	-	-
Financing Cash Flow	20,270	19,032	-	-
Foreign Exchange Rate Adjustments	4	1	-	-
Miscellaneous Cash Flow Adjustments	1	-	-	-
Net Cash Flow	10,302	9,771	-	-
Free Cash Flow	-9,252	-9,134	-	-
Free Cash Flow Margin	-389.39%	-394.39%	-	-
Free Cash Flow Per Share	-79.90	-108.76	-	-
Cash Interest Paid	408	226	-	-
Cash Income Tax Paid	63	20	-	-
Levered Free Cash Flow	-12,680	-8,228	-	-
Unlevered Free Cash Flow	-12,419	-8,066	-	-
Change in Working Capital	-2,607	493	-	-

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