Japan Tobacco Cash Flow Statement

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

Millions JPY. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020
Net Income	532,704	233,766	621,601	593,450	472,390	310,253
Depreciation & Amortization	195,865	179,837	179,652	199,651	187,057	187,416
Other Amortization	-	-	-	-	-	11,905
Loss (Gain) From Sale of Assets	-5,330	9,996	-3,100	22,648	18,794	-40,821
Asset Writedown & Restructuring Costs	32,971	-	-	-	-	12,571
Loss (Gain) From Sale of Investments	-	-1,722	104	-849	-	-
Loss (Gain) on Equity Investments	-14,744	-12,885	-8,332	-8,009	-3,997	-4,042
Other Operating Activities	98,463	-154,659	-158,546	-191,444	-132,018	-24,111
Change in Accounts Receivable	-7,015	45,770	-30,169	26,574	-29,891	21,554
Change in Inventory	-109,828	-96,566	-136,232	-93,910	9,770	748
Change in Accounts Payable	11,274	-37,122	167,034	-24,723	141,223	39,288
Change in Other Net Operating Assets	-209,367	463,596	-64,998	-39,589	-64,419	5,072
Operating Cash Flow	524,993	630,011	567,014	483,799	598,909	519,833
Operating Cash Flow Growth	12.04%	11.11%	17.20%	-19.22%	15.21%	-3.81%
Capital Expenditures	-135,999	-127,769	-94,861	-81,411	-86,350	-85,319
Cash Acquisitions	-297,874	-	-	-	-	-1,140
Divestitures	-	414	1,369	3,026	2,562	-
Sale (Purchase) of Intangibles	-17,893	-22,598	-26,353	-17,997	-16,568	-23,301
Sale (Purchase) of Real Estate	6,966	-	-	-	-	86,263
Investment in Securities	-26,179	-32,458	-28,647	-17,954	-3,878	27,067
Other Investing Activities	2,576	-257,355	22,363	12,514	6,735	1,784
Investing Cash Flow	-468,403	-439,766	-126,129	-101,822	-97,499	5,354
Short-Term Debt Issued	-	-	143,042	-	22,887	-
Long-Term Debt Issued	-	678,996	62,685	70,697	58,629	222,302
Total Debt Issued	1,273,032	678,996	205,727	70,697	81,516	222,302
Short-Term Debt Repaid	-	-150,105	-	-27,610	-	-132,462
Long-Term Debt Repaid	-	-245,260	-83,103	-72,849	-160,353	-109,689
Total Debt Repaid	-1,041,352	-395,365	-83,103	-100,459	-160,353	-242,151
Net Debt Issued (Repaid)	231,680	283,631	122,624	-29,762	-78,837	-19,849
Repurchase of Common Stock	-1,622	-2	-1	-1	-1	-1
Common Dividends Paid	-357,043	-349,645	-367,331	-266,175	-251,935	-273,134
Other Financing Activities	-2,443	-28,890	-25,792	-10,238	-22,365	-4,420
Financing Cash Flow	-129,428	-94,906	-270,500	-306,176	-353,138	-297,404
Foreign Exchange Rate Adjustments	9,664	-50,978	2,935	69,353	34,616	-46,098
Miscellaneous Cash Flow Adjustments	-2,210	-	-	-	-1	1
Net Cash Flow	-65,384	44,361	173,320	145,154	182,887	181,686
Free Cash Flow	388,994	502,242	472,153	402,388	512,559	434,514
Free Cash Flow Growth	11.48%	6.37%	17.34%	-21.49%	17.96%	1.27%
Free Cash Flow Margin	11.25%	15.95%	16.62%	15.14%	22.05%	20.77%
Free Cash Flow Per Share	219.07	282.83	265.92	226.65	288.74	244.81
Cash Interest Paid	53,764	33,980	26,324	23,728	19,113	19,549
Cash Income Tax Paid	199,624	160,953	159,088	193,731	141,829	124,511
Levered Free Cash Flow	325,247	193,840	349,801	292,023	413,031	413,336
Unlevered Free Cash Flow	428,754	220,393	367,609	308,911	427,437	427,420
Change in Working Capital	-314,936	375,678	-64,365	-131,648	56,683	66,662

Updated Sep 30, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.