A.D.Works Group 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	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Net Income	5,190	2,547	2,066	910	650
Depreciation & Amortization	231	193	149	134	125
Loss (Gain) From Sale of Assets	-	1	-	43	-
Loss (Gain) From Sale of Investments	-141	-40	-87	-	-
Loss (Gain) on Equity Investments	-	36	-	-	-
Other Operating Activities	-1,218	-1,034	-125	-359	-163
Change in Accounts Receivable	-160	4	32	52	6
Change in Inventory	-8,467	165	-3,079	-12,262	-4,043
Change in Accounts Payable	-282	-340	610	47	-159
Change in Other Net Operating Assets	-1,107	193	-249	-19	-851
Operating Cash Flow	-5,954	1,725	-683	-11,454	-4,435
Capital Expenditures	-1,233	-393	-35	-14	-5
Sale (Purchase) of Intangibles	-94	-64	-399	-51	-12
Investment in Securities	9	144	229	-438	-130
Other Investing Activities	-17	-16	59	-4	-4
Investing Cash Flow	-1,335	-329	-146	142	-151
Short-Term Debt Issued	1,365	743	990	164	600
Long-Term Debt Issued	53,667	34,596	27,638	27,111	16,478
Total Debt Issued	55,032	35,339	28,628	27,275	17,078
Short-Term Debt Repaid	-1,161	-1,090	-282	-150	-386
Long-Term Debt Repaid	-43,555	-33,638	-26,180	-17,827	-12,716
Total Debt Repaid	-44,716	-34,728	-26,462	-17,977	-13,102
Net Debt Issued (Repaid)	10,316	611	2,166	9,298	3,976
Issuance of Common Stock	120	25	49	281	970
Repurchase of Common Stock	-	-99	-	-	-
Common Dividends Paid	-564	-442	-390	-163	-106
Other Financing Activities	-972	-1,297	1,182	658	419
Financing Cash Flow	8,900	-1,202	3,007	10,074	5,259
Foreign Exchange Rate Adjustments	-40	142	127	258	179
Miscellaneous Cash Flow Adjustments	-	-1	-1	-	188
Net Cash Flow	1,571	335	2,304	-980	1,040
Free Cash Flow	-7,187	1,332	-718	-11,468	-4,440
Free Cash Flow Margin	-10.64%	2.67%	-1.74%	-41.17%	-17.79%
Free Cash Flow Per Share	-146.30	27.37	-14.95	-246.25	-102.32
Cash Interest Paid	734	588	513	352	263
Cash Income Tax Paid	1,214	1,038	124	368	200
Levered Free Cash Flow	-6,566	1,783	6,672	-10,394	-4,273
Unlevered Free Cash Flow	-6,109	2,153	6,994	-10,169	-4,109
Change in Working Capital	-10,016	22	-2,686	-12,182	-5,047

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