NEXTAGE Cash Flow Statement

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

Millions JPY. Fiscal year is Dec - Nov.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Nov '25 Nov 30, 2025	Nov '24 Nov 30, 2024	Nov '23 Nov 30, 2023	Nov '22 Nov 30, 2022	Nov '21 Nov 30, 2021
Net Income	12,811	11,204	15,533	18,765	13,301
Depreciation & Amortization	6,615	6,038	4,267	2,951	3,933
Loss (Gain) From Sale of Assets	-	1,071	240	314	89
Asset Writedown & Restructuring Costs	885	-	-	-	-
Other Operating Activities	3,523	-4,474	-5,805	-4,710	-2,151
Change in Accounts Receivable	-8,509	97	1,354	-6,682	-870
Change in Inventory	-12,702	-12,349	13,842	-31,383	-8,569
Change in Accounts Payable	4,948	2,244	-452	1,893	-996
Change in Other Net Operating Assets	1,616	-807	4,710	999	-1,523
Operating Cash Flow	9,187	3,024	33,689	-17,853	3,214
Operating Cash Flow Growth	203.80%	-91.02%	-	-	-83.32%
Capital Expenditures	-6,096	-14,023	-20,401	-12,556	-7,349
Cash Acquisitions	-	-4,342	-	-	-
Sale (Purchase) of Intangibles	-546	-163	-89	-96	-90
Investment in Securities	-	-	-	30	-30
Other Investing Activities	-689	74	-3,187	-1,209	-662
Investing Cash Flow	-7,331	-18,454	-23,677	-13,831	-8,256
Short-Term Debt Issued	-	-	1,206	14,468	179
Long-Term Debt Issued	15,400	44,545	9,000	17,500	5,500
Total Debt Issued	15,400	44,545	10,206	31,968	5,679
Short-Term Debt Repaid	-11,728	-5,508	-	-	-
Long-Term Debt Repaid	-17,244	-15,718	-9,177	-6,362	-7,130
Total Debt Repaid	-28,972	-21,226	-9,177	-6,362	-7,130
Net Debt Issued (Repaid)	-13,572	23,319	1,029	25,606	-1,451
Issuance of Common Stock	752	941	937	4,688	2,489
Repurchase of Common Stock	-4,399	-	-	-	-
Common Dividends Paid	-2,660	-2,578	-1,933	-1,171	-527
Other Financing Activities	-2	-315	-260	-311	-194
Financing Cash Flow	-19,881	21,367	-227	28,812	317
Miscellaneous Cash Flow Adjustments	1	-	-1	-	1
Net Cash Flow	-18,024	5,937	9,784	-2,872	-4,724
Free Cash Flow	3,091	-10,999	13,288	-30,409	-4,135
Free Cash Flow Margin	0.47%	-1.99%	2.87%	-7.27%	-1.42%
Free Cash Flow Per Share	39.00	-137.24	166.68	-384.83	-53.47
Cash Interest Paid	931	501	273	247	245
Cash Income Tax Paid	3,301	4,474	5,805	4,712	2,151
Levered Free Cash Flow	1,691	-14,641	10,097	-28,736	-5,098
Unlevered Free Cash Flow	2,273	-14,328	10,267	-28,582	-4,944
Change in Working Capital	-14,647	-10,815	19,454	-35,173	-11,958

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