MUGEN ESTATE Cash Flow Statement

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

Millions JPY. Fiscal year is Jan - Dec.

Fiscal Year	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	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	8,853	5,222	2,278	1,776	1,808
Depreciation & Amortization	832	742	686	655	910
Loss (Gain) From Sale of Assets	-2	-	30	-6	15
Loss (Gain) From Sale of Investments	7	13	-	-	-
Other Operating Activities	-2,188	-996	-431	-803	-506
Change in Accounts Receivable	-28	-12	-3	-3	2
Change in Inventory	-5,923	-410	-14,890	2,270	8,524
Change in Accounts Payable	-98	211	143	-156	-233
Change in Other Net Operating Assets	1,147	604	696	-426	461
Operating Cash Flow	2,600	5,374	-11,491	3,307	10,981
Operating Cash Flow Growth	-51.62%	-	-	-69.88%	235.19%
Capital Expenditures	-176	-510	-145	-1,162	-1,778
Sale of Property, Plant & Equipment	3	-	-	28	9
Sale (Purchase) of Intangibles	-	-5	-10	-10	-9
Investment in Securities	-129	48	11	-54	9
Other Investing Activities	-10	-31	-13	-20	-175
Investing Cash Flow	-312	-498	-157	-1,218	-1,944
Short-Term Debt Issued	-	3,129	1,284	2,689	-
Long-Term Debt Issued	27,756	20,703	26,435	18,263	14,904
Total Debt Issued	27,756	23,832	27,719	20,952	14,904
Short-Term Debt Repaid	-1,334	-	-	-	-186
Long-Term Debt Repaid	-25,263	-25,512	-15,313	-21,232	-20,572
Total Debt Repaid	-26,597	-25,512	-15,313	-21,232	-20,758
Net Debt Issued (Repaid)	1,159	-1,680	12,406	-280	-5,854
Repurchase of Common Stock	-500	-	-198	-101	-76
Common Dividends Paid	-1,484	-469	-356	-239	-722
Other Financing Activities	-	-4	-5	-1	-4
Financing Cash Flow	-825	-2,153	11,847	-621	-6,656
Miscellaneous Cash Flow Adjustments	-1	-1	-	-2	-1
Net Cash Flow	1,462	2,722	199	1,466	2,380
Free Cash Flow	2,424	4,864	-11,636	2,145	9,203
Free Cash Flow Growth	-50.16%	-	-	-76.69%	268.71%
Free Cash Flow Margin	3.90%	9.42%	-37.24%	6.32%	26.40%
Free Cash Flow Per Share	102.74	205.47	-492.02	89.00	381.89
Cash Interest Paid	750	723	649	534	662
Cash Income Tax Paid	2,189	1,002	444	789	516
Levered Free Cash Flow	-312.38	3,153	-12,452	5,341	9,223
Unlevered Free Cash Flow	157	3,605	-12,042	5,665	9,641
Change in Working Capital	-4,902	393	-14,054	1,685	8,754

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