ZenmuTech 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	160	84	-	-
Depreciation & Amortization	17	15	-	-
Other Operating Activities	-6	-9	-	-
Change in Accounts Receivable	-256	139	-	-
Change in Inventory	1	-2	-	-
Change in Accounts Payable	34	-27	-	-
Change in Other Net Operating Assets	23	42	-	-
Operating Cash Flow	-27	242	-	-
Capital Expenditures	-6	-3	-	-
Sale (Purchase) of Intangibles	-40	-18	-	-
Other Investing Activities	-19	-	-	-
Investing Cash Flow	-65	-21	-	-
Short-Term Debt Issued	100	-	-	-
Total Debt Issued	100	-	-	-
Long-Term Debt Repaid	-130	-25	-	-
Net Debt Issued (Repaid)	-30	-25	-	-
Issuance of Common Stock	407	2	-	-
Other Financing Activities	-4	1	-	-
Financing Cash Flow	373	-22	-	-
Net Cash Flow	281	199	-	-
Free Cash Flow	-33	239	-	-
Free Cash Flow Margin	-3.88%	36.88%	-	-
Free Cash Flow Per Share	-24.34	224.55	-	-
Cash Interest Paid	1	-	-	-
Cash Income Tax Paid	13	11	-	-
Levered Free Cash Flow	-146.25	196.5	-	-
Unlevered Free Cash Flow	-145	196.5	-	-
Change in Working Capital	-198	152	-	-