Medical Net Cash Flow Statement

Financials in millions JPY. Fiscal year is June - May.

Millions JPY. Fiscal year is Jun - May.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Nov '25 Nov 30, 2025	May '25 May 31, 2025	May '24 May 31, 2024	May '23 May 31, 2023	May '22 May 31, 2022	May '21 May 31, 2021
Net Income	131	25	153	250	538	254
Depreciation & Amortization	77	76	53	61	29	24
Loss (Gain) From Sale of Assets	153	154	165	141	-	-
Loss (Gain) From Sale of Investments	-352	-352	4	40	-	81
Other Operating Activities	-92	-122	-159	-158	-159	-20
Change in Accounts Receivable	105	-62	-115	-30	-44	-27
Change in Inventory	-7	-95	-72	5	-28	-1
Change in Accounts Payable	-65	-98	45	62	24	61
Change in Other Net Operating Assets	272	394	45	58	-18	19
Operating Cash Flow	222	-80	119	429	342	391
Operating Cash Flow Growth	14.43%	-	-72.26%	25.44%	-12.53%	401.28%
Capital Expenditures	-119	-131	-32	-19	-2	-13
Sale of Property, Plant & Equipment	2	-	5	4	-	-
Cash Acquisitions	-33	-33	-224	-	-340	-48
Divestitures	-52	-52	-	-	-	-
Investment in Securities	17	-	-	-27	-3	-21
Other Investing Activities	-33	-36	-37	-23	-13	-10
Investing Cash Flow	-225	-259	-285	-62	-355	-87
Short-Term Debt Issued	-	299	-	50	390	-
Long-Term Debt Issued	-	130	360	-	-	100
Total Debt Issued	381	429	360	50	390	100
Short-Term Debt Repaid	-	-	-150	-	-	-110
Long-Term Debt Repaid	-	-79	-37	-33	-74	-18
Total Debt Repaid	-74	-79	-187	-33	-74	-128
Net Debt Issued (Repaid)	307	350	173	17	316	-28
Repurchase of Common Stock	-	-99	-	-	-	-
Common Dividends Paid	-26	-26	-22	-35	-34	-6
Other Financing Activities	-6	-6	-7	1	-	-
Financing Cash Flow	431	219	144	-17	282	-34
Foreign Exchange Rate Adjustments	51	17	16	35	-9	2
Miscellaneous Cash Flow Adjustments	1	-1	1	-1	-	-
Net Cash Flow	480	-104	-5	384	260	272
Free Cash Flow	103	-211	87	410	340	378
Free Cash Flow Growth	-33.55%	-	-78.78%	20.59%	-10.05%	440.00%
Free Cash Flow Margin	1.59%	-3.47%	1.66%	9.11%	9.08%	11.35%
Free Cash Flow Per Share	11.48	-23.64	9.62	45.76	38.85	44.77
Cash Interest Paid	12	11	6	3	1	1
Cash Income Tax Paid	92	123	158	159	160	26
Levered Free Cash Flow	112.13	-160	89.13	372	174.63	329.25
Unlevered Free Cash Flow	119.63	-153.13	92.88	373.88	175.25	329.88
Change in Working Capital	305	139	-97	95	-66	52

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