Medical Net Cash Flow Statement

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

Millions JPY. Fiscal year is Jun - May.

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

Updated Feb 28, 2026. Source: S&P Global Market Intelligence. Standard template. Financial Sources.