Internet Initiative Japan Cash Flow Statement

Financials in millions JPY. Fiscal year is April - March.

Millions JPY. Fiscal year is Apr - Mar.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar '25 Mar 31, 2025	Mar '24 Mar 31, 2024	Mar '23 Mar 31, 2023	Mar '22 Mar 31, 2022	Mar '21 Mar 31, 2021
Net Income	29,184	28,934	27,309	24,162	14,034
Depreciation & Amortization	31,372	29,296	28,801	28,444	27,973
Loss (Gain) From Sale of Assets	92	138	-127	218	634
Loss (Gain) on Equity Investments	414	465	204	2,334	407
Other Operating Activities	-10,077	-8,711	-10,517	-8,936	-4,355
Change in Accounts Receivable	-10,745	-4,053	-3,432	-1,403	-2,151
Change in Inventory	-1,390	146	-565	-423	312
Change in Accounts Payable	4,331	2,315	1,417	551	1,071
Change in Other Net Operating Assets	-14,653	-7,750	-4,561	-1,375	2,619
Operating Cash Flow	28,528	40,780	38,529	43,572	40,544
Operating Cash Flow Growth	-30.04%	5.84%	-11.57%	7.47%	21.41%
Capital Expenditures	-11,904	-11,744	-11,787	-6,783	-6,390
Sale of Property, Plant & Equipment	1,794	684	1,546	2,150	2,499
Cash Acquisitions	-1,925	-29	-261	-2,612	-4,754
Divestitures	-	-	-	780	60
Sale (Purchase) of Intangibles	-8,211	-6,575	-5,471	-4,734	-4,572
Investment in Securities	-1,289	-24	-2,387	-611	222
Other Investing Activities	-214	-239	-26	-28	-280
Investing Cash Flow	-21,749	-17,927	-18,386	-11,838	-13,215
Short-Term Debt Issued	7,000	11,800	-	1,480	-
Long-Term Debt Issued	-	-	178	-	-
Total Debt Issued	7,000	11,800	178	1,480	-
Short-Term Debt Repaid	-	-	-100	-	-360
Long-Term Debt Repaid	-3,563	-2,060	-1,515	-5,170	-1,830
Total Debt Repaid	-3,563	-2,060	-1,615	-5,170	-2,190
Net Debt Issued (Repaid)	3,437	9,740	-1,437	-3,690	-2,190
Repurchase of Common Stock	-	-11,405	-	-	-
Common Dividends Paid	-6,134	-5,682	-4,901	-3,836	-1,533
Other Financing Activities	-16,970	-13,450	-19,393	-19,769	-19,894
Financing Cash Flow	-19,667	-20,797	-25,731	-27,295	-23,617
Foreign Exchange Rate Adjustments	-52	946	669	484	84
Miscellaneous Cash Flow Adjustments	-	-	-	-	-1
Net Cash Flow	-12,940	3,002	-4,919	4,923	3,795
Free Cash Flow	16,624	29,036	26,742	36,789	34,154
Free Cash Flow Growth	-42.75%	8.58%	-27.31%	7.71%	30.38%
Free Cash Flow Margin	5.25%	10.52%	10.58%	16.25%	16.04%
Free Cash Flow Per Share	93.49	162.86	147.28	202.75	188.39
Cash Interest Paid	1,171	625	529	526	580
Cash Income Tax Paid	9,764	8,130	9,958	5,699	3,911
Levered Free Cash Flow	17,697	25,786	21,647	30,961	27,486
Unlevered Free Cash Flow	18,312	26,136	21,957	31,281	27,833
Change in Working Capital	-22,457	-9,342	-7,141	-2,650	1,851

Updated Dec 31, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.