BroadBand Tower 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	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Net Income	549	471	-215	-90	-388
Depreciation & Amortization	938	1,163	1,257	1,552	1,461
Loss (Gain) From Sale of Assets	271	196	4	1,267	110
Loss (Gain) From Sale of Investments	81	169	52	-1,225	605
Loss (Gain) on Equity Investments	-6	-17	4	21	-
Other Operating Activities	-149	69	-93	-143	-165
Change in Accounts Receivable	-295	183	-237	294	-189
Change in Inventory	101	1	-46	309	-184
Change in Accounts Payable	-153	179	157	66	-6
Change in Other Net Operating Assets	2	347	-146	-323	351
Operating Cash Flow	1,339	2,761	737	1,728	1,595
Operating Cash Flow Growth	-51.50%	274.63%	-57.35%	8.34%	-30.17%
Capital Expenditures	-830	-548	-804	-1,183	-1,097
Cash Acquisitions	-	-	-	-	-320
Divestitures	-	-	146	75	229
Sale (Purchase) of Intangibles	-65	-9	-33	-43	-92
Investment in Securities	-905	-27	106	1,228	-170
Other Investing Activities	5	-1	-10	224	31
Investing Cash Flow	-1,795	-585	-595	301	-1,419
Long-Term Debt Issued	300	300	200	951	-
Total Debt Issued	300	300	200	951	-
Long-Term Debt Repaid	-871	-1,005	-1,082	-1,146	-1,340
Total Debt Repaid	-871	-1,005	-1,082	-1,146	-1,340
Net Debt Issued (Repaid)	-571	-705	-882	-195	-1,340
Issuance of Common Stock	-	-	-	13	-
Common Dividends Paid	-124	-123	-123	-122	-120
Other Financing Activities	41	91	9	-258	697
Financing Cash Flow	-654	-737	-996	-562	-763
Foreign Exchange Rate Adjustments	-	-	-	-	4
Miscellaneous Cash Flow Adjustments	-	-1	-	-	-
Net Cash Flow	-1,110	1,438	-854	1,467	-583
Free Cash Flow	509	2,213	-67	545	498
Free Cash Flow Growth	-77.00%	-	-	9.44%	-71.83%
Free Cash Flow Margin	3.33%	16.49%	-0.51%	3.86%	3.21%
Free Cash Flow Per Share	8.29	35.56	-1.09	8.93	8.31
Cash Interest Paid	39	33	37	42	48
Cash Income Tax Paid	166	-57	95	160	167
Levered Free Cash Flow	199.88	1,900	-25.25	1,150	113.75
Unlevered Free Cash Flow	224.88	1,921	-2.13	1,176	143.75
Change in Working Capital	-345	710	-272	346	-28

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