ULS Group 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	2,638	1,758	1,924	1,607	1,419
Depreciation & Amortization	95	89	69	53	46
Loss (Gain) From Sale of Investments	-	-	-197	-	-
Other Operating Activities	-696	-736	-631	-589	-495
Change in Accounts Receivable	-1,158	-908	-554	-439	-29
Change in Inventory	-	-	-	3	-13
Change in Accounts Payable	334	147	49	-73	55
Change in Other Net Operating Assets	374	406	177	6	80
Operating Cash Flow	1,587	756	837	568	1,063
Operating Cash Flow Growth	109.92%	-9.68%	47.36%	-46.57%	20.39%
Capital Expenditures	-90	-64	-150	-54	-57
Cash Acquisitions	-	-	-	-	57
Sale (Purchase) of Intangibles	-	-	-2	-6	-
Investment in Securities	-	-	197	-	-
Other Investing Activities	-132	-34	-	-25	-
Investing Cash Flow	-222	-98	45	-85	-
Issuance of Common Stock	-	7	50	10	6
Repurchase of Common Stock	-	-	-599	-	-160
Common Dividends Paid	-247	-247	-201	-179	-147
Other Financing Activities	-2	1	-2	-	-20
Financing Cash Flow	-249	-239	-752	-169	-321
Miscellaneous Cash Flow Adjustments	-1	-1	-1	-2	1
Net Cash Flow	1,115	418	129	312	743
Free Cash Flow	1,497	692	687	514	1,006
Free Cash Flow Growth	116.33%	0.73%	33.66%	-48.91%	14.97%
Free Cash Flow Margin	11.34%	6.67%	8.07%	6.98%	13.99%
Free Cash Flow Per Share	26.28	12.52	12.37	9.05	17.91
Cash Income Tax Paid	699	737	631	590	498
Levered Free Cash Flow	1,344	595.75	672	483.38	1,090
Unlevered Free Cash Flow	1,344	595.75	672	483.38	1,090
Change in Working Capital	-450	-355	-328	-503	93

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