ULS Group Cash Flow Statement

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

Millions JPY. Fiscal year is Apr - Mar.

Fiscal Year	FY 2026	FY 2025	FY 2024	FY 2023	FY 2022
Period Ending	Mar '26 Mar 31, 2026	Mar '25 Mar 31, 2025	Mar '24 Mar 31, 2024	Mar '23 Mar 31, 2023	Mar '22 Mar 31, 2022
Net Income	3,063	2,638	1,758	1,924	1,607
Depreciation & Amortization	154	95	89	69	53
Loss (Gain) From Sale of Investments	-	-	-	-197	-
Other Operating Activities	-1,213	-696	-736	-631	-589
Change in Accounts Receivable	-352	-1,158	-908	-554	-439
Change in Inventory	-	-	-	-	3
Change in Accounts Payable	-18	334	147	49	-73
Change in Other Net Operating Assets	360	374	406	177	6
Operating Cash Flow	1,994	1,587	756	837	568
Operating Cash Flow Growth	25.65%	109.92%	-9.68%	47.36%	-46.57%
Capital Expenditures	-390	-90	-64	-150	-54
Sale (Purchase) of Intangibles	-3	-	-	-2	-6
Investment in Securities	-	-	-	197	-
Other Investing Activities	-138	-132	-34	-	-25
Investing Cash Flow	-531	-222	-98	45	-85
Issuance of Common Stock	196	-	7	50	10
Repurchase of Common Stock	-	-	-	-599	-
Common Dividends Paid	-329	-247	-247	-201	-179
Other Financing Activities	-7	-2	1	-2	-
Financing Cash Flow	-140	-249	-239	-752	-169
Miscellaneous Cash Flow Adjustments	-	-1	-1	-1	-2
Net Cash Flow	1,323	1,115	418	129	312
Free Cash Flow	1,604	1,497	692	687	514
Free Cash Flow Growth	7.15%	116.33%	0.73%	33.66%	-48.91%
Free Cash Flow Margin	9.66%	11.34%	6.67%	8.07%	6.98%
Free Cash Flow Per Share	27.47	26.28	12.52	12.37	9.05
Cash Income Tax Paid	1,215	699	737	631	590
Levered Free Cash Flow	1,366	1,344	595.75	672	483.38
Unlevered Free Cash Flow	1,366	1,344	595.75	672	483.38
Change in Working Capital	-10	-450	-355	-328	-503

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