The Pack Corporation 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	8,859	9,160	7,941	5,925	4,214
Depreciation & Amortization	2,954	2,416	2,082	1,992	2,029
Loss (Gain) From Sale of Assets	9	-23	171	363	195
Loss (Gain) From Sale of Investments	-1,336	-852	-	65	12
Other Operating Activities	-2,997	-2,418	-2,240	-1,596	-505
Change in Accounts Receivable	738	-553	-692	-2,825	-178
Change in Inventory	21	-275	-914	-1,704	152
Change in Accounts Payable	-1,583	-104	66	3,264	1,173
Change in Other Net Operating Assets	197	-250	-1,971	-104	125
Operating Cash Flow	6,862	7,101	4,443	5,380	7,217
Operating Cash Flow Growth	-3.37%	59.82%	-17.42%	-25.45%	128.75%
Capital Expenditures	-2,794	-4,768	-5,581	-3,109	-3,219
Sale of Property, Plant & Equipment	7	84	-	3	8
Sale (Purchase) of Intangibles	-1,157	-919	-1,702	-433	-514
Investment in Securities	7,247	-21	3,465	-153	101
Other Investing Activities	211	188	-144	-70	164
Investing Cash Flow	3,514	-5,436	-3,962	-3,762	-3,460
Long-Term Debt Issued	-	97	-	-	100
Total Debt Issued	-	97	-	-	100
Long-Term Debt Repaid	-173	-48	-25	-25	-45
Total Debt Repaid	-173	-48	-25	-25	-45
Net Debt Issued (Repaid)	-173	49	-25	-25	55
Repurchase of Common Stock	-1,001	-1,013	-	-	-
Common Dividends Paid	-2,329	-2,032	-1,334	-1,043	-1,045
Other Financing Activities	-50	-45	-48	-56	-39
Financing Cash Flow	-3,553	-3,041	-1,407	-1,124	-1,029
Foreign Exchange Rate Adjustments	71	219	86	91	115
Miscellaneous Cash Flow Adjustments	-	1	-	-	-
Net Cash Flow	6,894	-1,156	-840	585	2,843
Free Cash Flow	4,068	2,333	-1,138	2,271	3,998
Free Cash Flow Growth	74.37%	-	-	-43.20%	1750.93%
Free Cash Flow Margin	3.94%	2.30%	-1.17%	2.55%	4.99%
Free Cash Flow Per Share	72.32	41.04	-19.92	39.80	70.08
Cash Interest Paid	7	3	1	1	1
Cash Income Tax Paid	3,013	2,421	2,244	1,608	502
Levered Free Cash Flow	2,333	1,167	-1,648	1,492	2,286
Unlevered Free Cash Flow	2,337	1,169	-1,647	1,492	2,287
Change in Working Capital	-627	-1,182	-3,511	-1,369	1,272

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