Headwaters Co.,Ltd Cash Flow Statement

Financials in millions JPY. Fiscal year is January - December.

Millions JPY. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2017	FY 2016	2017 - 2020
Period Ending	Jun '25 Jun 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '17 Dec 31, 2017	Dec '16 Dec 31, 2016	2017 - 2020
Net Income	137	362	98	106	-	-	Upgrade
Depreciation & Amortization	24	20	15	11	-	-	Upgrade
Other Operating Activities	-106	-27	-34	-10	-	-	Upgrade
Change in Accounts Receivable	-165	-270	-26	-130	-	-	Upgrade
Change in Inventory	2	12	-6	5	-	-	Upgrade
Change in Accounts Payable	69	100	40	95	-	-	Upgrade
Change in Other Net Operating Assets	-17	-53	-	7	-	-	Upgrade
Operating Cash Flow	-56	144	87	84	-	-	Upgrade
Operating Cash Flow Growth	-	65.52%	3.57%	-	-	-	Upgrade
Capital Expenditures	-23	-26	-16	-27	-	-	Upgrade
Sale (Purchase) of Intangibles	-	-	-	-13	-	-	Upgrade
Investment in Securities	-72	-72	-	-	-	-	Upgrade
Other Investing Activities	-112	-112	-	9	-	-	Upgrade
Investing Cash Flow	-207	-210	-16	-31	-	-	Upgrade
Issuance of Common Stock	-	10	5	-	-	-	Upgrade
Other Financing Activities	-	-	3	-	-	-	Upgrade
Financing Cash Flow	-	10	8	-	-	-	Upgrade
Foreign Exchange Rate Adjustments	-3	1	-	-	-	-	Upgrade
Miscellaneous Cash Flow Adjustments	-1	1	-	-	-	-	Upgrade
Net Cash Flow	-267	-54	79	53	-	-	Upgrade
Free Cash Flow	-79	118	71	57	-	-	Upgrade
Free Cash Flow Growth	-	66.20%	24.56%	-	-	-	Upgrade
Free Cash Flow Margin	-2.46%	4.06%	3.07%	3.62%	-	-	Upgrade
Free Cash Flow Per Share	-19.83	28.28	17.07	14.13	-	-	Upgrade
Cash Income Tax Paid	105	29	35	16	-	-	Upgrade
Levered Free Cash Flow	-87.13	93.88	53.38	-	-	-	Upgrade
Unlevered Free Cash Flow	-87.13	93.88	53.38	-	-	-	Upgrade
Change in Working Capital	-111	-211	8	-23	-	-	Upgrade

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