Axis Co.,Ltd. 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	642.85	597.78	462.43	563	527
Depreciation & Amortization	46.12	45.82	49.34	41	40
Asset Writedown & Restructuring Costs	-	-	1.94	-	-
Stock-Based Compensation	1.23	-	-	-	-
Provision & Write-off of Bad Debts	-0.38	-0.28	-0.07	-	-
Other Operating Activities	-18.51	3.11	12.45	-191	-168
Change in Accounts Receivable	-189.41	-127.68	-136.7	-83	-62
Change in Inventory	26.17	-30.72	-14.01	21	-5
Change in Accounts Payable	11.7	19.58	58.17	49	-12
Change in Other Net Operating Assets	102.66	49.2	44.61	73	-2
Operating Cash Flow	622.42	556.82	478.16	473	318
Operating Cash Flow Growth	11.78%	16.45%	1.09%	48.74%	-
Capital Expenditures	-1.02	-1.38	-41.18	-26	-3
Sale of Property, Plant & Equipment	-	-	-	-	46
Cash Acquisitions	-	-	-	-	-265
Sale (Purchase) of Intangibles	-27.65	-3.57	-	-	-4
Investment in Securities	-50.15	-	-	-	-
Other Investing Activities	-3.28	39.91	-24.89	-35	-17
Investing Cash Flow	-82.09	34.96	-66.07	-61	-243
Long-Term Debt Issued	-	-	-	-	150
Long-Term Debt Repaid	-	-	-	-116	-172
Net Debt Issued (Repaid)	-	-	-	-116	-22
Issuance of Common Stock	20.51	37.27	31.04	17	6
Repurchase of Common Stock	-0.08	-	-	-	-
Common Dividends Paid	-152.34	-74.49	-40.6	-20	-
Other Financing Activities	-	-	0	-	1
Financing Cash Flow	-131.91	-37.22	-9.56	-119	-15
Foreign Exchange Rate Adjustments	-0.83	1.84	1.04	1	1
Miscellaneous Cash Flow Adjustments	-	0	127.39	-	-
Net Cash Flow	407.58	556.39	530.95	294	61
Free Cash Flow	621.4	555.44	436.98	447	315
Free Cash Flow Growth	11.88%	27.11%	-2.24%	41.91%	-
Free Cash Flow Margin	7.64%	7.47%	6.64%	7.64%	6.60%
Free Cash Flow Per Share	142.32	127.68	101.38	104.11	72.79
Cash Income Tax Paid	294.01	226.02	188.5	194	166
Levered Free Cash Flow	476.04	459.34	-	396	-
Unlevered Free Cash Flow	476.04	459.34	-	396	-
Change in Working Capital	-48.89	-89.61	-47.93	60	-81

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