Betrend Cash Flow Statement

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

Millions JPY. Fiscal year is Jan - Dec.

Fiscal Year	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020
Net Income	85	98	146	88	105
Depreciation & Amortization	44	51	55	62	58
Loss (Gain) From Sale of Assets	18	-	-	-	-
Other Operating Activities	-20	-57	-25	-37	-24
Change in Accounts Receivable	-14	-19	21	-33	-8
Change in Inventory	1	1	-3	2	-
Change in Accounts Payable	9	-3	-1	-	18
Change in Other Net Operating Assets	18	-26	15	4	20
Operating Cash Flow	141	45	208	86	169
Operating Cash Flow Growth	213.33%	-78.36%	141.86%	-49.11%	-
Capital Expenditures	-6	-2	-3	-5	-3
Sale (Purchase) of Intangibles	-64	-50	-40	-52	-57
Other Investing Activities	-26	-	-1	-89	-1
Investing Cash Flow	-96	-52	-44	-146	-61
Long-Term Debt Repaid	-	-	-9	-16	-18
Net Debt Issued (Repaid)	-	-	-9	-16	-18
Issuance of Common Stock	2	2	5	70	205
Repurchase of Common Stock	-17	-22	-	-	-
Other Financing Activities	-	-	1	-1	-2
Financing Cash Flow	-15	-20	-3	53	185
Miscellaneous Cash Flow Adjustments	-1	-	-	1	-
Net Cash Flow	29	-27	161	-6	293
Free Cash Flow	135	43	205	81	166
Free Cash Flow Growth	213.95%	-79.02%	153.09%	-51.20%	-
Free Cash Flow Margin	11.69%	3.94%	18.84%	7.70%	19.37%
Free Cash Flow Per Share	62.35	19.56	92.25	72.98	163.49
Cash Income Tax Paid	21	56	25	37	24
Levered Free Cash Flow	30	-25.13	139.88	-3.38	106.38
Unlevered Free Cash Flow	30	-25.13	139.88	-3.38	106.38
Change in Working Capital	14	-47	32	-27	30

Updated Sep 30, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.