Kaizen Platform 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	-113	12	-216	-25	30
Depreciation & Amortization	216	253	256	175	95
Loss (Gain) From Sale of Assets	120	-	89	-	5
Loss (Gain) From Sale of Investments	-	-	-	-2	-
Loss (Gain) on Equity Investments	-	-	5	14	5
Other Operating Activities	-12	-98	-68	-12	-
Change in Accounts Receivable	15	-80	39	-81	-26
Change in Inventory	-	-	-4	-1	-
Change in Accounts Payable	-1	-17	-24	10	34
Change in Other Net Operating Assets	-9	8	50	-62	-23
Operating Cash Flow	216	78	127	16	120
Operating Cash Flow Growth	176.92%	-38.58%	693.75%	-86.67%	-
Capital Expenditures	-16	-9	-9	-1	-3
Sale of Property, Plant & Equipment	2	-	-	-	-
Cash Acquisitions	-	-	-243	-294	-49
Divestitures	-	23	-	-	-
Sale (Purchase) of Intangibles	-32	-88	-208	-264	-205
Investment in Securities	-85	-783	15	-21	-
Other Investing Activities	2	38	-1	-	-8
Investing Cash Flow	-129	-819	-446	-580	-265
Short-Term Debt Issued	-	-	283	-	-
Long-Term Debt Issued	610	70	200	421	250
Total Debt Issued	610	70	483	421	250
Short-Term Debt Repaid	-	-283	-	-	-
Long-Term Debt Repaid	-294	-525	-	-	-
Total Debt Repaid	-294	-808	-	-	-
Net Debt Issued (Repaid)	316	-738	483	421	250
Issuance of Common Stock	5	9	21	431	1,639
Other Financing Activities	-211	-179	1	-	-3
Financing Cash Flow	110	-908	505	852	1,886
Foreign Exchange Rate Adjustments	32	4	145	58	-11
Miscellaneous Cash Flow Adjustments	1	1	-	-1	-
Net Cash Flow	230	-1,644	331	345	1,730
Free Cash Flow	200	69	118	15	117
Free Cash Flow Growth	189.85%	-41.52%	686.67%	-87.18%	-
Free Cash Flow Margin	4.42%	1.59%	4.42%	0.66%	6.94%
Free Cash Flow Per Share	11.82	4.10	7.11	0.95	12.31
Cash Interest Paid	8	13	10	6	1
Cash Income Tax Paid	20	68	67	10	2
Levered Free Cash Flow	157.88	-20.75	-17.63	-195	-79.63
Unlevered Free Cash Flow	162.88	-12.63	-11.38	-191.25	-79
Change in Working Capital	5	-89	61	-134	-15

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