Cluster Technology Cash Flow Statement

Financials in millions JPY. Fiscal year is April - March.

Millions JPY. Fiscal year is Apr - Mar.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	2016 - 2020
Period Ending	Sep '25 Sep 30, 2025	Mar '25 Mar 31, 2025	Mar '24 Mar 31, 2024	Mar '23 Mar 31, 2023	Mar '22 Mar 31, 2022	Mar '21 Mar 31, 2021	2016 - 2020
Net Income	204	110	70	74	102	37	Upgrade
Depreciation & Amortization	59	56	62	44	27	23	Upgrade
Other Operating Activities	-19	-17	-7	-21	-3	-9	Upgrade
Change in Accounts Receivable	-78	-1	-21	-3	-19	24	Upgrade
Change in Inventory	20	11	-39	-21	-14	13	Upgrade
Change in Accounts Payable	20	-1	38	-36	24	8	Upgrade
Change in Other Net Operating Assets	29	-10	15	-10	3	10	Upgrade
Operating Cash Flow	235	148	118	27	120	106	Upgrade
Operating Cash Flow Growth	183.13%	25.42%	337.04%	-77.50%	13.21%	-	Upgrade
Capital Expenditures	-56	-35	-96	-90	-43	-14	Upgrade
Sale (Purchase) of Intangibles	-14	-14	-2	-5	-	-	Upgrade
Investment in Securities	-110	-	-	-	-	-	Upgrade
Investing Cash Flow	-180	-49	-98	-95	-43	-14	Upgrade
Other Financing Activities	-2	-2	-2	-2	-2	-1	Upgrade
Financing Cash Flow	-24	-2	-2	-2	-2	-1	Upgrade
Miscellaneous Cash Flow Adjustments	-	-1	-1	-	-	-1	Upgrade
Net Cash Flow	31	96	17	-70	75	90	Upgrade
Free Cash Flow	179	113	22	-63	77	92	Upgrade
Free Cash Flow Growth	159.42%	413.64%	-	-	-16.30%	-	Upgrade
Free Cash Flow Margin	14.35%	11.06%	2.40%	-6.81%	8.51%	12.50%	Upgrade
Free Cash Flow Per Share	31.44	19.85	3.87	-11.07	13.53	16.16	Upgrade
Cash Income Tax Paid	17	15	8	20	2	11	Upgrade
Levered Free Cash Flow	151.63	80.5	-76.5	-19.38	63.5	80.25	Upgrade
Unlevered Free Cash Flow	151.63	80.5	-76.5	-19.38	63.5	80.25	Upgrade
Change in Working Capital	-9	-1	-7	-70	-6	55	Upgrade

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