Ray Corporation Cash Flow Statement

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

Millions JPY. Fiscal year is Mar - Feb.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Feb '25 Feb 28, 2025	Feb '24 Feb 29, 2024	Feb '23 Feb 28, 2023	Feb '22 Feb 28, 2022	Feb '21 Feb 28, 2021
Net Income	1,038	1,217	1,215	855	-506
Depreciation & Amortization	521	458	467	514	596
Loss (Gain) From Sale of Assets	8	-	6	-	9
Loss (Gain) From Sale of Investments	3	-	-	-	-
Loss (Gain) on Equity Investments	-96	-70	-9	16	32
Other Operating Activities	-294	-907	-439	357	-24
Change in Accounts Receivable	932	127	-180	-1,176	1,499
Change in Inventory	-161	-48	28	-23	45
Change in Accounts Payable	-299	151	-203	256	-532
Change in Other Net Operating Assets	34	118	-164	229	-270
Operating Cash Flow	1,686	1,046	721	1,028	849
Operating Cash Flow Growth	61.19%	45.08%	-29.86%	21.08%	-40.63%
Capital Expenditures	-842	-662	-170	-87	-95
Sale (Purchase) of Intangibles	-	-	-8	-2	-3
Investment in Securities	9	2	8	16	-31
Other Investing Activities	-3	-8	-	24	-20
Investing Cash Flow	-836	-668	-170	-49	-149
Short-Term Debt Issued	5,140	6,750	8,530	11,460	11,060
Long-Term Debt Issued	-	-	-	-	100
Total Debt Issued	5,140	6,750	8,530	11,460	11,160
Short-Term Debt Repaid	-5,320	-6,890	-9,080	-11,460	-10,510
Long-Term Debt Repaid	-	-25	-50	-25	-
Total Debt Repaid	-5,320	-6,915	-9,130	-11,485	-10,510
Net Debt Issued (Repaid)	-180	-165	-600	-25	650
Repurchase of Common Stock	-309	-117	-	-	-
Common Dividends Paid	-210	-214	-142	-71	-71
Other Financing Activities	-114	-190	-276	-292	-316
Financing Cash Flow	-813	-686	-1,018	-388	263
Miscellaneous Cash Flow Adjustments	-1	-	-	-1	-
Net Cash Flow	36	-308	-467	590	963
Free Cash Flow	844	384	551	941	754
Free Cash Flow Growth	119.79%	-30.31%	-41.45%	24.80%	-18.84%
Free Cash Flow Margin	8.07%	3.42%	4.43%	8.52%	10.70%
Free Cash Flow Per Share	61.23	26.88	38.45	65.67	52.62
Cash Interest Paid	5	5	7	7	6
Cash Income Tax Paid	295	814	439	-221	234
Levered Free Cash Flow	847.88	284.38	828.63	1,035	545
Unlevered Free Cash Flow	851	287.5	833	1,040	548.13
Change in Working Capital	506	348	-519	-714	742

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