Ray Corporation Cash Flow Statement

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

Millions JPY. Fiscal year is Mar - Feb.

Fiscal Year	FY 2026	FY 2025	FY 2024	FY 2023	FY 2022
Period Ending	Feb '26 Feb 28, 2026	Feb '25 Feb 28, 2025	Feb '24 Feb 29, 2024	Feb '23 Feb 28, 2023	Feb '22 Feb 28, 2022
Net Income	1,908	1,038	1,217	1,215	855
Depreciation & Amortization	677	521	458	467	514
Loss (Gain) From Sale of Assets	1	8	-	6	-
Loss (Gain) From Sale of Investments	-	3	-	-	-
Loss (Gain) on Equity Investments	-117	-96	-70	-9	16
Other Operating Activities	-223	-294	-907	-439	357
Change in Accounts Receivable	59	932	127	-180	-1,176
Change in Inventory	-542	-161	-48	28	-23
Change in Accounts Payable	92	-299	151	-203	256
Change in Other Net Operating Assets	486	34	118	-164	229
Operating Cash Flow	2,341	1,686	1,046	721	1,028
Operating Cash Flow Growth	38.85%	61.19%	45.08%	-29.86%	21.08%
Capital Expenditures	-1,386	-842	-662	-170	-87
Sale of Property, Plant & Equipment	14	-	-	-	-
Sale (Purchase) of Intangibles	-1	-	-	-8	-2
Investment in Securities	-7	9	2	8	16
Other Investing Activities	-131	-3	-8	-	24
Investing Cash Flow	-1,511	-836	-668	-170	-49
Short-Term Debt Issued	4,000	5,140	6,750	8,530	11,460
Total Debt Issued	4,000	5,140	6,750	8,530	11,460
Short-Term Debt Repaid	-4,200	-5,320	-6,890	-9,080	-11,460
Long-Term Debt Repaid	-	-	-25	-50	-25
Total Debt Repaid	-4,200	-5,320	-6,915	-9,130	-11,485
Net Debt Issued (Repaid)	-200	-180	-165	-600	-25
Repurchase of Common Stock	-153	-309	-117	-	-
Common Dividends Paid	-200	-210	-214	-142	-71
Other Financing Activities	-84	-114	-190	-276	-292
Financing Cash Flow	-637	-813	-686	-1,018	-388
Miscellaneous Cash Flow Adjustments	-	-1	-	-	-1
Net Cash Flow	193	36	-308	-467	590
Free Cash Flow	955	844	384	551	941
Free Cash Flow Growth	13.15%	119.79%	-30.31%	-41.45%	24.80%
Free Cash Flow Margin	7.12%	8.07%	3.42%	4.43%	8.52%
Free Cash Flow Per Share	72.22	61.23	26.88	38.45	65.67
Cash Interest Paid	7	5	5	7	7
Cash Income Tax Paid	223	295	814	439	-221
Levered Free Cash Flow	819.5	847.88	284.38	828.63	1,035
Unlevered Free Cash Flow	823.88	851	287.5	833	1,040
Change in Working Capital	95	506	348	-519	-714

Updated Feb 28, 2026. Source: S&P Global Market Intelligence. Standard template. Financial Sources.