Makuake Cash Flow Statement

Financials in millions JPY. Fiscal year is October - September.

Millions JPY. Fiscal year is Oct - Sep.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar '26 Mar 31, 2026	Sep '25 Sep 30, 2025	Sep '24 Sep 30, 2024	Sep '23 Sep 30, 2023	Sep '22 Sep 30, 2022	Sep '21 Sep 30, 2021
Net Income	701	425	-132	-503	-1,264	326
Depreciation & Amortization	196	177	120	35	172	110
Loss (Gain) From Sale of Assets	38	18	-	-	1,009	-
Loss (Gain) From Sale of Investments	35	35	78	24	-47	-
Other Operating Activities	-46	-8	-10	49	-96	-213
Change in Accounts Receivable	-46	-78	63	-144	212	-21
Change in Accounts Payable	127	156	-14	5	-260	-282
Change in Other Net Operating Assets	498	260	-1,199	195	-553	231
Operating Cash Flow	1,503	985	-1,094	-339	-827	151
Operating Cash Flow Growth	253.65%	-	-	-	-	-94.11%
Capital Expenditures	-2	-14	-3	-7	-21	-7
Sale (Purchase) of Intangibles	-62	-138	-383	-575	-488	-306
Investment in Securities	10	10	-	-	32	-148
Other Investing Activities	62	61	110	-	2	-125
Investing Cash Flow	8	-81	-276	-582	-475	-586
Issuance of Common Stock	-	4	18	14	33	3,915
Financing Cash Flow	-	4	18	14	33	3,915
Miscellaneous Cash Flow Adjustments	-	-	-	-	-	1
Net Cash Flow	1,511	908	-1,352	-907	-1,269	3,481
Free Cash Flow	1,501	971	-1,097	-346	-848	144
Free Cash Flow Growth	264.32%	-	-	-	-	-94.37%
Free Cash Flow Margin	28.11%	21.21%	-30.04%	-9.08%	-20.16%	3.12%
Free Cash Flow Per Share	117.48	76.03	-86.40	-27.46	-67.69	11.46
Cash Income Tax Paid	49	10	10	-49	96	214
Levered Free Cash Flow	1,195	665.38	-1,450	-755.63	-1,231	-195.38
Unlevered Free Cash Flow	1,195	665.38	-1,450	-755.63	-1,231	-195.38
Change in Working Capital	579	338	-1,150	56	-601	-72