Wakamoto Pharmaceutical Cash Flow Statement

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

Millions JPY. Fiscal year is Apr - Mar.

Fiscal Year	FY 2012	FY 2011	FY 2010	FY 2009	FY 2008
Period Ending	Mar '12 Mar 31, 2012	Mar '11 Mar 31, 2011	Mar '10 Mar 31, 2010	Mar '09 Mar 31, 2009	Mar '08 Mar 31, 2008
Net Income	-127	-626	48.52	351.36	406.89
Depreciation & Amortization	1,008	1,204	720.1	553.41	512.27
Loss (Gain) From Sale of Assets	-123	45	10.48	9.41	14.44
Loss (Gain) From Sale of Investments	24	34	3.32	-	-
Other Operating Activities	-24	-3	-66.87	40.3	-115.6
Change in Accounts Receivable	392	107	95.95	220.18	313.06
Change in Inventory	-105	-533	110.95	-237.64	-70.85
Change in Accounts Payable	-426	427	-234.51	130.8	-54.84
Change in Other Net Operating Assets	-30	-309	-198.54	-243.23	-111.2
Operating Cash Flow	589	346	489.39	824.58	894.17
Operating Cash Flow Growth	70.23%	-29.30%	-40.65%	-7.78%	0.63%
Capital Expenditures	-391	-467	-2,610	-1,826	-645.33
Sale of Property, Plant & Equipment	144	-	-	-	-
Sale (Purchase) of Intangibles	-237	-10	-17.61	-1	-12.71
Investment in Securities	38	199	-26.85	1,638	-1,014
Other Investing Activities	-59	-38	-0	-0	-0
Investing Cash Flow	-505	-316	-2,654	-189.32	-1,672
Short-Term Debt Issued	100	-	-	-	-
Long-Term Debt Issued	300	-	1,600	-	-
Total Debt Issued	400	-	1,600	-	-
Long-Term Debt Repaid	-196	-174	-	-	-
Net Debt Issued (Repaid)	204	-174	1,600	-	-
Issuance of Common Stock	-	118	-	-	838
Repurchase of Common Stock	-3	-8	-17.67	-14.56	-14.45
Common Dividends Paid	-2	-86	-172.34	-172.77	-168.59
Other Financing Activities	-2	-	-0	-0	-0
Financing Cash Flow	197	-150	1,410	-187.33	654.96
Miscellaneous Cash Flow Adjustments	1	-	-	-0	0
Net Cash Flow	282	-120	-754.83	447.93	-122.9
Free Cash Flow	198	-121	-2,120	-1,001	248.84
Free Cash Flow Growth	-	-	-	-	-28.23%
Free Cash Flow Margin	2.10%	-1.25%	-21.69%	-9.93%	2.45%
Free Cash Flow Per Share	5.69	-3.50	-61.62	-29.07	7.34
Cash Interest Paid	28	28	14.34	-	-
Cash Income Tax Paid	21	3	141.13	215.71	425.97
Levered Free Cash Flow	-241	-83.66	-3,006	-454.68	510.48
Unlevered Free Cash Flow	-223.5	-66.78	-2,994	-454.68	510.48
Change in Working Capital	-169	-308	-226.15	-129.9	76.17

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