Otsuka Cash Flow Statement

Financials in millions JPY. Fiscal year is January - December.

Millions JPY. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Net Income	90,453	53,481	47,448	40,022	39,927
Depreciation & Amortization	9,340	8,434	7,934	8,290	7,982
Loss (Gain) From Sale of Assets	175	94	-681	-395	-823
Asset Writedown & Restructuring Costs	-	85	245	1,120	220
Loss (Gain) From Sale of Investments	752	1,912	74	-596	-19
Loss (Gain) on Equity Investments	-727	-862	-825	-661	-794
Other Operating Activities	-22,989	1,804	7,355	160	679
Change in Accounts Receivable	-18,675	-45,839	-2,875	-23,806	9,342
Change in Inventory	18,422	-36,182	6,595	-9,716	9,169
Change in Accounts Payable	6,794	54,477	6,357	14,782	-5,419
Change in Other Net Operating Assets	8,673	307	22	-4	-2,391
Operating Cash Flow	92,218	37,711	71,649	29,196	57,873
Operating Cash Flow Growth	144.54%	-47.37%	145.41%	-49.55%	78.09%
Capital Expenditures	-4,372	-3,217	-3,990	-1,249	-5,203
Sale of Property, Plant & Equipment	-	-	1,672	969	1,546
Sale (Purchase) of Intangibles	-15,654	-8,869	-6,356	-5,828	-5,679
Investment in Securities	-161	-8	-12,278	-1,964	-160
Other Investing Activities	-288	145	-521	-133	354
Investing Cash Flow	-20,475	-11,949	-21,473	-8,355	-9,160
Long-Term Debt Issued	-	-	1,700	-	-
Short-Term Debt Repaid	-	-100	-	-400	-
Long-Term Debt Repaid	-	-	-1,700	-	-
Total Debt Repaid	-	-100	-1,700	-400	-
Net Debt Issued (Repaid)	-	-100	-	-400	-
Common Dividends Paid	-47,390	-25,595	-23,691	-22,753	-21,797
Other Financing Activities	-223	-196	-148	-154	-160
Financing Cash Flow	-47,613	-25,891	-23,839	-23,307	-21,957
Foreign Exchange Rate Adjustments	3	1	3	-4	2
Miscellaneous Cash Flow Adjustments	-1	1	-	-2	-
Net Cash Flow	24,132	-127	26,340	-2,472	26,758
Free Cash Flow	87,846	34,494	67,659	27,947	52,670
Free Cash Flow Growth	154.67%	-49.02%	142.10%	-46.94%	78.39%
Free Cash Flow Margin	6.64%	3.11%	6.92%	3.25%	6.18%
Free Cash Flow Per Share	231.66	90.97	178.43	73.70	138.90
Cash Interest Paid	66	55	39	43	44
Cash Income Tax Paid	23,357	17,176	17,258	16,584	17,796
Levered Free Cash Flow	64,822	19,840	52,963	17,966	42,539
Unlevered Free Cash Flow	64,864	19,875	52,988	17,993	42,567
Change in Working Capital	15,214	-27,237	10,099	-18,744	10,701

Updated Dec 31, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.