Tsubota Laboratory Cash Flow Statement

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

Millions JPY. Fiscal year is Apr - Mar.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar '25 Mar 31, 2025	Mar '24 Mar 31, 2024	Mar '23 Mar 31, 2023	Mar '22 Mar 31, 2022	Mar '21 Mar 31, 2021
Net Income	281	-636	144	202	-
Depreciation & Amortization	28	35	39	37	-
Other Operating Activities	32	-53	-42	-20	-
Change in Accounts Receivable	-528	-	-13	144	-
Change in Inventory	-	69	-46	-85	-
Change in Accounts Payable	71	-8	-1	-49	-
Change in Other Net Operating Assets	-201	292	-53	425	-
Operating Cash Flow	-317	-301	28	654	-
Operating Cash Flow Growth	-	-	-95.72%	-	-
Capital Expenditures	-13	-12	-44	-72	-
Sale of Property, Plant & Equipment	1	-	-	-	-
Sale (Purchase) of Intangibles	-	-	-4	-	-
Other Investing Activities	-2	-	-6	-	-
Investing Cash Flow	-14	-12	-54	-72	-
Long-Term Debt Repaid	-26	-22	-84	-18	-
Net Debt Issued (Repaid)	-26	-22	-84	-18	-
Issuance of Common Stock	14	58	1,109	-	-
Other Financing Activities	-	-1	-14	-	-
Financing Cash Flow	-12	35	1,011	-18	-
Miscellaneous Cash Flow Adjustments	-1	1	1	-	-
Net Cash Flow	-344	-277	986	564	-
Free Cash Flow	-330	-313	-16	582	-
Free Cash Flow Margin	-24.32%	-46.51%	-1.68%	90.94%	-
Free Cash Flow Per Share	-12.75	-12.28	-0.63	25.71	-
Cash Interest Paid	1	-	-	1	-
Cash Income Tax Paid	-26	60	42	85	-
Levered Free Cash Flow	-391.13	-88.88	-37.63	506.38	-
Unlevered Free Cash Flow	-390.5	-88.25	-37.63	507	-
Change in Working Capital	-658	353	-113	435	-

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