Milbon Cash Flow Statement

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

Millions JPY. Fiscal year is Jan - Dec.

Fiscal Year	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020
Net Income	6,968	5,432	7,823	7,133	5,890
Depreciation & Amortization	2,289	2,275	2,080	1,777	1,609
Loss (Gain) From Sale of Assets	19	39	6	-	15
Loss (Gain) From Sale of Investments	-19	-	-	24	-114
Loss (Gain) on Equity Investments	11	110	112	151	138
Other Operating Activities	-1,114	-2,543	-2,458	-1,904	-1,525
Change in Accounts Receivable	-646	-63	-546	-467	-28
Change in Inventory	-1,053	-469	-2,148	-612	-164
Change in Accounts Payable	474	-251	108	122	-4
Change in Other Net Operating Assets	696	235	31	412	731
Operating Cash Flow	7,625	4,765	5,008	6,636	6,548
Operating Cash Flow Growth	60.02%	-4.85%	-24.53%	1.34%	45.97%
Capital Expenditures	-2,194	-2,598	-3,061	-3,828	-1,388
Sale of Property, Plant & Equipment	-	-	1	-	-
Sale (Purchase) of Intangibles	-346	-612	-761	-659	-581
Investment in Securities	36	-	200	660	1,819
Other Investing Activities	-27	170	-174	-23	-5
Investing Cash Flow	-2,531	-3,109	-3,865	-3,995	-161
Short-Term Debt Repaid	-	-	-42	-	-
Total Debt Repaid	-	-	-42	-	-
Net Debt Issued (Repaid)	-	-	-42	-	-
Repurchase of Common Stock	-	-1	-1	-3	-1,590
Common Dividends Paid	-2,861	-2,796	-2,534	-1,916	-1,825
Other Financing Activities	-1	-	-1	-	-1
Financing Cash Flow	-2,862	-2,797	-2,578	-1,919	-3,416
Foreign Exchange Rate Adjustments	253	175	381	283	-38
Miscellaneous Cash Flow Adjustments	1	-	-	-	-2
Net Cash Flow	2,486	-966	-1,054	1,005	2,931
Free Cash Flow	5,431	2,167	1,947	2,808	5,160
Free Cash Flow Growth	150.62%	11.30%	-30.66%	-45.58%	52.30%
Free Cash Flow Margin	10.58%	4.54%	4.30%	6.75%	14.44%
Free Cash Flow Per Share	166.82	66.60	59.87	86.38	158.63
Cash Income Tax Paid	1,112	2,428	2,456	1,905	1,527
Levered Free Cash Flow	4,389	646.13	616	1,813	4,268
Unlevered Free Cash Flow	4,389	646.13	616	1,813	4,268
Change in Working Capital	-529	-548	-2,555	-545	535

Updated Sep 30, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.