Nulab Cash Flow Statement

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

Millions JPY. Fiscal year is Apr - Mar.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	2016 - 2020
Period Ending	Sep '25 Sep 30, 2025	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	2016 - 2020
Net Income	497	649	323	86	-	-	Upgrade
Depreciation & Amortization	104	103	100	92	-	-	Upgrade
Other Operating Activities	-145	-93	-9	-30	-	-	Upgrade
Change in Accounts Receivable	-13	-4	-5	-41	-	-	Upgrade
Change in Accounts Payable	58	-55	25	105	-	-	Upgrade
Change in Other Net Operating Assets	132	149	377	85	-	-	Upgrade
Operating Cash Flow	633	749	811	297	-	-	Upgrade
Operating Cash Flow Growth	-7.99%	-7.65%	173.06%	-	-	-	Upgrade
Capital Expenditures	-26	-24	-27	-20	-	-	Upgrade
Sale (Purchase) of Intangibles	-236	-104	-90	-107	-	-	Upgrade
Other Investing Activities	-21	-	7	-3	-	-	Upgrade
Investing Cash Flow	-283	-128	-110	-130	-	-	Upgrade
Long-Term Debt Repaid	-	-3	-8	-44	-	-	Upgrade
Net Debt Issued (Repaid)	197	-3	-8	-44	-	-	Upgrade
Issuance of Common Stock	-	2	25	462	-	-	Upgrade
Other Financing Activities	-	-	-1	-1	-	-	Upgrade
Financing Cash Flow	197	-1	16	417	-	-	Upgrade
Foreign Exchange Rate Adjustments	-26	29	21	30	-	-	Upgrade
Miscellaneous Cash Flow Adjustments	-2	-1	1	-	-	-	Upgrade
Net Cash Flow	519	648	739	614	-	-	Upgrade
Free Cash Flow	607	725	784	277	-	-	Upgrade
Free Cash Flow Growth	-8.31%	-7.53%	183.03%	-	-	-	Upgrade
Free Cash Flow Margin	14.30%	17.63%	21.41%	10.24%	-	-	Upgrade
Free Cash Flow Per Share	93.33	111.40	119.92	43.78	-	-	Upgrade
Cash Income Tax Paid	145	94	9	32	-	-	Upgrade
Levered Free Cash Flow	300	531.63	613.5	177.13	-	-	Upgrade
Unlevered Free Cash Flow	300	531.63	613.5	177.13	-	-	Upgrade
Change in Working Capital	177	90	397	149	-	-	Upgrade

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