Nichirin 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	9,649	10,743	10,744	8,421	8,868
Depreciation & Amortization	3,216	3,035	2,667	2,577	2,294
Loss (Gain) From Sale of Assets	-18	232	96	218	-1,269
Loss (Gain) From Sale of Investments	-402	-147	-293	-189	-228
Other Operating Activities	-3,060	-3,074	-3,413	-3,173	-1,637
Change in Accounts Receivable	-113	1,154	30	-418	1,852
Change in Inventory	693	-718	346	28	-2,307
Change in Accounts Payable	15	-819	240	266	-1,348
Change in Other Net Operating Assets	-1,563	-1,736	-505	-960	127
Operating Cash Flow	8,417	8,670	9,912	6,770	6,352
Operating Cash Flow Growth	-2.92%	-12.53%	46.41%	6.58%	122.33%
Capital Expenditures	-2,224	-4,118	-3,239	-2,018	-1,640
Sale of Property, Plant & Equipment	224	2	-13	7	1,833
Cash Acquisitions	-667	-	-	-	-
Sale (Purchase) of Intangibles	-87	-105	-68	-152	-43
Investment in Securities	-998	-2,131	-61	1,150	-847
Other Investing Activities	6	138	20	56	111
Investing Cash Flow	-3,745	-6,213	-3,361	-942	-591
Long-Term Debt Issued	-	-	-	-	600
Total Debt Issued	-	-	-	-	600
Short-Term Debt Repaid	-	-	-140	-233	-196
Long-Term Debt Repaid	-231	-463	-626	-679	-761
Total Debt Repaid	-231	-463	-766	-912	-957
Net Debt Issued (Repaid)	-231	-463	-766	-912	-357
Repurchase of Common Stock	-	-1,032	-1,245	-250	-252
Common Dividends Paid	-2,411	-2,329	-1,435	-1,172	-969
Other Financing Activities	-1,173	-1,942	-2,082	-1,871	-1,024
Financing Cash Flow	-3,815	-5,766	-5,528	-4,205	-2,602
Foreign Exchange Rate Adjustments	41	1,423	987	923	930
Miscellaneous Cash Flow Adjustments	-	-	-	1	-1
Net Cash Flow	898	-1,886	2,010	2,547	4,088
Free Cash Flow	6,193	4,552	6,673	4,752	4,712
Free Cash Flow Growth	36.05%	-31.79%	40.42%	0.85%	1455.12%
Free Cash Flow Margin	8.41%	6.38%	9.45%	7.41%	8.09%
Free Cash Flow Per Share	469.77	340.64	489.43	336.78	331.19
Cash Interest Paid	27	21	41	48	44
Cash Income Tax Paid	3,113	3,128	3,405	3,160	1,705
Levered Free Cash Flow	6,237	2,590	4,955	3,121	3,411
Unlevered Free Cash Flow	6,288	2,636	4,974	3,149	3,438
Change in Working Capital	-968	-2,119	111	-1,084	-1,676

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