Waseda Gakushukenkyukai Cash Flow Statement

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

Millions JPY. Fiscal year is Apr - Mar.

Fiscal Year	FY 2026	FY 2025	FY 2024	FY 2023	FY 2022
Period Ending	Mar '26 Mar 31, 2026	Mar '25 Mar 31, 2025	Mar '24 Mar 31, 2024	Mar '23 Mar 31, 2023	Mar '22 Mar 31, 2022
Net Income	1,414	1,508	1,428	-	-
Depreciation & Amortization	181	162	154	-	-
Loss (Gain) From Sale of Assets	-	-	8	-	-
Other Operating Activities	-564	-310	-426	-	-
Change in Accounts Receivable	-1	-2	-	-	-
Change in Inventory	-17	-3	-8	-	-
Change in Accounts Payable	134	15	2	-	-
Change in Other Net Operating Assets	143	-111	-141	-	-
Operating Cash Flow	1,290	1,259	1,017	-	-
Operating Cash Flow Growth	2.46%	23.79%	-	-	-
Capital Expenditures	-516	-688	-586	-	-
Sale (Purchase) of Intangibles	-2	-3	-8	-	-
Investment in Securities	-92	-408	-	-	-
Other Investing Activities	-13	-41	-8	-	-
Investing Cash Flow	-623	-1,140	-602	-	-
Issuance of Common Stock	-	-	133	-	-
Repurchase of Common Stock	-84	-102	-	-	-
Common Dividends Paid	-626	-741	-251	-	-
Other Financing Activities	-	-	1	-	-
Financing Cash Flow	-710	-843	-117	-	-
Miscellaneous Cash Flow Adjustments	-	-	-1	-	-
Net Cash Flow	-43	-724	297	-	-
Free Cash Flow	774	571	431	-	-
Free Cash Flow Growth	35.55%	32.48%	-	-	-
Free Cash Flow Margin	10.88%	8.17%	6.67%	-	-
Free Cash Flow Per Share	76.97	56.27	42.66	-	-
Cash Income Tax Paid	565	307	427	-	-
Levered Free Cash Flow	663.88	432.13	460.13	-	-
Unlevered Free Cash Flow	663.88	432.13	460.13	-	-
Change in Working Capital	259	-101	-147	-	-