Value HR 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	629.02	1,133	1,459	1,318	923
Depreciation & Amortization	464.92	383	349	313	290
Loss (Gain) From Sale of Assets	-	-	-	-	38
Loss (Gain) From Sale of Investments	-69.14	-31	-74	-48	-
Other Operating Activities	69.49	-555	-473	-303	-229
Change in Accounts Receivable	-196.77	29	-76	25	-184
Change in Inventory	8.04	15	-19	18	-23
Change in Accounts Payable	17.6	128	156	22	29
Change in Unearned Revenue	45.01	-	-	-	-
Change in Other Net Operating Assets	609.06	918	24	519	300
Operating Cash Flow	1,577	2,020	1,346	1,864	1,144
Operating Cash Flow Growth	-21.92%	50.07%	-27.79%	62.94%	96.56%
Capital Expenditures	-235.54	-152	-72	-91	-415
Sale (Purchase) of Intangibles	-579.43	-387	-302	-216	-144
Investment in Securities	169.03	-159	190	-772	-87
Other Investing Activities	-66.84	-15	5	-40	74
Investing Cash Flow	-712.78	-713	-179	-1,119	-472
Long-Term Debt Issued	-	-	-	-	400
Total Debt Issued	-	-	-	-	400
Short-Term Debt Repaid	-	-	-	-	-40
Long-Term Debt Repaid	-528.05	-507	-507	-507	-459
Total Debt Repaid	-528.05	-507	-507	-507	-499
Net Debt Issued (Repaid)	-528.05	-507	-507	-507	-99
Issuance of Common Stock	5.55	1,122	920	212	2,028
Repurchase of Common Stock	-0.07	-1,149	-704	-277	-
Common Dividends Paid	-699.64	-643	-564	-434	-221
Other Financing Activities	-0	-41	-39	-5	-6
Financing Cash Flow	-1,222	-1,218	-894	-1,011	1,702
Miscellaneous Cash Flow Adjustments	-	-1	-1	-1	1
Net Cash Flow	-357.74	88	272	-267	2,375
Free Cash Flow	1,342	1,868	1,274	1,773	729
Free Cash Flow Growth	-28.17%	46.63%	-28.14%	143.21%	-
Free Cash Flow Margin	13.33%	22.30%	17.94%	28.74%	13.19%
Free Cash Flow Per Share	50.10	69.74	48.59	67.42	30.19
Cash Interest Paid	60.18	39	33	37	41
Cash Income Tax Paid	265.84	571	489	316	242
Levered Free Cash Flow	681.89	1,135	1,070	1,236	310.63
Unlevered Free Cash Flow	719.4	1,160	1,090	1,259	336.25
Change in Working Capital	482.95	1,090	85	584	122

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