M&A Capital Partners Cash Flow Statement

Financials in millions JPY. Fiscal year is October - September.

Millions JPY. Fiscal year is Oct - Sep.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar '26 Mar 31, 2026	Sep '25 Sep 30, 2025	Sep '24 Sep 30, 2024	Sep '23 Sep 30, 2023	Sep '22 Sep 30, 2022	Sep '21 Sep 30, 2021
Net Income	8,074	7,202	6,469	7,470	9,766	6,588
Depreciation & Amortization	1,774	1,486	599	541	371	327
Loss (Gain) From Sale of Assets	823	823	-	4	8	2
Other Operating Activities	-2,425	-1,788	-3,344	-3,947	-2,697	-1,662
Change in Accounts Receivable	-509	1,004	-944	582	-563	-47
Change in Accounts Payable	486	-3	720	-341	655	313
Change in Other Net Operating Assets	702	807	344	432	965	493
Operating Cash Flow	8,925	9,531	3,844	4,741	8,505	6,014
Operating Cash Flow Growth	4.54%	147.94%	-18.92%	-44.26%	41.42%	72.77%
Capital Expenditures	-33	-51	-64	-1,218	-45	-44
Sale of Property, Plant & Equipment	-	-	-	2	-	-
Cash Acquisitions	-	-	-	-	-9	-
Sale (Purchase) of Intangibles	-43	-32	-27	-59	-39	-24
Investment in Securities	-12,108	-26,000	-2,585	-	-	-
Other Investing Activities	-921	-19	-4	-48	2	-845
Investing Cash Flow	-13,105	-26,102	-2,680	-1,323	-91	-913
Short-Term Debt Repaid	-	-	-	-	-30	-
Total Debt Repaid	-	-	-	-	-30	-
Net Debt Issued (Repaid)	-	-	-	-	-30	-
Issuance of Common Stock	48	131	-	168	17	798
Common Dividends Paid	-1,655	-1,270	-1,269	-	-	-
Other Financing Activities	-1,794	-1,192	-1	-	1	-
Financing Cash Flow	-3,401	-2,331	-1,270	168	-12	798
Foreign Exchange Rate Adjustments	1	-	-1	-	6	-
Miscellaneous Cash Flow Adjustments	2	-1	-1	-	-2	-
Net Cash Flow	-7,578	-18,903	-108	3,586	8,406	5,899
Free Cash Flow	8,892	9,480	3,780	3,523	8,460	5,970
Free Cash Flow Growth	4.74%	150.79%	7.29%	-58.36%	41.71%	74.66%
Free Cash Flow Margin	36.40%	42.23%	19.72%	16.90%	40.86%	39.38%
Free Cash Flow Per Share	275.30	293.83	117.38	108.71	260.14	183.11
Cash Interest Paid	23	17	-	-	-	-
Cash Income Tax Paid	2,340	1,740	3,343	3,948	2,700	1,664
Levered Free Cash Flow	7,204	8,465	3,840	3,256	7,500	5,711
Unlevered Free Cash Flow	7,231	8,478	3,840	3,256	7,500	5,711
Change in Working Capital	679	1,808	120	673	1,057	759

Source: S&P Global Market Intelligence. Standard template. Financial Sources.