RIDE ON EXPRESS HOLDINGS 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	859	633	726	949	1,951	2,318	Upgrade
Depreciation & Amortization	275	280	318	375	342	286	Upgrade
Loss (Gain) From Sale of Assets	51	56	296	153	50	88	Upgrade
Loss (Gain) From Sale of Investments	121	83	13	10	-55	-82	Upgrade
Loss (Gain) on Equity Investments	2	2	-	-	-	-	Upgrade
Other Operating Activities	-266	-269	-430	-559	-1,006	-544	Upgrade
Change in Accounts Receivable	-13	-63	-22	116	-67	-154	Upgrade
Change in Inventory	-109	-65	402	-400	-17	28	Upgrade
Change in Accounts Payable	-53	-223	25	-34	-107	352	Upgrade
Change in Other Net Operating Assets	-82	157	25	135	123	68	Upgrade
Operating Cash Flow	785	591	1,353	745	1,214	2,360	Upgrade
Operating Cash Flow Growth	-2.12%	-56.32%	81.61%	-38.63%	-48.56%	37.93%	Upgrade
Capital Expenditures	-322	-307	-187	-345	-502	-255	Upgrade
Sale of Property, Plant & Equipment	39	50	39	11	3	35	Upgrade
Sale (Purchase) of Intangibles	-106	-87	-94	-64	-151	-144	Upgrade
Investment in Securities	-736	-348	118	-21	-41	52	Upgrade
Other Investing Activities	14	5	-3	992	-23	-18	Upgrade
Investing Cash Flow	-1,181	-747	-127	573	-714	-330	Upgrade
Long-Term Debt Issued	-	-	-	3,000	-	-	Upgrade
Long-Term Debt Repaid	-	-625	-604	-513	-440	-440	Upgrade
Net Debt Issued (Repaid)	1,352	-625	-604	2,487	-440	-440	Upgrade
Issuance of Common Stock	-	-	-	-	-	24	Upgrade
Repurchase of Common Stock	-	-	-	-500	-999	-	Upgrade
Common Dividends Paid	-146	-145	-291	-303	-320	-210	Upgrade
Other Financing Activities	-	-	-1	-	-2	-	Upgrade
Financing Cash Flow	1,206	-770	-896	1,684	-1,761	-626	Upgrade
Foreign Exchange Rate Adjustments	-	-	-	5	4	1	Upgrade
Miscellaneous Cash Flow Adjustments	-2	-1	-1	1	1	-	Upgrade
Net Cash Flow	808	-927	329	3,008	-1,256	1,405	Upgrade
Free Cash Flow	463	284	1,166	400	712	2,105	Upgrade
Free Cash Flow Growth	-21.39%	-75.64%	191.50%	-43.82%	-66.18%	60.44%	Upgrade
Free Cash Flow Margin	1.96%	1.21%	4.86%	1.58%	2.77%	8.29%	Upgrade
Free Cash Flow Per Share	47.34	29.07	119.63	40.76	68.13	196.85	Upgrade
Cash Interest Paid	11	7	9	4	1	2	Upgrade
Cash Income Tax Paid	307	307	431	558	1,006	545	Upgrade
Levered Free Cash Flow	219.25	106.75	1,007	411	381.38	1,690	Upgrade
Unlevered Free Cash Flow	226.13	111.13	1,013	412.88	382	1,692	Upgrade
Change in Working Capital	-257	-194	430	-183	-68	294	Upgrade

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