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	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	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
Net Income	633	726	949	1,951	2,318
Depreciation & Amortization	280	318	375	342	286
Loss (Gain) From Sale of Assets	56	296	153	50	88
Loss (Gain) From Sale of Investments	83	13	10	-55	-82
Loss (Gain) on Equity Investments	2	-	-	-	-
Other Operating Activities	-269	-430	-559	-1,006	-544
Change in Accounts Receivable	-63	-22	116	-67	-154
Change in Inventory	-65	402	-400	-17	28
Change in Accounts Payable	-223	25	-34	-107	352
Change in Other Net Operating Assets	157	25	135	123	68
Operating Cash Flow	591	1,353	745	1,214	2,360
Operating Cash Flow Growth	-56.32%	81.61%	-38.63%	-48.56%	37.93%
Capital Expenditures	-307	-187	-345	-502	-255
Sale of Property, Plant & Equipment	50	39	11	3	35
Sale (Purchase) of Intangibles	-87	-94	-64	-151	-144
Investment in Securities	-348	118	-21	-41	52
Other Investing Activities	5	-3	992	-23	-18
Investing Cash Flow	-747	-127	573	-714	-330
Long-Term Debt Issued	-	-	3,000	-	-
Long-Term Debt Repaid	-625	-604	-513	-440	-440
Net Debt Issued (Repaid)	-625	-604	2,487	-440	-440
Issuance of Common Stock	-	-	-	-	24
Repurchase of Common Stock	-	-	-500	-999	-
Common Dividends Paid	-145	-291	-303	-320	-210
Other Financing Activities	-	-1	-	-2	-
Financing Cash Flow	-770	-896	1,684	-1,761	-626
Foreign Exchange Rate Adjustments	-	-	5	4	1
Miscellaneous Cash Flow Adjustments	-1	-1	1	1	-
Net Cash Flow	-927	329	3,008	-1,256	1,405
Free Cash Flow	284	1,166	400	712	2,105
Free Cash Flow Growth	-75.64%	191.50%	-43.82%	-66.18%	60.44%
Free Cash Flow Margin	1.21%	4.86%	1.58%	2.77%	8.29%
Free Cash Flow Per Share	29.07	119.63	40.76	68.13	196.85
Cash Interest Paid	7	9	4	1	2
Cash Income Tax Paid	307	431	558	1,006	545
Levered Free Cash Flow	106.75	1,007	411	381.38	1,690
Unlevered Free Cash Flow	111.13	1,013	412.88	382	1,692
Change in Working Capital	-194	430	-183	-68	294

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