Tsubaki Nakashima Cash Flow Statement

Financials in millions JPY. Fiscal year is January - December.

Millions JPY. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar '26 Mar 31, 2026	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	-22,903	-23,992	1,747	113	-9,648	5,008
Depreciation & Amortization	3,853	3,798	3,257	3,189	3,658	3,408
Loss (Gain) From Sale of Assets	15,287	16,329	-20	3,393	12,761	-56
Other Operating Activities	-1,513	-22	-2,031	-1,552	-1,741	-1,295
Change in Accounts Receivable	2,617	2,675	3,286	-392	-4,716	-557
Change in Inventory	12,965	12,685	1,766	364	-4,979	-2,966
Change in Accounts Payable	-245	137	-1,039	-1,651	532	1,750
Change in Other Net Operating Assets	-1,702	-876	-1,906	-2,059	-3	973
Operating Cash Flow	8,171	10,519	4,873	1,405	-4,136	6,265
Operating Cash Flow Growth	44.59%	115.86%	246.83%	-	-	181.95%
Capital Expenditures	-1,035	-1,872	-3,708	-4,720	-5,538	-2,123
Sale of Property, Plant & Equipment	1,822	777	32	68	2,154	117
Cash Acquisitions	-	-	-	-185	-	-
Sale (Purchase) of Intangibles	-67	-66	-123	-58	-120	-274
Other Investing Activities	2,282	2,284	-1	-	-	-1
Investing Cash Flow	3,002	1,123	-3,800	-4,895	-3,504	-2,281
Short-Term Debt Issued	-	-	-	3,000	-	3,000
Long-Term Debt Issued	-	-	3,960	10,020	9,700	25,591
Total Debt Issued	-	-	3,960	13,020	9,700	28,591
Short-Term Debt Repaid	-	-	-5,000	-3,126	-	-5,567
Long-Term Debt Repaid	-	-	-	-7,000	-9,030	-8,633
Total Debt Repaid	82	-	-5,000	-10,126	-9,030	-14,200
Net Debt Issued (Repaid)	82	-	-1,040	2,894	670	14,391
Issuance of Common Stock	-	-	42	29	35	516
Repurchase of Common Stock	-603	-603	-	-	-1,000	-
Common Dividends Paid	-33	-378	-569	-1,146	-1,147	-1,645
Other Financing Activities	-397	-319	-339	-383	-320	-317
Financing Cash Flow	-951	-1,300	-1,906	1,394	-1,762	12,945
Foreign Exchange Rate Adjustments	1,649	957	1,164	980	997	608
Net Cash Flow	11,871	11,299	331	-1,116	-8,405	17,537
Free Cash Flow	7,136	8,647	1,165	-3,315	-9,674	4,142
Free Cash Flow Growth	304.08%	642.23%	-	-	-	235.38%
Free Cash Flow Margin	10.29%	12.38%	1.53%	-4.13%	-12.24%	6.10%
Free Cash Flow Per Share	186.19	223.31	21.09	-83.44	-239.85	101.82
Cash Interest Paid	1,009	1,117	1,461	1,173	1,089	911
Cash Income Tax Paid	712	498	2,030	1,568	1,764	1,320
Levered Free Cash Flow	-	4,690	-3,024	-3,205	-13,427	2,477
Unlevered Free Cash Flow	-	5,686	-2,111	-2,463	-12,732	3,066
Change in Working Capital	13,635	14,621	2,107	-3,738	-9,166	-800