Wintest 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	-1,239	-1,103	-552	-683	-630
Depreciation & Amortization	8	-	-	-	-
Loss (Gain) From Sale of Assets	30	9	-	-	3
Loss (Gain) From Sale of Investments	-	-	-	-	-41
Other Operating Activities	-3	-1	-4	12	-20
Change in Accounts Receivable	-120	20	-66	-6	464
Change in Inventory	518	336	115	5	-557
Change in Accounts Payable	94	81	-16	-77	-22
Change in Other Net Operating Assets	-39	-4	-35	136	-53
Operating Cash Flow	-751	-662	-558	-613	-856
Capital Expenditures	-1	-1	-	-	-
Divestitures	-	-	-	-	23
Sale (Purchase) of Intangibles	-29	-	-	-	-2
Other Investing Activities	-	-	-	3	-
Investing Cash Flow	-30	-1	-	3	21
Short-Term Debt Issued	100	100	-	158	-
Long-Term Debt Issued	-	-	-	120	80
Total Debt Issued	100	100	-	278	80
Short-Term Debt Repaid	-100	-	-159	-	-
Long-Term Debt Repaid	-32	-32	-32	-29	-7
Total Debt Repaid	-132	-32	-191	-29	-7
Net Debt Issued (Repaid)	-32	68	-191	249	73
Issuance of Common Stock	700	104	833	421	-
Other Financing Activities	-1	-1	-1	-3	-5
Financing Cash Flow	667	171	641	667	68
Foreign Exchange Rate Adjustments	106	222	-	-	58
Miscellaneous Cash Flow Adjustments	1	-	-	2	3
Net Cash Flow	-7	-270	83	59	-706
Free Cash Flow	-752	-663	-558	-613	-856
Free Cash Flow Margin	-175.29%	-158.99%	-137.10%	-291.90%	-278.83%
Free Cash Flow Per Share	-14.19	-15.15	-13.94	-17.75	-25.91
Cash Interest Paid	4	11	5	3	-
Cash Income Tax Paid	2	2	2	-11	17
Levered Free Cash Flow	-408.75	-65.75	-392.88	-387.63	-685.88
Unlevered Free Cash Flow	-406.25	-58.88	-389.75	-385.13	-685.88
Change in Working Capital	453	433	-2	58	-168

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