Espec 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	8,126	6,916	4,670	2,711	2,840
Depreciation & Amortization	1,976	1,718	1,462	1,397	1,123
Loss (Gain) From Sale of Assets	-	-	-	-	1
Other Operating Activities	-2,031	-1,311	-1,057	-712	-836
Change in Accounts Receivable	-2,111	-1,492	-3,202	389	2,661
Change in Inventory	473	-1,624	-3,138	-2,388	-299
Change in Accounts Payable	-2,779	-1,140	2,159	545	-2,000
Change in Other Net Operating Assets	791	-329	1,022	76	-449
Operating Cash Flow	4,445	2,738	1,916	2,018	3,041
Operating Cash Flow Growth	62.34%	42.90%	-5.05%	-33.64%	-37.56%
Capital Expenditures	-2,182	-2,240	-969	-680	-1,711
Sale of Property, Plant & Equipment	7	12	16	5	10
Cash Acquisitions	-	-	-	-846	-
Investment in Securities	516	-	107	643	-649
Other Investing Activities	505	-1,550	-215	-54	316
Investing Cash Flow	-1,154	-3,778	-1,061	-932	-2,034
Short-Term Debt Issued	-	5,000	-	-	-
Total Debt Issued	-	5,000	-	-	-
Short-Term Debt Repaid	-5,000	-	-	-152	-99
Long-Term Debt Repaid	-103	-97	-91	-76	-53
Total Debt Repaid	-5,103	-97	-91	-228	-152
Net Debt Issued (Repaid)	-5,103	4,903	-91	-228	-152
Issuance of Common Stock	-	-	188	-	-
Repurchase of Common Stock	-	-	-1,294	-1,066	-
Common Dividends Paid	-1,870	-1,539	-1,484	-1,346	-1,288
Other Financing Activities	-272	-566	-217	-190	-63
Financing Cash Flow	-7,245	2,798	-2,898	-2,830	-1,503
Foreign Exchange Rate Adjustments	-74	736	183	600	277
Miscellaneous Cash Flow Adjustments	1	1	1	-	741
Net Cash Flow	-4,027	2,495	-1,859	-1,144	522
Free Cash Flow	2,263	498	947	1,338	1,330
Free Cash Flow Growth	354.42%	-47.41%	-29.22%	0.60%	-57.17%
Free Cash Flow Margin	3.36%	0.80%	1.79%	3.20%	3.44%
Free Cash Flow Per Share	103.66	22.81	42.74	59.59	58.17
Cash Interest Paid	25	26	34	41	26
Cash Income Tax Paid	2,026	1,400	1,112	761	836
Levered Free Cash Flow	2,516	-441.38	153.13	790.63	847.5
Unlevered Free Cash Flow	2,531	-425.75	174.38	815.63	863.75
Change in Working Capital	-3,626	-4,585	-3,159	-1,378	-87

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