Happinet Cash Flow Statement

Financials in millions JPY. Fiscal year is April - March.

Millions JPY. Fiscal year is Apr - Mar.

Fiscal Year	FY 2026	FY 2025	FY 2024	FY 2023	FY 2022
Period Ending	Mar '26 Mar 31, 2026	Mar '25 Mar 31, 2025	Mar '24 Mar 31, 2024	Mar '23 Mar 31, 2023	Mar '22 Mar 31, 2022
Net Income	15,655	10,584	9,901	6,124	5,587
Depreciation & Amortization	1,895	2,401	1,524	1,383	1,140
Loss (Gain) From Sale of Assets	40	1,392	49	13	28
Loss (Gain) From Sale of Investments	1	81	47	-128	214
Loss (Gain) on Equity Investments	-	-	26	14	-15
Other Operating Activities	-4,587	-4,500	-1,763	-2,606	-1,761
Change in Accounts Receivable	-14,120	5,762	-8,257	-3,734	387
Change in Inventory	-529	-454	159	-1,096	443
Change in Accounts Payable	16,329	3,347	8,299	7,790	-2,598
Change in Other Net Operating Assets	1,147	-492	-1,624	-1,016	286
Operating Cash Flow	15,831	18,121	8,361	6,744	3,711
Operating Cash Flow Growth	-12.64%	116.73%	23.98%	81.73%	-63.84%
Capital Expenditures	-370	-2,135	-695	-335	-345
Sale of Property, Plant & Equipment	3	14	-	15	11
Cash Acquisitions	-	-14	-6,644	-	-
Sale (Purchase) of Intangibles	-278	-412	-693	-677	-232
Investment in Securities	90	-8	2,959	291	-633
Other Investing Activities	-16	-6	-2	-67	-37
Investing Cash Flow	-1,184	-2,802	-5,075	-773	-1,236
Repurchase of Common Stock	-1,872	-1,142	-	-	-
Common Dividends Paid	-2,925	-2,850	-1,481	-1,454	-1,104
Other Financing Activities	-1	-1	-	-	-
Financing Cash Flow	-4,798	-3,993	-1,481	-1,454	-1,104
Miscellaneous Cash Flow Adjustments	-1	-2	-	-1	213
Net Cash Flow	9,848	11,324	1,805	4,516	1,584
Free Cash Flow	15,461	15,986	7,666	6,409	3,366
Free Cash Flow Growth	-3.28%	108.53%	19.61%	90.40%	-65.69%
Free Cash Flow Margin	3.52%	4.39%	2.19%	2.09%	1.19%
Free Cash Flow Per Share	348.03	356.86	169.22	141.55	74.49
Cash Income Tax Paid	4,576	4,495	1,836	2,676	1,825
Levered Free Cash Flow	14,362	14,788	6,541	5,195	3,758
Unlevered Free Cash Flow	14,362	14,788	6,541	5,195	3,758
Change in Working Capital	2,827	8,163	-1,423	1,944	-1,482

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