NEW ART 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	3,523	2,469	2,915	2,213	2,212
Depreciation & Amortization	657	475	380	348	279
Loss (Gain) From Sale of Assets	-14	266	187	726	13
Loss (Gain) From Sale of Investments	-6	179	19	-	89
Loss (Gain) on Equity Investments	-8	-	-	-	-
Other Operating Activities	-1,370	-1,413	-737	-955	-1,416
Change in Accounts Receivable	-325	-36	-85	-271	-282
Change in Inventory	-1,508	-320	-585	-186	1,657
Change in Accounts Payable	366	182	-89	208	114
Change in Other Net Operating Assets	444	106	-35	-180	454
Operating Cash Flow	1,759	1,908	1,970	1,903	3,120
Operating Cash Flow Growth	-7.81%	-3.15%	3.52%	-39.01%	79.52%
Capital Expenditures	-568	-1,552	-835	-607	-2,578
Sale of Property, Plant & Equipment	1,036	3	-	49	-
Cash Acquisitions	-746	-30	-12	-44	-
Sale (Purchase) of Intangibles	-	-12	-59	-1	-1
Investment in Securities	94	117	-86	-299	-16
Other Investing Activities	-275	-200	-129	-61	-149
Investing Cash Flow	-455	-1,442	-1,054	-926	-2,482
Short-Term Debt Issued	1,294	-	-	980	1,500
Long-Term Debt Issued	1,452	2,447	1,878	700	1,030
Total Debt Issued	2,746	2,447	1,878	1,680	2,530
Short-Term Debt Repaid	-	-243	-168	-970	-1,712
Long-Term Debt Repaid	-1,857	-1,820	-987	-490	-643
Total Debt Repaid	-1,857	-2,063	-1,155	-1,460	-2,355
Net Debt Issued (Repaid)	889	384	723	220	175
Repurchase of Common Stock	-526	-1	-904	-3	-7
Common Dividends Paid	-1,532	-1,532	-1,179	-785	-469
Other Financing Activities	-412	-335	-340	-275	-154
Financing Cash Flow	-1,581	-1,484	-1,700	-843	-455
Foreign Exchange Rate Adjustments	-10	31	88	56	19
Miscellaneous Cash Flow Adjustments	-1	-	2	-1	-1
Net Cash Flow	-288	-987	-694	189	201
Free Cash Flow	1,191	356	1,135	1,296	542
Free Cash Flow Growth	234.55%	-68.63%	-12.42%	139.11%	-51.04%
Free Cash Flow Margin	4.31%	1.69%	5.29%	6.92%	2.86%
Free Cash Flow Per Share	75.24	23.17	72.65	81.61	34.40
Cash Interest Paid	244	124	70	58	61
Cash Income Tax Paid	1,366	1,416	739	956	1,418
Levered Free Cash Flow	-1,872	652.63	1,114	793.25	614
Unlevered Free Cash Flow	-1,722	732	1,157	828.88	651.5
Change in Working Capital	-1,023	-68	-794	-429	1,943

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