TOP CULTURE Cash Flow Statement

Financials in millions JPY. Fiscal year is November - October.

Millions JPY. Fiscal year is Nov - Oct.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	2016 - 2020
Period Ending	Oct '25 Oct 31, 2025	Oct '24 Oct 31, 2024	Oct '23 Oct 31, 2023	Oct '22 Oct 31, 2022	Oct '21 Oct 31, 2021	2016 - 2020
Net Income	-672	-684	-1,348	-240	-1,906	Upgrade
Depreciation & Amortization	441	438	491	343	645	Upgrade
Loss (Gain) From Sale of Assets	103	90	458	54	33	Upgrade
Loss (Gain) From Sale of Investments	20	10	-	-	-	Upgrade
Other Operating Activities	-46	-41	-34	13	-2,196	Upgrade
Change in Accounts Receivable	-74	-52	74	-96	23	Upgrade
Change in Inventory	671	348	49	284	97	Upgrade
Change in Accounts Payable	175	593	54	67	-1,054	Upgrade
Change in Other Net Operating Assets	280	93	52	-205	1,947	Upgrade
Operating Cash Flow	898	795	-204	220	-2,411	Upgrade
Operating Cash Flow Growth	12.96%	-	-	-	-	Upgrade
Capital Expenditures	-121	-64	-34	-68	-121	Upgrade
Sale of Property, Plant & Equipment	-	7	10	45	5	Upgrade
Cash Acquisitions	-	-	-119	-	-	Upgrade
Sale (Purchase) of Intangibles	-1	-	-2	-1	-2	Upgrade
Investment in Securities	-	30	69	-115	-10	Upgrade
Other Investing Activities	212	144	178	116	182	Upgrade
Investing Cash Flow	90	117	102	-23	204	Upgrade
Short-Term Debt Issued	300	-	100	1,200	1,400	Upgrade
Long-Term Debt Issued	-	-	300	600	-	Upgrade
Total Debt Issued	300	-	400	1,800	1,400	Upgrade
Long-Term Debt Repaid	-586	-644	-707	-1,187	-1,655	Upgrade
Total Debt Repaid	-586	-644	-707	-1,187	-1,655	Upgrade
Net Debt Issued (Repaid)	-286	-644	-307	613	-255	Upgrade
Issuance of Common Stock	-	-	649	-	2,039	Upgrade
Common Dividends Paid	-126	-172	-198	-120	-	Upgrade
Other Financing Activities	-361	-679	-55	-431	-476	Upgrade
Financing Cash Flow	-773	-1,495	89	62	1,308	Upgrade
Miscellaneous Cash Flow Adjustments	-	2	1	-1	2	Upgrade
Net Cash Flow	215	-581	-12	258	-897	Upgrade
Free Cash Flow	777	731	-238	152	-2,532	Upgrade
Free Cash Flow Growth	6.29%	-	-	-	-	Upgrade
Free Cash Flow Margin	4.48%	3.97%	-1.26%	0.73%	-9.59%	Upgrade
Free Cash Flow Per Share	49.77	46.83	-19.19	12.58	-209.52	Upgrade
Cash Interest Paid	129	112	109	97	100	Upgrade
Cash Income Tax Paid	37	32	30	4	40	Upgrade
Levered Free Cash Flow	1,103	641.88	274	235.13	-339	Upgrade
Unlevered Free Cash Flow	1,183	711.88	342.75	295.13	-276.5	Upgrade
Change in Working Capital	1,052	982	229	50	1,013	Upgrade

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