IMAGE MAGIC 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 2023	FY 2022
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Apr '23 Apr 30, 2023	Apr '22 Apr 30, 2022
Net Income	435	380	451.5	75	324
Depreciation & Amortization	269	196	199.5	192	171
Loss (Gain) From Sale of Assets	97	69	60	1	9
Other Operating Activities	-79	-126	-36	-123	-4
Change in Accounts Receivable	-43	1	-100.5	-57	20
Change in Inventory	-146	-4	-105	70	-137
Change in Accounts Payable	107	24	60	30	-24
Change in Other Net Operating Assets	180	51	108	-57	-7
Operating Cash Flow	820	591	637.5	131	352
Operating Cash Flow Growth	38.75%	-7.29%	386.64%	-62.78%	-
Capital Expenditures	-370	-322	-457.5	-221	-89
Sale of Property, Plant & Equipment	-	-	-	25	-
Sale (Purchase) of Intangibles	-20	-61	-34.5	-35	-29
Other Investing Activities	1	-21	-28.5	-9	-23
Investing Cash Flow	-389	-404	-520.5	-240	-141
Total Debt Issued	-	-	300	-	-
Short-Term Debt Repaid	-	-	-	-	-100
Long-Term Debt Repaid	-94	-97	-	-115	-122
Total Debt Repaid	-94	-97	-120	-115	-222
Net Debt Issued (Repaid)	-94	-97	180	-115	-222
Issuance of Common Stock	76	15	-	1	433
Repurchase of Common Stock	-87	-	-	-	-
Common Dividends Paid	-71	-	-	-	-
Other Financing Activities	-28	-27	-24	-53	-40
Financing Cash Flow	-204	-109	156	-167	171
Miscellaneous Cash Flow Adjustments	-1	-	-	-	-1
Net Cash Flow	226	78	273	-276	381
Free Cash Flow	450	269	180	-90	263
Free Cash Flow Growth	67.29%	49.44%	-	-	-
Free Cash Flow Margin	4.79%	3.46%	2.93%	-1.70%	5.37%
Free Cash Flow Per Share	178.30	107.26	72.67	-36.66	128.95
Cash Interest Paid	2	3	3	3	5
Cash Income Tax Paid	80	126	36	126	53
Levered Free Cash Flow	422.25	213.13	-	59.25	136.5
Unlevered Free Cash Flow	423.5	215	-	61.13	139.63
Change in Working Capital	98	72	-37.5	-14	-148

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