Kowa Co.,Ltd. Cash Flow Statement

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

Millions JPY. Fiscal year is Mar - Feb.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Feb '25 Feb 28, 2025	Feb '24 Feb 29, 2024	Feb '23 Feb 28, 2023	Feb '22 Feb 28, 2022	Feb '21 Feb 28, 2021
Net Income	929	974	666	575	428
Depreciation & Amortization	226	215	225	247	210
Loss (Gain) From Sale of Assets	42	37	-	-	2
Loss (Gain) From Sale of Investments	2	-	-	-	20
Other Operating Activities	-272	-250	-144	-80	-55
Change in Accounts Receivable	46	-24	-54	-15	140
Change in Inventory	145	-94	-263	-278	157
Change in Accounts Payable	49	-136	128	169	-98
Change in Other Net Operating Assets	-207	20	-1	-102	-176
Operating Cash Flow	960	742	557	516	628
Operating Cash Flow Growth	29.38%	33.21%	7.95%	-17.83%	436.75%
Capital Expenditures	-318	-48	-36	-128	-65
Sale of Property, Plant & Equipment	551	63	-	-	-
Cash Acquisitions	-30	-	-	-	-
Sale (Purchase) of Intangibles	-4	-4	-19	-35	-9
Investment in Securities	-141	-	-93	-59	-
Other Investing Activities	-20	79	3	1	4
Investing Cash Flow	38	92	-145	-215	-29
Short-Term Debt Issued	-	500	-	-	-
Long-Term Debt Issued	-	-	-	-	595
Total Debt Issued	-	500	-	-	595
Short-Term Debt Repaid	-170	-	-	-	-
Long-Term Debt Repaid	-72	-695	-224	-1,224	-1,929
Total Debt Repaid	-242	-695	-224	-1,224	-1,929
Net Debt Issued (Repaid)	-242	-195	-224	-1,224	-1,334
Issuance of Common Stock	13	8	2	583	22
Repurchase of Common Stock	-146	-734	-112	-	-
Common Dividends Paid	-47	-48	-119	-69	-
Other Financing Activities	-127	-116	-109	-112	-99
Financing Cash Flow	-549	-1,085	-562	-822	-1,411
Foreign Exchange Rate Adjustments	69	32	14	63	6
Miscellaneous Cash Flow Adjustments	-	2	-	-	1
Net Cash Flow	518	-217	-136	-458	-805
Free Cash Flow	642	694	521	388	563
Free Cash Flow Growth	-7.49%	33.20%	34.28%	-31.08%	-
Free Cash Flow Margin	10.08%	10.84%	8.31%	6.79%	10.80%
Free Cash Flow Per Share	149.42	149.50	104.69	84.66	127.91
Cash Interest Paid	15	20	25	29	38
Cash Income Tax Paid	276	250	143	78	54
Levered Free Cash Flow	588.75	552.63	407	232.63	438.88
Unlevered Free Cash Flow	598.13	565.13	422.63	250.75	462.63
Change in Working Capital	33	-234	-190	-226	23

Updated Nov 30, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.