Koken 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 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Net Income	-	1,002	978	1,160	1,176
Depreciation & Amortization	-	441	490	594	666
Other Operating Activities	-	-186	-401	-275	-366
Change in Accounts Receivable	-	-563	-21	-405	-700
Change in Inventory	-	-99	115	-594	199
Change in Accounts Payable	-	66	-32	59	-60
Change in Other Net Operating Assets	-	5	-48	79	-260
Operating Cash Flow	-	666	1,081	618	655
Operating Cash Flow Growth	-	-38.39%	74.92%	-5.65%	-52.29%
Capital Expenditures	-	-220	-194	-166	-237
Sale of Property, Plant & Equipment	-	-	-	2	139
Other Investing Activities	-	122	-12	-20	245
Investing Cash Flow	-	-98	-206	-184	147
Long-Term Debt Issued	-	1,400	1,400	1,400	1,400
Total Debt Issued	-	1,400	1,400	1,400	1,400
Short-Term Debt Repaid	-	-620	-20	-20	-20
Long-Term Debt Repaid	-	-1,604	-1,350	-1,234	-1,172
Total Debt Repaid	-	-2,224	-1,370	-1,254	-1,192
Net Debt Issued (Repaid)	-	-824	30	146	208
Issuance of Common Stock	-	-	-	57	24
Repurchase of Common Stock	-	-	-	-172	-24
Common Dividends Paid	-	-174	-225	-176	-226
Other Financing Activities	-	-55	-112	-146	-158
Financing Cash Flow	-	-1,053	-307	-291	-176
Foreign Exchange Rate Adjustments	-	38	24	55	-3
Miscellaneous Cash Flow Adjustments	-	-	-	-	-1
Net Cash Flow	-	-447	592	198	622
Free Cash Flow	-	446	887	452	418
Free Cash Flow Growth	-	-49.72%	96.24%	8.13%	-41.13%
Free Cash Flow Margin	-	4.14%	8.38%	4.26%	4.10%
Free Cash Flow Per Share	-	90.21	179.51	91.06	83.50
Cash Interest Paid	-	48	46	43	41
Cash Income Tax Paid	-	185	398	272	364
Levered Free Cash Flow	-	325.88	698.88	320.38	222.63
Unlevered Free Cash Flow	-	355.25	727	346.63	248.25
Change in Working Capital	-	-591	14	-861	-821

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