Okuwa 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 20, 2025	Feb '24 Feb 20, 2024	Feb '23 Feb 20, 2023	Feb '22 Feb 20, 2022	Feb '21 Feb 20, 2021
Net Income	-2,528	1,805	1,119	3,057	5,214
Depreciation & Amortization	6,836	6,822	6,758	6,452	6,255
Loss (Gain) From Sale of Assets	3,969	1,081	2,095	2,131	2,049
Loss (Gain) From Sale of Investments	-62	-	-	-	-
Loss (Gain) on Equity Investments	25	-16	4	24	18
Other Operating Activities	-529	-445	-536	-2,048	-1,271
Change in Accounts Receivable	-489	56	-640	-188	-1,027
Change in Inventory	-545	-601	-694	530	462
Change in Accounts Payable	135	701	-1,179	-548	505
Change in Other Net Operating Assets	-216	289	-996	-820	1,567
Operating Cash Flow	6,596	9,692	5,931	8,590	13,772
Operating Cash Flow Growth	-31.94%	63.41%	-30.95%	-37.63%	43.37%
Capital Expenditures	-8,877	-7,746	-6,626	-8,152	-6,391
Sale of Property, Plant & Equipment	72	142	105	1,572	828
Investment in Securities	271	-4	-102	-8	-8
Other Investing Activities	-227	-334	-35	-408	597
Investing Cash Flow	-8,741	-7,942	-6,678	-7,016	-5,034
Short-Term Debt Issued	-	190	-	400	-
Long-Term Debt Issued	5,000	6,800	6,000	3,000	2,000
Total Debt Issued	5,000	6,990	6,000	3,400	2,000
Short-Term Debt Repaid	-	-	-400	-	-200
Long-Term Debt Repaid	-4,360	-6,129	-4,156	-4,317	-5,752
Total Debt Repaid	-4,360	-6,129	-4,556	-4,317	-5,952
Net Debt Issued (Repaid)	640	861	1,444	-917	-3,952
Repurchase of Common Stock	-2,000	-	-	-	-
Common Dividends Paid	-1,121	-1,140	-1,139	-1,139	-1,139
Other Financing Activities	-404	-675	-840	-1,088	-1,424
Financing Cash Flow	-2,885	-954	-535	-3,144	-6,515
Net Cash Flow	-5,030	796	-1,282	-1,570	2,223
Free Cash Flow	-2,281	1,946	-695	438	7,381
Free Cash Flow Growth	-	-	-	-94.07%	76.03%
Free Cash Flow Margin	-0.91%	0.79%	-0.28%	0.16%	2.64%
Free Cash Flow Per Share	-53.52	44.34	-15.84	9.99	168.33
Cash Interest Paid	109	86	72	64	77
Cash Income Tax Paid	534	446	677	2,049	1,276
Levered Free Cash Flow	-2,368	234.88	-1,060	-527.75	7,323
Unlevered Free Cash Flow	-2,297	288	-1,017	-488.38	7,372
Change in Working Capital	-1,115	445	-3,509	-1,026	1,507

Updated Nov 20, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.