Okuwa Cash Flow Statement

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

Millions JPY. Fiscal year is Mar - Feb.

Fiscal Year	FY 2026	FY 2025	FY 2024	FY 2023	FY 2022
Period Ending	Feb '26 Feb 20, 2026	Feb '25 Feb 20, 2025	Feb '24 Feb 20, 2024	Feb '23 Feb 20, 2023	Feb '22 Feb 20, 2022
Net Income	780	-2,528	1,805	1,119	3,057
Depreciation & Amortization	6,409	6,836	6,822	6,758	6,452
Loss (Gain) From Sale of Assets	1,193	3,969	1,081	2,095	2,131
Loss (Gain) From Sale of Investments	-17	-62	-	-	-
Loss (Gain) on Equity Investments	-31	25	-16	4	24
Other Operating Activities	-250	-529	-445	-536	-2,048
Change in Accounts Receivable	-232	-489	56	-640	-188
Change in Inventory	-112	-545	-601	-694	530
Change in Accounts Payable	22	135	701	-1,179	-548
Change in Other Net Operating Assets	-143	-216	289	-996	-820
Operating Cash Flow	7,619	6,596	9,692	5,931	8,590
Operating Cash Flow Growth	15.51%	-31.94%	63.41%	-30.95%	-37.63%
Capital Expenditures	-5,777	-8,877	-7,746	-6,626	-8,152
Sale of Property, Plant & Equipment	14	72	142	105	1,572
Investment in Securities	219	271	-4	-102	-8
Other Investing Activities	-227	-227	-334	-35	-408
Investing Cash Flow	-5,751	-8,741	-7,942	-6,678	-7,016
Short-Term Debt Issued	-	-	190	-	400
Long-Term Debt Issued	4,000	5,000	6,800	6,000	3,000
Total Debt Issued	4,000	5,000	6,990	6,000	3,400
Short-Term Debt Repaid	-	-	-	-400	-
Long-Term Debt Repaid	-3,682	-4,360	-6,129	-4,156	-4,317
Total Debt Repaid	-3,682	-4,360	-6,129	-4,556	-4,317
Net Debt Issued (Repaid)	318	640	861	1,444	-917
Repurchase of Common Stock	-1,000	-2,000	-	-	-
Common Dividends Paid	-1,074	-1,121	-1,140	-1,139	-1,139
Other Financing Activities	-264	-404	-675	-840	-1,088
Financing Cash Flow	-2,020	-2,885	-954	-535	-3,144
Miscellaneous Cash Flow Adjustments	-1	-	-	-	-
Net Cash Flow	-153	-5,030	796	-1,282	-1,570
Free Cash Flow	1,842	-2,281	1,946	-695	438
Free Cash Flow Growth	-	-	-	-	-94.07%
Free Cash Flow Margin	0.73%	-0.91%	0.79%	-0.28%	0.16%
Free Cash Flow Per Share	44.85	-53.52	44.34	-15.84	9.99
Cash Interest Paid	189	109	86	72	64
Cash Income Tax Paid	250	534	446	677	2,049
Levered Free Cash Flow	1,140	-2,368	234.88	-1,060	-527.75
Unlevered Free Cash Flow	1,258	-2,297	288	-1,017	-488.38
Change in Working Capital	-465	-1,115	445	-3,509	-1,026

Updated Feb 20, 2026. Source: S&P Global Market Intelligence. Standard template. Financial Sources.