Advantage Risk Management Co., Ltd. (TYO:8769)

Advantage Risk Management Cash Flow Statement

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

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar 31, 2025	Mar 31, 2024	Mar 31, 2023	Mar 31, 2022	Mar 31, 2021
Net Income	789	739	547	339	741
Depreciation & Amortization	834	670	529	397	266
Loss (Gain) From Sale of Assets	234	-	-	3	-
Loss (Gain) From Sale of Investments	-	-2	-12	46	-
Loss (Gain) on Equity Investments	-	-	27	-7	-
Other Operating Activities	-284	-199	-134	-196	-293
Change in Accounts Receivable	-8	-70	-76	-87	-105
Change in Other Net Operating Assets	140	154	50	83	103
Operating Cash Flow	1,705	1,292	931	578	712
Operating Cash Flow Growth	31.97%	38.78%	61.07%	-18.82%	-16.73%
Capital Expenditures	-12	-8	-1	-8	-73
Cash Acquisitions	-	-96	-	-	-
Sale (Purchase) of Intangibles	-721	-868	-852	-954	-709
Investment in Securities	-	25	624	-1,186	-
Other Investing Activities	-1,529	-1	10	-	10
Investing Cash Flow	-2,262	-948	-219	-2,148	-772
Long-Term Debt Issued	1,822	-	-	-	-
Total Debt Issued	1,822	-	-	-	-
Long-Term Debt Repaid	-192	-12	-	-	-
Net Debt Issued (Repaid)	1,630	-12	-	-	-
Issuance of Common Stock	-	-	-	-	20
Repurchase of Common Stock	-564	-	-	-299	-
Common Dividends Paid	-203	-169	-169	-169	-186
Other Financing Activities	-3	-1	-	-1	-
Financing Cash Flow	860	-182	-169	-469	-166
Miscellaneous Cash Flow Adjustments	-	-1	-1	1	-
Net Cash Flow	303	161	542	-2,038	-226
Free Cash Flow	1,693	1,284	930	570	639
Free Cash Flow Growth	31.85%	38.06%	63.16%	-10.80%	-24.02%
Free Cash Flow Margin	19.79%	18.35%	14.52%	9.84%	11.72%
Free Cash Flow Per Share	104.91	76.95	55.77	34.08	37.66
Cash Interest Paid	11	1	-	-	-
Cash Income Tax Paid	284	201	134	222	296
Levered Free Cash Flow	692.13	226.13	162.63	-440.38	-81.63
Unlevered Free Cash Flow	698.38	226.75	162.63	-440.38	-81.63
Change in Working Capital	132	84	-26	-4	-2

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