Advantage Risk Management Cash Flow Statement

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

Millions JPY. Fiscal year is Apr - Mar.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep '25 Sep 30, 2025	Mar '25 Mar 31, 2025	Mar '24 Mar 31, 2024	Mar '23 Mar 31, 2023	Mar '22 Mar 31, 2022	Mar '21 Mar 31, 2021
Net Income	1,140	789	739	547	339	741
Depreciation & Amortization	976	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	-179	-284	-199	-134	-196	-293
Change in Accounts Receivable	-46	-8	-70	-76	-87	-105
Change in Other Net Operating Assets	192	140	154	50	83	103
Operating Cash Flow	2,083	1,705	1,292	931	578	712
Operating Cash Flow Growth	78.64%	31.97%	38.78%	61.07%	-18.82%	-16.73%
Capital Expenditures	-2	-12	-8	-1	-8	-73
Cash Acquisitions	-348	-	-96	-	-	-
Sale (Purchase) of Intangibles	-791	-721	-868	-852	-954	-709
Investment in Securities	-	-	25	624	-1,186	-
Other Investing Activities	-9	-1,529	-1	10	-	10
Investing Cash Flow	-1,150	-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)	-226	1,630	-12	-	-	-
Issuance of Common Stock	-	-	-	-	-	20
Repurchase of Common Stock	-256	-564	-	-	-299	-
Common Dividends Paid	-255	-203	-169	-169	-169	-186
Other Financing Activities	-2	-3	-1	-	-1	-
Financing Cash Flow	-739	860	-182	-169	-469	-166
Miscellaneous Cash Flow Adjustments	-2	-	-1	-1	1	-
Net Cash Flow	192	303	161	542	-2,038	-226
Free Cash Flow	2,081	1,693	1,284	930	570	639
Free Cash Flow Growth	81.27%	31.85%	38.06%	63.16%	-10.80%	-24.02%
Free Cash Flow Margin	21.34%	19.79%	18.35%	14.52%	9.84%	11.72%
Free Cash Flow Per Share	132.12	104.91	76.95	55.77	34.08	37.66
Cash Interest Paid	18	11	1	-	-	-
Cash Income Tax Paid	179	284	201	134	222	296
Levered Free Cash Flow	1,015	692.13	226.13	162.63	-440.38	-81.63
Unlevered Free Cash Flow	1,027	698.38	226.75	162.63	-440.38	-81.63
Change in Working Capital	146	132	84	-26	-4	-2

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