Advantage Risk Management Cash Flow Statement

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

Millions JPY. Fiscal year is Apr - Mar.

Fiscal Year	FY 2026	FY 2025	FY 2024	FY 2023	FY 2022
Period Ending	Mar '26 Mar 31, 2026	Mar '25 Mar 31, 2025	Mar '24 Mar 31, 2024	Mar '23 Mar 31, 2023	Mar '22 Mar 31, 2022
Net Income	1,008	789	739	547	339
Depreciation & Amortization	1,052	834	670	529	397
Loss (Gain) From Sale of Assets	14	234	-	-	3
Loss (Gain) From Sale of Investments	-	-	-2	-12	46
Loss (Gain) on Equity Investments	-	-	-	27	-7
Other Operating Activities	-135	-284	-199	-134	-196
Change in Accounts Receivable	21	-8	-70	-76	-87
Change in Other Net Operating Assets	-34	140	154	50	83
Operating Cash Flow	1,926	1,705	1,292	931	578
Operating Cash Flow Growth	12.96%	31.97%	38.78%	61.07%	-18.82%
Capital Expenditures	-13	-12	-8	-1	-8
Cash Acquisitions	-348	-	-96	-	-
Sale (Purchase) of Intangibles	-710	-721	-868	-852	-954
Investment in Securities	-	-	25	624	-1,186
Other Investing Activities	9	-1,529	-1	10	-
Investing Cash Flow	-1,062	-2,262	-948	-219	-2,148
Long-Term Debt Issued	-	1,822	-	-	-
Total Debt Issued	-	1,822	-	-	-
Short-Term Debt Repaid	-150	-	-	-	-
Long-Term Debt Repaid	-344	-192	-12	-	-
Total Debt Repaid	-494	-192	-12	-	-
Net Debt Issued (Repaid)	-494	1,630	-12	-	-
Repurchase of Common Stock	-	-564	-	-	-299
Common Dividends Paid	-255	-203	-169	-169	-169
Other Financing Activities	-1	-3	-1	-	-1
Financing Cash Flow	-750	860	-182	-169	-469
Miscellaneous Cash Flow Adjustments	-1	-	-1	-1	1
Net Cash Flow	113	303	161	542	-2,038
Free Cash Flow	1,913	1,693	1,284	930	570
Free Cash Flow Growth	13.00%	31.85%	38.06%	63.16%	-10.80%
Free Cash Flow Margin	19.28%	19.79%	18.35%	14.52%	9.84%
Free Cash Flow Per Share	121.83	104.91	76.95	55.77	34.08
Cash Interest Paid	18	11	1	-	-
Cash Income Tax Paid	143	284	201	134	222
Levered Free Cash Flow	926.25	692.13	226.13	162.63	-440.38
Unlevered Free Cash Flow	938.13	698.38	226.75	162.63	-440.38
Change in Working Capital	-13	132	84	-26	-4