Nankai Electric Railway Cash Flow Statement

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

Millions JPY. Fiscal year is Apr - Mar.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	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	34,236	33,793	19,374	8,184	-1,197
Depreciation & Amortization	28,579	27,707	27,849	28,821	29,705
Loss (Gain) From Sale of Assets	698	-6,342	1,204	1,561	2,617
Other Operating Activities	-10,701	-2,080	-3,472	-2,470	-4,723
Change in Accounts Receivable	-10,464	-321	-2,985	5,582	-6,000
Change in Inventory	-3,141	4,694	-2,853	3,119	437
Change in Accounts Payable	4,815	2,935	1,105	-2,802	-953
Change in Other Net Operating Assets	-209	1,837	-1,136	-116	1,452
Operating Cash Flow	43,813	62,223	39,086	41,879	21,338
Operating Cash Flow Growth	-29.59%	59.20%	-6.67%	96.27%	-63.79%
Capital Expenditures	-36,344	-30,393	-32,948	-23,237	-36,756
Sale of Property, Plant & Equipment	1,949	15,292	1,503	661	86
Cash Acquisitions	-5,334	-	-	-	-
Investment in Securities	-5,179	-2,574	-198	-1,830	-1,369
Other Investing Activities	5,609	7,147	5,338	4,737	4,766
Investing Cash Flow	-39,299	-10,528	-26,305	-19,669	-33,273
Short-Term Debt Issued	3,460	-	-	-	6,680
Long-Term Debt Issued	46,751	19,980	32,411	16,820	98,497
Total Debt Issued	50,211	19,980	32,411	16,820	105,177
Short-Term Debt Repaid	-	-2,400	-540	-1,690	-5,000
Long-Term Debt Repaid	-48,629	-61,115	-39,902	-39,118	-61,917
Total Debt Repaid	-48,629	-63,515	-40,442	-40,808	-66,917
Net Debt Issued (Repaid)	1,582	-43,535	-8,031	-23,988	38,260
Common Dividends Paid	-5,912	-2,813	-2,827	-2,819	-1,980
Other Financing Activities	-455	-484	-483	-219	-459
Financing Cash Flow	-4,785	-46,832	-11,341	-27,026	35,821
Miscellaneous Cash Flow Adjustments	-	-1	-1	-	1
Net Cash Flow	-271	4,862	1,439	-4,816	23,887
Free Cash Flow	7,469	31,830	6,138	18,642	-15,418
Free Cash Flow Growth	-76.53%	418.57%	-67.07%	-	-
Free Cash Flow Margin	2.86%	13.18%	2.77%	9.24%	-8.08%
Free Cash Flow Per Share	65.96	281.11	54.20	164.57	-136.12
Cash Interest Paid	3,211	3,285	3,511	3,837	4,121
Cash Income Tax Paid	10,726	2,101	3,435	453	6,944
Levered Free Cash Flow	-3,126	37,379	-4,659	1,256	-20,544
Unlevered Free Cash Flow	-1,106	39,441	-2,475	3,641	-17,950
Change in Working Capital	-8,999	9,145	-5,869	5,783	-5,064

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