f-code Cash Flow Statement

Financials in millions JPY. Fiscal year is January - December.

Millions JPY. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2019
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '19 Dec 31, 2019
Net Income	2,103	1,322	612	-
Depreciation & Amortization	212	89	65	-
Loss (Gain) From Sale of Assets	2,338	283	-	-
Other Operating Activities	-180	-120	-47	-
Change in Accounts Receivable	-679	-537	-118	-
Change in Accounts Payable	-684	343	47	-
Change in Other Net Operating Assets	-1,941	-464	319	-
Operating Cash Flow	1,169	916	878	-
Operating Cash Flow Growth	27.62%	4.33%	-	-
Capital Expenditures	-13	-5	-18	-
Cash Acquisitions	-3,112	-3,195	-3,019	-
Sale (Purchase) of Intangibles	-75	-94	-28	-
Investment in Securities	-50	100	-	-
Other Investing Activities	-202	106	-339	-
Investing Cash Flow	-3,452	-3,088	-3,404	-
Short-Term Debt Issued	218	-	-	-
Long-Term Debt Issued	7,296	3,640	4,475	-
Total Debt Issued	7,514	3,640	4,475	-
Short-Term Debt Repaid	-	-244	-158	-
Long-Term Debt Repaid	-2,079	-1,686	-713	-
Total Debt Repaid	-2,079	-1,930	-871	-
Net Debt Issued (Repaid)	5,435	1,710	3,604	-
Issuance of Common Stock	59	2,509	2,011	-
Repurchase of Common Stock	-355	-	-	-
Other Financing Activities	-1,008	146	-29	-
Financing Cash Flow	4,131	4,365	5,586	-
Foreign Exchange Rate Adjustments	1	2	1	-
Miscellaneous Cash Flow Adjustments	-	1	-	-
Net Cash Flow	1,849	2,196	3,061	-
Free Cash Flow	1,156	911	860	-
Free Cash Flow Growth	26.89%	5.93%	-	-
Free Cash Flow Margin	9.68%	17.76%	34.65%	-
Free Cash Flow Per Share	89.67	72.36	79.61	-
Cash Interest Paid	142	68	29	-
Cash Income Tax Paid	254	163	58	-
Levered Free Cash Flow	1,938	2,803	-	-
Unlevered Free Cash Flow	2,067	2,870	-	-
Change in Working Capital	-3,304	-658	248	-

Source: S&P Global Market Intelligence. Standard template. Financial Sources.