Recovery International 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 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Net Income	207	201	153	148	148
Depreciation & Amortization	11	5	7	9	4
Other Operating Activities	-71	-33	-43	-50	6
Change in Accounts Receivable	-125	-108	-20	-62	-65
Change in Accounts Payable	49	59	25	19	5
Change in Other Net Operating Assets	-1	-5	-8	23	3
Operating Cash Flow	70	119	114	87	101
Operating Cash Flow Growth	-41.18%	4.39%	31.03%	-13.86%	-
Capital Expenditures	-5	-4	-6	-9	-2
Cash Acquisitions	-	-5	-	-	-
Investment in Securities	-	-	-	20	-20
Other Investing Activities	-86	7	-13	-2	-2
Investing Cash Flow	-70	-23	-19	9	-24
Long-Term Debt Issued	200	-	-	-	-
Long-Term Debt Repaid	-23	-17	-22	-26	-38
Net Debt Issued (Repaid)	177	-17	-22	-26	-38
Issuance of Common Stock	-	7	-	207	20
Repurchase of Common Stock	-99	-100	-	-	-
Other Financing Activities	-1	-	-	-10	-
Financing Cash Flow	77	-110	-22	171	-18
Miscellaneous Cash Flow Adjustments	-	-	-1	1	-1
Net Cash Flow	77	-14	72	268	58
Free Cash Flow	65	115	108	78	99
Free Cash Flow Growth	-43.48%	6.48%	38.46%	-21.21%	-
Free Cash Flow Margin	2.42%	5.63%	6.73%	5.63%	8.82%
Free Cash Flow Per Share	47.42	81.72	74.92	54.61	89.90
Cash Interest Paid	1	-	-	-	1
Cash Income Tax Paid	76	48	46	54	2
Levered Free Cash Flow	65.25	66.13	94.38	60.88	73
Unlevered Free Cash Flow	65.88	66.13	94.38	60.88	73.63
Change in Working Capital	-77	-54	-3	-20	-57

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