Value Creation Cash Flow Statement

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

Millions JPY. Fiscal year is Mar - Feb.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2021
Period Ending	May '25 May 31, 2025	Feb '25 Feb 28, 2025	Feb '24 Feb 29, 2024	Feb '21 Feb 28, 2021
Net Income	-	86.37	114.36	-
Depreciation & Amortization	-	18.8	10.96	-
Other Amortization	-	-	1.08	-
Other Operating Activities	-	-46.12	19.43	-
Change in Accounts Receivable	-	-493.58	124.29	-
Change in Accounts Payable	-	638.55	53.63	-
Change in Other Net Operating Assets	-	26.74	2.87	-
Operating Cash Flow	-	230.76	326.63	-
Operating Cash Flow Growth	-	-29.35%	-	-
Capital Expenditures	-	-94.82	-3.43	-
Cash Acquisitions	-	-32.9	-	-
Sale (Purchase) of Intangibles	-	-	-27.27	-
Investment in Securities	-	-150	-	-
Other Investing Activities	-	20.63	-56.77	-
Investing Cash Flow	-	-257.09	-87.47	-
Long-Term Debt Issued	-	230	250	-
Short-Term Debt Repaid	-	-	-20.84	-
Long-Term Debt Repaid	-	-263.25	-324	-
Total Debt Repaid	-	-263.25	-344.83	-
Net Debt Issued (Repaid)	-	-33.25	-94.83	-
Issuance of Common Stock	-	-	246.6	-
Common Dividends Paid	-	-13.8	-	-
Other Financing Activities	-	-	-11.76	-
Financing Cash Flow	-	-47.05	140.01	-
Net Cash Flow	-	-73.38	379.16	-
Free Cash Flow	-	135.94	323.2	-
Free Cash Flow Growth	-	-57.94%	-	-
Free Cash Flow Margin	-	3.96%	10.96%	-
Free Cash Flow Per Share	-	53.31	138.32	-
Cash Interest Paid	-	10.14	10.74	-
Cash Income Tax Paid	-	70.68	45.82	-
Levered Free Cash Flow	-	121.99	-	-
Unlevered Free Cash Flow	-	128.33	-	-
Change in Net Working Capital	-	-128.33	-	-

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