GRCS Inc. Cash Flow Statement

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

Millions JPY. Fiscal year is Dec - Nov.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2018
Period Ending	Nov '25 Nov 30, 2025	Nov '24 Nov 30, 2024	Nov '23 Nov 30, 2023	Nov '22 Nov 30, 2022	Nov '18 Nov 30, 2018
Net Income	-527.9	25	-172	-191	-
Depreciation & Amortization	204.34	108	45	16	-
Loss (Gain) From Sale of Assets	-	-	-	3	-
Asset Writedown & Restructuring Costs	353.73	-	-	-	-
Stock-Based Compensation	16.6	-	-	-	-
Provision & Write-off of Bad Debts	-4.49	-	-	-	-
Other Operating Activities	49.79	-2	-14	-19	-
Change in Accounts Receivable	65.05	-151	58	-132	-
Change in Inventory	-2.6	-1	-1	1	-
Change in Accounts Payable	-16.89	212	-44	82	-
Change in Unearned Revenue	-13.16	-	-	-	-
Change in Other Net Operating Assets	-104.22	121	7	-11	-
Operating Cash Flow	20.25	312	-121	-251	-
Operating Cash Flow Growth	-93.51%	-	-	-	-
Capital Expenditures	-9.26	-7	-29	-29	-
Cash Acquisitions	-200	-	-	61	-
Sale (Purchase) of Intangibles	-88.2	-13	-6	-1	-
Other Investing Activities	0.28	-204	-179	-12	-
Investing Cash Flow	-297.18	-224	-214	19	-
Short-Term Debt Issued	-	-	70	-	-
Long-Term Debt Issued	386.14	250	197	420	-
Total Debt Issued	386.14	250	267	420	-
Short-Term Debt Repaid	-37.5	-62	-	-8	-
Long-Term Debt Repaid	-278.25	-204	-172	-108	-
Total Debt Repaid	-315.74	-266	-172	-116	-
Net Debt Issued (Repaid)	70.39	-16	95	304	-
Issuance of Common Stock	-	116	8	1	-
Repurchase of Common Stock	-	-	-	-99	-
Other Financing Activities	-0	-59	1	-2	-
Financing Cash Flow	70.39	41	104	204	-
Foreign Exchange Rate Adjustments	-2.73	-1	-4	-	-
Miscellaneous Cash Flow Adjustments	-0	-	-	1	-
Net Cash Flow	-209.27	128	-235	-27	-
Free Cash Flow	10.99	305	-150	-280	-
Free Cash Flow Growth	-96.40%	-	-	-	-
Free Cash Flow Margin	0.33%	9.28%	-5.39%	-11.68%	-
Free Cash Flow Per Share	8.14	230.57	-117.00	-215.14	-
Cash Interest Paid	11.45	7	7	4	-
Cash Income Tax Paid	25.39	2	15	23	-
Levered Free Cash Flow	-42.41	289.13	-82.63	-	-
Unlevered Free Cash Flow	-31.55	293.5	-78.25	-	-
Change in Working Capital	-71.82	181	20	-60	-

Updated Nov 30, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.