NIPPON KANZAI Holdings 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	9,634	8,529	8,662	8,376	8,528
Depreciation & Amortization	1,718	1,073	880	777	736
Loss (Gain) From Sale of Assets	21	40	71	110	32
Loss (Gain) From Sale of Investments	-1,936	-302	-	-100	-401
Loss (Gain) on Equity Investments	955	752	-	-439	-214
Other Operating Activities	-2,929	-3,357	-1,325	-3,057	-1,956
Change in Accounts Receivable	-722	-2,729	-1,686	979	-859
Change in Inventory	-4,400	601	744	575	774
Change in Accounts Payable	-148	753	713	-2,088	659
Change in Other Net Operating Assets	-493	113	-296	-677	182
Operating Cash Flow	1,700	5,473	7,763	4,456	7,481
Operating Cash Flow Growth	-68.94%	-29.50%	74.22%	-40.44%	75.45%
Capital Expenditures	-1,943	-450	-726	-984	-616
Sale of Property, Plant & Equipment	1	10	-	2	31
Cash Acquisitions	-	-502	-	-511	-
Investment in Securities	2,560	-610	-3,831	-340	709
Other Investing Activities	1,451	-1,384	9	-18	28
Investing Cash Flow	1,805	-2,918	-4,511	-1,840	-17
Short-Term Debt Issued	11,650	10,500	-	3,200	2,800
Long-Term Debt Issued	3,800	-	-	-	-
Total Debt Issued	15,450	10,500	-	3,200	2,800
Short-Term Debt Repaid	-11,650	-10,500	-	-3,200	-2,800
Long-Term Debt Repaid	-227	-831	-1,294	-843	-997
Total Debt Repaid	-11,877	-11,331	-1,294	-4,043	-3,797
Net Debt Issued (Repaid)	3,573	-831	-1,294	-843	-997
Repurchase of Common Stock	-2,728	-	-	-	-
Common Dividends Paid	-2,006	-2,019	-2,113	-2,018	-1,868
Other Financing Activities	-952	-492	-310	-213	-188
Financing Cash Flow	-2,113	-3,342	-3,717	-3,074	-3,053
Foreign Exchange Rate Adjustments	280	-389	63	71	77
Miscellaneous Cash Flow Adjustments	433	-1	-	1	-1
Net Cash Flow	2,105	-1,177	-402	-386	4,487
Free Cash Flow	-243	5,023	7,037	3,472	6,865
Free Cash Flow Growth	-	-28.62%	102.68%	-49.43%	93.71%
Free Cash Flow Margin	-0.17%	4.09%	6.22%	3.35%	6.59%
Free Cash Flow Per Share	-6.57	134.37	188.24	92.88	183.64
Cash Interest Paid	53	39	36	21	24
Cash Income Tax Paid	1,672	3,654	1,487	3,278	2,187
Levered Free Cash Flow	96.88	3,836	6,366	2,562	6,474
Unlevered Free Cash Flow	129.38	3,860	6,388	2,575	6,489
Change in Working Capital	-5,763	-1,262	-525	-1,211	756

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