Tokyotokeiba 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	15,110	14,085	12,149	13,353	13,111
Depreciation & Amortization	6,484	6,345	5,554	4,896	4,257
Loss (Gain) From Sale of Assets	441	-	-	1,758	26
Loss (Gain) From Sale of Investments	-	-	-	-536	-219
Other Operating Activities	-4,457	-2,854	-5,134	-4,160	-4,468
Change in Accounts Receivable	259	-797	13	-880	1,329
Change in Inventory	42	-136	-34	-6	-4
Change in Accounts Payable	1,764	-835	589	122	-459
Change in Other Net Operating Assets	258	293	-334	128	793
Operating Cash Flow	19,901	16,101	12,803	14,675	14,366
Operating Cash Flow Growth	23.60%	25.76%	-12.76%	2.15%	9.01%
Capital Expenditures	-6,248	-7,863	-13,952	-5,369	-10,235
Sale of Property, Plant & Equipment	161	-	-	-	-
Sale (Purchase) of Intangibles	-582	-2,575	-5,927	-1,485	-677
Investment in Securities	-6,050	1,827	11,187	-7,987	25
Other Investing Activities	-102	-22	-37	-3	65
Investing Cash Flow	-12,821	-8,633	-8,729	-14,844	-10,822
Short-Term Debt Issued	-	-	-	19	-
Long-Term Debt Issued	-	2,000	5,000	-	9,943
Total Debt Issued	-	2,000	5,000	19	9,943
Short-Term Debt Repaid	-	-24	-	-	-19
Long-Term Debt Repaid	-1,700	-1,600	-11,250	-1,000	-1,000
Total Debt Repaid	-1,700	-1,624	-11,250	-1,000	-1,019
Net Debt Issued (Repaid)	-1,700	376	-6,250	-981	8,924
Repurchase of Common Stock	-3,858	-3,010	-13	-9	-5,017
Common Dividends Paid	-3,138	-2,709	-2,048	-1,774	-1,706
Other Financing Activities	-7	-18	27	-	-2
Financing Cash Flow	-8,703	-5,361	-8,284	-2,764	2,199
Miscellaneous Cash Flow Adjustments	-	-1	-	-	-
Net Cash Flow	-1,623	2,106	-4,210	-2,933	5,743
Free Cash Flow	13,653	8,238	-1,149	9,306	4,131
Free Cash Flow Growth	65.73%	-	-	125.27%	-62.28%
Free Cash Flow Margin	32.70%	20.37%	-3.06%	26.25%	12.99%
Free Cash Flow Per Share	511.87	305.48	-41.92	339.49	145.71
Cash Interest Paid	73	48	43	47	29
Cash Income Tax Paid	4,460	2,853	5,136	4,160	4,470
Levered Free Cash Flow	11,614	4,375	-14,864	13,766	3,010
Unlevered Free Cash Flow	11,660	4,406	-14,837	13,796	3,064
Change in Working Capital	2,323	-1,475	234	-636	1,659

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