Yellow Hat 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	16,443	15,018	15,485	14,144	12,708
Depreciation & Amortization	3,095	2,815	2,419	2,251	2,153
Loss (Gain) From Sale of Assets	459	956	803	665	1,113
Loss (Gain) From Sale of Investments	-64	-	-	-	-
Loss (Gain) on Equity Investments	-82	-43	-31	-25	-64
Other Operating Activities	-5,031	-4,517	-4,984	-5,046	-3,696
Change in Accounts Receivable	-154	1,020	-752	-1,582	-227
Change in Inventory	-383	-454	-2,346	-728	4,740
Change in Accounts Payable	1,365	-2,013	2,215	-128	377
Change in Other Net Operating Assets	629	-1,299	761	181	2,248
Operating Cash Flow	16,277	11,483	13,570	9,732	19,352
Operating Cash Flow Growth	41.75%	-15.38%	39.44%	-49.71%	150.48%
Capital Expenditures	-12,092	-11,093	-13,179	-8,690	-9,470
Sale of Property, Plant & Equipment	606	15	45	23	19
Cash Acquisitions	-4,712	288	6	243	-168
Sale (Purchase) of Intangibles	-191	-608	-512	-388	-189
Investment in Securities	-155	-6	-204	-588	-1,299
Other Investing Activities	-193	93	421	-270	-106
Investing Cash Flow	-16,735	-11,308	-13,420	-9,668	-11,101
Short-Term Debt Issued	35,000	-	-	-	-
Total Debt Issued	35,000	-	-	-	-
Short-Term Debt Repaid	-	-215	-	-500	-
Long-Term Debt Repaid	-	-413	-33	-39	-
Total Debt Repaid	-	-628	-33	-539	-
Net Debt Issued (Repaid)	35,000	-628	-33	-539	-
Repurchase of Common Stock	-5,000	-	-	-	-
Common Dividends Paid	-3,144	-2,957	-2,769	-2,629	-2,395
Other Financing Activities	-1	-3	-	-1	-1
Financing Cash Flow	26,855	-3,588	-2,802	-3,169	-2,396
Foreign Exchange Rate Adjustments	-	1	2	-	-
Miscellaneous Cash Flow Adjustments	-	-1	-1	-21	-1
Net Cash Flow	26,397	-3,413	-2,651	-3,126	5,854
Free Cash Flow	4,185	390	391	1,042	9,882
Free Cash Flow Growth	973.08%	-0.26%	-62.48%	-89.46%	-
Free Cash Flow Margin	2.72%	0.27%	0.27%	0.70%	6.72%
Free Cash Flow Per Share	45.75	4.20	4.22	11.24	106.67
Cash Interest Paid	22	6	4	7	9
Cash Income Tax Paid	5,019	4,712	4,937	4,870	3,665
Levered Free Cash Flow	-162.5	-2,036	-1,924	-1,184	7,929
Unlevered Free Cash Flow	-148.13	-2,032	-1,921	-1,178	7,936
Change in Working Capital	1,457	-2,746	-122	-2,257	7,138

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