Verite Cash Flow Statement

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

Millions JPY. Fiscal year is Apr - Mar.

Fiscal Year	TTM	FY 2010	FY 2009	FY 2008	FY 2007	FY 2007
Period Ending	Dec '10 Dec 31, 2010	Mar '10 Mar 31, 2010	Mar '09 Mar 31, 2009	Mar '08 Mar 31, 2008	Oct '07 Oct 31, 2007	Jan '07 Jan 31, 2007
Net Income	-176	-740	-1,935	516	-2,060	-1,199
Depreciation & Amortization	74	79	121	120	80	52
Other Amortization	23	23	-	-	-	-
Loss (Gain) From Sale of Assets	-	-	100	-	-	-
Asset Writedown & Restructuring Costs	130	133	375	136.8	605.33	424
Loss (Gain) From Sale of Investments	16	1	243	-98.4	-38.67	-38
Other Operating Activities	162	-370	134	-48	-24	159
Change in Accounts Receivable	87	400	288	348	389.33	1,627
Change in Inventory	126	-30	-103	-504	906.67	618
Change in Accounts Payable	-465	-644	-587	844.8	-453.33	-1,167
Change in Other Net Operating Assets	-6	142	-298	-583.2	128	-273
Operating Cash Flow	-29	-1,006	-1,662	732	-466.67	203
Capital Expenditures	-129	-35	-203	-309.6	-209.33	-84
Divestitures	-	-	-	-	-	11
Sale (Purchase) of Intangibles	-15	-15	-	-	-	-39
Investment in Securities	-40	-830	505	487.2	-18.67	-191
Other Investing Activities	152	314	531	192	684	220
Investing Cash Flow	-36	-499	758	369.6	456	-83
Short-Term Debt Issued	-	576	-	-	-	8,300
Total Debt Issued	403	576	-	-	4,000	8,300
Short-Term Debt Repaid	-	-	-	-	-	-8,300
Total Debt Repaid	-	-	-	-1,200	-4,000	-8,300
Net Debt Issued (Repaid)	403	576	-	-1,200	-	-
Issuance of Common Stock	-	-	-	-	-	1,516
Repurchase of Common Stock	-	-	-	-	-65.33	-
Common Dividends Paid	-	-	-	-	-	-50
Dividends Paid	-	-	-	-	-	-50
Other Financing Activities	-	-	-	-	1.33	7
Financing Cash Flow	403	576	-	-1,200	-64	1,473
Foreign Exchange Rate Adjustments	-13	30	-96	-	-	-
Miscellaneous Cash Flow Adjustments	-101	1	-	2.4	-	10
Net Cash Flow	224	-898	-1,000	-96	-74.67	1,603
Free Cash Flow	-158	-1,041	-1,865	422.4	-676	119
Free Cash Flow Margin	-1.61%	-11.26%	-16.19%	3.21%	-5.72%	0.87%
Free Cash Flow Per Share	-6.85	-45.14	-81.58	18.31	-39.81	7.01
Cash Income Tax Paid	57	59	29	122.4	84	73
Levered Free Cash Flow	-180.13	-382.25	-868.5	-	-	799.25
Unlevered Free Cash Flow	-179.5	-378.5	-868.5	-	-	799.25
Change in Working Capital	-258	-132	-700	105.6	970.67	805

Updated Feb 14, 2011. Source: S&P Global Market Intelligence. Standard template. Financial Sources.