Heiwa Paper Cash Flow Statement

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

Millions JPY. Fiscal year is Apr - Mar.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep '25 Sep 30, 2025	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	154	192	220	1,279	148	-23
Depreciation & Amortization	177	166	119	107	101	105
Loss (Gain) From Sale of Assets	6	9	1	-1,130	-	3
Loss (Gain) From Sale of Investments	-	-	-	43	-15	-2
Other Operating Activities	-81	-54	-192	-120	-83	-150
Change in Accounts Receivable	302	801	-521	-179	-4	666
Change in Inventory	95	20	159	-293	-55	285
Change in Accounts Payable	-147	-828	410	279	-27	-586
Change in Other Net Operating Assets	73	-46	-74	135	168	16
Operating Cash Flow	579	260	122	121	233	314
Operating Cash Flow Growth	47.33%	113.12%	0.83%	-48.07%	-25.80%	13.77%
Capital Expenditures	-379	-525	-27	-1,256	-6	-51
Sale of Property, Plant & Equipment	-	-	-	1,200	-	-
Sale (Purchase) of Intangibles	-1	-	-18	-3	-1	-3
Investment in Securities	-21	-20	-16	-344	1	67
Other Investing Activities	-9	-9	48	-5	-7	23
Investing Cash Flow	-410	-554	-13	-408	-13	36
Short-Term Debt Issued	-	35	-	238	-	-
Total Debt Issued	29	35	-	238	-	-
Short-Term Debt Repaid	-	-	-205	-	-	-12
Total Debt Repaid	-496	-	-205	-	-	-12
Net Debt Issued (Repaid)	-467	35	-205	238	-	-12
Repurchase of Common Stock	-	-	-	-75	-	-
Common Dividends Paid	-113	-113	-113	-96	-96	-48
Other Financing Activities	-96	-93	-26	-24	-27	-25
Financing Cash Flow	-676	-171	-344	43	-123	-85
Foreign Exchange Rate Adjustments	3	-	1	-	-	-
Miscellaneous Cash Flow Adjustments	-	-	1	-	-	-
Net Cash Flow	-504	-465	-233	-244	97	265
Free Cash Flow	200	-265	95	-1,135	227	263
Free Cash Flow Growth	-	-	-	-	-13.69%	21.20%
Free Cash Flow Margin	1.26%	-1.65%	0.59%	-7.06%	1.45%	1.80%
Free Cash Flow Per Share	21.14	-28.01	10.04	-118.55	23.54	27.27
Cash Interest Paid	26	26	21	14	6	7
Cash Income Tax Paid	80	48	191	106	-15	59
Levered Free Cash Flow	166	-114.25	-87.75	-1,108	207.5	263.25
Unlevered Free Cash Flow	182.25	-98.63	-75.25	-1,099	211.25	267.63
Change in Working Capital	323	-53	-26	-58	82	381

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