Belc CO., LTD. Cash Flow Statement

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

Millions JPY. Fiscal year is Mar - Feb.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Feb '25 Feb 28, 2025	Feb '24 Feb 29, 2024	Feb '23 Feb 28, 2023	Feb '22 Feb 28, 2022	Feb '21 Feb 28, 2021
Net Income	17,074	14,733	14,241	13,597	12,144
Depreciation & Amortization	7,594	6,968	6,524	6,291	5,933
Loss (Gain) From Sale of Assets	294	258	56	286	414
Other Operating Activities	-3,951	-4,916	-5,052	-4,026	-3,025
Change in Accounts Receivable	-136	-1,020	-609	744	-702
Change in Inventory	-1,912	-1,109	-918	-330	-426
Change in Accounts Payable	1,900	3,267	2,023	568	2,170
Change in Other Net Operating Assets	1,827	2,878	-647	-71	840
Operating Cash Flow	22,690	21,059	15,618	17,059	17,348
Operating Cash Flow Growth	7.75%	34.84%	-8.45%	-1.67%	41.69%
Capital Expenditures	-17,814	-17,117	-16,538	-16,251	-13,952
Sale of Property, Plant & Equipment	-156	1,868	799	-66	-27
Sale (Purchase) of Intangibles	-467	-1,033	-271	-512	-180
Investment in Securities	-9	-	-7	-	-
Other Investing Activities	-3,296	165	160	-1,636	139
Investing Cash Flow	-21,719	-16,227	-15,928	-18,476	-14,001
Long-Term Debt Issued	11,199	7,000	14,000	15,000	5,000
Short-Term Debt Repaid	-	-	-500	-300	-
Long-Term Debt Repaid	-8,873	-8,058	-6,796	-6,098	-5,671
Total Debt Repaid	-8,873	-8,058	-7,296	-6,398	-5,671
Net Debt Issued (Repaid)	2,326	-1,058	6,704	8,602	-671
Repurchase of Common Stock	-	-	-114	-	-
Common Dividends Paid	-2,419	-2,065	-1,919	-1,856	-1,690
Other Financing Activities	-72	-259	-574	-908	-1,139
Financing Cash Flow	-165	-3,382	4,097	5,838	-3,500
Miscellaneous Cash Flow Adjustments	-1	-2	-	-	-
Net Cash Flow	805	1,448	3,787	4,421	-153
Free Cash Flow	4,876	3,942	-920	808	3,396
Free Cash Flow Growth	23.69%	-	-	-76.21%	90.57%
Free Cash Flow Margin	1.26%	1.12%	-0.30%	0.27%	1.19%
Free Cash Flow Per Share	233.91	189.11	-44.12	38.72	162.75
Cash Interest Paid	146	113	72	56	57
Cash Income Tax Paid	3,935	4,900	5,038	4,015	3,539
Levered Free Cash Flow	1,020	2,184	-1,631	-928.25	1,190
Unlevered Free Cash Flow	1,128	2,265	-1,561	-876.38	1,245
Change in Working Capital	1,679	4,016	-151	911	1,882

Updated Nov 30, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.