Golf Do 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	2016 - 2020
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	2016 - 2020
Net Income	158	62	-39	87	233	206	Upgrade
Depreciation & Amortization	136	123	123	151	82	62	Upgrade
Loss (Gain) From Sale of Assets	28	28	1	1	18	22	Upgrade
Other Operating Activities	3	52	-92	26	-116	-8	Upgrade
Change in Accounts Receivable	-38	-41	-33	176	-28	-12	Upgrade
Change in Inventory	-133	-136	16	-161	-322	84	Upgrade
Change in Accounts Payable	41	-31	34	-96	81	154	Upgrade
Change in Other Net Operating Assets	10	-2	29	26	1	72	Upgrade
Operating Cash Flow	205	55	39	210	-51	580	Upgrade
Operating Cash Flow Growth	-	41.03%	-81.43%	-	-	4733.33%	Upgrade
Capital Expenditures	-111	-50	-36	-95	-13	-16	Upgrade
Sale (Purchase) of Intangibles	-106	-171	-88	-70	-125	-23	Upgrade
Other Investing Activities	1	11	2	18	5	-147	Upgrade
Investing Cash Flow	-216	-209	-121	-120	-123	-177	Upgrade
Short-Term Debt Issued	-	230	70	-	-	3	Upgrade
Long-Term Debt Issued	-	640	460	300	200	340	Upgrade
Total Debt Issued	180	870	530	300	200	343	Upgrade
Short-Term Debt Repaid	-	-	-	-200	-	-	Upgrade
Long-Term Debt Repaid	-	-483	-422	-249	-200	-215	Upgrade
Total Debt Repaid	-259	-483	-422	-449	-200	-215	Upgrade
Net Debt Issued (Repaid)	-79	387	108	-149	-	128	Upgrade
Common Dividends Paid	-12	-12	-24	-12	-	-	Upgrade
Other Financing Activities	-	-1	-1	-1	-	1	Upgrade
Financing Cash Flow	-91	374	83	-162	-	129	Upgrade
Foreign Exchange Rate Adjustments	3	-	13	2	4	2	Upgrade
Miscellaneous Cash Flow Adjustments	2	-	1	1	-	-	Upgrade
Net Cash Flow	-97	220	15	-69	-170	534	Upgrade
Free Cash Flow	94	5	3	115	-64	564	Upgrade
Free Cash Flow Growth	-	66.67%	-97.39%	-	-	-	Upgrade
Free Cash Flow Margin	1.54%	0.08%	0.05%	1.90%	-1.12%	10.71%	Upgrade
Free Cash Flow Per Share	17.85	0.97	0.60	22.35	-12.51	112.52	Upgrade
Cash Interest Paid	19	16	10	12	12	16	Upgrade
Cash Income Tax Paid	45	-5	93	-21	117	11	Upgrade
Levered Free Cash Flow	-72.13	-238.25	-56	53.63	-325	435	Upgrade
Unlevered Free Cash Flow	-59.63	-228.88	-49.75	61.13	-316.88	445	Upgrade
Change in Working Capital	-120	-210	46	-55	-268	298	Upgrade

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