Billing System Cash Flow Statement

Financials in millions JPY. Fiscal year is January - December.

Millions JPY. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	2020 - 2016
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	2020 - 2016
Net Income	600	623	462	480	349	Upgrade
Depreciation & Amortization	43	48	53	54	52	Upgrade
Loss (Gain) From Sale of Assets	51	-	1	-	-	Upgrade
Other Operating Activities	-250	-132	-173	-142	-40	Upgrade
Change in Accounts Receivable	-80	-80	-40	-51	93	Upgrade
Change in Inventory	-17	8	-49	4	21	Upgrade
Change in Accounts Payable	-35	161	38	59	-59	Upgrade
Change in Other Net Operating Assets	3,889	3,728	5,839	-1,527	5,915	Upgrade
Operating Cash Flow	4,201	4,356	6,131	-1,123	6,331	Upgrade
Operating Cash Flow Growth	-3.56%	-28.95%	-	-	234.09%	Upgrade
Capital Expenditures	-	-	-79	-5	-37	Upgrade
Sale (Purchase) of Intangibles	-37	-48	-54	-11	-37	Upgrade
Other Investing Activities	-	-	67	-96	-12	Upgrade
Investing Cash Flow	-37	-48	-66	-112	-86	Upgrade
Repurchase of Common Stock	-	-	-	-	-99	Upgrade
Common Dividends Paid	-141	-75	-62	-62	-55	Upgrade
Other Financing Activities	-6	-5	-4	-4	-1	Upgrade
Financing Cash Flow	-147	-80	-66	-66	-155	Upgrade
Miscellaneous Cash Flow Adjustments	-1	-1	-2	-2	-	Upgrade
Net Cash Flow	4,016	4,227	5,997	-1,303	6,090	Upgrade
Free Cash Flow	4,201	4,356	6,052	-1,128	6,294	Upgrade
Free Cash Flow Growth	-3.56%	-28.02%	-	-	232.84%	Upgrade
Free Cash Flow Margin	92.41%	103.27%	160.02%	-32.85%	200.25%	Upgrade
Free Cash Flow Per Share	667.95	692.59	962.25	-179.35	988.82	Upgrade
Cash Interest Paid	7	4	2	1	-	Upgrade
Cash Income Tax Paid	250	134	173	143	40	Upgrade
Levered Free Cash Flow	4,132	4,292	5,969	-1,191	6,230	Upgrade
Unlevered Free Cash Flow	4,136	4,294	5,970	-1,190	6,230	Upgrade
Change in Working Capital	3,757	3,817	5,788	-1,515	5,970	Upgrade

Source: S&P Capital IQ. Standard template. Financial Sources.