Betrend 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	-80	85	98	146	88	Upgrade
Depreciation & Amortization	70	44	51	55	62	Upgrade
Loss (Gain) From Sale of Assets	-	18	-	-	-	Upgrade
Other Operating Activities	-10	-20	-57	-25	-37	Upgrade
Change in Accounts Receivable	28	-14	-19	21	-33	Upgrade
Change in Inventory	-1	1	1	-3	2	Upgrade
Change in Accounts Payable	2	9	-3	-1	-	Upgrade
Change in Other Net Operating Assets	8	18	-26	15	4	Upgrade
Operating Cash Flow	17	141	45	208	86	Upgrade
Operating Cash Flow Growth	-87.94%	213.33%	-78.36%	141.86%	-49.11%	Upgrade
Capital Expenditures	-71	-6	-2	-3	-5	Upgrade
Sale (Purchase) of Intangibles	-93	-64	-50	-40	-52	Upgrade
Other Investing Activities	16	-26	-	-1	-89	Upgrade
Investing Cash Flow	-148	-96	-52	-44	-146	Upgrade
Long-Term Debt Repaid	-	-	-	-9	-16	Upgrade
Net Debt Issued (Repaid)	-	-	-	-9	-16	Upgrade
Issuance of Common Stock	-	2	2	5	70	Upgrade
Repurchase of Common Stock	-	-17	-22	-	-	Upgrade
Other Financing Activities	-	-	-	1	-1	Upgrade
Financing Cash Flow	-	-15	-20	-3	53	Upgrade
Miscellaneous Cash Flow Adjustments	1	-1	-	-	1	Upgrade
Net Cash Flow	-130	29	-27	161	-6	Upgrade
Free Cash Flow	-54	135	43	205	81	Upgrade
Free Cash Flow Growth	-	213.95%	-79.02%	153.09%	-51.20%	Upgrade
Free Cash Flow Margin	-4.66%	11.69%	3.94%	18.84%	7.70%	Upgrade
Free Cash Flow Per Share	-25.04	62.35	19.56	92.25	72.98	Upgrade
Cash Income Tax Paid	10	21	56	25	37	Upgrade
Levered Free Cash Flow	-110.25	30	-25.13	139.88	-3.38	Upgrade
Unlevered Free Cash Flow	-110.25	30	-25.13	139.88	-3.38	Upgrade
Change in Working Capital	37	14	-47	32	-27	Upgrade

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