Makuake Cash Flow Statement

Financials in millions JPY. Fiscal year is October - September.

Millions JPY. Fiscal year is Oct - Sep.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	2020 - 2017
Period Ending	Dec '25 Dec 31, 2025	Sep '25 Sep 30, 2025	Sep '24 Sep 30, 2024	Sep '23 Sep 30, 2023	Sep '22 Sep 30, 2022	Sep '21 Sep 30, 2021	2020 - 2017
Net Income	-	425	-132	-503	-1,264	326	Upgrade
Depreciation & Amortization	-	177	120	35	172	110	Upgrade
Loss (Gain) From Sale of Assets	-	18	-	-	1,009	-	Upgrade
Loss (Gain) From Sale of Investments	-	35	78	24	-47	-	Upgrade
Other Operating Activities	-	-8	-10	49	-96	-213	Upgrade
Change in Accounts Receivable	-	-78	63	-144	212	-21	Upgrade
Change in Accounts Payable	-	156	-14	5	-260	-282	Upgrade
Change in Other Net Operating Assets	-	260	-1,199	195	-553	231	Upgrade
Operating Cash Flow	-	985	-1,094	-339	-827	151	Upgrade
Operating Cash Flow Growth	-	-	-	-	-	-94.11%	Upgrade
Capital Expenditures	-	-14	-3	-7	-21	-7	Upgrade
Sale (Purchase) of Intangibles	-	-138	-383	-575	-488	-306	Upgrade
Investment in Securities	-	10	-	-	32	-148	Upgrade
Other Investing Activities	-	61	110	-	2	-125	Upgrade
Investing Cash Flow	-	-81	-276	-582	-475	-586	Upgrade
Issuance of Common Stock	-	4	18	14	33	3,915	Upgrade
Financing Cash Flow	-	4	18	14	33	3,915	Upgrade
Miscellaneous Cash Flow Adjustments	-	-	-	-	-	1	Upgrade
Net Cash Flow	-	908	-1,352	-907	-1,269	3,481	Upgrade
Free Cash Flow	-	971	-1,097	-346	-848	144	Upgrade
Free Cash Flow Growth	-	-	-	-	-	-94.37%	Upgrade
Free Cash Flow Margin	-	21.21%	-30.04%	-9.08%	-20.16%	3.12%	Upgrade
Free Cash Flow Per Share	-	76.03	-86.40	-27.46	-67.69	11.46	Upgrade
Cash Income Tax Paid	-	10	10	-49	96	214	Upgrade
Levered Free Cash Flow	-	665.38	-1,450	-755.63	-1,231	-195.38	Upgrade
Unlevered Free Cash Flow	-	665.38	-1,450	-755.63	-1,231	-195.38	Upgrade
Change in Working Capital	-	338	-1,150	56	-601	-72	Upgrade

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