SM ENTERTAINMENT JAPAN 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	448	984	203	-289	-455	Upgrade
Depreciation & Amortization	11	14	19	68	40	Upgrade
Loss (Gain) From Sale of Assets	-	16	1	71	-	Upgrade
Loss (Gain) From Sale of Investments	-	-626	-14	-134	3	Upgrade
Other Operating Activities	-53	-4	-4	-5	-	Upgrade
Change in Accounts Receivable	521	-1,040	-2,468	-1,882	1,258	Upgrade
Change in Inventory	576	-664	-292	168	594	Upgrade
Change in Accounts Payable	53	1,033	1,821	1,791	-1,660	Upgrade
Change in Other Net Operating Assets	-134	-275	-310	99	375	Upgrade
Operating Cash Flow	1,422	-562	-1,044	-113	155	Upgrade
Capital Expenditures	-7	-28	-6	-15	-4	Upgrade
Sale of Property, Plant & Equipment	-	23	-	2	-	Upgrade
Divestitures	-	-	-	-221	-	Upgrade
Sale (Purchase) of Intangibles	-	-4	-4	-89	-159	Upgrade
Investment in Securities	-	631	51	-	-	Upgrade
Other Investing Activities	-50	-27	-2	-2	106	Upgrade
Investing Cash Flow	-54	598	39	-222	-29	Upgrade
Issuance of Common Stock	-	-	-	-13	153	Upgrade
Common Dividends Paid	-115	-	-	-	-	Upgrade
Other Financing Activities	-1	-1	-	-4	-5	Upgrade
Financing Cash Flow	-116	-1	-	-17	148	Upgrade
Foreign Exchange Rate Adjustments	-	3	3	7	1	Upgrade
Miscellaneous Cash Flow Adjustments	-1	-	-	1	-	Upgrade
Net Cash Flow	1,251	38	-1,002	-344	275	Upgrade
Free Cash Flow	1,415	-590	-1,050	-128	151	Upgrade
Free Cash Flow Margin	13.88%	-6.07%	-11.79%	-1.81%	2.68%	Upgrade
Free Cash Flow Per Share	12.21	-5.09	-9.06	-1.10	1.30	Upgrade
Cash Income Tax Paid	54	5	4	7	-	Upgrade
Levered Free Cash Flow	1,387	-734.88	-1,199	-392.13	105	Upgrade
Unlevered Free Cash Flow	1,387	-734.88	-1,199	-392.13	105	Upgrade
Change in Working Capital	1,016	-946	-1,249	176	567	Upgrade

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