for Startups 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
Period Ending	Dec '25 Dec 31, 2025	Mar '25 Mar 31, 2025	Mar '24 Mar 31, 2024	Mar '23 Mar 31, 2023	Mar '22 Mar 31, 2022
Net Income	-	440	397	586	492
Depreciation & Amortization	-	77	55	16	32
Loss (Gain) From Sale of Assets	-	8	-	-	-
Other Operating Activities	-	-194	-79	-255	-19
Change in Accounts Receivable	-	28	-96	-367	-236
Change in Accounts Payable	-	64	-185	-121	287
Change in Other Net Operating Assets	-	-68	87	106	49
Operating Cash Flow	-	355	179	-35	605
Operating Cash Flow Growth	-	98.32%	-	-	-
Capital Expenditures	-	-367	-	-84	-48
Investment in Securities	-	-30	-	-10	-30
Other Investing Activities	-	145	-293	4	-90
Investing Cash Flow	-	-252	-293	-90	-168
Long-Term Debt Issued	-	570	-	-	100
Long-Term Debt Repaid	-	-57	-66	-116	-67
Net Debt Issued (Repaid)	-	513	-66	-116	33
Issuance of Common Stock	-	-	23	4	28
Repurchase of Common Stock	-	-363	-	-	-
Other Financing Activities	-	-1	67	265	176
Financing Cash Flow	-	149	24	153	237
Miscellaneous Cash Flow Adjustments	-	-	1	-1	-
Net Cash Flow	-	252	-89	27	674
Free Cash Flow	-	-12	179	-119	557
Free Cash Flow Margin	-	-0.33%	5.24%	-3.97%	23.72%
Free Cash Flow Per Share	-	-1.69	24.54	-16.31	76.47
Cash Interest Paid	-	5	-	-	-
Cash Income Tax Paid	-	194	79	257	20
Levered Free Cash Flow	-	-21.38	198	-261.38	-
Unlevered Free Cash Flow	-	-18.88	198	-261.38	-
Change in Working Capital	-	24	-194	-382	100

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