Boutiques 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
Period Ending	Sep '25 Sep 30, 2025	Mar '25 Mar 31, 2025	Mar '24 Mar 31, 2024
Net Income	621	705	911
Depreciation & Amortization	197	211	181
Loss (Gain) From Sale of Assets	521	521	-
Other Operating Activities	-470	-293	-347
Change in Accounts Receivable	19	-24	-
Change in Accounts Payable	8	29	-170
Change in Other Net Operating Assets	434	443	199
Operating Cash Flow	1,330	1,592	774
Operating Cash Flow Growth	-1.77%	105.69%	-
Capital Expenditures	-132	-130	-5
Cash Acquisitions	-	-	-793
Sale (Purchase) of Intangibles	-31	-32	-34
Other Investing Activities	-85	-95	-1
Investing Cash Flow	-248	-257	-833
Short-Term Debt Repaid	-	-30	-
Long-Term Debt Repaid	-	-372	-371
Total Debt Repaid	-309	-402	-371
Net Debt Issued (Repaid)	-309	-402	-371
Issuance of Common Stock	15	21	11
Repurchase of Common Stock	-	-299	-300
Financing Cash Flow	-295	-680	-660
Miscellaneous Cash Flow Adjustments	-1	-1	1
Net Cash Flow	786	654	-718
Free Cash Flow	1,198	1,462	769
Free Cash Flow Growth	-10.46%	90.12%	-
Free Cash Flow Margin	22.21%	28.27%	17.42%
Free Cash Flow Per Share	119.55	141.98	70.61
Cash Interest Paid	9	10	12
Cash Income Tax Paid	480	301	347
Levered Free Cash Flow	1,125	1,385	-
Unlevered Free Cash Flow	1,131	1,391	-
Change in Working Capital	461	448	29

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