Non-Consolidated Statement of Cash Flows

(Unit: Thousands of Yen)

  Fiscal Year Ended
March 31, 2024
Fiscal Year Ended
March 31, 2025
Cash Flows from Operating Activities
  Income Before Income Taxes 725,267 2,169,396
  Depreciation and Amortization 48,694 87,091
  Stock Compensation Expense 19,649 20,373
  Increase (Decrease) in Accrued Bonuses 1,411 13,671
  Interest and Dividend Income (195,867) (191,593)
  Loss on Disposal of Fixed Assets 0 2,274
  Loss (Gain) on Sales of Investment Securities (170,301) (1,512,241)
  Gain on Reversal of Share Acquisition Rights (1,717) (1,936)
  Decrease (Increase) in Trade Receivables (35,235) 72,619
  (Increase) Decrease in inventories 98,502 (215,037)
  Increase (Decrease) in Notes and Accounts Payable—Trade (11,783) 47,554
  (Increase) Decrease in Consumption Taxes Receivable 139,433 26,275
  Other (30,640) 63,412
  Subtotal 587,413 581,860
  Interest and Dividends Received 161,740 157,815
  Income Taxes Paid (79,453) (159,887)
  Income Taxes Refunded 14,979 -
Cash Flows from Operating Activities 684,680 579,789
Cash Flows from Investing Activities
  Purchases of Property, Plant and Equipment (106,840) (40,112)
  Payments for Acquisition of Intangible Assets (25,943) (109,320)
  Payments for Purchase of Investment Securities (12,380) (11,880)
  Proceeds from Sales of Investment Securities 307,854 1,722,768
  Other 4,085 (38,971)
Cash Flows from investing Activities 166,774 1,522,484
Cash Flows from Financing Activities
  Payments for Purchase of Treasury Stock (121) (243)
  Proceeds from Disposal of Treasury Stock 2,430 38,712
  Dividends Paid (460,301) (715,032)
Cash Flows from Financing Activities (457,992) (676,563)
Net Increase (Decrease) in Cash and Cash Equivalents 393,463 1,425,709
Cash and Cash Equivalents at Beginning of Year 5,465,317 5,858,780
Cash and Cash Equivalents at End of Year 5,858,780 7,284,489