Focus on Free Cash Flow and Operating Cash Flow
First written in FY2016. 13 of 25 entries say "Advanced", first in FY2019. Latest entry: 2026-08-07.
The whole theme swung hardest in 2018: 2 of 21 companies on the "Worse" side.
4 other companies' latest entry also says "Worsened".
- FY2026AdvancedAnnual report
「Free cash flow was ¥12.0 billion in fiscal 2025, marking a surplus for the second consecutive fiscal year. The company will continue working to generate stable cash flow through improved profitability and efficient working capital management.」
Free cash flow was ¥12.0 billion, marking a surplus for the second consecutive fiscal year. Cash flow from operating activities was ¥140.0 billion. - FY2026-H1AdvancedAnnual report
「Cash used in operating activities decreased by ¥10.8 billion year on year to ¥26.0 billion. The main sources of cash were a ¥52.5 billion decrease in operating and other receivables and ¥50.2 billion in depreciation and amortisation, while the main uses of cash were a ¥70.7 billion increase in inventories and a ¥32.9 billion decrease in other current liabilities.」
The operating cash flow deficit narrowed by approximately ¥11.0 billion from ¥37.0 billion in the same period of the previous year to ¥26.0 billion, but remained negative. Increases in inventories and other factors continued to drive outflows. - FY2025-H1Widening Operating Cash Flow DeficitAnnual report
「Cash flow from operating activities decreased by ¥21.5 billion year on year to negative ¥36.9 billion. The main sources of cash were a ¥94.9 billion decrease in operating and other receivables and ¥42.8 billion in depreciation and amortisation, while the main uses of cash were a ¥119.4 billion increase in inventories and a ¥49.7 billion increase in advances paid.」
Operating cash flow deteriorated from negative ¥15.4 billion in the same period of the previous year to negative ¥36.9 billion. Increases in inventories and advances paid were the main outflow factors. - FY2024Free cash flow deficit and recovery policyAnnual report
「Free cash flow was negative ¥58.1 billion in fiscal 2023, reflecting a temporary increase in cash requirements due to higher working capital associated with sales growth and investment to increase production capacity in the powersports and engine business. The company will work to achieve an early recovery through future profit growth and more efficient management of working capital.」
The factors behind free cash flow of negative ¥58.1 billion in fiscal 2023 were explained, and a policy of achieving an early recovery through profit growth and efficient working capital management was presented. - FY2024-Q3AdvancedAnnual report
「Cash flow from operating activities improved by ¥15.1 billion year on year to negative ¥97.9 billion.」
The operating cash flow deficit narrowed by ¥15.1 billion from negative ¥113.1 billion in the same period of the previous year to negative ¥97.9 billion, but cash outflows continued to exceed inflows. - FY2024-Q2AdvancedAnnual report
「Cash flow from operating activities improved by ¥54.5 billion year on year to negative ¥15.4 billion.」
Cash flow from operating activities improved by ¥54.5 billion from negative ¥70.0 billion in the same period of the previous year to negative ¥15.4 billion. However, it remained negative. - FY2024-Q1AdvancedAnnual report
「Cash flow from operating activities improved by ¥39.5 billion year on year to negative ¥22.4 billion.」
The operating cash flow deficit narrowed by ¥39.5 billion from negative ¥61.9 billion in the same period of the previous year to negative ¥22.4 billion. However, it remained negative. - FY2023Sharp decline in operating cash flowAnnual report
「Cash generated from operating activities decreased by ¥133.2 billion year on year to ¥23.6 billion. The main sources of cash were ¥77.3 billion in depreciation and amortisation and a ¥42.2 billion increase in operating and other payables, while the main uses of cash were a ¥64.2 billion increase in inventories, a ¥50.2 billion increase in contract assets, and a ¥59.3 billion increase in operating and other receivables.」
Operating cash flow decreased by ¥133.2 billion from ¥156.8 billion in the previous fiscal year to ¥23.6 billion. Increases in inventories, contract assets and operating receivables were factors driving cash outflows. - FY2023-Q3AdvancedAnnual report
「Cash flow from operating activities improved by ¥22.5 billion year on year to negative ¥113.1 billion.」
The operating cash flow deficit narrowed by ¥22.5 billion from negative ¥135.6 billion in the same period of the previous year to negative ¥113.1 billion, but remained negative. - FY2023-Q2AdvancedAnnual report
「Cash flow from operating activities decreased by ¥14.1 billion year on year to negative ¥70.0 billion. The main source of cash was ¥37.5 billion in depreciation, while the main uses of cash were a ¥59.2 billion increase in inventories, a ¥27.7 billion increase in advances paid, and a ¥20.0 billion increase in contract assets.」
The operating cash flow deficit narrowed by ¥14.1 billion from negative ¥84.2 billion in the same period of the previous year to negative ¥70.0 billion. However, cash outflows caused by increases in inventories, advances paid and contract assets continued. - FY2023-Q1Widening Operating Cash Flow DeficitAnnual report
「Cash flow from operating activities decreased by ¥32.4 billion year on year to negative ¥61.9 billion.」
Cash flow from operating activities deteriorated from negative ¥29.5 billion in the same period of the previous year to negative ¥61.9 billion. Increases in inventories and advances paid, together with a decrease in operating liabilities, were cited as outflow factors. - FY2022AdvancedAnnual report
「Cash generated from operating activities increased by ¥109.8 billion from the previous fiscal year to ¥144.4 billion. The main sources of cash were ¥60.8 billion in depreciation and ¥92.0 billion from an increase in contract liabilities (advances received), while the main use of cash was a ¥39.0 billion increase in inventories.」
Operating cash flow increased from ¥34.6 billion in the previous fiscal year to ¥144.4 billion, shifting from cash outflows during the quarter to substantial cash generation for the full year. - FY2022-Q2AdvancedAnnual report
「Cash used in operating activities decreased by ¥5.9 billion year on year to ¥94.8 billion.」
Cash outflows from operating activities decreased by ¥5.9 billion from ¥100.7 billion in the same period of the previous year to ¥94.8 billion. However, operating cash flow remained negative. - FY2021-Q2AdvancedAnnual report
「Cash used in operating activities decreased by ¥148.7 billion year on year to ¥100.7 billion.」
Cash outflows from operating activities decreased by ¥148.7 billion from ¥249.4 billion in the same period of the previous year to ¥100.7 billion. However, operating cash flow remained negative. - FY2020-Q2Increase in operating cash flow outflowsAnnual report
「Cash used in operating activities increased by ¥136.0 billion year on year to ¥249.4 billion. The main sources of cash were ¥2.1 billion in profit before income taxes and ¥30.1 billion in depreciation, while the main uses of cash were a ¥93.2 billion increase in trade receivables, a ¥49.2 billion decrease in trade payables, and a ¥42.3 billion increase in inventories.」
Cash outflows from operating activities increased from ¥113.4 billion in the same period of the previous year to ¥249.4 billion. Increases in trade receivables and inventories, together with a decrease in trade payables, were cited as the main outflow factors. - FY2019AdvancedAnnual report
「Cash generated from operating activities increased by ¥53.7 billion from the previous fiscal year to ¥109.7 billion. This was mainly due to a decrease in trade receivables.」
Operating cash flow increased by ¥53.7 billion from ¥56.0 billion in the previous fiscal year to ¥109.7 billion. Cash used in investing activities was ¥85.3 billion, and cash generation improved from the previous year. - FY2019-Q2Reduction in operating cash flow outflowsAnnual report
「Cash used in operating activities decreased by ¥9.9 billion year on year to ¥113.4 billion.」
Cash outflows from operating activities decreased by ¥9.9 billion year on year, but remained at ¥113.4 billion. The main outflow factor was a ¥78.3 billion increase in inventories. - FY2018-Q2Increase in operating cash flow outflowsAnnual report
「Cash used in operating activities increased by ¥6.0 billion year on year to ¥123.3 billion. The main sources of cash were ¥15.1 billion in profit before income taxes and ¥27.4 billion in depreciation, while the main uses of cash were a ¥43.3 billion increase in trade receivables and a ¥40.4 billion decrease in advances received.」
Cash outflows from operating activities increased by ¥6.0 billion year on year. Increases in trade receivables and a decrease in advances received were cited as factors driving cash outflows. - FY2017-Q2Deterioration in operating cash flowAnnual report
「Cash used in operating activities increased by ¥16.3 billion year on year to ¥117.2 billion. The main source of cash was ¥25.1 billion in depreciation, while the main uses of cash were a ¥58.2 billion increase in trade receivables, a ¥26.6 billion decrease in trade payables, and a ¥21.0 billion decrease in advances received.」
Cash used in operating cash flow increased from ¥100.8 billion in the same period of the previous year to ¥117.2 billion. The note identifies cash outflows related to working capital, including an increase in trade receivables. - FY2016First statedAnnual report
「To enhance corporate value, the company aims to generate free cash flow while steadily carrying out development and capital investment for future growth in addition to strengthening profitability. In particular, it has identified generating operating cash flow as an issue and plans to implement specific measures to improve working capital efficiency, including improving payment terms and reducing assets through supply chain efficiency.」
The company identified improving payment terms, supply chain efficiency and asset reduction as specific measures.