What does TWOSTONE&Sons do with its cash?

Cash conversion (operating CF ÷ operating income)

91.4%

Cash vs. profit gap

¥255.4M（純利益の 51.7%）

Shareholder payments — dividends

of net income 4.4% · of FCF 3.1%

CapEx intensity (capex ÷ revenue)

0.4%

Investing CF relative to operating CF

170.5%

Nonpositive profit and free cash flow are omitted as ratio denominators. Amounts use the period's reported currency.

• Operating cash flow is the cash the core business actually brought in, including changes in receivables and inventory.
• Free cash flow = operating cash flow − capital expenditure: a gauge of cash available for other uses.
• Large "borrowing" or "cash drawdown" flows mean the company spent more than it generated that year.