Investor Presentaiton

- 11. Consolidated Cash Flows Operating Activities Unit: (JPY) million YoY Year over year comparison FY20: 40,544 FY21: 43,573 Major Breakdown YOY Change 1Q20 2Q20 11,635 9,863 3Q20 9,901 4Q20 1Q21 9,145 i 7,654 2Q21 3Q21 4Q21 11,212 11,505 13,203 Profit before tax 24,162 +10,127 I Depreciation and amortization 28,444 +471 Changes in operating assets & liabilities (2,892) (4,406) Income taxes paid (5,700) (1,788) Investing Activities FY20: (13,216) Major YOY Breakdown Change FY21: (11,838) Purchase of tangible assets (6,783) (393) 1Q20 2Q20 3Q20 4Q20 1Q21 2Q21 3Q21 4Q21 Purchase of investments accounted for using equity method +4,754 Purchases of a subsidiary (2,612) (2,612) (4,592) (1,954) (2,371) (4,298) (6,414) (1,771) (1,647) (2,006) Purchase of intangible assets such as software Proceeds from sales of tangible assets (leaseback) (4,734) (118) 2,150 (349) Financing Activities FY20: (23,618) FY21: (27,296) Major Breakdown YOY Change 1Q20 2Q20 3Q20 4Q20 1Q21 2Q21 3Q21 4Q21 Payment of operating/finance leases and other financial liabilities (19,983) +186 Repayment of borrowings Dividends paid (3,690) (1,500) (3,836) (2,303) (6,802) (5,167) (7,062) (4,587) (8,875) (4,526) (8,838) (5,056) Internet Initiative Japan Inc. 16

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