----------- ------------- ----------- ----------- ------------- -------------
Balance, March
31, 2023 36,250,054 $ 14,694,327 $ 9,078,915 $13,577,844 $ (8,069,343) $ 29,281,743
Net income for
the period - - - 1,954,355 - 1,954,355
Foreign
currency
translation
loss - - - - (3,269,650) (3,269,650)
---------- ------------ ---------- ---------- ------------ ------------
Balance,
September 30,
2023 36,250,054 $ 14,694,327 $ 9,078,915 $15,532,199 $(11,338,993) $ 27,966,448
Balance, March
31, 2024 42,220,206 $ 16,716,839 $10,262,191 $21,056,780 $(11,993,026) $ 36,042,784
Transfer of
capital to
capital
reserve - (15,870,723) 15,870,723 - - -
Net income for
the period - - 1,336,229 - 1,336,229
Foreign
currency
translation
gain - - - 1,876,274 1,876,274
---------- ------------ ---------- ---------- ------------ ------------
Balance,
September 30,
2024 42,220,206 $ 846,116 $26,132,914 $22,393,009 $(10,116,752) $ 39,255,287
========== ============ ========== ========== ============ ============
TOKYO LIFESTYLE CO., LTD.
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
For the Six Months
Ended
September 30,
--------------------------
2024 2023
------------ ------------
Cash flows from operating activities:
Net Income $ 1,336,229 $ 1,954,355
Adjustments to reconcile net income
to net cash provided by (used in)
operating activities:
Depreciation and amortization 409,461 526,994
Loss (gain) from disposal of property
and equipment (202,165) 13,704
Loss (gain) from unrealized foreign
currency translation (358,309) 139,012
Reversal of credit losses (26,932) (148,556)
Addition (reversal) of merchandise
inventories written down 14,709 (10,713)
Amortization of operating lease
right-of-use assets 911,218 876,122
Deferred tax benefit (905,570) (1,460,623)
Change in fair value of warrants
liabilities 1,121,968 (1,833)
Investment loss from equity method
investment - 71,200
Gain from disposal of equity method
investment - (195,391)
Changes in operating assets and
liabilities:
Accounts receivable 5,844,436 6,372,895
Accounts receivable - related parties (2,907,787) 309,809
Merchandise inventories (2,768,207) (8,645,561)
Compensation receivable for
consumption tax 695,565 6,116,206
Prepaid expenses and other current
assets (9,394,219) (2,342,968)
Long term prepaid expenses and other
non-current assets 203,598 2,767,762
Accounts payable 3,416,712 2,128,474
Accounts payable - related parties (8,116) 67,840
Deferred revenue 6,937,534 68,324
Taxes payable (4,611,614) (4,136,000)
Other payables and other current
liabilities (552,070) 103,774
Operating lease liabilities (944,078) (838,782)
Other non-current liabilities (197,185) (38,735)
----------- -----------
Net cash (used in) provided by
operating activities (1,984,822) 3,697,309
----------- -----------
Cash flows from investing activities:
Purchase of property and equipment (678,267) (197,825)
Proceeds from disposal of property and
equipment 28,868 710
Proceeds from disposal of equity
method investment - 283,800
Proceeds from disposal of a subsidiary - 35,475
Disposal of a subsidiary, net of cash - (176,133)
Collection of amount due from
(advances made to) related parties 9,256 410,181
----------- -----------
Net cash (used in) provided by
investing activities (640,143) 356,208
----------- -----------
Cash flows from financing activities:
Proceeds from short-term borrowings 2,752,445 -
Repayments of long-term borrowings (129,984) (608,947)
Payments made to related parties (26,132) (166,252)
Repayment of obligations under finance
leases (110,734) (297,843)
----------- -----------
Net cash provided by (used in)
financing activities 2,485,595 (1,073,042)
----------- -----------
Effect of exchange rate fluctuation on
cash 740,954 (1,956,115)
----------- -----------
Net increase in cash 601,584 1,024,360
Cash at beginning of period 2,475,538 1,766,441
----------- -----------
Cash at end of period $ 3,077,122 $ 2,790,801
=========== ===========
Supplemental cash flow information
Cash paid for income taxes $ 2,100,807 $ 592,194
=========== ===========
Cash paid for interest $ 494,581 $ 341,583
=========== ===========
Supplemental non-cash operating
activities
Right of use assets obtained in
exchange for operating lease
liabilities $ 1,561,296 $ 1,512,843
=========== ===========
View original content:https://www.prnewswire.com/news-releases/tokyo-lifestyle-co-ltd-reports-first-six-months-of-fiscal-year-2025-financial-results-302334743.html
SOURCE Tokyo Lifestyle Co., Ltd.
(END) Dow Jones Newswires
December 18, 2024 06:00 ET (11:00 GMT)
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