JPRRF Cash Flow Statement

Financials in millions JPY. Fiscal year is January - December.

Millions JPY. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Jun '25 Jun 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020
Net Income	19,121	16,323	15,457	17,078	16,015	15,118
Depreciation & Amortization	4,361	4,349	4,105	4,102	4,229	4,114
Other Amortization	30.2	38.53	45.2	58.66	42.61	33.14
Change in Accounts Receivable	-105.13	-28.67	-134.81	-268.46	-43.46	-25.07
Change in Accounts Payable	-68.86	152.87	69.17	61.44	46.94	-262.57
Change in Other Net Operating Assets	21,947	19,279	2,987	7,973	10,501	1,495
Other Operating Activities	-166.17	-121.51	-183.15	467.92	-146.23	-102.15
Operating Cash Flow	45,119	39,992	22,345	29,472	30,644	20,370
Operating Cash Flow Growth	140.34%	78.97%	-24.18%	-3.82%	50.44%	-14.81%
Acquisition of Real Estate Assets	-35,715	-40,276	-15,754	-14,341	-31,747	-32,602
Net Sale / Acq. of Real Estate Assets	-35,715	-40,276	-15,754	-14,341	-31,747	-32,602
Investment in Marketable & Equity Securities	-	-	-	-	-88.86	-
Other Investing Activities	257.51	608.66	533.15	-6.04	-207.38	2,424
Investing Cash Flow	-35,461	-39,667	-15,234	-14,348	-32,044	-30,178
Short-Term Debt Issued	-	44,000	5,500	-	14,400	6,000
Long-Term Debt Issued	-	40,000	25,500	26,500	24,133	27,456
Total Debt Issued	74,000	84,000	31,000	26,500	38,533	33,456
Short-Term Debt Repaid	-	-36,000	-5,500	-12,000	-8,400	-1,000
Long-Term Debt Repaid	-	-23,000	-23,000	-18,500	-19,820	-21,000
Total Debt Repaid	-67,000	-59,000	-28,500	-30,500	-28,220	-22,000
Net Debt Issued (Repaid)	7,000	25,000	2,500	-4,000	10,313	11,456
Issuance of Common Stock	-	-	-	13,846	-	16,165
Common Dividends Paid	-15,491	-15,156	-15,305	-15,012	-14,762	-14,193
Other Financing Activities	-	-0	-	-	-	-0
Miscellaneous Cash Flow Adjustments	0	0.01	-0.01	-0	0	0
Net Cash Flow	-2,833	10,169	-5,694	9,959	-5,849	3,621
Cash Interest Paid	1,744	1,646	1,452	1,444	1,392	1,401
Cash Income Tax Paid	4.46	1.61	1.21	1.2	1.21	1.21
Levered Free Cash Flow	18,472	14,599	14,048	15,739	14,126	13,568
Unlevered Free Cash Flow	19,561	15,607	14,944	16,629	14,988	14,440
Change in Working Capital	21,773	19,404	2,922	7,766	10,505	1,207

Source: S&P Global Market Intelligence. Real Estate template. Financial Sources.