SANKEI REAL ESTATE Cash Flow Statement

Financials in millions JPY. Fiscal year is September - August.

Millions JPY. Fiscal year is Sep - Aug.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY	FY 2023
Period Ending	Feb '26 Feb 28, 2026	Aug '25 Aug 31, 2025	Aug '24 Aug 31, 2024	Aug '23 Aug 31, 2023	Mar '23 Mar 31, 2023	Aug '23 Aug 31, 2023
Net Income	-2,460	2,248	2,144	2,207	-	2,207
Depreciation & Amortization	644	644.85	639.57	624.09	-	624.09
Other Amortization	-	0.8	7.76	6.96	-	6.96
Change in Accounts Receivable	-	6.94	-1.11	-0.78	-	-0.78
Change in Accounts Payable	-112	-99.84	-234.75	-35.79	-	-35.79
Change in Other Net Operating Assets	-	418.84	33,951	-150.07	-	-150.07
Other Operating Activities	2,598	2,615	-141.23	242.85	-	242.85
Operating Cash Flow	5,603	5,834	36,365	2,894	-	2,894
Operating Cash Flow Growth	47.32%	-83.96%	1156.62%	-	-	-21.95%
Acquisition of Real Estate Assets	-232	-191.64	-27,806	-7,152	-	-7,152
Net Sale / Acq. of Real Estate Assets	-232	-191.64	-27,806	-7,152	-	-7,152
Other Investing Activities	-251	-51.33	-485.01	-531.45	-	-531.45
Investing Cash Flow	-483	-242.97	-28,291	-7,684	-	-7,684
Total Debt Issued	-	4,300	5,900	12,700	-	12,700
Total Debt Repaid	-700	-4,300	-12,700	-5,900	-	-5,900
Net Debt Issued (Repaid)	-700	-	-6,800	6,800	-	6,800
Common Dividends Paid	-2,246	-2,251	-2,168	-2,551	-	-2,551
Common & Preferred Dividends Paid	-	-	-	-1,077	-	-1,077
Other Financing Activities	-	-	-	-1	-	-1
Miscellaneous Cash Flow Adjustments	-1	-1	-0	1	-	1
Net Cash Flow	2,173	3,340	-892.94	-541.22	-	-541.22
Cash Interest Paid	413	352.46	283.64	240.88	-	240.88
Cash Income Tax Paid	2	2.37	0.96	0.93	-	0.93
Levered Free Cash Flow	-	-	-	-4,740	-	-4,740
Unlevered Free Cash Flow	-	-	-	-4,546	-	-4,546
Change in Working Capital	-112	325.94	33,715	-186.63	-	-186.63