Tokaido REIT Cash Flow Statement

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

Millions JPY. Fiscal year is Feb - Jan.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022
Period Ending	Jan '25 Jan 31, 2025	Jul '24 Jul 31, 2024	Jul '23 Jul 31, 2023	Jul '22 Jul 31, 2022
Net Income	1,858	1,830	1,622	1,199
Depreciation & Amortization	434	422	332	174
Change in Accounts Receivable	-	-8	-84	51
Change in Accounts Payable	146	-220	350	-26
Other Operating Activities	68	192	-536	523
Operating Cash Flow	2,506	2,216	1,684	1,921
Operating Cash Flow Growth	13.09%	31.59%	-12.34%	-
Acquisition of Real Estate Assets	-3,524	-17,232	-28,304	-833
Net Sale / Acq. of Real Estate Assets	-3,524	-17,232	-28,304	-833
Other Investing Activities	260	-2	760	-92
Investing Cash Flow	-3,264	-17,234	-27,544	-925
Total Debt Issued	3,300	8,800	14,100	600
Total Debt Repaid	-	-	-	-350
Net Debt Issued (Repaid)	3,300	8,800	14,100	250
Issuance of Common Stock	-	8,394	14,394	-
Common & Preferred Dividends Paid	-1,826	-1,624	-1,134	-431
Total Dividends Paid	-1,826	-1,624	-1,134	-431
Other Financing Activities	-2	-26	-48	-72
Miscellaneous Cash Flow Adjustments	-2	-2	2	-
Net Cash Flow	712	524	1,454	743
Cash Interest Paid	252	194	138	89
Cash Income Tax Paid	-	-	-	1
Levered Free Cash Flow	-2,217	-15,557	-27,699	-
Unlevered Free Cash Flow	-2,021	-15,335	-27,512	-
Change in Net Working Capital	297	-101	747	-

Updated Mar 18, 2025. Source: S&P Global Market Intelligence. Real Estate template. Financial Sources.