Activia Properties Cash Flow Statement

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

Millions JPY. Fiscal year is Dec - Nov.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	2016 - 2020
Period Ending	Nov '25 Nov 30, 2025	Nov '24 Nov 30, 2024	Nov '23 Nov 30, 2023	Nov '22 Nov 30, 2022	Nov '21 Nov 30, 2021	2016 - 2020
Net Income	14,310	14,164	17,482	15,732	15,032	Upgrade
Depreciation & Amortization	3,237	3,088	2,941	2,744	2,727	Upgrade
Other Amortization	14.23	18.96	20.89	20.7	111.53	Upgrade
Gain (Loss) on Sale of Assets	15.43	23.41	47.83	1.1	13.09	Upgrade
Change in Accounts Receivable	47.3	97.78	85.8	-63.61	-265.64	Upgrade
Change in Accounts Payable	-159.99	-36.38	217.7	153.63	-32.27	Upgrade
Change in Other Net Operating Assets	242.81	3,775	41,399	5,556	11,701	Upgrade
Other Operating Activities	398.99	502.47	287.48	343.11	460.19	Upgrade
Operating Cash Flow	18,106	21,633	62,481	24,487	29,747	Upgrade
Operating Cash Flow Growth	-16.30%	-65.38%	155.16%	-17.68%	-22.78%	Upgrade
Acquisition of Real Estate Assets	-2,941	-3,216	-47,874	-1,014	-52,227	Upgrade
Net Sale / Acq. of Real Estate Assets	-2,941	-3,216	-47,874	-1,014	-52,227	Upgrade
Investment in Marketable & Equity Securities	-1,281	-306.7	-	-	-	Upgrade
Other Investing Activities	664.82	268.27	1,128	-1,531	1,772	Upgrade
Investing Cash Flow	-3,560	-3,256	-46,746	-2,551	-50,455	Upgrade
Short-Term Debt Issued	1,998	-	29,298	999	3,898	Upgrade
Long-Term Debt Issued	36,473	33,199	38,465	25,780	48,158	Upgrade
Total Debt Issued	38,471	33,199	67,764	26,779	52,056	Upgrade
Short-Term Debt Repaid	-	-	-30,299	-	-10,418	Upgrade
Long-Term Debt Repaid	-38,880	-34,500	-32,250	-27,100	-26,250	Upgrade
Total Debt Repaid	-38,880	-34,500	-62,549	-27,100	-36,668	Upgrade
Net Debt Issued (Repaid)	-409.42	-1,301	5,215	-321.01	15,388	Upgrade
Issuance of Common Stock	-	-	-	-	22,499	Upgrade
Repurchase of Common Stock	-	-6,000	-2,000	-4,000	-	Upgrade
Common Dividends Paid	-14,281	-15,178	-15,528	-15,427	-14,619	Upgrade
Other Financing Activities	-30.85	-64.11	-59.29	-60.74	-54.48	Upgrade
Miscellaneous Cash Flow Adjustments	-0	-0	-0	-0	-	Upgrade
Net Cash Flow	-176	-4,167	3,363	2,128	2,507	Upgrade
Cash Interest Paid	1,847	1,532	1,460	1,396	1,318	Upgrade
Cash Income Tax Paid	6.03	1.46	168.72	31.85	1.6	Upgrade
Levered Free Cash Flow	9,839	7,770	14,302	14,082	25,847	Upgrade
Unlevered Free Cash Flow	10,996	8,766	15,224	14,951	26,673	Upgrade
Change in Working Capital	130.13	3,836	41,702	5,646	11,403	Upgrade

Updated Nov 30, 2025. Source: S&P Global Market Intelligence. Real Estate template. Financial Sources.