Nippon Prologis REIT Cash Flow Statement

Financials in millions JPY. Fiscal year is June - May.

Millions JPY. Fiscal year is Jun - May.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Nov '25 Nov 30, 2025	May '25 May 31, 2025	May '24 May 31, 2024	May '23 May 31, 2023	May '22 May 31, 2022	May '21 May 31, 2021
Net Income	30,796	27,990	24,870	22,222	22,335	24,549
Depreciation & Amortization	15,056	14,764	14,401	13,485	12,465	11,293
Other Amortization	27.42	27.17	67.5	59.44	73.58	7.2
Gain (Loss) on Sale of Assets	-	-28.38	-	-	-	-
Change in Accounts Receivable	202.61	-89.29	-210.46	-74.35	-435.98	177.86
Change in Accounts Payable	171.54	64.19	102.58	293.09	-20.43	-1,640
Change in Other Net Operating Assets	-2,601	-5,707	5,103	2,089	353.09	4,362
Other Operating Activities	63.63	30.3	-22.84	-85.45	-140.5	-4,153
Operating Cash Flow	43,716	37,050	44,311	37,988	34,630	34,596
Operating Cash Flow Growth	7.92%	-16.38%	16.64%	9.70%	0.10%	20.43%
Acquisition of Real Estate Assets	-44,222	-44,716	-53,840	-45,521	-65,810	-64,091
Net Sale / Acq. of Real Estate Assets	-44,222	-44,716	-53,840	-45,521	-65,810	-64,091
Other Investing Activities	656.65	1,084	1,228	1,574	1,530	1,833
Investing Cash Flow	-53,566	-43,633	-52,616	-43,950	-64,363	-62,258
Short-Term Debt Issued	-	11,000	7,500	5,000	64,400	-
Long-Term Debt Issued	-	59,282	38,000	41,852	46,000	-
Total Debt Issued	67,300	70,282	45,500	46,852	110,400	24,237
Short-Term Debt Repaid	-	-6,000	-9,500	-8,300	-59,100	-
Long-Term Debt Repaid	-	-35,300	-17,500	-27,600	-32,000	-
Total Debt Repaid	-38,300	-41,300	-27,000	-35,900	-91,100	-3,800
Net Debt Issued (Repaid)	29,000	28,982	18,500	10,952	19,300	20,437
Issuance of Common Stock	-	-	25,075	24,410	30,909	37,352
Repurchase of Common Stock	-10,000	-10,000	-	-	-	-
Common Dividends Paid	-31,017	-29,514	-28,015	-26,256	-25,281	-19,686
Other Financing Activities	-0	-0	-0	-	-	-3,751
Miscellaneous Cash Flow Adjustments	-	-	-0	-	0	1
Net Cash Flow	-21,867	-17,114	7,254	3,144	-4,805	6,690
Cash Interest Paid	2,495	2,181	1,887	1,544	1,402	1,237
Cash Income Tax Paid	4.41	4.3	2.13	1.64	1.59	1.48
Levered Free Cash Flow	34,457	28,244	34,769	29,773	26,029	-
Unlevered Free Cash Flow	36,014	29,605	35,938	30,736	26,897	-
Change in Working Capital	-2,227	-5,733	4,995	2,307	-103.32	2,899

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