Hoshino Resorts REIT, Inc. (TYO:3287)

Hoshino Resorts REIT Cash Flow Statement

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

Fiscal Year	FY 2025	FY	FY 2024	FY 2023	FY 2022
Period Ending	Oct 31, 2025	Mar 31, 2024	Oct 31, 2024	Oct 31, 2023	Oct 31, 2022
Net Income	6,351	-	5,075	4,526	3,731
Depreciation & Amortization	4,087	-	3,715	3,392	3,124
Other Amortization	5.71	-	51.6	2.61	76.24
Gain (Loss) on Sale of Assets	91.94	-	70.23	39.51	15.29
Change in Accounts Receivable	-191.02	-	-56.71	-105.64	-68.79
Change in Accounts Payable	-6.83	-	-25.42	8.07	35.12
Change in Other Net Operating Assets	7,744	-	-584.35	139.78	72.77
Other Operating Activities	5.13	-	3.17	4.5	-4.95
Operating Cash Flow	18,087	-	8,248	8,006	6,980
Operating Cash Flow Growth	-	-	3.02%	14.70%	-
Acquisition of Real Estate Assets	-12,346	-	-35,255	-9,454	-20,779
Net Sale / Acq. of Real Estate Assets	-12,346	-	-35,255	-9,454	-20,779
Investment in Marketable & Equity Securities	-6.92	-	-1.25	-7.84	-51.54
Other Investing Activities	-2,142	-	1,821	46.11	-609
Investing Cash Flow	-14,539	-	-32,724	-12,885	-26,585
Short-Term Debt Issued	300	-	480	1,950	-
Long-Term Debt Issued	15,550	-	25,080	21,230	16,470
Total Debt Issued	15,850	-	25,560	23,180	16,470
Short-Term Debt Repaid	-480	-	-950	-1,000	-450
Long-Term Debt Repaid	-12,253	-	-12,970	-12,467	-9,917
Total Debt Repaid	-12,733	-	-13,920	-13,467	-10,367
Net Debt Issued (Repaid)	3,117	-	11,640	9,713	6,103
Issuance of Common Stock	-	-	18,108	-	19,141
Common Dividends Paid	-5,402	-	-4,497	-4,104	-3,186
Other Financing Activities	-13.81	-	-48.14	-9.25	-73.7
Miscellaneous Cash Flow Adjustments	-	-	-	-0	-
Net Cash Flow	1,249	-	726.73	721.42	2,380
Cash Interest Paid	1,080	-	836.88	617.06	506.94
Cash Income Tax Paid	3.09	-	1.4	1.31	7.16
Levered Free Cash Flow	10,878	-	5,708	2,789	1,821
Unlevered Free Cash Flow	11,558	-	6,229	3,180	2,139
Change in Working Capital	7,547	-	-666.48	42.21	39.1

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