Hoshino Resorts REIT, Inc. (TYO:3287)

Hoshino Resorts REIT Cash Flow Statement

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

Operating Activities

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Apr 30, 2026	Oct 31, 2025	Oct 31, 2024	Oct 31, 2023	Oct 31, 2022	Oct 31, 2021
Net Income	7,555	6,351	5,075	4,526	3,731	2,879
Depreciation & Amortization	4,143	4,087	3,715	3,392	3,124	2,775
Other Amortization	3.36	5.71	51.6	2.61	76.24	20.62
Gain (Loss) on Sale of Assets	89.11	91.94	70.23	39.51	15.29	-32.07
Change in Accounts Receivable	-340.61	-191.02	-56.71	-105.64	-68.79	25.2
Change in Accounts Payable	82.25	-6.83	-25.42	8.07	35.12	15.74
Change in Other Net Operating Assets	5,198	7,744	-584.35	139.78	72.77	-692.61
Other Operating Activities	12.04	5.13	3.17	4.5	-4.95	-20.13
Operating Cash Flow	16,743	18,087	8,248	8,006	6,980	4,971
Operating Cash Flow Growth	59.36%	119.29%	3.02%	14.70%	40.42%	-37.62%

Investing Activities

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Apr 30, 2026	Oct 31, 2025	Oct 31, 2024	Oct 31, 2023	Oct 31, 2022	Oct 31, 2021
Acquisition of Real Estate Assets	-14,249	-12,346	-35,255	-9,454	-20,779	-12,765
Sale of Real Estate Assets	-	-	-	-	-	7,700
Net Sale / Acq. of Real Estate Assets	-14,249	-12,346	-35,255	-9,454	-20,779	-5,065
Investment in Marketable & Equity Securities	-13.88	-6.92	-1.25	-7.84	-51.54	-
Other Investing Activities	-1,844	-2,142	1,821	46.11	-609	33.42
Investing Cash Flow	-16,108	-14,539	-32,724	-12,885	-26,585	-5,531

Financing Activities

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Apr 30, 2026	Oct 31, 2025	Oct 31, 2024	Oct 31, 2023	Oct 31, 2022	Oct 31, 2021
Short-Term Debt Issued	-	300	480	1,950	-	450
Long-Term Debt Issued	-	15,550	25,080	21,230	16,470	11,210
Total Debt Issued	20,460	15,850	25,560	23,180	16,470	11,660
Short-Term Debt Repaid	-	-480	-950	-1,000	-450	-2,649
Long-Term Debt Repaid	-	-12,253	-12,970	-12,467	-9,917	-8,377
Total Debt Repaid	-12,979	-12,733	-13,920	-13,467	-10,367	-11,026
Net Debt Issued (Repaid)	7,481	3,117	11,640	9,713	6,103	633.85
Issuance of Common Stock	-	-	18,108	-	19,141	1,964
Common Dividends Paid	-6,261	-5,402	-4,497	-4,104	-3,186	-4,274
Other Financing Activities	-10.11	-13.81	-48.14	-9.25	-73.7	-29.36

Net Cash Flow

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Apr 30, 2026	Oct 31, 2025	Oct 31, 2024	Oct 31, 2023	Oct 31, 2022	Oct 31, 2021
Miscellaneous Cash Flow Adjustments	-0	0	-	-0	-	-0
Net Cash Flow	345.29	1,249	726.73	721.42	2,380	-2,265

Free Cash Flow

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Apr 30, 2026	Oct 31, 2025	Oct 31, 2024	Oct 31, 2023	Oct 31, 2022	Oct 31, 2021
Levered Free Cash Flow	8,737	9,795	5,708	2,789	1,821	3,397
Unlevered Free Cash Flow	9,490	10,475	6,229	3,180	2,139	3,708

Additional Metrics

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Apr 30, 2026	Oct 31, 2025	Oct 31, 2024	Oct 31, 2023	Oct 31, 2022	Oct 31, 2021
Cash Interest Paid	1,202	1,080	836.88	617.06	506.94	493.34
Cash Income Tax Paid	3.28	3.09	1.4	1.31	7.16	1.8
Change in Working Capital	4,940	7,547	-666.48	42.21	39.1	-651.67

Data Source: S&P Global Market Intelligence Last updated: Apr 30, 2026

Financial data is provided by S&P Global Market Intelligence and updates within hours after each earnings release, which is every six months for this company.

Update frequency:

Semi-annually

Last checked:

Sep 21, 2026

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