One REIT Cash Flow Statement

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

Millions JPY. Fiscal year is Mar - Feb.

Fiscal Year	FY 2026	FY 2025	FY	FY 2024	FY
Period Ending	Feb '26 Feb 28, 2026	Feb '25 Feb 28, 2025	Sep '24 Sep 30, 2024	Feb '24 Feb 29, 2024	Sep '23 Sep 30, 2023
Net Income	4,400	3,960	-	3,628	-
Depreciation & Amortization	1,226	1,227	-	1,215	-
Other Amortization	4.37	13.21	-	9.56	-
Asset Writedown	-	20.93	-	-	-
Change in Accounts Receivable	-16.14	-12.78	-	21	-
Change in Accounts Payable	83.68	-51.41	-	-104.79	-
Change in Other Net Operating Assets	6,239	1,034	-	303.93	-
Other Operating Activities	6,005	-5.37	-	-134.7	-
Operating Cash Flow	17,943	6,186	-	4,938	-
Operating Cash Flow Growth	190.06%	-	-	-	-
Acquisition of Real Estate Assets	-13,697	-1,056	-	-991.67	-
Net Sale / Acq. of Real Estate Assets	-13,697	-1,056	-	-991.67	-
Investment in Marketable & Equity Securities	0.15	0.1	-	0.63	-
Other Investing Activities	-551.24	79.99	-	199.07	-
Investing Cash Flow	-14,248	-975.72	-	-791.97	-
Short-Term Debt Issued	-	1,500	-	-	-
Long-Term Debt Issued	-	11,000	-	-	-
Total Debt Issued	2,876	12,500	-	-	-
Short-Term Debt Repaid	-	-1,000	-	-	-
Long-Term Debt Repaid	-	-11,500	-	-	-
Total Debt Repaid	-3,000	-12,500	-	-	-
Net Debt Issued (Repaid)	-124.41	-	-	-	-
Common Dividends Paid	-4,172	-3,631	-	-3,667	-
Miscellaneous Cash Flow Adjustments	0	-0	-	-0	-
Net Cash Flow	-602.35	1,579	-	479.11	-
Cash Interest Paid	617.78	492.15	-	425.02	-
Cash Income Tax Paid	1.7	2.63	-	1.91	-
Levered Free Cash Flow	-	3,821	-	-	-
Unlevered Free Cash Flow	-	4,126	-	-	-
Change in Working Capital	6,307	969.68	-	220.13	-

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