Star Asia Investment Cash Flow Statement

Financials in millions JPY. Fiscal year is August - July.

Millions JPY. Fiscal year is Aug - Jul.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jan '26 Jan 31, 2026	Jul '25 Jul 31, 2025	Jul '24 Jul 31, 2024	Jul '23 Jul 31, 2023	Jul '22 Jul 31, 2022	Jul '21 Jul 31, 2021
Net Income	9,588	9,356	7,197	5,855	5,078	14,210
Depreciation & Amortization	2,400	2,331	2,020	1,520	1,380	1,261
Other Amortization	-	23.62	21.83	13.63	15.56	-
Change in Accounts Receivable	4	-181.66	-303.38	-2.11	-41.41	8.01
Change in Accounts Payable	799	632.58	365.18	292	47.46	-65.68
Change in Other Net Operating Assets	-	2,239	827.45	-298.96	222.89	7,037
Other Operating Activities	9,286	1,660	1,435	1,106	-5.34	-8,895
Operating Cash Flow	22,077	16,061	11,562	8,485	6,697	13,556
Operating Cash Flow Growth	54.35%	38.90%	36.27%	26.70%	-50.60%	162.77%
Acquisition of Real Estate Assets	-8,898	-37,905	-49,727	-16,593	-14,064	-7,636
Net Sale / Acq. of Real Estate Assets	-8,898	-37,905	-49,727	-16,593	-14,064	-7,636
Investment in Marketable & Equity Securities	-	-114	-430	400	238.69	154.53
Other Investing Activities	-1,186	213.69	-173.36	-1,513	340.91	-203.35
Investing Cash Flow	-10,084	-37,805	-52,507	-17,706	-13,485	-7,685
Short-Term Debt Issued	-	-	-	-	500	3,810
Long-Term Debt Issued	-	-	-	-	32,786	21,710
Total Debt Issued	-	23,813	31,140	12,800	33,286	25,520
Short-Term Debt Repaid	-	-	-	-	-2,650	-6,560
Long-Term Debt Repaid	-	-	-	-	-23,450	-20,040
Total Debt Repaid	-800	-6,785	-6,140	-5,600	-26,100	-26,600
Net Debt Issued (Repaid)	-800	17,028	25,000	7,200	7,186	-1,080
Issuance of Common Stock	-	16,079	23,144	6,973	6,329	-
Common Dividends Paid	-9,412	-8,354	-6,662	-5,505	-5,092	-5,493
Other Financing Activities	-	0	-	-0	-	-
Miscellaneous Cash Flow Adjustments	-1	-1	-1	1	-0	5,189
Net Cash Flow	1,780	3,007	536.71	-552.06	1,635	4,487
Cash Interest Paid	1,595	1,360	942.42	741.06	663.67	602.58
Cash Income Tax Paid	8	7.3	0.62	-1.04	2.74	2.01
Levered Free Cash Flow	-	-	-	-	4,661	1,814
Unlevered Free Cash Flow	-	-	-	-	5,086	2,189
Change in Working Capital	803	2,690	889.25	-9.07	228.94	6,979

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