TYO:3470 Cash Flow Statement

Financials in millions JPY. Fiscal year is January - December.

Millions JPY. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Net Income	1,753	1,761	1,513	1,360	1,032
Depreciation & Amortization	925	862	782	643	504
Gain (Loss) on Sale of Assets	7	-	-	-	-
Change in Accounts Receivable	-	-2	4	3	-13
Change in Accounts Payable	27	-39	9	119	9
Other Operating Activities	2,200	478	464	800	145
Operating Cash Flow	4,912	3,060	2,772	2,925	1,677
Operating Cash Flow Growth	60.52%	10.39%	-5.23%	74.42%	10.84%
Acquisition of Real Estate Assets	-2,249	-13,199	-11,830	-11,064	-694
Net Sale / Acq. of Real Estate Assets	-2,249	-13,199	-11,830	-11,064	-694
Other Investing Activities	12	-	-	-	-
Investing Cash Flow	-2,237	-13,199	-11,830	-11,064	-694
Total Debt Issued	-	6,520	5,435	5,240	285
Total Debt Repaid	-	-	-7	-	-15
Net Debt Issued (Repaid)	-	6,520	5,428	5,240	270
Issuance of Common Stock	-	5,070	5,446	4,812	-
Common Dividends Paid	-2,057	-1,693	-1,589	-1,332	-1,086
Other Financing Activities	-	-	-	-1	-
Miscellaneous Cash Flow Adjustments	1	1	-1	1	-
Net Cash Flow	619	-241	226	581	167
Cash Interest Paid	435	260	209	163	121
Cash Income Tax Paid	2	1	-	-	-
Levered Free Cash Flow	791.38	-13,674	-11,070	-9,914	688.75
Unlevered Free Cash Flow	1,168	-13,409	-10,854	-9,742	815
Change in Working Capital	27	-41	13	122	-4