Heiwa Real Estate Cash Flow Statement

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

Millions JPY. Fiscal year is Apr - Mar.

Fiscal Year	FY 2026	FY 2025	FY 2024	FY 2023	FY 2022
Period Ending	Mar '26 Mar 31, 2026	Mar '25 Mar 31, 2025	Mar '24 Mar 31, 2024	Mar '23 Mar 31, 2023	Mar '22 Mar 31, 2022
Net Income	15,898	12,434	12,409	13,260	12,544
Depreciation & Amortization	5,911	5,730	5,835	5,724	5,474
Loss (Gain) From Sale of Assets	-35	16	86	169	-293
Loss (Gain) From Sale of Investments	-2,690	-799	-1,034	-3,543	-761
Other Operating Activities	-4,681	-3,440	-4,948	-5,312	-1,080
Change in Accounts Receivable	177	-797	328	440	-115
Change in Inventory	-1,115	3,584	6,273	11,012	18,578
Change in Accounts Payable	462	-1,720	952	490	293
Change in Other Net Operating Assets	925	1,040	-317	1,712	-451
Operating Cash Flow	14,852	16,048	19,584	23,952	34,189
Operating Cash Flow Growth	-7.45%	-18.06%	-18.24%	-29.94%	312.31%
Capital Expenditures	-20,777	-23,717	-18,190	-38,239	-18,218
Sale of Property, Plant & Equipment	46	-	-	-	984
Sale (Purchase) of Intangibles	-65	-900	-74	-2,374	-2,156
Investment in Securities	-4,851	1,136	526	1,843	-630
Other Investing Activities	-823	-1,358	-1,618	-1,480	-685
Investing Cash Flow	-26,470	-24,839	-19,356	-40,250	-20,705
Long-Term Debt Issued	42,181	43,639	23,327	37,650	25,010
Total Debt Issued	42,181	43,639	23,327	37,650	25,010
Short-Term Debt Repaid	-	-	-3,000	-	-5,450
Long-Term Debt Repaid	-23,312	-20,632	-19,698	-17,840	-29,050
Total Debt Repaid	-23,312	-20,632	-22,698	-17,840	-34,500
Net Debt Issued (Repaid)	18,869	23,007	629	19,810	-9,490
Repurchase of Common Stock	-1,756	-9,058	-14	-2,704	-2,820
Common Dividends Paid	-6,050	-5,974	-4,012	-3,761	-3,176
Other Financing Activities	-261	-259	3,677	649	-4
Financing Cash Flow	10,802	7,716	280	13,994	-15,490
Miscellaneous Cash Flow Adjustments	1	1	-	1	532
Net Cash Flow	-815	-1,074	508	-2,303	-1,474
Free Cash Flow	-5,925	-7,669	1,394	-14,287	15,971
Free Cash Flow Margin	-11.65%	-18.23%	3.14%	-32.09%	27.62%
Free Cash Flow Per Share	-88.95	-113.48	19.48	-198.79	217.18
Cash Interest Paid	2,486	1,864	1,650	1,457	1,407
Cash Income Tax Paid	4,703	3,467	4,984	5,315	1,088
Levered Free Cash Flow	-33,111	-21,007	-14,895	-20,646	10,201
Unlevered Free Cash Flow	-31,514	-19,793	-13,824	-19,686	11,120
Change in Working Capital	449	2,107	7,236	13,654	18,305

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