Nippon Building Fund Cash Flow Statement

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

Millions JPY. Fiscal year is Jul - Jun.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Jun '25 Jun 30, 2025	Jun '24 Jun 30, 2024	Jun '23 Jun 30, 2023	Jun '22 Jun 30, 2022	Jun '21 Jun 30, 2021
Net Income	42,847	46,213	42,858	39,625	47,168	38,702
Depreciation & Amortization	15,530	15,515	15,910	15,790	15,152	14,580
Other Amortization	13	27	31	40	40	35
Change in Accounts Receivable	-8	5	-3	-10	22	-35
Change in Accounts Payable	2,749	-1,608	1,046	-894	573	1,096
Change in Other Net Operating Assets	27,375	33,422	49,310	36,609	64,763	39,465
Other Operating Activities	-684	-14	-512	188	-567	342
Operating Cash Flow	87,623	93,206	108,596	91,384	126,570	94,249
Operating Cash Flow Growth	-19.74%	-14.17%	18.83%	-27.80%	34.29%	104.93%
Acquisition of Real Estate Assets	-105,674	-61,876	-54,124	-70,907	-178,196	-286,012
Net Sale / Acq. of Real Estate Assets	-105,674	-61,876	-54,124	-70,907	-178,196	-286,012
Other Investing Activities	3,380	-214	194	526	2,916	14,460
Investing Cash Flow	-102,294	-62,090	-53,930	-70,381	-175,280	-271,552
Short-Term Debt Issued	-	-	-	-	14,000	10,000
Long-Term Debt Issued	-	32,100	39,400	102,000	35,000	165,000
Total Debt Issued	74,700	32,100	39,400	102,000	49,000	175,000
Short-Term Debt Repaid	-	-	-	-9,000	-	-10,000
Long-Term Debt Repaid	-	-25,000	-47,000	-73,000	-25,000	-50,000
Total Debt Repaid	-33,000	-25,000	-47,000	-82,000	-25,000	-60,000
Net Debt Issued (Repaid)	41,700	7,100	-7,600	20,000	24,000	115,000
Issuance of Common Stock	18,013	-	-	-	30,951	122,681
Common Dividends Paid	-42,155	-43,185	-39,120	-42,480	-38,885	-33,685
Other Financing Activities	-	-	-	-	-	-101
Miscellaneous Cash Flow Adjustments	1	-2	1	3	-1	1
Net Cash Flow	2,888	-4,971	7,947	-1,474	-32,645	26,593
Cash Interest Paid	3,227	2,858	2,419	2,629	2,581	2,367
Levered Free Cash Flow	-	41,995	43,351	40,379	44,513	41,535
Unlevered Free Cash Flow	-	43,778	44,870	41,929	46,097	43,063
Change in Working Capital	29,916	31,465	50,309	35,741	64,777	40,590

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