TYO:8953 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 2024	FY 2023	FY 2022
Period Ending	Feb '26 Feb 28, 2026	Feb '25 Feb 28, 2025	Feb '24 Feb 29, 2024	Feb '23 Feb 28, 2023	Feb '22 Feb 28, 2022
Net Income	45,394	35,496	32,067	31,688	30,473
Depreciation & Amortization	12,184	12,089	12,362	12,665	13,021
Other Amortization	56.08	48	25	50	45
Gain (Loss) on Sale of Assets	-11,280	-3,995	-3,230	-2,568	-2,823
Change in Accounts Receivable	-96.14	-157	164	-140	44
Change in Accounts Payable	392.03	255	-141	578	-1,119
Change in Other Net Operating Assets	553.73	-2,165	-332	753	-3,199
Other Operating Activities	280.35	-14	-436	-25	-99
Operating Cash Flow	47,921	41,939	40,558	42,920	36,516
Operating Cash Flow Growth	14.26%	3.40%	-5.50%	17.54%	13.65%
Acquisition of Real Estate Assets	-91,154	-98,364	-30,720	-12,499	-95,592
Sale of Real Estate Assets	48,636	9,044	11,087	11,966	53,713
Net Sale / Acq. of Real Estate Assets	-42,518	-89,320	-19,633	-533	-41,879
Investment in Marketable & Equity Securities	-1,973	-1,154	-1,004	-2,543	-4,356
Other Investing Activities	1,467	2,538	5,834	-981	-1,156
Investing Cash Flow	-42,860	-87,941	-15,348	-4,119	-47,638
Short-Term Debt Issued	18,200	28,700	-	14,200	6,500
Long-Term Debt Issued	101,475	102,850	-	53,921	81,668
Total Debt Issued	119,675	131,550	40,574	68,121	88,168
Short-Term Debt Repaid	-29,700	-7,900	-	-14,000	-500
Long-Term Debt Repaid	-60,975	-73,150	-	-53,200	-76,750
Total Debt Repaid	-90,675	-81,050	-41,123	-67,200	-77,250
Net Debt Issued (Repaid)	29,000	50,500	-549	921	10,918
Repurchase of Common Stock	-	-1,002	-	-	-
Common Dividends Paid	-40,480	-31,958	-31,971	-31,778	-5,434
Other Financing Activities	-0	19,603	-	-	-27,686
Miscellaneous Cash Flow Adjustments	0	-1	-	-	16,457
Net Cash Flow	-6,419	-8,860	-7,310	7,944	-16,867
Cash Interest Paid	4,479	3,492	3,167	3,149	3,336
Cash Income Tax Paid	1.21	-	-	-	20
Levered Free Cash Flow	43,896	33,738	-	31,631	18,367
Unlevered Free Cash Flow	46,817	35,960	-	33,565	20,386
Change in Working Capital	1,287	-1,685	-230	1,110	-4,101

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