ORIX JREIT Cash Flow Statement

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

Millions JPY. Fiscal year is Mar - Feb.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Aug '25 Aug 31, 2025	Feb '25 Feb 28, 2025	Feb '24 Feb 29, 2024	Feb '23 Feb 28, 2023	Feb '22 Feb 28, 2022	Feb '21 Feb 28, 2021
Net Income	23,540	22,550	19,471	22,972	19,173	20,401
Depreciation & Amortization	8,066	7,781	7,880	8,074	8,306	8,284
Other Amortization	424	392	389	378	390	391
Gain (Loss) on Sale of Assets	37	93	29	18	52	16
Change in Accounts Receivable	187	199	-179	-65	160	-484
Change in Accounts Payable	631	35	130	120	-561	57
Change in Other Net Operating Assets	1,535	7,905	27,388	5,337	2,578	997
Other Operating Activities	-70	-209	143	-158	-37	-312
Operating Cash Flow	34,524	38,903	55,268	36,733	30,183	29,160
Operating Cash Flow Growth	-41.28%	-29.61%	50.46%	21.70%	3.51%	-18.73%
Acquisition of Real Estate Assets	-49,304	-40,097	-	-8,922	-8,151	-11,726
Net Sale / Acq. of Real Estate Assets	-49,304	-40,097	-	-8,922	-8,151	-11,726
Other Investing Activities	-606	1,136	-	249	-19	143
Investing Cash Flow	-49,910	-38,961	-	-8,673	-8,170	-11,583
Short-Term Debt Issued	-	20,000	-	-	1,280	8,700
Long-Term Debt Issued	-	43,870	-	36,880	35,350	49,900
Total Debt Issued	81,350	63,870	-	36,880	36,630	58,600
Short-Term Debt Repaid	-	-18,500	-	-	-3,080	-15,820
Long-Term Debt Repaid	-	-41,260	-	-42,430	-33,630	-37,100
Total Debt Repaid	-51,240	-59,760	-	-42,430	-36,710	-52,920
Net Debt Issued (Repaid)	30,110	4,110	-	-5,550	-80	5,680
Common Dividends Paid	-21,554	-21,308	-	-20,174	-19,588	-21,793
Other Financing Activities	-1	-41	-	-	-19	-37
Miscellaneous Cash Flow Adjustments	-	-	-55,268	-	-2	-3
Net Cash Flow	-6,831	-17,297	-	2,336	2,324	1,424
Cash Interest Paid	2,118	1,752	1,627	1,661	1,784	1,954
Cash Income Tax Paid	30	32	26	37	29	27
Levered Free Cash Flow	25,147	24,520	26,588	24,997	19,885	20,956
Unlevered Free Cash Flow	26,585	25,645	27,587	26,003	20,973	22,125
Change in Working Capital	2,527	8,296	27,357	5,434	2,299	380

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