NTT UD REIT Investment Cash Flow Statement

Financials in millions JPY. Fiscal year is November - October.

Millions JPY. Fiscal year is Nov - Oct.

Fiscal Year	FY 2024	FY 2024	FY 2023	FY 2023	FY 2023	2018 - 2022
Period Ending	Oct '24 Oct 31, 2024	Apr '24 Apr 30, 2024	Oct '23 Oct 31, 2023	Apr '23 Apr 30, 2023	Oct '23 Oct 31, 2023	2018 - 2022
Net Income	8,583	8,446	10,049	8,917	10,049	Upgrade
Depreciation & Amortization	3,405	3,350	3,148	3,163	3,148	Upgrade
Other Amortization	12.83	-	9.39	9.39	9.39	Upgrade
Change in Accounts Receivable	-91.71	200	-66.4	-146.78	-66.4	Upgrade
Change in Accounts Payable	78.22	-172	477.02	-92.93	477.02	Upgrade
Change in Other Net Operating Assets	307.06	-	3,348	684.8	3,348	Upgrade
Other Operating Activities	-29.17	-864	3,830	3,595	3,830	Upgrade
Operating Cash Flow	12,227	10,960	20,783	16,034	20,783	Upgrade
Operating Cash Flow Growth	11.56%	-47.26%	29.62%	-22.85%	29.62%	Upgrade
Acquisition of Real Estate Assets	-39,416	-75,956	-8,565	-8,236	-8,565	Upgrade
Net Sale / Acq. of Real Estate Assets	-39,416	-75,956	-8,565	-8,236	-8,565	Upgrade
Other Investing Activities	192.92	974	-587.54	-464.95	-587.54	Upgrade
Investing Cash Flow	-39,231	-74,982	-9,154	-8,703	-9,154	Upgrade
Short-Term Debt Issued	9,700	-	-	-	-	Upgrade
Long-Term Debt Issued	34,300	-	-	-	-	Upgrade
Total Debt Issued	44,000	57,600	19,700	14,500	19,700	Upgrade
Short-Term Debt Repaid	-5,700	-	-	-	-	Upgrade
Long-Term Debt Repaid	-11,500	-	-	-	-	Upgrade
Total Debt Repaid	-17,200	-4,000	-23,500	-17,400	-23,500	Upgrade
Net Debt Issued (Repaid)	26,800	53,600	-3,800	-2,900	-3,800	Upgrade
Issuance of Common Stock	9,516	19,032	-	-	-	Upgrade
Common Dividends Paid	-8,761	-	-3,903	-5,679	-3,903	Upgrade
Common & Preferred Dividends Paid	-	-9,080	-4,506	-3,902	-4,506	Upgrade
Total Dividends Paid	-8,761	-9,080	-8,409	-9,581	-8,409	Upgrade
Other Financing Activities	-17.17	-36	-	-	-	Upgrade
Miscellaneous Cash Flow Adjustments	-	2	-2	-1	-2	Upgrade
Net Cash Flow	534.29	-504	-582.14	-5,151	-582.14	Upgrade
Cash Interest Paid	1,175	1,178	903.09	965.25	903.09	Upgrade
Cash Income Tax Paid	1.35	-4	-0.69	-0.07	-0.69	Upgrade
Levered Free Cash Flow	7,823	-68,775	9,168	-4,935	9,168	Upgrade
Unlevered Free Cash Flow	8,539	-68,115	9,709	-4,395	9,709	Upgrade
Change in Net Working Capital	982.82	1,471	-643.17	-928	-643.17	Upgrade

Updated Jan 30, 2025. Source: S&P Global Market Intelligence. Real Estate template. Financial Sources.