Japan Logistics Fund Cash Flow Statement

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

Millions JPY. Fiscal year is Feb - Jan.

Fiscal Year	FY 2026	FY 2025	FY 2024	FY 2023	FY 2022
Period Ending	Jan '26 Jan 31, 2026	Jan '25 Jan 31, 2025	Jan '24 Jan 31, 2024	Jan '23 Jan 31, 2023	Jan '22 Jan 31, 2022
Net Income	12,507	10,725	9,673	9,518	8,324
Depreciation & Amortization	3,657	3,750	3,794	3,826	3,763
Other Amortization	8.46	-	-	-	8.27
Gain (Loss) on Sale of Assets	-1,096	38	30	21	57.91
Change in Accounts Receivable	51.21	58	113	-101	28.27
Change in Accounts Payable	164.65	-190	282	-218	66.28
Change in Other Net Operating Assets	3,167	-	-	-	1,174
Other Operating Activities	39.65	2,871	113	160	12.37
Operating Cash Flow	18,499	17,252	14,005	13,206	13,434
Operating Cash Flow Growth	7.23%	23.18%	6.05%	-1.70%	-53.88%
Acquisition of Real Estate Assets	-6,025	-3,265	-939	-18,647	-5,601
Net Sale / Acq. of Real Estate Assets	-6,025	-3,265	-939	-18,647	-5,601
Other Investing Activities	-251.74	-76	-144	496	223.36
Investing Cash Flow	-6,276	-3,341	-1,083	-18,151	-5,378
Short-Term Debt Issued	2,400	-	-	-	1,500
Long-Term Debt Issued	14,000	-	-	-	20,000
Total Debt Issued	16,400	-	-	5,000	21,500
Short-Term Debt Repaid	-	-	-	-	-1,500
Long-Term Debt Repaid	-15,000	-	-	-	-20,000
Total Debt Repaid	-15,000	-	-	-	-21,500
Net Debt Issued (Repaid)	1,400	-	-	5,000	-
Issuance of Common Stock	-	-	-	8,314	-
Repurchase of Common Stock	-1,490	-	-	-	-
Common Dividends Paid	-11,039	-9,793	-9,699	-9,035	-8,690
Other Financing Activities	-0	-2,652	-936	-44	-15.54
Miscellaneous Cash Flow Adjustments	-0	-2	-2	2	-
Net Cash Flow	1,093	1,464	2,285	-708	-649.76
Cash Interest Paid	808.26	744	768	734	705.07
Cash Income Tax Paid	3.33	-	1	1	1.76
Levered Free Cash Flow	10,883	6,947	9,303	-9,696	10,259
Unlevered Free Cash Flow	11,395	7,487	9,842	-9,165	10,707
Change in Working Capital	3,383	-132	395	-319	1,268

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