Fukuoka REIT Income Statement

Financials in millions JPY. Fiscal year is September - August.

Millions JPY. Fiscal year is Sep - Aug.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Aug '25 Aug 31, 2025	Aug '24 Aug 31, 2024	Aug '23 Aug 31, 2023	Aug '22 Aug 31, 2022	Aug '21 Aug 31, 2021
Rental Revenue	17,967	17,937	16,389	16,201	16,464
Gain (Loss) on Sale of Assets (Rev)	-	195	-	-	-
Other Revenue	1,360	608.44	1,385	1,288	1,203
Total Revenue	19,327	18,741	17,774	17,489	17,667
Revenue Growth (YoY	3.13%	5.44%	1.63%	-1.00%	-0.08%
Property Expenses	11,956	11,579	11,473	10,860	11,231
Selling, General & Administrative	135.43	136.42	123.33	134.06	136.68
Other Operating Expenses	166.42	135.97	129.64	127.44	137.15
Total Operating Expenses	12,258	11,851	11,726	11,122	11,505
Operating Income	7,069	6,889	6,049	6,368	6,162
Interest Expense	-729.57	-768.72	-563.21	-553.77	-573.4
Interest & Investment Income	30.34	0.04	0.09	0.1	0.1
Other Non-Operating Income	-210.9	-101.82	-194.11	-192.23	-198.22
EBT Excluding Unusual Items	6,159	6,019	5,291	5,622	5,391
Gain (Loss) on Sale of Assets	1,866	237.7	547.76	-	104.25
Pretax Income	8,025	6,257	5,839	5,622	5,495
Income Tax Expense	2.8	3.48	1.96	2.63	2.8
Net Income	8,022	6,253	5,837	5,619	5,492
Net Income to Common	8,022	6,253	5,837	5,619	5,492
Net Income Growth	28.29%	7.13%	3.88%	2.31%	0.12%
Basic Shares Outstanding	1	1	1	1	1
Diluted Shares Outstanding	1	1	1	1	1
Shares Change (YoY)	9.14%	-	-	-	-
EPS (Basic)	9233.51	7855.81	7333.06	7059.31	6899.97
EPS (Diluted)	9233.51	7855.81	7333.06	7059.31	6899.97
EPS Growth	17.54%	7.13%	3.88%	2.31%	0.12%
Dividend Per Share	8299.000	-	7333.000	7059.000	6900.000
Dividend Growth	-	-	3.88%	2.30%	0.12%
Operating Margin	36.58%	36.76%	34.03%	36.41%	34.88%
Profit Margin	41.51%	33.37%	32.84%	32.13%	31.09%
EBITDA	10,351	10,111	9,080	9,369	9,339
EBITDA Margin	53.56%	53.95%	51.08%	53.57%	52.86%
D&A For Ebitda	3,282	3,221	3,031	3,001	3,176
EBIT	7,069	6,889	6,049	6,368	6,162
EBIT Margin	36.58%	36.76%	34.03%	36.41%	34.88%
Funds From Operations (FFO)	9,437	4,401	8,320	8,619	8,564
Adjusted Funds From Operations (AFFO)	9,437	-	8,320	8,619	8,564
FFO Payout Ratio	70.31%	136.70%	67.94%	65.33%	61.43%
Effective Tax Rate	0.03%	0.06%	0.03%	0.05%	0.05%
Revenue as Reported	21,193	9,326	18,322	17,489	17,771

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