Ichigo Office REIT Investment Corporation (TYO:8975)

TYO:8975 Cash Flow Statement

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

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Oct 31, 2025	Oct 31, 2024	Oct 31, 2023	Oct 31, 2022	Oct 31, 2021
Net Income	9,346	4,081	9,486	6,693	6,323
Depreciation & Amortization	1,974	980.04	1,922	1,804	1,758
Change in Accounts Receivable	18.96	-16.05	-8.75	16.03	13.89
Change in Accounts Payable	20.29	286.35	201.5	-82.53	526.27
Change in Other Net Operating Assets	6,984	626.03	3,919	1,362	-157.91
Other Operating Activities	-2.99	7.79	1,537	-1.15	54.9
Operating Cash Flow	18,341	5,966	17,057	9,795	8,517
Operating Cash Flow Growth	207.44%	-65.03%	74.14%	15.00%	-20.69%
Acquisition of Real Estate Assets	-2,591	-16,414	-11,477	-5,249	-5,175
Net Sale / Acq. of Real Estate Assets	-2,591	-16,414	-11,477	-5,249	-5,175
Investment in Marketable & Equity Securities	-	39.85	11.1	-51.21	50.65
Other Investing Activities	-41.96	289.15	-71.48	112.85	52.7
Investing Cash Flow	-2,633	-16,086	-11,538	-5,188	-5,072
Long-Term Debt Issued	13,721	12,692	-	21,150	-
Total Debt Issued	13,721	12,692	11,419	21,150	13,711
Long-Term Debt Repaid	-12,840	-4,192	-	-19,292	-
Total Debt Repaid	-12,840	-4,192	-9,623	-19,292	-11,816
Net Debt Issued (Repaid)	881	8,500	1,796	1,858	1,895
Issuance of Common Stock	-	3,500	-	-	-
Repurchase of Common Stock	-1,580	-	-	-	-1,500
Common Dividends Paid	-9,362	-3,327	-9,496	-7,102	-6,641
Other Financing Activities	-	-	-	-	-0
Miscellaneous Cash Flow Adjustments	-0	-	-0	-0	-1
Net Cash Flow	5,647	-1,447	-2,181	-636.4	-2,801
Cash Interest Paid	1,261	591.1	964.28	893.66	955.1
Cash Income Tax Paid	1.21	0.61	0.61	1.21	0.61
Levered Free Cash Flow	8,327	-	-	7,000	-
Unlevered Free Cash Flow	9,119	-	-	7,564	-
Change in Working Capital	7,024	896.32	4,112	1,295	382.25

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