Daiwa Office Investment Corporation (TYO:8976)

Daiwa Office Investment Cash Flow Statement

Financials in millions JPY. Fiscal year is June - May.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	May 31, 2025	May 31, 2024	May 31, 2023	May 31, 2022	May 31, 2021
Net Income	14,114	12,367	13,595	14,292	14,676
Depreciation & Amortization	3,823	3,615	3,589	3,604	3,651
Other Amortization	-	10.06	10.03	5.03	8.82
Change in Accounts Receivable	13	-18.69	-8.07	108.71	69.82
Change in Accounts Payable	344	-50.18	547.08	-255.09	139.48
Change in Other Net Operating Assets	-	-293.61	5,637	-49.47	5,269
Other Operating Activities	4,543	242.08	-85.34	7,083	-0.73
Operating Cash Flow	22,837	15,885	23,232	24,773	23,838
Operating Cash Flow Growth	43.76%	-31.62%	-6.22%	3.92%	18.82%
Acquisition of Real Estate Assets	-3,680	-10,995	-4,380	-14,772	-5,404
Net Sale / Acq. of Real Estate Assets	-3,680	-10,995	-4,380	-14,772	-5,404
Other Investing Activities	736	-347.91	-518.86	-224.13	-176.88
Investing Cash Flow	-2,944	-11,352	-4,899	-14,996	-5,581
Short-Term Debt Issued	-	1,500	2,000	-	4,900
Long-Term Debt Issued	-	34,200	30,600	-	34,769
Total Debt Issued	5,050	35,700	32,600	9,950	39,669
Short-Term Debt Repaid	-	-3,500	-	-	-7,500
Long-Term Debt Repaid	-	-25,600	-30,600	-	-33,300
Total Debt Repaid	-29	-29,100	-30,600	-7,500	-40,800
Net Debt Issued (Repaid)	5,021	6,600	2,000	2,450	-1,131
Repurchase of Common Stock	-	-	-2,999	-	-2,783
Common Dividends Paid	-	-13,105	-13,308	-6,833	-13,481
Common & Preferred Dividends Paid	-13,098	-	-	-6,832	-
Total Dividends Paid	-13,098	-13,105	-13,308	-13,665	-13,481
Other Financing Activities	-4,001	-	-	-4,000	-
Miscellaneous Cash Flow Adjustments	-3	0.2	0	-0	-0
Net Cash Flow	7,812	-1,972	4,025	-5,438	861.93
Cash Interest Paid	1,465	921.59	849.64	423	917.26
Cash Income Tax Paid	1	-	-	-	1.72
Levered Free Cash Flow	5,423	11,676	16,148	-	16,651
Unlevered Free Cash Flow	6,540	12,242	16,669	-	17,215
Change in Working Capital	357	-348.33	6,123	-210.52	5,504

Updated May 31, 2025. Source: S&P Global Market Intelligence. Real Estate template. Financial Sources.