Hankyu Hanshin REIT, Inc. (TYO:8977)

Hankyu Hanshin REIT Cash Flow Statement

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

Fiscal Year	FY 2024	FY 2024	FY 2023	FY 2023	FY 2022
Period Ending	Nov 30, 2024	May 31, 2024	Nov 30, 2023	May 31, 2023	Nov 30, 2022
Net Income	4,283	4,174	4,240	4,218	4,190
Depreciation & Amortization	1,975	1,964	1,958	1,953	1,942
Other Amortization	3.67	-	2.22	2.22	4.45
Gain (Loss) on Sale of Assets	18.25	12	2.18	2.42	35.81
Change in Accounts Receivable	-4.85	-16	-47.46	-41.45	0.09
Change in Accounts Payable	-	-342	322	-210	-
Change in Other Net Operating Assets	93.5	-	-260.65	-1.88	7,266
Other Operating Activities	14.8	-66	60.98	-54.35	-5.94
Operating Cash Flow	6,384	5,726	6,278	5,868	13,433
Operating Cash Flow Growth	11.49%	-8.79%	6.99%	-56.32%	-8.20%
Acquisition of Real Estate Assets	-8,654	-15,432	-5,902	-6,626	-10,460
Net Sale / Acq. of Real Estate Assets	-8,654	-15,432	-5,902	-6,626	-10,460
Other Investing Activities	133.1	64	139.25	83.34	-177.4
Investing Cash Flow	-8,521	-15,368	-5,762	-6,543	-10,638
Long-Term Debt Issued	12,891	-	-	-	9,000
Total Debt Issued	12,891	12,982	11,900	11,900	9,000
Long-Term Debt Repaid	-6,428	-	-	-	-9,028
Total Debt Repaid	-6,428	-	-7,014	-7,014	-9,028
Net Debt Issued (Repaid)	6,463	12,982	4,886	4,886	-27.83
Common Dividends Paid	-4,229	-	-2,098	-2,058	-4,080
Common & Preferred Dividends Paid	-	-4,248	-2,114	-2,097	-
Total Dividends Paid	-4,229	-4,248	-4,212	-4,155	-4,080
Other Financing Activities	-0	-30	-14	-15	-
Miscellaneous Cash Flow Adjustments	-	2	-1	-0	-
Net Cash Flow	97.55	-936	1,175	40.92	-1,312
Cash Interest Paid	636.68	608	562.81	555.47	553.33
Cash Income Tax Paid	2.95	2	2.39	2.54	3.08
Levered Free Cash Flow	4,214	-10,278	-	-	3,694
Unlevered Free Cash Flow	4,614	-9,829	-	-	4,037
Change in Net Working Capital	500.49	-578	-489.67	1,214	884.34

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