Hankyu Hanshin REIT, Inc. (TYO:8977)

Hankyu Hanshin REIT Cash Flow Statement

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

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	May 31, 2025	Nov 30, 2024	Nov 30, 2023	Nov 30, 2022	Nov 30, 2021	Nov 30, 2020
Net Income	4,633	4,283	4,240	4,190	4,117	4,484
Depreciation & Amortization	2,012	1,975	1,958	1,942	2,087	2,042
Other Amortization	1.91	3.67	2.22	4.45	4.45	2.8
Gain (Loss) on Sale of Assets	11.74	18.25	2.18	35.81	3.76	5.44
Change in Accounts Receivable	-19.44	-4.85	-47.46	0.09	-10.84	6.54
Change in Accounts Payable	-138	-	322	-	-	-
Change in Other Net Operating Assets	305.91	93.5	-260.65	7,266	926.36	5,809
Other Operating Activities	12,821	14.8	60.98	-5.94	-12.35	-1.21
Operating Cash Flow	19,628	6,384	6,278	13,433	7,116	12,349
Operating Cash Flow Growth	209.17%	1.69%	-53.27%	88.79%	-42.38%	-11.98%
Acquisition of Real Estate Assets	-16,001	-8,654	-5,902	-10,460	-1,554	-9,507
Net Sale / Acq. of Real Estate Assets	-16,001	-8,654	-5,902	-10,460	-1,554	-9,507
Other Investing Activities	318.61	133.1	139.25	-177.4	-360.55	20.19
Investing Cash Flow	-15,682	-8,521	-5,762	-10,638	-1,914	-9,529
Short-Term Debt Issued	-	-	-	-	-	6,500
Long-Term Debt Issued	-	12,891	-	9,000	8,500	11,486
Total Debt Issued	1,200	12,891	11,900	9,000	8,500	17,986
Short-Term Debt Repaid	-	-	-	-	-4,500	-11,500
Long-Term Debt Repaid	-	-6,428	-	-9,028	-4,028	-5,011
Total Debt Repaid	-1,214	-6,428	-7,014	-9,028	-8,528	-16,511
Net Debt Issued (Repaid)	-13.92	6,463	4,886	-27.83	-27.83	1,475
Common Dividends Paid	-4,295	-4,229	-4,212	-4,080	-4,182	-4,319
Other Financing Activities	-13	-0	-14	-	-0	-
Miscellaneous Cash Flow Adjustments	-0	-	-1	-	-0	0
Net Cash Flow	-376.63	97.55	1,175	-1,312	991.91	-24.45
Cash Interest Paid	683.24	636.68	562.81	553.33	561.92	609.38
Cash Income Tax Paid	3.6	2.95	2.39	3.08	2.91	2.81
Levered Free Cash Flow	-	4,214	-	3,694	5,418	-
Unlevered Free Cash Flow	-	4,614	-	4,037	5,763	-
Change in Working Capital	148.5	88.67	13.89	7,267	915.59	5,816

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