TYO:8985 Cash Flow Statement

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

Millions JPY. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Jun '25 Jun 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020
Net Income	23,603	18,272	13,134	2,672	1,297	1,527
Depreciation & Amortization	6,147	5,618	5,083	4,788	4,804	4,762
Other Amortization	106.28	77.01	39.39	35.66	92.64	118.3
Gain (Loss) on Sale of Assets	-93.77	236.9	151.7	57.81	16.68	-179.02
Asset Writedown	-	212.78	7.92	-	-	-
Change in Accounts Receivable	-1,164	-1,195	-408.1	-2,692	-1,078	2,107
Change in Accounts Payable	1.83	-236.91	234.58	-9.85	-1,694	1,694
Change in Other Net Operating Assets	1,302	-4.16	-452.59	495.19	8,260	3,844
Other Operating Activities	583.46	-222.48	-5.45	-14.9	-16.41	-126.09
Operating Cash Flow	30,486	22,758	17,785	5,331	11,682	13,747
Operating Cash Flow Growth	57.08%	27.97%	233.60%	-54.37%	-15.02%	-31.27%
Acquisition of Real Estate Assets	-130,399	-65,187	-38,572	-3,870	-3,495	-2,335
Net Sale / Acq. of Real Estate Assets	-130,399	-65,187	-38,572	-3,870	-3,495	-2,335
Other Investing Activities	353.7	525.2	87.37	278.34	-999.79	-137.66
Investing Cash Flow	-129,375	-64,737	-38,552	-3,640	-4,695	-3,077
Short-Term Debt Issued	-	1,800	15,568	35,536	25,082	18,574
Long-Term Debt Issued	-	69,089	45,977	2,800	-	-
Total Debt Issued	111,450	70,889	61,545	38,336	25,082	18,574
Short-Term Debt Repaid	-	-16,368	-35,113	-24,425	-13,862	-5,792
Long-Term Debt Repaid	-	-24,521	-15,432	-14,434	-15,220	-12,782
Total Debt Repaid	-17,100	-40,889	-50,545	-38,859	-29,082	-18,574
Net Debt Issued (Repaid)	94,350	30,000	11,000	-523	-4,000	-
Issuance of Common Stock	33,465	33,465	11,813	-	289.33	-
Common Dividends Paid	-20,062	-13,973	-3,046	-1,635	-1,833	-16,461
Other Financing Activities	-0	-0	-	-15.03	0	-
Miscellaneous Cash Flow Adjustments	0	-	0	0	-0	0
Net Cash Flow	8,866	7,514	-999.98	-481.77	1,444	-5,791
Cash Interest Paid	2,353	1,592	1,148	1,158	1,225	1,280
Cash Income Tax Paid	1.21	1.62	1.21	1.21	1.21	1.2
Levered Free Cash Flow	19,353	14,036	11,733	3,939	5,456	10,284
Unlevered Free Cash Flow	20,808	15,014	12,441	4,642	6,198	11,074
Change in Working Capital	140.13	-1,436	-626.11	-2,207	5,489	7,645

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