Japan Excellent, Inc. (TYO:8987)

Japan Excellent Cash Flow Statement

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

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Net Income	8,803	7,944	7,933	7,606	7,822
Depreciation & Amortization	3,565	3,743	3,743	3,871	3,754
Other Amortization	14.59	-	25.54	25.71	12.86
Change in Accounts Receivable	-16.36	-75	67.59	-113.17	16.44
Change in Accounts Payable	208.83	1,266	-428.86	124.27	225.61
Change in Other Net Operating Assets	1,899	-	22,903	5,093	-576.72
Other Operating Activities	5,189	15,232	-155.09	-10.23	3.19
Operating Cash Flow	19,663	28,110	34,088	16,596	11,257
Operating Cash Flow Growth	-30.05%	-17.54%	105.40%	47.43%	-59.40%
Acquisition of Real Estate Assets	-21,785	-16,288	-22,721	-9,540	-16,895
Net Sale / Acq. of Real Estate Assets	-21,785	-16,288	-22,721	-9,540	-16,895
Investment in Marketable & Equity Securities	5,115	-	40.62	-5,241	-
Other Investing Activities	557.71	377	-150.08	123.23	204.48
Investing Cash Flow	-16,112	-15,911	-22,858	-14,719	-16,691
Short-Term Debt Issued	-	-	5,000	3,000	-
Long-Term Debt Issued	-	-	17,739	13,750	-
Total Debt Issued	15,000	22,144	22,739	16,750	4,000
Short-Term Debt Repaid	-	-	-3,000	-	-
Long-Term Debt Repaid	-	-	-19,770	-13,750	-
Total Debt Repaid	-17,000	-21,229	-22,770	-13,750	-4,000
Net Debt Issued (Repaid)	-2,000	915	-31.2	3,000	-
Repurchase of Common Stock	-4,000	-	-	-2,000	-
Common Dividends Paid	-7,668	-7,526	-7,490	-7,591	-8,033
Other Financing Activities	-0	-2,000	-	-	-
Miscellaneous Cash Flow Adjustments	-	-1	0	-	-1
Net Cash Flow	-10,117	3,587	3,709	-4,714	-13,468
Cash Interest Paid	1,301	978	872.23	912.97	945.81
Cash Income Tax Paid	0.7	-	1.35	1.35	1.58
Levered Free Cash Flow	-	-6,564	10,254	11,431	-
Unlevered Free Cash Flow	-	-5,719	10,980	12,175	-
Change in Working Capital	2,092	1,191	22,542	5,104	-334.67

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