CENTRAL REIT Investment Cash Flow Statement

Financials in millions JPY. Fiscal year is September - August.

Millions JPY. Fiscal year is Sep - Aug.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	2020 - 2018
Period Ending	Aug '25 Aug 31, 2025	Aug '24 Aug 31, 2024	Aug '23 Aug 31, 2023	Aug '22 Aug 31, 2022	Aug '21 Aug 31, 2021	2020 - 2018
Net Income	1,737	1,655	1,606	1,875	1,299	Upgrade
Depreciation & Amortization	383	355	339	305	271	Upgrade
Change in Accounts Receivable	-24	-4	-2	-9	-7	Upgrade
Change in Accounts Payable	18	2	-15	99	-47	Upgrade
Other Operating Activities	492	-59	99	2,531	-68	Upgrade
Operating Cash Flow	2,606	1,949	2,027	4,801	1,448	Upgrade
Operating Cash Flow Growth	33.71%	-3.85%	-57.78%	231.56%	-11.98%	Upgrade
Acquisition of Real Estate Assets	-1,368	-217	-256	-11,251	-2,616	Upgrade
Net Sale / Acq. of Real Estate Assets	-1,368	-217	-256	-11,251	-2,616	Upgrade
Other Investing Activities	285	2	3	431	53	Upgrade
Investing Cash Flow	-1,083	-215	-253	-10,820	-2,563	Upgrade
Total Debt Issued	186	1,000	-	5,895	2,370	Upgrade
Total Debt Repaid	-	-1,000	-230	-	-	Upgrade
Net Debt Issued (Repaid)	186	-	-230	5,895	2,370	Upgrade
Issuance of Common Stock	-	-	-	2,827	-	Upgrade
Common Dividends Paid	-1,760	-1,613	-1,817	-1,516	-1,373	Upgrade
Other Financing Activities	-	-14	-	-2	-2	Upgrade
Miscellaneous Cash Flow Adjustments	-	-1	-	-	1	Upgrade
Net Cash Flow	-51	106	-273	1,185	-119	Upgrade
Cash Interest Paid	177	145	134	105	78	Upgrade
Cash Income Tax Paid	2	-	-	-	-	Upgrade
Levered Free Cash Flow	-321.5	1,290	1,205	-10,390	-1,570	Upgrade
Unlevered Free Cash Flow	-178.38	1,408	1,314	-10,273	-1,498	Upgrade
Change in Working Capital	-6	-2	-17	90	-54	Upgrade

Source: S&P Capital IQ. Real Estate template. Financial Sources.