CENTRAL REIT Investment Cash Flow Statement

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

Millions JPY. Fiscal year is Sep - Aug.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	2020 - 2018
Period Ending	Feb '26 Feb 28, 2026	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	1,614	1,737	1,655	1,606	1,875	1,299	Upgrade
Depreciation & Amortization	385.5	383	355	339	305	271	Upgrade
Change in Accounts Receivable	-9.93	-24	-4	-2	-9	-7	Upgrade
Change in Accounts Payable	43.95	18	2	-15	99	-47	Upgrade
Other Operating Activities	-56.14	492	-59	99	2,531	-68	Upgrade
Operating Cash Flow	1,927	2,606	1,949	2,027	4,801	1,448	Upgrade
Operating Cash Flow Growth	-26.68%	33.71%	-3.85%	-57.78%	231.56%	-11.98%	Upgrade
Acquisition of Real Estate Assets	-185.82	-1,368	-217	-256	-11,251	-2,616	Upgrade
Net Sale / Acq. of Real Estate Assets	-185.82	-1,368	-217	-256	-11,251	-2,616	Upgrade
Other Investing Activities	248.1	285	2	3	431	53	Upgrade
Investing Cash Flow	73.08	-1,083	-215	-253	-10,820	-2,563	Upgrade
Total Debt Issued	4,856	186	1,000	-	5,895	2,370	Upgrade
Total Debt Repaid	-4,856	-	-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	-1,735	-1,760	-1,613	-1,817	-1,516	-1,373	Upgrade
Other Financing Activities	-	-	-14	-	-2	-2	Upgrade
Miscellaneous Cash Flow Adjustments	-0	-	-1	-	-	1	Upgrade
Net Cash Flow	264.55	-51	106	-273	1,185	-119	Upgrade
Cash Interest Paid	199.62	177	145	134	105	78	Upgrade
Cash Income Tax Paid	1.98	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	-18.52	-6	-2	-17	90	-54	Upgrade

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