Cash flow Invincible Investment Corporation

Equities

8963

JP3046190009

Diversified REITs

Market Closed - Japan Exchange Other stock markets 02:30:00 2025-06-20 am EDT			5-day change	1st Jan Change
64,700.00 ^JPY	0.00%		+0.15%	-2.27%

Jun. 18	Invincible Investment Signs $25 Million FX Forward To Hedge Cayman Hotel Revenue	MT
Apr. 28	Invincible Investment Corporation Announces Appointment of Hideki Yano as Managing Director, Effective April 28, 2025	CI

cbf808ac2b11d798880fe96dba.ORQB4Et0lvOkxv3qBeIylpH8zzlHKOd9_rVz2Y4W5tQ.WiB0mAo2_Z3h9piMbocE8tKMv2sxBa4wj881uOtkl4MAd1KhEkX_rJGPyQ

Published financial data: INVINCIBLE INVESTMENT CORPORATION

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: June	2020	2021	2022	2023	2024
Rental Revenues	11.58B	9.64B	15.38B	28.7B	38.14B
Property Management Fee	890M	0	2.76B	6.04B	4.77B
Interest and Investment Income, Total (Revenue Block)	-	-	-	-	1.43B
Gain (Loss) on Sale of Assets, Total (Rev)	4.65B	2.57B	1.47B	0	-
Other Revenues, Total	3K	1K	2K	1K	2.35B
Total Revenues	17.12B	12.21B	19.61B	34.73B	46.69B
Property Expenses	14.02B	11.74B	10.87B	11.62B	13.1B
Selling General & Admin Expenses, Total	125M	113M	102M	97.7M	144M
Provision for Bad Debts	0	-	-	-	-
Other Operating Expenses	422M	406M	269M	69.63M	1.06B
Total Operating Expenses	14.56B	12.26B	11.24B	11.79B	14.3B
Operating Income (REIT / Utility Template)	2.55B	-49.07M	8.37B	22.95B	32.39B
Interest Expense, Total	-1.42B	-1.3B	-1.17B	-1.23B	-3.29B
Interest and Investment Income	644M	1.28M	260K	238K	5.78M
Net Interest Expenses	-780M	-1.29B	-1.17B	-1.23B	-3.28B
Currency Exchange Gains (Loss)	-18.8M	-75.23M	-67.54M	102M	424M
Other Non Operating Income (Expenses)	-706M	-1.17B	-1.04B	-1.87B	-1.32B
EBT, Excl. Unusual Items	1.05B	-2.58B	6.09B	19.95B	28.21B
Asset Writedown	-73.12M	0	-	-	-
Other Unusual Items	73.12M	0	-	-	-170M
EBT, Incl. Unusual Items	1.05B	-2.58B	6.09B	19.95B	28.04B
Income Tax Expense	1.21M	1.21M	1.21M	1.21M	605K
Earnings From Continuing Operations	1.05B	-2.59B	6.09B	19.95B	28.04B
Net Income to Company	1.05B	-2.59B	6.09B	19.95B	28.04B
Net Income - (IS)	1.05B	-2.59B	6.09B	19.95B	28.04B
Net Income to Common Incl Extra Items	1.05B	-2.59B	6.09B	19.95B	28.04B
Net Income to Common Excl. Extra Items	1.05B	-2.59B	6.09B	19.95B	28.04B
Per Share Items
Net EPS - Basic	171.83	-424.07	998.96	3.11K	3.9K
Basic EPS - Continuing Operations	171.83	-424.07	998.96	3.11K	3.9K
Basic Weighted Average Shares Outstanding	6.1M	6.1M	6.1M	6.41M	7.19M
Net EPS - Diluted	171.83	-424.07	998.96	3.11K	3.9K
Diluted EPS - Continuing Operations	171.83	-424.07	998.96	3.11K	3.9K
Diluted Weighted Average Shares Outstanding	6.1M	6.1M	6.1M	6.41M	7.19M
Normalized Basic EPS	107.52	-264.92	624.47	1.94K	2.45K
Normalized Diluted EPS	107.52	-264.92	624.47	1.94K	2.45K
Dividend Per Share	236	181	998	3.1K	-
Payout Ratio	1.04K	-43.03	33.23	70.16	85.45
Supplemental Items
EBITDA	10.55B	7.69B	15.89B	30.91B	41.74B
EBITA	2.59B	-9.84M	8.41B	22.98B	32.43B
EBIT	2.55B	-49.07M	8.37B	22.95B	32.39B
Total Revenues (As Reported)	17.75B	12.21B	19.61B	34.73B	21.14B
Effective Tax Rate - (Ratio)	0.12	-0.05	0.02	0.01	0
Total Current Taxes	1.21M	1.21M	1.21M	1.21M	605K
Normalized Net Income	656M	-1.62B	3.81B	12.47B	17.63B
Interest on Long-Term Debt	66.37M	68.5M	68.5M	115M	-
Supplemental Operating Expense Items
General and Administrative Expenses	125M	113M	102M	97.7M	144M
Maintenance & Repair Expenses, Total	-	-	866M	884M	-

Fiscal Period: June	2020	2021	2022	2023	2024
Assets
Gross Property Plant And Equipment	472B	465B	463B	521B	-
Accumulated Depreciation	-31.2B	-37.51B	-44.28B	-52.16B	-
Net Property Plant And Equipment	441B	427B	419B	469B	621B
Total Real Estate Assets	441B	427B	419B	469B	621B
Cash And Equivalents	21.21B	12.76B	15.55B	21.96B	31.96B
Accounts Receivable, Total	1.72B	2.29B	4.85B	4.83B	7.51B
Other Receivables	16K	10K	13K	2.62B	-
Investment In Debt and Equity Securities	17.86B	-	-	-	-
Other Intangibles, Total	25.21B	25.14B	25.06B	28.03B	-
Restricted Cash	6.3B	6.77B	7.77B	12.94B	13.32B
Other Current Assets, Total	1.07B	796M	2.36B	3.13B	5.73B
Deferred Charges Long-Term	62.85M	50.35M	37.84M	88.78M	-
Other Long-Term Assets, Total	2.13B	19.66B	19.67B	21.1B	129M
Total Assets	516B	495B	494B	563B	680B
Liabilities
Current Portion of Long-Term Debt	55.6B	48.67B	45.4B	37.79B	40.6B
Short-Term Borrowings	34.85B	71.79B	115B	36.52B	3.42B
Long-Term Debt	172B	124B	80.88B	195B	279B
Accounts Payable, Total	846M	774M	629M	800M	1.47B
Accrued Expenses, Total	923M	833M	636M	281M	427M
Current Income Taxes Payable	605K	605K	605K	605K	-
Other Current Liabilities - (Brok / FS / Ins. / REIT Template)	616M	574M	334M	367M	799M
Other Non Current Liabilities	1.71B	1.56B	1.52B	2.54B	2.73B
Total Liabilities	267B	249B	244B	273B	329B
Common Stock, Total	236B	236B	236B	270B	326B
Additional Paid In Capital	6.26B	6.26B	6.26B	6.26B	734M
Retained Earnings	13.37B	9.68B	13.74B	19.69B	23.76B
Distributions In Excess Of Earnings	-	-	-	-	-
Comprehensive Income and Other	-5.7B	-5.51B	-5.39B	-5.75B	810M
Total Common Equity	250B	246B	250B	290B	351B
Total Equity	250B	246B	250B	290B	351B
Total Liabilities And Equity	516B	495B	494B	563B	680B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	6.1M	6.1M	6.1M	6.1M	7.19M
ECS Total Common Shares Outstanding	6.1M	6.1M	6.1M	6.1M	7.19M
Book Value / Share	40.95K	40.37K	41.06K	47.62K	48.87K
Tangible Book Value	224B	221B	225B	262B	351B
Tangible Book Value Per Share	36.81K	36.25K	36.95K	43.02K	48.87K
Total Debt	263B	245B	241B	269B	323B
Net Debt	242B	232B	225B	247B	291B
Equity Method Investments, Total	-	17.86B	17.86B	17.86B	-
Account Code - Inventory Valuation	3	3	3	3	-
Land - (BS)	246B	242B	241B	265B	-
Buildings, Total	222B	218B	217B	250B	-
Machinery, Total	3.91B	4.07B	4.42B	5.13B	-
Accumulated Allowance for Doubtful Accounts (Supple)	-	-	-	-	-

Fiscal Period: June	2020	2021	2022	2023	2024
Net Income	1.05B	-2.58B	6.09B	19.95B	28.04B
Depreciation, Depletion & Amortization	7.95B	7.7B	7.48B	7.93B	9.31B
Amortization of Goodwill and Intangible Assets - (CF)	39.24M	39.24M	39.24M	39.24M	41.1M
Total Depreciation, Depletion & Amortization	7.99B	7.74B	7.52B	7.96B	9.35B
Amortization of Deferred Charges, Total	12.23M	12.5M	12.5M	170M	15.61M
(Gain) Loss On Sale of Asset - (CF)	73M	-	-	-	24M
Total Asset Writedown	73.12M	0	-	-	24.99M
Change in Accounts Receivable	1.39B	-576M	-2.55B	11.08M	-2.67B
Change in Accounts Payable	533M	-74.09M	-515M	10.28M	-762M
Change In Income Taxes	138M	4K	-2K	-6K	-3K
Change in Other Net Operating Assets (Collected)	14.27B	7.12B	782M	-3.24B	3.26B
Other Operating Activities	716M	1.19B	1.06B	1.69B	547M
Cash from Operations	26.17B	12.82B	12.4B	26.56B	37.8B
Acquisition of Real Estate Assets, Total	-17.48B	-1.1B	-1.53B	-57.12B	-111B
Net Sale / Acquisition of Real Estate Assets	-17.48B	-1.1B	-1.53B	-57.12B	-111B
Purchase / Sale of Intangible Assets	-1.39B	0	-	-	-
Investment in Marketable and Equity Securities, Total	-1.33B	-1.47B	0	2.8B	800M
Other Investing Activities, Total	-493M	-185M	-34.14M	-3.2B	-662M
Cash from Investing	-20.69B	-2.75B	-1.57B	-57.52B	-111B
Short Term Debt Issued, Total	35.73B	72.93B	115B	39.56B	-
Long-Term Debt Issued, Total	21.37B	1.58B	1.79B	152B	52.02B
Total Debt Issued	57.09B	74.51B	116B	191B	102B
Short Term Debt Repaid, Total	-3.57B	-35.99B	-71.79B	-118B	-
Long-Term Debt Repaid, Total	-50.13B	-56.16B	-48.67B	-45.4B	-3.95B
Total Debt Repaid	-53.7B	-92.15B	-120B	-163B	-47.5B
Issuance of Common Stock	24.34B	-	-	34.25B	55.81B
Repurchase of Common Stock	-	-	-	-	-
Common Dividends Paid	-10.94B	-1.11B	-2.02B	-13.99B	-11.05B
Common & Preferred Stock Dividends Paid	-10.51B	-1.02B	-1.01B	-5.07B	-12.91B
Common & Preferred Stock Dividends Paid	-10.94B	-1.11B	-2.02B	-13.99B	-23.96B
Other Financing Activities, Total	-553M	-765M	-863M	-3.16B	-2.02B
Cash from Financing	-8.09B	-19.52B	-7.03B	45.33B	83.85B
Foreign Exchange Rate Adjustments	43K	-83K	-129K	67K	142K
Miscellaneous Cash Flow Adjustments	4K	-2K	-4K	-3K	-1K
Net Change in Cash	-2.61B	-9.45B	3.8B	14.37B	10.39B
Supplemental Items
Cash Interest Paid	1.41B	1.28B	1.16B	1.18B	2.49B
Cash Income Tax Paid (Refund)	1.21M	1.21M	1.21M	1.21M	605K
Net Debt Issued / Repaid	3.4B	-17.64B	-4.15B	28.24B	54.02B
Levered Free Cash Flow	17.43B	5.94B	6.34B	13.01B	-
Unlevered Free Cash Flow	18.31B	6.73B	7.06B	13.76B	-
Change In Net Working Capital	-10.11B	976M	5.7B	8.7B	1.79B

Fiscal Period: June	2020	2021	2022	2023	2024
Profitability
Return on Assets	0.31	-0.01	1.06	2.71	3.26
Return on Total Capital	0.31	-0.01	1.07	2.73	3.28
Return On Equity %	0.41	-1.04	2.45	7.38	8.74
Return on Common Equity	0.41	-1.04	2.45	7.38	8.74
Margin Analysis
Gross Profit Margin %	18.11	3.85	44.58	66.54	71.95
SG&A Margin	0.73	0.93	0.52	0.28	0.31
EBITDA Margin %	61.61	62.98	81.05	88.99	89.39
EBITA Margin %	15.15	-0.08	42.89	66.17	69.45
EBIT Margin %	14.92	-0.4	42.69	66.06	69.37
Income From Continuing Operations Margin %	6.12	-21.17	31.06	57.43	60.05
Net Income Margin %	6.12	-21.17	31.06	57.43	60.05
Net Avail. For Common Margin %	6.12	-21.17	31.06	57.43	60.05
Normalized Net Income Margin	3.83	-13.23	19.42	35.89	37.76
Levered Free Cash Flow Margin	101.86	48.61	32.31	37.47	-
Unlevered Free Cash Flow Margin	106.99	55.14	35.98	39.62	-
Asset Turnover
Asset Turnover	0.03	0.02	0.04	0.07	0.08
Fixed Assets Turnover	0.04	0.03	0.05	0.08	0.09
Receivables Turnover (Average Receivables)	4.31	4.81	5.08	7.18	6.95
Short Term Liquidity
Current Ratio	0.33	0.18	0.19	0.6	1.25
Quick Ratio	0.25	0.12	0.13	0.39	0.84
Operating Cash Flow to Current Liabilities	0.28	0.1	0.08	0.35	0.81
Days Sales Outstanding (Average Receivables)	84.84	75.91	71.82	50.86	52.63
Average Days Payable Outstanding	16.83	25.18	23.57	22.45	31.67
Long Term Solvency
Total Debt/Equity	105.25	99.52	96.2	92.7	91.98
Total Debt / Total Capital	51.28	49.88	49.03	48.1	47.91
LT Debt/Equity	69.02	50.58	32.31	67.1	79.45
Long-Term Debt / Total Capital	33.63	25.35	16.47	34.82	41.38
Total Liabilities / Total Assets	51.67	50.26	49.35	48.47	48.33
EBIT / Interest Expense	1.79	-0.04	7.14	18.72	9.85
EBITDA / Interest Expense	7.41	5.94	13.55	25.22	12.7
(EBITDA - Capex) / Interest Expense	7.41	5.94	13.55	25.22	-
Total Debt / EBITDA	24.92	31.85	15.15	8.71	7.74
Net Debt / EBITDA	22.9	30.19	14.17	8	6.98
Total Debt / (EBITDA - Capex)	24.92	31.85	15.15	8.71	-
Net Debt / (EBITDA - Capex)	22.9	30.19	14.17	8	-
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	-59.02	-28.65	60.57	77.13	34.42
Gross Profit, 1 Yr. Growth %	-90.08	-84.83	1.76K	164.37	45.35
EBITDA, 1 Yr. Growth %	-72.11	-27.07	106.65	94.48	35.03
EBITA, 1 Yr. Growth %	-91.62	-100.38	-85.6K	173.28	41.09
EBIT, 1 Yr. Growth %	-91.73	-101.92	-17.16K	174.1	41.15
Earnings From Cont. Operations, 1 Yr. Growth %	-96.81	-346.79	-335.56	227.5	40.57
Net Income, 1 Yr. Growth %	-96.81	-346.79	-335.56	227.5	40.57
Diluted EPS Before Extra, 1 Yr. Growth %	-96.93	-346.79	-335.56	211.28	25.4
Normalized Net Income, 1 Yr. Growth %	-96.81	-346.39	-335.72	227.45	41.42
Net Property, Plant and Equip., 1 Yr. Growth %	-0.29	-3.08	-1.97	11.88	32.57
Accounts Receivable, 1 Yr. Growth %	-57.71	33.52	111.23	-0.23	55.31
Total Assets, 1 Yr. Growth %	-1.14	-4.2	-0.12	13.99	20.7
Common Equity, 1 Yr. Growth %	-3.88	-1.41	1.7	15.97	21.04
Tangible Book Value, 1 Yr. Growth %	-4.83	-1.53	1.93	16.43	33.98
Cash From Operations, 1 Yr. Growth %	-61.95	-51	-3.31	114.18	42.33
Capital Expenditures, 1 Yr. Growth %	1.31K	-97.25	9.68	85.04	119.28
Levered Free Cash Flow, 1 Yr. Growth %	-1.6	-65.95	6.72	105.44	-
Unlevered Free Cash Flow, 1 Yr. Growth %	-1.17	-63.23	4.79	95.06	-
Dividend Per Share, 1 Yr. Growth %	-93.02	-23.31	451.38	211.02	-
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	-18.83	-45.93	7.04	68.65	54.3
Gross Profit, 2 Yr. CAGR %	-57.05	-87.73	67.95	601.1	96.02
EBITDA, 2 Yr. CAGR %	-31.05	-54.9	22.77	100.47	62.05
EBITA, 2 Yr. CAGR %	-60.35	-98.22	80.12	4.73K	96.36
EBIT, 2 Yr. CAGR %	-60.51	-96.01	81.08	2.06K	96.69
Earnings From Cont. Operations, 2 Yr. CAGR %	-74.5	-71.96	141.11	177.75	114.56
Net Income, 2 Yr. CAGR %	-74.5	-71.96	141.11	177.75	114.56
Diluted EPS Before Extra, 2 Yr. CAGR %	-76.48	-72.46	141.11	170.79	97.57
Normalized Net Income, 2 Yr. CAGR %	-74.48	-71.96	141	177.83	115.19
Net Property, Plant and Equip., 2 Yr. CAGR %	10.27	-1.69	-2.52	4.73	21.78
Accounts Receivable, 2 Yr. CAGR %	-26.43	-24.86	67.94	45.17	24.48
Total Assets, 2 Yr. CAGR %	6.5	-2.68	-2.18	6.7	17.3
Common Equity, 2 Yr. CAGR %	6.19	-2.65	0.14	8.6	18.48
Tangible Book Value, 2 Yr. CAGR %	5.58	-3.2	0.19	8.94	24.9
Cash From Operations, 2 Yr. CAGR %	-8.32	-56.82	-31.17	43.9	74.6
Capital Expenditures, 2 Yr. CAGR %	-6.13	-37.66	-82.62	42.47	101.44
Levered Free Cash Flow, 2 Yr. CAGR %	26.17	-42.12	-39.72	48.07	-
Unlevered Free Cash Flow, 2 Yr. CAGR %	25.62	-39.72	-37.93	42.96	-
Dividend Per Share, 2 Yr. CAGR %	-72.47	-76.86	105.64	314.12	-
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	-7.9	-22.24	-22.28	26.6	56.37
Gross Profit, 3 Yr. CAGR %	-39.36	-69.64	-34.6	95.37	314.95
EBITDA, 3 Yr. CAGR %	-16.98	-29.75	-25.09	43.11	75.73
EBITA, 3 Yr. CAGR %	-42.59	-91.58	-35.21	106.97	1.39K
EBIT, 3 Yr. CAGR %	-42.72	-85.58	-35.28	107.91	770.65
Earnings From Cont. Operations, 3 Yr. CAGR %	-55.64	-45.65	-43	167.02	121.35
Net Income, 3 Yr. CAGR %	-55.64	-45.65	-43	167.02	121.35
Diluted EPS Before Extra, 3 Yr. CAGR %	-61.37	-48.51	-43.68	162.54	109.5
Normalized Net Income, 3 Yr. CAGR %	-55.65	-45.66	-42.99	166.93	121.83
Net Property, Plant and Equip., 3 Yr. CAGR %	12.35	5.63	-1.79	2.06	13.29
Accounts Receivable, 3 Yr. CAGR %	-4.7	-10.26	6.05	41.18	48.48
Total Assets, 3 Yr. CAGR %	11.58	2.81	-1.83	2.94	11.18
Common Equity, 3 Yr. CAGR %	11.25	3.6	-1.22	5.16	12.6
Tangible Book Value, 3 Yr. CAGR %	10.91	3.15	-1.52	5.33	16.72
Cash From Operations, 3 Yr. CAGR %	8.47	-25.6	-43.51	0.49	43.38
Capital Expenditures, 3 Yr. CAGR %	-19.24	-71.05	-24.74	-61.76	64.49
Levered Free Cash Flow, 3 Yr. CAGR %	90.3	-18.47	-29.02	-9.29	-
Unlevered Free Cash Flow, 3 Yr. CAGR %	81.86	-16.59	-27.52	-9.08	-
Dividend Per Share, 3 Yr. CAGR %	-56.3	-61.26	-33.42	136.05	-
Compound Annual Growth Rate Over Five Years
Total Revenues, 5 Yr. CAGR %	7.65	-7.12	-2.19	5.98	2.25
Gross Profit, 5 Yr. CAGR %	-16.09	-47.04	-8.85	6.59	1.46
EBITDA, 5 Yr. CAGR %	2.23	-12.21	-2.92	6.86	2
EBITA, 5 Yr. CAGR %	-18.43	-75.44	-9.3	6.87	0.96
EBIT, 5 Yr. CAGR %	-18.68	-66.13	-9.23	6.99	0.96
Earnings From Cont. Operations, 5 Yr. CAGR %	-27.55	-23.39	-12.69	4.37	-3.13
Net Income, 5 Yr. CAGR %	-27.55	-23.39	-12.69	4.37	-3.13
Diluted EPS Before Extra, 5 Yr. CAGR %	-36.51	-31.22	-19.64	0.02	-6.96
Normalized Net Income, 5 Yr. CAGR %	-27.54	-23.39	-12.71	4.37	-3.02
Net Property, Plant and Equip., 5 Yr. CAGR %	21.96	11.22	6.15	5.27	7.04
Accounts Receivable, 5 Yr. CAGR %	9.99	10.42	19.54	8.78	13.07
Total Assets, 5 Yr. CAGR %	22.67	12.27	5.86	4.35	5.41
Common Equity, 5 Yr. CAGR %	22.16	13.36	6.66	5.57	6.23
Tangible Book Value, 5 Yr. CAGR %	21.17	12.5	6.49	5.43	8.3
Cash From Operations, 5 Yr. CAGR %	24.2	-3.26	-9.57	-3.13	-11.28
Capital Expenditures, 5 Yr. CAGR %	18.4	-67.37	-56.31	-45.23	11.58
Levered Free Cash Flow, 5 Yr. CAGR %	-19.68	-7.49	20.15	3.51	-
Unlevered Free Cash Flow, 5 Yr. CAGR %	-18.75	-6	18.3	3.47	-
Dividend Per Share, 5 Yr. CAGR %	-35.08	-41.59	-18.8	-0.06	-