Distribution Policy

JRE aims at stable asset management with the objective of maintaining and improving dividend per unit over the medium-to long term.

Cash Distribution Policy

JRE will pay out cash distribution based on the following dividend policy.

1. In connection with the total cash amount to be distributed to the Unitholders, accounting profits will be calculated in accordance with generally accepted corporate accounting principles and practices in Japan.
2. In making cash distributions to the extent of accounting profits, JRE will distribute profits as cash distributions in excess of 90% of the “amount of distributable profit” as set forth in Article 67-15 of the Act on Special Measures Concerning Taxation.
3. At the appropriate discretion of the Board of Directors, or in the case where it is possible to suppress the accrual of corporate income taxation for JRE, etc. JRE may, in accordance with the Act on Investment Trusts and Investment Corporations of Japan (the “ITA”), make cash distributions to the Unitholders in excess of accounting profits based on the Cash Distribution Statement approved pursuant to the ITA.
4. JRE is allowed to make distributions in excess of accounting profits to the extent of the amount equivalent to the aggregate of the amount of accounting profits and the amount prescribed by the rules of the Investment Trusts Association, Japan.
5. Distributions to the Unitholders shall be made in cash in proportion to the number of Units to the Unitholders as appearing on the register of Unitholders in paper in digital format or the registered Unit pledgees as of the close of the last day of the relevant fiscal period.
6. In the event that the dividends provided above are unclaimed for a period of three full years after the date on which such dividends first become payable, JRE shall be discharged from its payment obligation thereof. Any outstanding and unpaid dividends shall bear no interest.
7. In cases other than the above, cash distribution shall be made following the rules of the Investment Trusts Association, Japan.