Strength of JRE | Japan Real Estate Investment Corporation

Backup by three sponsor companies (shareholders of the asset management company) that go beyond the industrial and group affiliations

< Support from three sponsors >

Property pipeline support (providing properties and property information, etc.)
Operating support (providing expertise on attracting tenants and property management, etc.)
Human resource support (sending experienced professionals)

< Protecting function against conflict of interest >
Function to prevent conflicts of interest and avoid the making of important key decisions under the influence of a particular sponsor by implementing such processes as advance examination by a Compliance Committee that includes outside expert, in addition to the mutual restraint between the three companies

Large investment corporation specialized in office buildings

(As of November 15, 2011)

Number of Properties	57
Asset Size (Total Acquisition Price)	¥7,186 billion

Track record

The first listed J-REIT, showing steady performance for 20 consecutive periods

Sound financial strength

(As of September 30, 2011)

Conservative LTV (cruising speed of 30-40% level)
Interest-bearing Debts: ¥269,350million
LTV: 41.8%
Highest credit ratings in J-REIT (S&P: AA-, Moody's: A1, R&I: AA)

21th Period (March 31, 2012)
Dividend per Unit
Dividend (Forecast)
	¥15,700
20th Period (September 30, 2011)
Dividend (Actual)
	¥15,850

Occupancy Rate
as of December 31, 2011
	93.9%