Japan Real Estate Investment Corporation

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Financial Highlights

(As of March 31, 2019)

Property Data DownloadXLS(584KB)

Operating Revenues

(JPY million)

Historical data

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Operating Revenues(Historical data)

Operating Income

(JPY million)

Historical data

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Operating Income(Historical data)

Profit

(JPY million)

Historical data

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Profit(Historical data)

Dividend per Unit

(JPY)

Historical data

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Dividend per Unit(Historical data)

(JPY million)

  Mar. 2017 Sep. 2017 Mar. 2018 Sep. 2018 Mar. 2019
Operating Revenues 30,818 31,718 31,955 33,066 33,022
Dividend per Unit JPY 8,544 JPY 9,096 JPY 9,336 JPY 9,495 JPY 9,697
Profit 11,186 11,909 12,291 13,273 13,431
Property-related Revenues 30,784 31,718 31,816 32,795 33,022
Property-related Expenses 16,939 16,999 16,749 16,843 16,819
Property-related Profits and Losses 13,845 14,719 15,066 15,952 16,202
Ordinary Income 11,197 11,921 12,362 13,348 13,441
NOI (Note 2) 20,372 21,275 21,566 22,401 22,603
FFO (Note 3) 17,679 18,466 18,652 19,451 19,831
Units Outstanding 1,309,310 units 1,309,310 units 1,309,310 units 1,385,210 units 1,385,210 units
Profit / Operating Revenues 36.3% 37.5% 38.5% 40.1% 40.7%
Operating Income / Operating Revenues 40.8% 41.5% 42.5% 44.1% 44.1%
Property-related Profits and Losses / Property-related Revenues 45.0% 46.4% 47.4% 48.6% 49.1%
Total Assets (Note 4) 898,306 906,507 935,561 956,645 963,676
Net Assets 469,598 470,321 470,703 510,978 511,256
Net Assets per Unit JPY 358,661 JPY 359,213 JPY 359,505 JPY 368,881 JPY 369,082
Interest-bearing Debt 369,000 375,500 403,993 384,493 389,993
LTV (Note 5) 41.1% 41.4% 43.2% 40.2% 40.5%
Unit Price at Period-end JPY 590,000 JPY 541,000 JPY 551,000 JPY 596,000 JPY 653,000
ROA (Note 6)
(Annualized)
1.3
(2.5)
1.3
(2.6)
1.3
(2.7)
1.4
(2.8)
1.4
(2.8)
ROE (Note 7)
(Annualized)
2.4
(4.8)
2.5
(5.1)
2.6
(5.2)
2.6
(5.2)
2.6
(5.3)
(Note 1) JRE implemented a 2-for-1 split of each investment unit as of 1 January 2014. The figures for the Mar. 2002 through Sep. 2013 periods are taken the split into account.
(Note 2) NOI = Property-related Revenues - Property-related Expenses + Depreciation
(Note 3) FFO = Profit + Depreciation - Gain (Loss) on Transfer of Properties - Dividends Earned on the preferred capital contribution - Gain on transfer of development rights of floor area - Compensation for the property transfer
(Note 4) “Partial Amendments to Accounting Standard for Tax Effect Accounting” (ASBJ Statement No. 28 on 16 February 2018) has been applied from the beginning of the Sep. 2018 period. Total assets as of 31 March 2018 were JPY 935,560 million if this change applies retroactively.
(Note 5) LTV = Interest-bearing Debt / Total Assets
(Note 6) ROA= Ordinary Income / Average of Total Assets during the period
Average of total assets during the period is calculated as the average value of total assets at the beginning and end of the period.
(Note 7) ROE= Profit / Average of Net Assets during the period
Average of net assets during the period is calculated as the average value of net assets at the beginning and end of the period.
However, if the new units are issued during the period, the average is calculated taking into account the number of operating days during the period.
  • Asset Managerジャパンリアルエステイト JRea

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