Financial Highlights
（As of September 30, 2023）
Property Data DownloadXLS（710KB）
(JPY million)
| Sep. 2021 | Mar. 2022 | Sep. 2022 | Mar. 2023 | Sep. 2023 | |
|---|---|---|---|---|---|
| Operating Revenues | 36,901 | 36,453 | 37,654 | 37,345 | 38,627 |
| Dividend per Unit | JPY 11,356 | JPY 11,400 | JPY 11,500 | JPY 11,667 | JPY 12,000 |
| Profit | 16,865 | 16,045 | 16,790 | 16,161 | 17,075 |
| Property-related Revenues | 34,354 | 35,135 | 34,289 | 33,957 | 34,497 |
| Property-related Expenses | 16,415 | 17,391 | 17,480 | 18,252 | 18,447 |
| Property-related Profits and Losses | 17,939 | 17,744 | 16,808 | 15,704 | 16,049 |
| Ordinary Income | 17,477 | 16,191 | 17,256 | 16,172 | 17,086 |
| NOI (Note 2) | 24,204 | 24,070 | 23,084 | 21,901 | 22,313 |
| FFO (Note 3) | 20,583 | 21,053 | 19,700 | 18,970 | 19,207 |
| Units Outstanding | 1,385,210 units | 1,385,210 units | 1,385,210 units | 1,385,210 units | 1,422,864 units |
| Profit / Operating Revenues | 45.7% | 44.0% | 44.6% | 43.3% | 44.2% |
| Operating Income / Operating Revenues | 49.8% | 46.9% | 47.9% | 45.6% | 46.7% |
| Property-related Profits and Losses / Property-related Revenues | 52.2% | 50.5% | 49.0% | 46.2% | 46.5% |
| Total Assets (Note 4) | 1,003,583 | 1,035,072 | 1,008,970 | 1,047,158 | 1,057,291 |
| Net Assets | 516,447 | 516,762 | 517,761 | 517,993 | 538,402 |
| Net Assets per Unit | JPY 372,829 | JPY 373,057 | JPY 373,778 | JPY 373,945 | JPY 378,393 |
| Interest-bearing Debt | 419,493 | 449,893 | 423,393 | 460,493 | 450,193 |
| LTV (Note 5) | 41.8% | 43.5% | 42.0% | 44.0% | 42.6% |
| Unit Price at Period-end | JPY 668,000 | JPY 639,000 | JPY 597,000 | JPY 528,000 | JPY 583,000 |
| ROA (Note 6) (Annualized) |
1.7 (3.5) |
1.6 (3.2) |
1.7 (3.4) |
1.6 (3.2) |
1.6 (3.2) |
| ROE (Note 7) (Annualized) |
3.3 (6.5) |
3.1 (6.2) |
3.2 (6.5) |
3.1 (6.3) |
3.2 (6.4) |
| (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. |
