Nippon Building Fund Inc.
Nippon Building Fund Investment Corporation 2026 June Period Financial Summary (REIT)
Operating revenue for the 2026 June period was 53,858 million yen (YoY +10.9%), operating income was 26,694 million yen (YoY +25.8%), ordinary income was 24,354 million yen, and net income for the period was also 24,354 million yen, all increasing. The distribution per unit is 2,489 yen, with total distributions of 21,940 million yen. This period will advance property acquisitions and disposals and portfolio quality improvements, with ending interest-bearing debt of 629,000 million yen, LTV of 42.6%, and a long-term fixed-rate ratio of 76.9%. For the 2026 December term and the 2027 June term, operation and distribution forecasts were also disclosed.
Key Figures
- Operating revenue 53,858百万円（YoY +10.9%）
- Net income 24,354百万円（YoY +26.2%）
- Distribution per unit 2,489円
- LTV 42.6%、 long-term fixed-rate ratio 76.9%
- Funding amount approximately 22.7 billion yen (Equity Finance conducted January 2026)
AI要約
Business performance overview
For the reporting period, operating revenue was 53,858 million yen, operating income 26,694 million yen, ordinary income 24,354 million yen, and net income for the period also 24,354 million yen, representing a substantial improvement versus the previous period. The distributions per unit were 2,489 yen and total distributions 21,940 million yen, maintaining stable distributions in line with the profit increase. The portfolio continued to achieve high occupancy, with asset replacements aimed at quality enhancement. Financial factors show a conservative approach with an LTV of 42.6% and a long-term fixed-rate ratio of 76.9%. The company also disclosed forecasts for the 2026 December term and the 2027 June term regarding operations and distributions.
Outlook and strategy
For the 2026 December term and the 2027 June term, the company expects continued acquisition and replacement of quality properties, guided by office-market trends, to steadily expand rental income. In 2025, approximately 22.7 billion yen was raised through equity finance, and as of term-end the LTV is 42.6% and the fixed-rate ratio is 76.9%, strengthening the financing base. The distribution policy intends to allocate about 110% of distributions per period by combining internal reserves with tax-advantaged strategies.
Nippon Building Fund Investment Corporation
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