Nippon Building Fund Inc.
Supplementary Explanation Material Regarding the News Release Published on January 7, 2026
Scheduled acquisition of Nihonbashi Honcho M-SQUARE (32.1 billion yen) and Toyosu Bayside Cross Tower (14.8 billion yen) by the end of March 2026. Revised dividend forecasts for the fiscal periods ending June and December 2026, with EPU expected to grow by +75 yen (+3.4%) over three periods.
Key Figures
- Scheduled Acquisition Price of Nihonbashi Honcho M-SQUARE: 32.1 billion yen (Scheduled acquisition date: 2026-03-31)
- Scheduled Acquisition Price of Toyosu Bayside Cross Tower: 14.8 billion yen (Scheduled acquisition date: 2026-03-31)
- LTV (Book Value Basis): 43.4%, Borrowing Capacity: Approximately 70 billion yen
AI要約
Offering Highlights
NIPPON BUILDING FUND INC. aims to accelerate both internal and external growth, targeting further increases in EPU (Earnings Per Unit) and DPU (Distributions Per Unit). Backed by a strong real estate rental market, internal growth will be accelerated through rental revisions and tenant replacements at existing properties, alongside acquisitions of newly constructed and central city properties from its sponsor. By managing LTV appropriately, it secures options for continuous fundraising and leverages gains on sales and retained earnings through strategic property swaps.
Acquired Properties and Financial Position
The total scheduled acquisition amount for properties including Nihonbashi Honcho M-SQUARE (32.1 billion yen, 100% occupancy, 0.2 years old) and Toyosu Bayside Cross Tower (14.8 billion yen, 100% occupancy, 5.8 years old) as of March 31, 2026 is 60.7 billion yen; properties scheduled for sale amount to 11.9 billion yen. LTV is 43.4% on a book value basis, with borrowing capacity secured at approximately 70 billion yen. The ratio of long-term fixed interest rates is 84.4%, maintaining a stable financial foundation. EPU is expected to increase by +75 yen (+3.4%) over three periods, with dividend forecasts also revised.
