Daiwa Office Investment Corporation
Supplementary Explanation Material Regarding Today’s Press Release
Revised upward dividend forecast for the fiscal year ending May 2026 by +4.3% to 7,560 yen due to the return of capital gains. The asset replacement substantially expanded NOI and strengthened the core earnings base.
Key Figures
- Dividend Forecast: 7,560 yen (Up +4.3% compared to forecast)
- Total Planned Asset Sales Price: 7,340 million yen
- Total Planned Asset Acquisition Price: 26,550 million yen
- NOI (Total Planned Asset Acquisition): 971 million yen (Up +871 million yen compared to planned asset sales)
- NOI Yield (Total Planned Asset Acquisition): 3.7% (Up +1.6% compared to planned asset sales)
AI要約
Overview and Effects of Asset Replacement
Daiwa Office Investment Corporation plans to sell the Daiwa Sarugakucho Building in Chiyoda-ku, Tokyo and the Daiwa Azabudai Building in Minato-ku, Tokyo between November 28, 2025, and May 29, 2026. In exchange, it intends to acquire the Hamamatsucho PREX in Minato-ku, Tokyo and the Prime Sendagaya Building in Shibuya-ku, Tokyo at the end of March 2026. The planned sales assets have an average building age of 41.2 years, whereas the planned acquisitions have a younger average age of 13.2 years. NOI will increase significantly from 100 million yen to 971 million yen, and NOI yield will improve from 2.1% to 3.7%. This will lead to a substantial expansion of core earnings and an improvement in operational efficiency.
Revision to Dividend Forecast and Future Outlook
The dividend forecast for the fiscal year ending May 2026 has been revised upward from 7,250 yen to 7,560 yen, reflecting a 4.3% increase due to the return of capital gains. A portion of these capital gains is expected to be retained internally, aiming to maintain and grow stable dividends. This asset replacement strengthens the Corporation’s earnings foundation, and a stable increase in dividends and future operational performance is expected.
