One REIT, Inc.
Financial Summary for the Fiscal Period Ending February 2026 (REIT)
Operating revenue for the fiscal period ending February 2026 was 4,690 million yen (12.0% decrease YoY), net income was 1,922 million yen (22.4% decrease YoY), and dividend distribution amounted to 2,386 yen per unit. The number of outstanding investment units was 805,404.
Key Figures
- Operating Revenue: 4,690 million yen (12.0% decrease YoY)
- Net Income Attributable to Owners of Parent: 1,922 million yen (22.4% decrease YoY)
- Number of Outstanding Investment Units: 805,404 units (significant increase YoY)
AI要約
Performance Overview
For the fiscal period ending February 2026, operating revenue was 4,690 million yen, a 12.0% decrease YoY; operating income was 2,353 million yen (17.9% decrease YoY); ordinary income was 1,923 million yen (22.6% decrease YoY); and net income attributable to owners of parent was 1,922 million yen (22.4% decrease YoY). Dividend per investment unit was 2,386 yen. Applying the special tax measures law that allows maximum deductibility of dividend payout, almost the entire amount of undistributed income after deducting internally reserved amounts carried over from previous periods was distributed. The number of outstanding investment units has significantly increased to 805,404 units from 268,468 units as of the August 2025 period.
Asset Management and Financial Position
At the end of the period, the portfolio comprised 28 properties (total acquisition cost of 122,588 million yen), with a total rentable area of 157,059.07㎡ and an occupancy rate of 97.3%. As part of the asset replacement strategy, ONEST Minami-Otsuka Building and Shinkawa 1-Chome Building were sold, and Candeo Hotels Kyoto Karasuma Rokkaku was acquired. Interest-bearing debt balance was 65,394 million yen with an LTV of 48.5%. New investment units were issued in March 2026, partially financing acquisitions. Going forward, the focus will be on qualitative enhancement and enlarging the portfolio scale, mainly comprising small to medium-sized office buildings, but also including hotels, residential, and commercial facilities.
Outlook
For the fiscal periods ending August 2026 and February 2027, operating revenues are forecasted at 5,006 million yen and 5,226 million yen, respectively, with net incomes of 1,812 million yen and 1,832 million yen. Dividends per unit are planned at 2,170 yen, assuming the drawdown of internal reserves. While attention must be paid to economic factors such as U.S. trade policies and Middle East conditions, the office building rental market is expected to maintain solid demand. The hotel market is also anticipated to benefit from inbound demand recovery.
