Financial Summary for the Fiscal Year Ending February 2026 (REIT)

Performance Overview

For the fiscal year ending February 2026, Japan Urban Fund Investment Corporation recorded operating revenue of 52,075 million yen (YoY +5.6%), operating income of 26,650 million yen (YoY +9.7%), ordinary income of 23,695 million yen (YoY +9.2%), and net income attributable to owners of parent of 23,695 million yen (YoY +9.2%). Dividend per unit was 3,006 yen, reflecting a 6.6% increase year-over-year. Total assets amounted to 1.3634 trillion yen, net assets reached 653.1 billion yen, and the equity ratio stood at 47.9%. The portfolio consists of 158 properties with a total acquisition price of 1.3241 trillion yen, maintaining a high occupancy rate of 99.2% across the portfolio.

Asset Management and Investment Environment

During the fiscal year, acquisition of 17 properties and disposition of 3 properties were executed, alongside additional acquisitions of units in private placement REITs focusing mainly on rental housing. The investment environment was characterized by moderate economic growth and rising prices, with commercial facilities and office rental markets remaining robust. Financing activities included refinancing of existing borrowings and new borrowings, resulting in interest-bearing debt of 629.6 billion yen, a long-term debt ratio of 98.4%, and a fixed interest rate ratio of 93.8%.

Future Outlook

Operations for the August 2026 and February 2027 periods are forecasted with operating revenue at 51,028 million yen (YoY -2.0%), ordinary income at 22,454 million yen (YoY -5.2%), net income at 22,453 million yen (YoY -5.2%), and dividend per unit of 2,981 yen. For February 2027, further decreases are expected with operating revenue at 46,168 million yen, ordinary income and net income both at 17,667 million yen, and dividend of 2,900 yen. The company plans to strengthen portfolio profitability while paying close attention to the impact of domestic and international financial policies and geopolitical developments.