18th Term Earnings Presentation Materials for the Fiscal Year Ending January 2026

Performance Overview

In the 18th term (fiscal year ending January 2026), the acquisition effect of "nine hours woman Shinjuku," event promotions, and continued internal growth initiatives including various cost controls absorbed the increased interest payments due to rising rates, achieving profit growth on an actual basis excluding temporary income (penalty fees) from the previous term. Distribution per unit was ¥3,615, ¥127 above the previous term's actual distribution and ¥105 above the initial forecast. The occupancy rate remained stable at 99.0%, and NAV per unit was ¥132,548. Operating revenue was ¥3,032 million (down ¥92 million YoY), operating income was ¥1,615 million (down ¥53 million YoY), and net income attributable to owners of parent was ¥1,303 million (down ¥97 million YoY).

Outlook and Earnings Guidance

The forecasted distribution for the 19th term (fiscal year ending July 2026) is ¥3,530, down ¥85 YoY due to property replacement costs and others, but up ¥8 from the previous forecast. For the 20th term (fiscal year ending January 2027), a distribution of ¥3,565 is expected, an increase of ¥35 YoY, maintaining an upward trend after property replacement. The corporation will continue external growth through new asset acquisitions and portfolio improvement while aiming for stable or improved distributions by strengthening internal growth initiatives and financial strategies.