19th Term (FY2026 July) Financial Summary

Overview of the results

The 19th term results show solid expansion in operating income driven by gains from land transfers and contributions from SONO Moon Nagoya rental income as well as full-period contributions from properties acquired in the previous term. Per-unit distribution was 3,585 yen, up 55 yen YoY, with occupancy at 99.7% indicating a high level of utilization. For FY2027 and FY2028, expected distributions are 3,500 yen and 3,520 yen respectively, with a policy to continue asset replacements to strengthen inflation resilience and pursue internal growth.

Growth strategy and financial policy going forward

Going forward, the plan is to pursue external growth through asset replacements and internal growth as two wheels, aiming for a long-term asset base exceeding 100 billion yen. Continued NOI improvement, tenant recruitment, and ancillary income growth to enhance profitability. On the financial front, strengthen refinancing and raise the proportion of fixed-rate debt, while continuing IR activities for individual investors.