Financial Summary for the Fiscal Year Ending November 2025 (REIT)

Overview of Performance

For the fiscal year ending November 2025, Activia Properties Inc. recorded operating revenue of JPY 16,538 million (4.1% YoY increase), operating income of JPY 8,557 million (6.6% YoY increase), ordinary income of JPY 7,395 million (6.9% YoY increase), and net income attributable to owners of parent of JPY 7,394 million (6.9% YoY increase). Dividend per unit was JPY 3,113, representing a 2.8% increase YoY. The portfolio consists of 45 properties, with total acquisition cost of JPY 541,800 million and total rentable area of 443,875.29㎡. The equity ratio stood at 47.7% and LTV at 47.2%, maintaining financial stability.

Outlook and Management Policy

For the fiscal year ending May 2026, operating revenue is forecasted at JPY 17,689 million (7.0% YoY increase), with dividend per unit expected at JPY 3,169. Despite anticipated slowdown in Japanese economic growth, vacancy rates at commercial facilities are expected to decline and rents to rise, while vacancy rates in the leased office market are also forecasted to decrease. The investment corporation will continue to focus investment on urban commercial facilities and Tokyo offices, leveraging the Tokyu Fudosan Holdings Group value chain to drive both external and internal growth. The financial strategy involves conservative LTV management and the extension of long-term fixed borrowings to build a stable financial base.