【Japan Prologis REIT Inc.】Financial Results for 2026 | Operating Income of 1.44 billion yen (△5.8%)

Performance Overview

For the fiscal year ending May 2026, operating revenue decreased by 3.9% to 33,710 million yen compared to the previous period, while net income declined by 6.2% to 14,395 million yen. The planned dividend remains at 1,716 yen per unit, continuing stable asset management. The logistics real estate market faces upward pressure on rents due to increased demand and decreased supply, with vacancy rates remaining low. Asset management remains solid, with occupancy rate at 98.0% and an average rent change rate of 7.0%. Progress on asset replacement and acquisitions ensures a stable income base.

Outlook and Impact on Shareholders

The company will continue steady operations, pursuing internal growth through rent revisions and asset replacements. External growth strategies include acquiring new properties and optimizing the portfolio, aiming for long-term dividend increases. Regarding financials, the interest-bearing debt ratio remains healthy at 40.5%, with a market-based LTV of 28.5%. The company provides stable dividends and asset value growth to shareholders while managing capital policy and asset replacement to minimize stock dilution.