Notice Regarding Revision of Earnings Guidance for the Fiscal Year Ending September 2026 and Earnings Guidance for the Fiscal Year Ending March 2027

Overview of Revision to Earnings Guidance

The earnings guidance for the fiscal year ending September 2026 has been revised, with operating revenue projected at JPY 7,990 million (12.4% increase from the previous forecast), operating income of JPY 4,441 million, ordinary income of JPY 3,504 million, and net income attributable to owners of parent estimated at JPY 3,503 million (9.9% increase). Distribution per unit is maintained at JPY 3,200 with no change from the previous forecast. The main reason for the revision is changes in assumptions due to new investment unit issuances and asset acquisitions. The earnings guidance for the fiscal year ending March 2027 is based on similar assumptions, anticipating operating revenue of JPY 7,866 million, net income attributable to owners of parent of JPY 3,292 million, and distribution per unit of JPY 3,200.

Assumptions for Asset Management and Finance

This forecast assumes ownership of 15 properties as of March 25, 2026, in addition to the acquisition of GRAND CENTRAL CHIBA and ICON PLACE SHIBAKOEN, partial acquisition of the Meiji Yasuda Life Osaka Umeda Building, and partial disposition of the Yokohama Plaza Building. The number of issued investment units is expected to be 1,094,537 units, including new issuances. Borrowings are projected at JPY 93,400 million, assuming refinancing, and the outstanding balance of investment corporation bonds is planned to increase from JPY 15,700 million to JPY 18,700 million. Distributions are calculated based on net income attributable to owners of parent minus the required reserve, and may fluctuate depending on future market conditions and repair expenses.