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

Overview of Results

Operating revenue for the fiscal year ending November 2025 was 6,504 million yen (1.3% increase YoY), operating income was 2,766 million yen (2.2% decrease YoY), ordinary income was 2,360 million yen (3.1% decrease YoY), and net income attributable to owners of parent was 2,358 million yen (3.2% decrease YoY). Dividend per unit was 3,389 yen, increased from 3,319 yen in the previous fiscal year. The number of investment units issued remained unchanged at 695,200 units. Total assets amounted to 183,177 million yen and the equity ratio was 47.5%, maintaining a stable financial base.

Asset Management and Portfolio Status

As of the end of the 41st fiscal period, 37 properties are held, with total assets of 183,177 million yen. Commercial-use spaces mainly in the Kansai region account for 83.7%, maintaining a high occupancy rate of 99.9%. During the fiscal year ending November 2025, the 'Hankyu Hanshin Ueno Okachimachi Building' was acquired and the 'Shiodome East Side Building (undivided interest equivalent to 20%)' was disposed of. Regarding financing, long-term borrowings were refinanced, resulting in a borrowing balance of 86,800 million yen, and interest-bearing debt ratio of 47.4%. Credit ratings were AA- from JCR and A+ from R&I.

Outlook

Operating revenue for the fiscal years ending May 2026 and November 2026 are forecasted to be 6,306 million yen and 6,443 million yen respectively, with dividends per unit expected to be 3,270 yen and 3,330 yen. As for asset acquisition, the (tentative name) Sugi Pharmacy Daito Oryo Store (land) in Daito City, Osaka Prefecture, is planned to be acquired for 1,100 million yen. The external growth strategy focuses on continuous acquisition of high-quality properties, while the internal growth strategy emphasizes strengthening operational management, aiming to secure stable earnings and maximize investor value.