Summary of the 40th term (ending July 2026) results: operating revenue of 11,126 million yen, operating income of 6,688 million yen, net income attributable to owners of the parent of 5,807 million yen. Per-share dividend of 3,100 yen. Sold 5% of the ownership interest in Laforet Harajuku land and recognized a transfer gain of 1,257 million yen to be fully distributed. Approximately 6,800 investment units acquired and canceled (0.36% of total units), NAV 166,139 yen per unit, LTV 36.5% etc., indicating high financial soundness. Going forward, by combining internal and external growth, we aim to sustainably maintain DPU of 3,100 yen and recover NAV to 1.0x.<\/p>\n","protected":false},"comment_status":"open","ping_status":"closed","template":"","meta":{"Ticker":"","DATE":"","longName":"","company_name_ja":"","fullTimeEmployees":0,"address":"","phone":"","website":"","industry":"","sector":"","regularMarketPrice":0,"financialCurrency":"","marketCap":0,"fiftyTwoWeekLow":0,"fiftyTwoWeekHigh":0,"epsTrailingTwelveMonths":0,"epsForward":0,"bookValue":0,"totalRevenue":0,"OperatingIncome":0,"operatingMargins":0,"NetIncome":0,"profitMargins":0,"ebitda":0,"trailingPE":0,"forwardPE":0,"priceToBook":0,"returnOnEquity":0,"recommendationMean":0,"recommendationKey":"","targetMeanPrice":0,"numberOfAnalystOpinions":0,"analyst_earnings_data":"","dividendRate":0,"dividendYield":0,"payoutRatio":0,"totalEsg":0,"environmentScore":0,"socialScore":0,"governanceScore":0,"title":"","providerPublishTime":"","link":"","longBusinessSummary":"","longBusinessSummary_ja":"","quarterly_revenue":0,"quarterly_net_income":0,"quarterly_operating_profit":0,"enterprise_value":0,"price_fetched_at":"","company_officer_1_name":"","company_officer_1_title":"","company_officer_2_name":"","company_officer_2_title":"","company_officer_3_name":"","company_officer_3_title":"","company_officer_4_name":"","company_officer_4_title":"","company_officer_5_name":"","company_officer_5_title":"","company_officers_update_time":"","get_dividend_history_year1":0,"get_dividend_history_year2":0,"get_dividend_history_year3":0,"get_dividend_history_year4":0,"get_dividend_history_year5":0,"get_dividend_history_year6":0,"get_dividend_history_year7":0,"get_dividend_history_year8":0,"get_dividend_history_year9":0,"get_dividend_history_year10":0,"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"jir_stock_code":"3234","jir_company_name":"Mori Hills REIT Investor Corporation","jir_importance":"\u2605\u2605\u2605\u2605\u2606","jir_publication_date":"2026-09-14","jir_source_link":"https:\/\/japanir.jp\/wp-content\/uploads\/2026\/09\/3234-20260914-02.pdf","jir_short_summary":"Summary of the 40th term (ending July 2026) results: operating revenue of 11,126 million yen, operating income of 6,688 million yen, net income attributable to owners of the parent of 5,807 million yen. Per-share dividend of 3,100 yen. Sold 5% of the ownership interest in Laforet Harajuku land and recognized a transfer gain of 1,257 million yen to be fully distributed. Approximately 6,800 investment units acquired and canceled (0.36% of total units), NAV 166,139 yen per unit, LTV 36.5% etc., indicating high financial soundness. Going forward, by combining internal and external growth, we aim to sustainably maintain DPU of 3,100 yen and recover NAV to 1.0x.","jir_summary":"### Operations and Financial Soundness\nIn this fiscal period, gains from the transfer of Laforet Harajuku land ownership contributed to overall gains, and the DPU was achieved as planned. We conducted acquisitions and cancellations of internal investment units to stabilize the total number of issued investment units. High occupancy rates for both office and residential properties and increases driven by rent revisions and tenant replacement continued. On the financial side, LTV 36.5% (appraised value basis) remained at a low level, and supported by a rating of AA (stable), we secured leeway for mid- to long-term capital policy.\n\n### Policy and Outlook Going Forward\nFrom the 41st term onward, we plan to maintain a DPU of 3,100 yen. By combining internal retention using gains from Laforet Harajuku land, and excluding transfer gains, we aim to maintain and improve DPU. As external growth, we plan to continue acquiring premium properties in central Tokyo utilizing the sponsor pipeline. In the mid to long term, we expect property appraisal values to rise while maintaining LTV in the mid-40% range, aiming to strengthen stable cash flows.","jir_financial_highlights":"Operating revenue: 11,126 million yen (YoY 0.0%)\nOperating income: 6,688 million yen (YoY -317)\nNet income: 5,807 million yen (YoY -317)\nEarnings per unit (DPU): 3,100 yen (YoY 0.0%)\nNAV: 166,139 yen per unit (YoY +0.6%)\nNOI: 4,269,718 thousand yen annualized (YoY +68,087)","jir_category":"","jir_hashtags":"# Mori Hills REIT Investor Corporation, #Earnings, #InternalGrowth, #ExternalGrowth","jir_key_figures":"Operating revenue: 11,126 million yen\nNet income: 5,807 million yen\nPer-unit dividend: 3,100 yen","jir_meta_title":"Mori Hills REIT Investor Corporation \u2013 The 40th Term Earnings Briefing Materials\uff5cEnding July 2026","jir_meta_description":"Mori Hills REIT Investor Corporation's 40th term earnings briefing materials. Operating revenue of 11,126 million yen, DPU 3,100 yen, NAV 166,139 yen, transfer gain of 1,257 million yen from Laforet Harajuku land, etc., outlining financial soundness and future strategy.","jir_og_title":"Mori Hills REIT Investor Corporation \u2013 The 40th Term Earnings Briefing Materials","jir_og_description":"Highlights of the 40th term earnings briefing. DPU 3,100 yen, NAV 166,139 yen, external\/internal growth strategies, and financial soundness explained.","jir_og_image_url":"\/assets\/og\/company-financial_summary.jpg","jir_chart_data_collection":"[]","ir_related_company":8728,"ir_release_date":"","ir_type":"","ir_is_new":false,"ir_document_url":"","jir_ir_type":"financial_summary","footnotes":""},"sector":[],"importance":[],"class_list":["post-113764","ir_release","type-ir_release","status-publish","hentry"],"yoast_head":"\n