The corporation will replace the tenant and operator at Toyama Station Front and Tsubame-Sanjo from the current tenant to Iconia Hospitality (ICN). The rent structure will shift from a fixed-rent model to a combined fixed-plus-variable rent model, with a substantial increase in estimated annual rent. 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The rent structure will shift from a fixed-rent model to a combined fixed-plus-variable rent model, with a substantial increase in estimated annual rent. Operational impact going forward is expected to be minor.","jir_summary":"### Overview of the Change\nThe corporation will change the tenant and operator at Toyama Station Front and Tsubame-Sanjo from the current tenant Greens to Iconia Hospitality (ICN). The new contracts will be for 10 years and will adopt a combined fixed-rent plus variable-rent structure. ICN is a company that has received investment from a fund managed by an affiliate of Fortress Investment Group, and the decision was made after careful deliberation as an interested party under internal regulations.\n\n### Outlook and Impact\nThe estimated post-change rents are 234.9 million yen for Toyama Station Front and 150.3 million yen for Tsubame-Sanjo, representing a significant expected increase in revenue. The impact on operating results for the fiscal year ending June 2027 is expected to be minor; this replacement aims to enhance asset value and maximize shareholder value. ICN meets the corporation's related-party suitability requirements and is expected to support long-term stable operation of the assets as a whole.","jir_financial_highlights":"Estimated Annual Rent: Toyama Station Front: 234.9 million yen, Tsubame-Sanjo: 150.3 million yen (vs. current +227.0%, +134.6% (Tsubame-Sanjo))\nFixed Rent: Toyama Station Front previous year amount 71.8 million yen \u2192 ICN 61.3 million yen (Partially decreased)\nLeasable Area: Toyama Station Front 3,305.64 sqm, Tsubame-Sanjo 2,873.90 sqm (Post-change areas: 100% and 92.8%; each represents 0.3% of the corporation's total leasable area)","jir_category":"","jir_hashtags":"#InvincibleInvestmentCorporation, #TenantChange, #OperatorChange, #ICN, #RentStructureChange","jir_key_figures":"Toyama Station Front Estimated Annual Rent: 234.9 million yen\nTsubame-Sanjo Estimated Annual Rent: 150.3 million yen\nToyama Station Front Fixed Rent Annual Amount: 71.8 million yen \u2192 New structure including variable rent\nTsubame-Sanjo Fixed Rent Annual Amount: 64.0 million yen \u2192 40.2 million yen\nLeasable Area: Toyama Station Front 3,305.64 sqm, Tsubame-Sanjo 2,873.90 sqm","jir_meta_title":"Invincible Investment Corporation: Tenant and Operator Changed to ICN\uff5cEstimated Annual Rent Significantly Increases, Minor Impact Expected","jir_meta_description":"Invincible Investment Corporation will change the tenant and operator at Toyama Station Front and Tsubame-Sanjo to ICN. The rent structure will shift from fixed rent to fixed plus variable rent, with estimated annual rents of 234.9 million yen (Toyama Station Front) and 150.3 million yen (Tsubame-Sanjo). Impact going forward is expected to be minor.","jir_og_title":"Invincible Investment Corporation Announces Tenant Change","jir_og_description":"The tenant and operator at Toyama Station Front and Tsubame-Sanjo will be changed to ICN. The change involves a new rent structure and a significant increase in estimated annual rent, though overall impact is expected to be minor.","jir_og_image_url":"\/assets\/og\/company-general_ir.jpg","jir_chart_data_collection":"[]","ir_related_company":7864,"ir_release_date":"","ir_type":"","ir_is_new":false,"ir_document_url":"","jir_ir_type":"business_update","footnotes":""},"sector":[],"importance":[],"class_list":["post-153097","ir_release","type-ir_release","status-publish","hentry"],"yoast_head":"\n