銘柄情報

MORI TRUST Sogo Reit, Inc.

Diversified REIT sponsored by Mori Trust. It makes diversified investments in commercial facilities, mainly office buildings in central Tokyo, as well as other properties (rental housing and hotels). It sets standards for minimum investment amounts in order to acquire large-scale real estate, and establishes standards for ensuring stable management, such as for basically concluding medium- to long-term rental contracts.

  • Unit Price and Trading Volume 拡大

  • Unit Yield, Sector Average and Overall Average 拡大

2022/05/23Update

投資指標の計算式について

Investment amount per unit

Unitholders' capital / Number of investment units authorized

NAV per unit

((Unitholders' capital + Investment surplus) + (Portforio assets appraisal value - ortfolio assets book value) / Number of investment units authorized

P/NAV

Investment unit price / NAV per unit

FFO per unit

(Net income + depreciation + profit and loss on real estate) / Number of investment units authorized

P/FFO

Investment unit price / FFO per unit

NOI

Rental business income + depreciation

NOI yield

NOI / Portfolio assets book value

Implied cap rate

NOI / (Market capitalization + (Interest-bearing liabilities - cash on hand and in bank) + Security and guarantee deposits received

Market capitalization

Investment unit price * Number of investment units authorized

LTV

Interest-bearing liabilities / Total assets

DSCR

NOI / (Interest-bearing liabilities at end of previous period - Interest-bearing liabilities at end of current period + current interest expense)

EV / EBITDA

Market capitalization + (Interest-bearing liabilities - cash on hand and in bank) / NOI

Ratio of long-term fixed interest rate

Long-term fixed interest / Interest-bearing liabilities

Corporate Data

Investment Corporation Name MORI TRUST Sogo Reit, Inc.
Abbreviation MTR
Securities code 8961(JPX)
Listing date 2004/02/13
Time elapsed 18.49 year
Closing months March / September
URL http://www.mt-reit.jp/
Unitholders' capital 153,990Million JPY
Number of investment units authorized 1,320,000Unit
Investment amount per unit 116,659JPY
Rating JCR:AA 
Type of assets under management Diversified REIT / Office Buildings:71.2% Retail Facilities:22.0% Others(Residence・Hotel):6.8%
Management target regions
Central Tokyo:80.2% Others:19.8%
Number of investment properties 16
Number of tenants 197
Total leasable floor space 400,762.36㎡

Investment Index Information

NAV per Unit 150,593JPY
Unit Price / NAV per Unit 0.96
FFO per Unit 5,390JPY
Unit Price / FFO per Unit 26.85
NOI Yield 2.67%
Implied Cap Rate 2.38%
Market capitalization 191,004Million JPY
Acquisition book value 324,705Million JPY
Term-end book value 306,986Million JPY
Appraisal value 345,810Million JPY
Interest-bearing liabilities 154,000Million JPY
LTV 47.99%
EV / EBITDA 40.13
Average maturity of borrowings 3.3year
Ratio of long-term fixed interest rate
Average occupancy rate 96.0%
Average age of buildings 21.64year

Investment Management Policies

  • Regardless of the type of investment real estate, invests by allocating about 60% to 80% of total asset value mainly to central Tokyo locations where commerce, industry and the population are concentrated.
  • Along with investing around 70% to 90% by total asset value in investment real estate that serves as "office buildings," invests also in "commercial facilities (10% to 30% of total asset value) and other (limited to residences and hotels for the time being)" (0% to 10% of total asset value).

Other Related Corporations

Asset Manager MORI TRUST Asset Management Co.,Ltd.
Update 2022/05/23 Capital 400Million JPY
Major Shareholders 75% Mori Trust Holdings Inc. Other Shareholders
10% Sompo Japan Nipponkoa Insurance Inc.
5% Sumitomo Mitsui Banking Corporation
5% The Bank of Tokyo-Mitsubishi UFJ, Ltd .
5% Mizuho Bank, Limited

Account Settlement InformationFY2022-3(Million JPY)

38th 39th 40th
(most recent)
41th forecast 42th forcast
Revised Date Revised Date
Operating revenue 8,789 9,202 8,528 6,845 6,876
Operating income 5,464 5,563 5,042 3,324 3,383
Ordinary income 5,116 5,205 4,685 2,936 2,974
Net income 5,115 5,041 4,537 3,257 3,200
Short-term borrowings 36,500 37,500 31,500
Long-term borrowings 106,500 103,500 109,500
Investment corporation bonds 14,000 14,000 15,000
Total assets 330,301 328,288 325,071
Net assets 160,180 160,106 159,957
Distribution per unit 3,875
JPY/per Unit
3,550
JPY/per Unit
3,195
JPY/per Unit
3,000
JPY/per Unit
2,800
JPY/per Unit

Other Affiliated Companies

Asset custodian Sumitomo Mitsui Trust Bank, Limited Accounting auditor Ernst & Young ShinNihon LLC
Accounting services Sumitomo Mitsui Trust Bank, Limited Unitholders registry administrator Sumitomo Mitsui Trust Bank, Limited
Tax administration services Sumitomo Mitsui Trust Bank, Limited Investment corporation bond administrator Mitsubishi UFJ Trust and Banking Corporation Sumitomo Mitsui Trust Bank, Limited
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