銘柄情報

HEIWA REAL ESTATE REIT, Inc.

Diversified REIT sponsored by Heiwa Real Estate. The investment policy is one of diversified investment in a large number of properties, with the investment ratios set to roughly 50% for both offices and residences, with the ratio of exceptional assets (such as commercial facilities and hotels) set to 5% or less. Eighty percent of the investment areas are in the Tokyo metropolitan area, while 20% are in Chubu, Kinki, and others.

  • Unit Price and Trading Volume 拡大

  • Unit Yield, Sector Average and Overall Average 拡大

2022/07/14Update

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 HEIWA REAL ESTATE REIT, Inc.
Abbreviation HFR
Securities code 8966(JPX)
Listing date 2005/03/08
Time elapsed 17.73 year
Closing months May / November
URL http://www.heiwa-re.co.jp/
Unitholders' capital 90,063Million JPY
Number of investment units authorized 1,055,733Unit
Investment amount per unit 85,309JPY
Rating JCR:A+ 
Type of assets under management Complex-type REIT / Offices:46.93% Residences:53.07% Others:0%
Management target regions
Central Tokyo (5 Wards):39.43% Tokyo (23 Wards):28.26% Outlying Tokyo:11.12% Other:21.20%
Number of investment properties 114
Number of tenants 5526
Total leasable floor space 270,194.66㎡

Investment Index Information

NAV per Unit 142,006JPY
Unit Price / NAV per Unit 1.14
FFO per Unit 4,368JPY
Unit Price / FFO per Unit 36.98
NOI Yield 4.05%
Implied Cap Rate 2.76%
Market capitalization 170,501Million JPY
Acquisition book value 196,394Million JPY
Term-end book value 187,279Million JPY
Appraisal value 232,826Million JPY
Interest-bearing liabilities 96,757Million JPY
LTV 46.12%
EV / EBITDA 34.32
Average maturity of borrowings 3.94year
Ratio of long-term fixed interest rate
Average occupancy rate 97.59%
Average age of buildings 22.13year

Investment Management Policies

  • Invests with a particular focus on offices and residences located in the investment area centered in Tokyo's wards.
  • Aims to keep investments in regional office buildings, regional residences, and extraordinary assets within 30% of total portfolio assets (on the basis of acquisition price).

Other Related Corporations

Asset Manager HEIWA REAL ESTATE Asset Management CO., LTD.
Update 2022/07/14 Capital 296Million JPY
Major Shareholders 100% HEIWA REAL ESTATE CO.,LTD. Other Shareholders

Account Settlement InformationFY2022-5(Million JPY)

39th 40th 41th
(most recent)
42th forecast 43th forcast
Revised Date Revised Date
Operating revenue 6,730 6,876 7,322 7,795 7,801
Operating income 3,309 3,361 3,609 3,954 3,899
Ordinary income 2,916 2,972 3,193 3,502 3,432
Net income 2,916 2,971 3,193 3,501 3,431
Short-term borrowings 11,869 11,149 11,580
Long-term borrowings 68,298 71,808 77,277
Investment corporation bonds 7,900 7,900 7,900
Total assets 190,986 203,206 209,794
Net assets 95,183 104,192 104,618
Distribution per unit 2,800
JPY/per Unit
2,890
JPY/per Unit
3,050
JPY/per Unit
3,115
JPY/per Unit
3,115
JPY/per Unit

Other Affiliated Companies

Asset custodian Mizuho Trust & Banking Co., Ltd. Accounting auditor KPMG AZSA LLC
Accounting services Heiseikaikeisha(“HSK”) Tax Corporation Unitholders registry administrator Mizuho Trust & Banking Co., Ltd.
Tax administration services Heiseikaikeisha(“HSK”) Tax Corporation Investment corporation bond administrator Resona Bank,Limited
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