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Kenedix Office Investment Corporation
Diversified REIT consisting mainly of office buildings, sponsored by Kenedix. The investment policy involves concentrating on medium-scale office buildings in the Tokyo economic zone, mainly the five wards of central Tokyo. Its policy is to expand its asset size, mainly in office buildings, in the future.
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Unit Price and Trading Volume
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Unit Yield, Sector Average and Overall Average
Corporate Data
| Investment Corporation Name | Kenedix Office Investment Corporation |
|---|---|
| Abbreviation | KDO |
| Securities code | 8972（JPX） |
| Listing date | 2005/07/21 |
| Time elapsed | 17.36 year |
| Closing months | April / October |
| ＵＲＬ | http://www.kdx-reit.com/ |
| Unitholders' capital | 220,970Million JPY |
| Number of investment units authorized | 428,510Unit |
| Investment amount per unit | 515,671JPY |
| Rating | JCR:AA |
| Type of assets under management | Mid-sized Office Buildings：84.1％ Other Office Buildings：15.3％ Others：0.6％ |
| Management target regions | Five Central Wards Of Tokyo：51.4％ Tokyo Metropolitan Area(excluding 5 Central Wards)：28.5％ Other Regional Areas：20.0％ |
| Number of investment properties | 97 |
| Number of tenants | 1167 |
| Total leasable floor space | 482,913.73㎡ |
Investment Index Information
| NAV per Unit | 793,279JPY |
|---|---|
| Unit Price / NAV per Unit | 0.43 |
| FFO per Unit | 22,998JPY |
| Unit Price / FFO per Unit | 14.78 |
| NOI Yield | 4.14％ |
| Implied Cap Rate | 5.07％ |
| Market capitalization | 145,693Million JPY |
| Acquisition book value | 445,606Million JPY |
| Term-end book value | 426,967Million JPY |
| Appraisal value | 535,600Million JPY |
| Interest-bearing liabilities | 205,150Million JPY |
| LTV | 44.14％ |
| EV / EBITDA | 17.90 |
| Average maturity of borrowings | 4.1year |
| Ratio of long-term fixed interest rate | |
| Average occupancy rate | 98.3％ |
| Average age of buildings | 26.05year |
Investment Management Policies
- Invests with a focus on mid-sized office buildings. Its goal by type is as follows. Rental office buildings that meet the following criteria for total floor area and whose primary type is as offices: 80％ to 100％
* Tokyo's 23 wards: Total floor area of 13,000 ㎡ or less
* Outside Tokyo's 23 wards: Total floor area of 20,000 ㎡ or less
Rental office buildings other than above whose primary use is as offices, urban commercial facilities, housing: 0％ to 20％
- Invests primarily in real estate, etc., located in the Tokyo metropolitan economic bloc (major cities in Tokyo Prefecture, Kanagawa Prefecture, Saitama Prefecture, Chiba Prefecture).
Other Related Corporations
| Asset Manager | Kenedix Real Estate Fund Management, Inc. | |||
|---|---|---|---|---|
| Update | 2022/06/14 | Capital | 100Million JPY | |
| Major Shareholders | 100％ | Kenedix, Inc. | Other Shareholders | |
Account Settlement InformationFY2022-4(Million JPY)
| 32th | 33th |
34th （most recent） |
35th forecast | 36th forcast | |
| Revised Date |
Revised Date |
||||
| Operating revenue | 16,301 | 15,028 | 15,891 | 15,959 | 15,600 |
| Operating income | 7,900 | 6,857 | 7,427 | 7,114 | 6,743 |
| Ordinary income | 7,017 | 5,911 | 6,497 | 6,191 | 5,837 |
| Net income | 7,016 | 5,909 | 6,496 | 6,190 | 5,836 |
| Short-term borrowings | 21,868 | 29,150 | 22,050 | ||
| Long-term borrowings | 159,250 | 156,600 | 1,000 | ||
| Investment corporation bonds | 11,000 | 13,000 | 182,100 | ||
| Total assets | 457,505 | 456,327 | 464,802 | ||
| Net assets | 230,981 | 230,544 | 231,763 | ||
| Distribution per unit | 15,384 JPY/per Unit |
14,000 JPY/per Unit |
14,000 JPY/per Unit |
14,150 JPY/per Unit |
14,150 JPY/per Unit |
Other Affiliated Companies
| Asset custodian | Mizuho Trust & Banking Co., Ltd. | Accounting auditor | Ernst & Young ShinNihon LLC |
|---|---|---|---|
| Accounting services | Mitsubishi UFJ Trust and Banking Corporation | Unitholders registry administrator | Sumitomo Mitsui Trust Bank, Limited |
| Tax administration services | Mitsubishi UFJ Trust and Banking Corporation | Investment corporation bond administrator | Sumitomo Mitsui Banking Corporation、Mitsubishi UFJ Trust and Banking Corporation |
