- HOME>
- List of Company>
- Company Data
Daiwa Office Investment Corporation
Office building REIT sponsored by Daiwa Securities Group Inc. The investment policy involves carefully selecting areas and sizes of investment in accordance with the characteristics of office buildings to ensure stable management and aim to ensure long-term EPS (earnings per share). Specifically, it aims to make diversified investments in properties of various ages, each with a total floor space of 2000 ㎡ or greater. Sixty percent or more of the investment areas are in the Tokyo's five major wards (the most important investment areas), up to 40％ in other parts of the Tokyo metropolitan area, and up to 20％ in other major cities.
-
Unit Price and Trading Volume
-
Unit Yield, Sector Average and Overall Average
Corporate Data
| Investment Corporation Name | Daiwa Office Investment Corporation |
|---|---|
| Abbreviation | DOI |
| Securities code | 8976（JPX） |
| Listing date | 2005/10/19 |
| Time elapsed | 16.81 year |
| Closing months | May / November |
| ＵＲＬ | http://www.daiwa-office.co.jp/ |
| Unitholders' capital | 241,093Million JPY |
| Number of investment units authorized | 482,529Unit |
| Investment amount per unit | 499,646JPY |
| Rating | R&I:AA- / JCR:AA |
| Type of assets under management | Office Building REIT / OfficeBuildings：100％ |
| Management target regions | Five Central Wards of Tokyo：80.7％ Greater Tokyo：17.3％ Other Regions：2.0％ |
| Number of investment properties | 59 |
| Number of tenants | 635 |
| Total leasable floor space | 350,711.77㎡ |
Investment Index Information
| NAV per Unit | 803,242JPY |
|---|---|
| Unit Price / NAV per Unit | 0.85 |
| FFO per Unit | 21,099JPY |
| Unit Price / FFO per Unit | 32.18 |
| NOI Yield | 3.39％ |
| Implied Cap Rate | 2.76％ |
| Market capitalization | 327,637Million JPY |
| Acquisition book value | 466,528Million JPY |
| Term-end book value | 453,560Million JPY |
| Appraisal value | 590,840Million JPY |
| Interest-bearing liabilities | 205,800Million JPY |
| LTV | 42.57％ |
| EV / EBITDA | 32.98 |
| Average maturity of borrowings | 4.0year |
| Ratio of long-term fixed interest rate | |
| Average occupancy rate | 98.4％ |
| Average age of buildings | 24.12year |
Investment Management Policies
- For existing properties, provides highly satisfactory office environments to existing tenants, aiming to reduce the risk of tenant vacation risk and maintain occupancy rates. Moreover, aims to actively incorporate the needs of new tenants in order to secure stable earnings over the medium to long term. Further, by leveraging economies of scale, also aims to decrease operation and management costs.
- With regard to new properties, continues to invest heavily in Class A and Class B office buildings* mainly located in the five wards of central Tokyo and the Tokyo metropolitan area. Rather than combine types with different characteristics, invests exclusively in office buildings.
*: Class A building: Building with a total floor area of 30,000 ㎡ or more
Class B building: Building with a total floor area between 2,000 ㎡ and under 30,000 ㎡
Other Related Corporations
| Asset Manager | Daiwa Real Estate Asset Management Co. Ltd. | |||
|---|---|---|---|---|
| Update | 2022/07/21 | Capital | 200Million JPY | |
| Major Shareholders | 100％ | Daiwa Securities Co. Ltd. | Other Shareholders | |
Account Settlement InformationFY2022-5(Million JPY)
| 31th | 32th |
33th （most recent） |
34th forecast | 35th forcast | |
| Revised Date |
Revised Date |
||||
| Operating revenue | 15,054 | 13,882 | 14,474 | 13,727 | 13,629 |
| Operating income | 8,137 | 7,351 | 7,923 | 6,949 | 6,873 |
| Ordinary income | 7,550 | 6,784 | 7,493 | 6,370 | 6,273 |
| Net income | 7,549 | 6,799 | 7,493 | 6,369 | 6,272 |
| Short-term borrowings | 23,900 | 34,000 | 30,600 | ||
| Long-term borrowings | 170,450 | 159,350 | 166,200 | ||
| Investment corporation bonds | 9,000 | 9,000 | 9,000 | ||
| Total assets | 484,310 | 483,279 | 483,461 | ||
| Net assets | 253,522 | 253,637 | 250,538 | ||
| Distribution per unit | 14,000 JPY/per Unit |
14,000 JPY/per Unit |
14,000 JPY/per Unit |
13,600 JPY/per Unit |
13,600 JPY/per Unit |
Other Affiliated Companies
| Asset custodian | Sumitomo Mitsui Trust Bank, Limited | Accounting auditor | KPMG AZSA 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 | Sumitomo Mitsui Banking Corporation Resona Bank,Limited |
