銘柄情報

Daiwa Securities Living Investment Corporation

  • Unit Price and Trading Volume 拡大

  • Unit Yield, Sector Average and Overall Average 拡大

2022/05/18Update

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 Daiwa Securities Living Investment Corporation
Abbreviation
Securities code 8986(JPX)
Listing date 2006/06/22
Time elapsed 16.13 year
Closing months March / September
URL https://www.daiwa-securities-living.c...
Unitholders' capital 132,171Million JPY
Number of investment units authorized 2,204,890Unit
Investment amount per unit 59,944JPY
Rating R&I:A+ / JCR:A+ 
Type of assets under management Rent Housing 70.5% Healthcare 29.5%
Management target regions
23 Wards of Tokyo:43.2% Three Major Metropolitan Areas:43.0% Other Major Cities:13.7%
Number of investment properties 239
Number of tenants 1
Total leasable floor space 774,700.89㎡

Investment Index Information

NAV per Unit 109,108JPY
Unit Price / NAV per Unit 1.13
FFO per Unit 3,229JPY
Unit Price / FFO per Unit 38.28
NOI Yield 4.29%
Implied Cap Rate 3.08%
Market capitalization 272,524Million JPY
Acquisition book value 343,923Million JPY
Term-end book value 320,798Million JPY
Appraisal value 395,997Million JPY
Interest-bearing liabilities 178,887Million JPY
LTV 50.97%
EV / EBITDA 31.70
Average maturity of borrowings 4.3year
Ratio of long-term fixed interest rate
Average occupancy rate 97.7%
Average age of buildings 13.89year

Investment Management Policies

  • Invests in specific assets such as real estate of mainly residential type (rental housing) across Japan, particularly in the 23 wards of Tokyo and the three major metropolitan areas.
  • Through investment in rental housing, pursues the stabilization of its portfolio income over the medium and long term, as well as the steady expansion of the size of its assets and the stabilization of income from each of its assets under management, and through this, the continued expansion of unitholder value.
  • Makes investment decisions by taking into consideration the changing family structures, respective changes in the approach to residences, the characteristics of each region, etc., and based on a grasp of diversifying user needs. With regard to investments, it selects from two rental house categories, the one-room type and the family type, real estate that it thinks will produce stable earnings, and invests in both categories based on its target investment ratio.

Other Related Corporations

Asset Manager Mi-Casa Asset Management Inc.
Update 2022/05/18 Capital 200Million JPY
Major Shareholders 100% Daiwa Real Estate Asset Management Co., Ltd. Other Shareholders

Account Settlement InformationFY2022-3(Million JPY)

30th 31th 32th
(most recent)
33th forecast 34th forcast
Revised Date Revised Date
Operating revenue 10,487 10,811 11,263 11,299 11,327
Operating income 5,101 5,090 5,324 5,333 5,363
Ordinary income 5,031 4,433 4,622 4,637 4,653
Net income 4,457 4,432 4,621 4,636 4,653
Short-term borrowings 13,700 13,500 19,400
Long-term borrowings 137,937 139,087 137,387
Investment corporation bonds 20,100 20,100 22,100
Total assets 335,601 336,301 350,956
Net assets 157,466 157,295 165,372
Distribution per unit 2,190
JPY/per Unit
2,160
JPY/per Unit
2,180
JPY/per Unit
2,180
JPY/per Unit
2,180
JPY/per Unit

Other Affiliated Companies

Asset custodian Mitsubishi UFJ Trust and Banking Corporation Accounting auditor Grant Thornton Taiyo LLC
Accounting services Mitsubishi UFJ Trust and Banking Corporation Unitholders registry administrator Mitsubishi UFJ Trust and Banking Corporation
Tax administration services Mitsubishi UFJ Trust and Banking Corporation Investment corporation bond administrator MUFG Bank, Ltd.
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