銘柄情報

Japan Metropolitan Fund Investment Corporation

Japan's first commercial facility REIT sponsored by Mitsubishi Corporation, one of Japan's largest general trading companies, and UBS A.G., one of the world's largest financial groups. It owns properties mainly in Tokyo and Greater Tokyo, as well as others in Osaka, Nagoya, and other areas across the country, which have stable high occupancy rates.

  • Unit Price and Trading Volume 拡大

  • Unit Yield, Sector Average and Overall Average 拡大

2022/04/18Update

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 Japan Metropolitan Fund Investment Corporation
Abbreviation JMF
Securities code 8953(JPX)
Listing date 2002/03/12
Time elapsed 20.30 year
Closing months February / August
URL http://www.jrf-reit.com/
Unitholders' capital 411,878Million JPY
Number of investment units authorized 6,989,091Unit
Investment amount per unit 58,932JPY
Rating S&P:A / Moody's:A3 / R&I:AA- / JCR:AA 
Type of assets under management Urban retail 48.5% Office 18.7% Mixed-use 15.0% Others 1.5% 郊Suburban retail 16.3%
Management target regions
Tokyo Area:55.1% Osaka Area:27.8% Nagoya Area:5.3% Others:11.8%
Number of investment properties 128
Number of tenants 1566
Total leasable floor space 2,553,147.83㎡

Investment Index Information

NAV per Unit 111,231JPY
Unit Price / NAV per Unit 0.95
FFO per Unit 3,651JPY
Unit Price / FFO per Unit 28.95
NOI Yield 3.79%
Implied Cap Rate 3.22%
Market capitalization 738,747Million JPY
Acquisition book value 1,211,300Million JPY
Term-end book value 1,156,290Million JPY
Appraisal value 1,308,995Million JPY
Interest-bearing liabilities 549,675Million JPY
LTV 44.06%
EV / EBITDA 28.09
Average maturity of borrowings 4.7year
Ratio of long-term fixed interest rate
Average occupancy rate 98.5%
Average age of buildings 20.51year

Investment Management Policies

  • Invests primarily in commercial facilities ranging from urban retail store buildings to suburban shopping centers, road-side stores, and so on, either directly or through special assets backed primarily by commercial facilities.
  • In principle, its investment target area is three major metropolitan areas of Tokyo, Nagoya, and Osaka, but it performs also diversified investment in major cities, including designated cities in Japan.

Other Related Corporations

Asset Manager Mitsubishi Corp. - UBS Realty Inc.
Update 2022/04/18 Capital 500Million JPY
Major Shareholders 51% Mitsubishi Corporation Other Shareholders
49% UBS A.G.

Account Settlement InformationFY2022-2(Million JPY)

38th 39th 40th
(most recent)
41th forecast 42th forcast
Revised Date Revised Date
Operating revenue 30,518 40,360 40,598 40,660 40,454
Operating income 13,505 15,560 18,808 17,357 17,674
Ordinary income 11,897 13,549 16,924 15,381 15,738
Net income 11,896 13,549 16,924 15,380 15,738
Short-term borrowings 51,000 52,900 53,200
Long-term borrowings 316,200 426,275 431,975
Investment corporation bonds 44,500 59,500 64,500
Total assets 903,221 1,235,720 1,247,439
Net assets 433,967 623,671 624,859
Distribution per unit 4,500
JPY/per Unit
2,286
JPY/per Unit
2,284
JPY/per Unit
2,250
JPY/per Unit
2,280
JPY/per Unit

Other Affiliated Companies

Asset custodian Mitsubishi UFJ Trust and Banking Corporation Accounting auditor PricewaterhouseCoopers Aarata
Accounting services Mitsubishi UFJ Trust and Banking Corporation Unitholders registry administrator Mitsubishi UFJ Trust and Banking Corporation
Tax administration services PwC Tax Japan Investment corporation bond administrator MUFG Bank,Ltd.
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