銘柄情報

Nippon Prologis REIT, Inc.

Logistics facility REIT sponsored by foreign-owned Prologis Group. It focuses on investments in class-A logistics facilities. Seventy percent or more of the investment areas are those which are critical to international trade and logistics (global markets) and the remaining 30% or less are in critical sites for domestic logistics (regional markets) to provide regional diversification. The property types are such that the multi-tenant type accounts for about 80% and the build to suit type accounts for 20% with an aim of improving yield and stability. One strength is the full sponsorship and support of the Prologis Group.

  • Unit Price and Trading Volume 拡大

  • Unit Yield, Sector Average and Overall Average 拡大

2022/07/15Update

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 Nippon Prologis REIT, Inc.
Abbreviation NPR
Securities code 3283(JPX)
Listing date 2013/02/14
Time elapsed 9.48 year
Closing months May / November
URL http://www.prologis-reit.co.jp/
Unitholders' capital 458,805Million JPY
Number of investment units authorized 2,670,350Unit
Investment amount per unit 171,814JPY
Rating R&I:AA / JCR:AA 
Type of assets under management Logistics Facirity REIT Logistics Facilities(Class-A Logistics Facilities):100%
Management target regions
Kanto Area(Tokyo):59.9% Kansai Area(Osaka):34.4% Tohoku Area(Sendai):1.7% Chubu Area(Nagoya):2.3% Kyushu Area(Fukuoka):0.8%
Number of investment properties 55
Number of tenants 223
Total leasable floor space 3,619,996.79㎡

Investment Index Information

NAV per Unit 257,849JPY
Unit Price / NAV per Unit 1.36
FFO per Unit 6,672JPY
Unit Price / FFO per Unit 52.53
NOI Yield 4.71%
Implied Cap Rate 2.64%
Market capitalization 935,958Million JPY
Acquisition book value 821,983Million JPY
Term-end book value 707,448Million JPY
Appraisal value 925,860Million JPY
Interest-bearing liabilities 303,800Million JPY
LTV 37.87%
EV / EBITDA 36.34
Average maturity of borrowings 5.7year
Ratio of long-term fixed interest rate
Average occupancy rate 98.0%
Average age of buildings 8.45year

Investment Management Policies

  • Aims to ensure stable earnings by investing mainly in logistics facilities, with a particular focus on high-quality Class A logistics facilities, and to maximize unitholder value by achieving growth both in terms of the size and the value of the special assets under management.
  • Class A logistics facilities are logistics facilities that offer operational efficiency and the scale, good location, state of the art facilities, convenience, and safety for achieving it, as required by tenants, who consist of logistics companies and facility users, for their operations.
  • The Prologis Group, which is the sponsor, is the leading company and pioneer for the development and operation of Class A logistics facilities, and this REIT takes advantage of the sponsor support agreement it has concluded with the Prologis Group. In order to secure opportunities to acquire properties by using the Class A logistics facility development capabilities of the Prologis Group, which are its strength, this REIT receives pipeline support from the Prologis Group and uses to the maximum the global customer networks, management know-how and other management resources of the Prologis Group in a bid for growth.

Other Related Corporations

Asset Manager Prologis REIT Management K.K.
Update 2022/07/15 Capital 100Million JPY
Major Shareholders 100% K.K. Prologis Other Shareholders

Account Settlement InformationFY2022-5(Million JPY)

17th 18th 19th
(most recent)
20th forecast 21th forcast
Revised Date Revised Date
Operating revenue 24,554 25,410 26,859 27,534 27,540
Operating income 11,539 11,748 12,077 11,875 11,958
Ordinary income 10,576 10,844 11,006 10,865 10,919
Net income 10,611 11,003 11,329 10,974 10,918
Short-term borrowings 30,000 30,000 32,900
Long-term borrowings 216,500 216,500 234,900
Investment corporation bonds 38,000 36,000 36,000
Total assets 752,998 752,324 802,253
Net assets 440,355 438,844 468,372
Distribution per unit 4,847
JPY/per Unit
4,945
JPY/per Unit
4,906
JPY/per Unit
4,908
JPY/per Unit
4,910
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  Mitsubishi UFJ Trust and Banking Corporation
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