銘柄情報

ORIX JREIT Inc.

Diversified REIT sponsored by Orix. It makes diversified investments mainly in office buildings, as well as in commercial facilities, rental housing, logistics facilities, and hotels. Eighty percent of the investment areas are in the Tokyo metropolitan area, mainly the 23 wards, particularly central Tokyo, with the remainder being in other cities, mainly Osaka and Nagoya, for diversified investments.

  • Unit Price and Trading Volume 拡大

  • Unit Yield, Sector Average and Overall Average 拡大

2022/04/20Update

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 ORIX JREIT Inc.
Abbreviation OJR
Securities code 8954(JPX)
Listing date 2002/06/12
Time elapsed 20.16 year
Closing months February / August
URL http://www.orixjreit.com/
Unitholders' capital 335,757Million JPY
Number of investment units authorized 2,760,000Unit
Investment amount per unit 121,651JPY
Rating S&P:A / R&I:A+ / JCR:AA 
Type of assets under management Diversified REIT/ Offices:55.0% Retail Facilities:15.2% Residential Properties:11.5% Logistics Facirities:5.4% Others:13.0%
Management target regions
6 Central Tokyo Wards:41.3% Remaining Tokyo Wards:10.1% Other Parts of the Greater Tokyo Area:18.0% Other Areas:30.6%
Number of investment properties 112
Number of tenants 1044
Total leasable floor space 1,117,347.36㎡

Investment Index Information

NAV per Unit 195,188JPY
Unit Price / NAV per Unit 0.98
FFO per Unit 5,074JPY
Unit Price / FFO per Unit 37.69
NOI Yield 4.41%
Implied Cap Rate 3.27%
Market capitalization 527,712Million JPY
Acquisition book value 688,969Million JPY
Term-end book value 621,060Million JPY
Appraisal value 811,336Million JPY
Interest-bearing liabilities 297,637Million JPY
LTV 43.59%
EV / EBITDA 28.14
Average maturity of borrowings 4.2year
Ratio of long-term fixed interest rate
Average occupancy rate 96.7%
Average age of buildings 19.26year

Investment Management Policies

  • In terms of types, it aims to invest about 60% ±10% (on the basis of acquisition price) in office real estate.
  • In terms of region, it aims to have an investment ratio of about 80 ±10% (on the basis of acquisition price) in the Tokyo metropolitan area (Tokyo Prefecture, Kanagawa Prefecture, Chiba Prefecture, Saitama Prefecture). However, for offices, its aims for an investment ratio of about 80% in the Tokyo metropolitan area.
  • In terms of the scale of properties, it mainly invests in medium-sized offices, and for other types, it determines the size individually based on the type.
  • It aims to acquire, own, hold, and sell properties flexibly in response to changing conditions.

Other Related Corporations

Asset Manager ORIX Asset Management Corporation
Update 2022/04/20 Capital 100Million JPY
Major Shareholders 100% ORIX Corporation Other Shareholders

Account Settlement InformationFY2022-2(Million JPY)

38th 39th 40th
(most recent)
41th forecast 42th forcast
Revised Date Revised Date
Operating revenue 23,593 23,630 23,746 25,531 25,002
Operating income 10,978 10,994 10,476 12,294 11,707
Ordinary income 9,803 9,822 9,351 11,193 10,640
Net income 9,656 9,807 9,338 11,176 10,623
Short-term borrowings 35,430 41,970 40,430
Long-term borrowings 234,787 225,167 226,707
Investment corporation bonds 27,500 30,500 30,500
Total assets 684,212 684,445 682,870
Net assets 348,890 348,910 348,442
Distribution per unit 3,546
JPY/per Unit
3,553
JPY/per Unit
3,460
JPY/per Unit
3,680
JPY/per Unit
3,900
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 Trust Bank, Limited/MUFG Bank, Ltd.
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