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NIPPON REIT Investment Corporation
Diversified REIT for which the main sponsor is the general trading company, Sojitz. It is listed as a complex type with office buildings and rental housing. The investment ratio in office buildings is 50％ or greater, that in rental housing is 50％ or less, and that in commercial facilities is 20％ or less. In terms of investment areas, it focuses on investments in office buildings in the six wards of central Tokyo, makes diversified investments in rental housing mainly in the three major metropolitan areas, and carefully selects and invests in commercial facilities in all investment areas. Among the strengths of this REIT are making the most of the total power of the main sponsor group and the sponsor networks with sub-sponsors of real estate funds and their knowledge.
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Unit Price and Trading Volume
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Unit Yield, Sector Average and Overall Average
Corporate Data
| Investment Corporation Name | NIPPON REIT Investment Corporation |
|---|---|
| Abbreviation | NRI |
| Securities code | 3296（JPX） |
| Listing date | 2014/04/24 |
| Time elapsed | 9.45 year |
| Closing months | June / December |
| ＵＲＬ | http://www.nippon-reit.com/ |
| Unitholders' capital | 126,516Million JPY |
| Number of investment units authorized | 449,930Unit |
| Investment amount per unit | 281,190JPY |
| Rating | JCR:A+ |
| Type of assets under management | Complex-type REIT Office Buildings：71.0％ Residential：25.8％ Retail：3.2％ |
| Management target regions | Tokyo Central 6 Wards：66.4％ Three Major Metropolitan Areas：32.1％ Ordinance-Designated Cities,etc.：1.5％ |
| Number of investment properties | 105 |
| Number of tenants | 2870 |
| Total leasable floor space | 302,664.97㎡ |
Investment Index Information
| NAV per Unit | 430,848JPY |
|---|---|
| Unit Price / NAV per Unit | 0.82 |
| FFO per Unit | 11,179JPY |
| Unit Price / FFO per Unit | 31.44 |
| NOI Yield | 3.80％ |
| Implied Cap Rate | 3.29％ |
| Market capitalization | 158,150Million JPY |
| Acquisition book value | 252,654Million JPY |
| Term-end book value | 253,293Million JPY |
| Appraisal value | 316,751Million JPY |
| Interest-bearing liabilities | 132,620Million JPY |
| LTV | 48.15％ |
| EV / EBITDA | 28.14 |
| Average maturity of borrowings | 3.67year |
| Ratio of long-term fixed interest rate | |
| Average occupancy rate | 98.2％ |
| Average age of buildings | 26.91year |
Investment Management Policies
- This REIT aims to build a diversified portfolio mainly comprised of office, residential, and commercial facilities, and to fully use the characteristics of a diversified REIT to maximize unitholder value through agile and timely investments and interests matched to those of unitholders, with an emphasis on revenue growth and stability.
Other Related Corporations
| Asset Manager | SBI REIT Advisors Co., Ltd. | |||
|---|---|---|---|---|
| Update | 2023/08/17 | Capital | 150Million JPY | |
| Major Shareholders | 67％ | SBI Financial Services Co., Ltd. | Other Shareholders | |
| 18％ | Cushman & Wakefield Asset Management K.K. | |||
| 15％ | Agility Asset Advisers Inc. | |||
Account Settlement InformationFY2023-6(Million JPY)
| 20th | 21th |
22th （most recent） |
23th forecast | 24th forcast | |
| Revised Date |
Revised Date |
||||
| Operating revenue | 8,534 | 8,547 | 8,865 | 8,579 | 8,621 |
| Operating income | 4,599 | 4,442 | 4,440 | 4,403 | 4,533 |
| Ordinary income | 3,971 | 3,774 | 3,772 | 3,674 | 3,798 |
| Net income | 3,970 | 3,773 | 3,771 | 3,674 | 3,797 |
| Short-term borrowings | 16,100 | 19,000 | 17,650 | ||
| Long-term borrowings | 110,020 | 107,120 | 108,470 | ||
| Investment corporation bonds | 6,500 | 6,500 | 6,500 | ||
| Total assets | 274,895 | 275,138 | 275,414 | ||
| Net assets | 130,592 | 130,395 | 130,392 | ||
| Distribution per unit | 8,825 JPY/per Unit |
8,387 JPY/per Unit |
8,381 JPY/per Unit |
8,166 JPY/per Unit |
8,440 JPY/per Unit |
Other Affiliated Companies
| Asset custodian | Mitsubishi UFJ Trust and Banking Corporation | Accounting auditor | KPMG AZSA 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 |
