銘柄情報

Kenedix Retail REIT Corporation

Commercial facility REIT targeting commercial facilities closely related to everyday life, sponsored by Kenedix Group. By focusing on commercial facilities closely related to everyday life, it contributes to the revitalization of local communities, as well as social-infrastructure improvements, while aiming for stable asset management over the medium to long term. By receiving the wide-ranging support of the Kenedix Group, as well as its supporting companies, namely, Sumitomo Mitsui Finance and Leasing Co., Ltd., Nippon Commercial Development Co., Ltd., and P&D Consulting Co., Ltd., it promotes its growth strategy, fully leveraging its management and other know-how.

  • 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 Kenedix Retail REIT Corporation
Abbreviation KRR
Securities code 3453(JPX)
Listing date 2015/02/10
Time elapsed 7.80 year
Closing months March / September
URL http://www.krr-reit.com/
Unitholders' capital 133,104Million JPY
Number of investment units authorized 582,177Unit
Investment amount per unit 228,631JPY
Rating JCR:A+ 
Type of assets under management Commercial Facility REIT / Retail Facilities:100%
Management target regions
Tokyo Metropolitan Area:47.2% Greater Osaka Area:20.5 Greater Nagoya Area:8.7% Greater Fukuoka Area:5.5% Ordinance-designated cities, core cities and other areas:18.0%
Number of investment properties 66
Number of tenants 519
Total leasable floor space 985,850.19㎡

Investment Index Information

NAV per Unit 268,597JPY
Unit Price / NAV per Unit 0.98
FFO per Unit 11,364JPY
Unit Price / FFO per Unit 23.27
NOI Yield 4.07%
Implied Cap Rate 3.42%
Market capitalization 153,928Million JPY
Acquisition book value 247,291Million JPY
Term-end book value 247,975Million JPY
Appraisal value 266,837Million JPY
Interest-bearing liabilities 123,300Million JPY
LTV 44.70%
EV / EBITDA 26.58
Average maturity of borrowings 4.5year
Ratio of long-term fixed interest rate
Average occupancy rate 99.2%
Average age of buildings 15.79year

Investment Management Policies

  • By investing wholly in commercial facilities in such a way that commercial facilities that are closely related to everyday life, which are its important investment targets, account for 80% or more of its commercial facility investment, it creates a stable cash flow and, at the same time, aims to construct a portfolio with a potential for revenue growth.
  • It invests aggressively, mainly in the four large metropolitan areas, but by carefully selecting and investing in Ordinance-designated cities, core cities and other areas outside the four large metropolitan areas, it avoids excessive concentration in one specific areas, and aims to construct a portfolio capable of improving profitability and flexibly accommodating market changes.

Other Related Corporations

Asset Manager Kenedix Real Estate Fund Management, Inc.
Update 2022/05/18 Capital 100Million JPY
Major Shareholders 100% Kenedix, Inc. Other Shareholders

Account Settlement InformationFY2022-3(Million JPY)

12th 13th 14th
(most recent)
15th forecast 16th forcast
Revised Date Revised Date
Operating revenue 8,717 9,576 10,254 9,250 9,135
Operating income 4,379 4,881 4,756 4,459 4,392
Ordinary income 3,799 4,262 4,131 3,835 3,780
Net income 2,798 4,261 4,127 3,834 3,779
Short-term borrowings 16,950 11,800 10,800
Long-term borrowings 87,850 100,500 103,500
Investment corporation bonds 8,000 8,000 9,000
Total assets 251,773 272,622 275,833
Net assets 124,701 137,052 137,354
Distribution per unit 7,095
JPY/per Unit
7,328
JPY/per Unit
7,090
JPY/per Unit
6,595
JPY/per Unit
6,491
JPY/per Unit

Other Affiliated Companies

Asset custodian Mizuho Trust & Banking Co., Ltd. Accounting auditor Ernst & Young ShinNihon LLC
Accounting services Mizuho Trust & Banking Co., Ltd. Unitholders registry administrator Mizuho Trust & Banking Co., Ltd.
Tax administration services Mizuho Trust & Banking Co., Ltd. Investment corporation bond administrator Sumitomo Mitsui Trust Bank, Limited
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