銘柄情報

Ichigo Hotel REIT Investment Corporation

Ichigo Hotel REIT is a specialized hotel REIT formed to invest in hotel properties while making maximum use of the Ichigo Group’s experience and know-how in revitalizing real estate. Ichigo Hotel REIT will deploy Ichigo’s deep real estate expertise to increase asset profitability via, for example, the strategic and effective use of value-add capex. Ichigo Hotel REIT also expects to pro-actively pursue portfolio growth and economies of scale for shareholders by using the Ichigo Group’s robust sourcing capabilities. (Excerpt from the website of Ichigo Hotel REIT  Investment Corporation )

  • Unit Price and Trading Volume 拡大

  • Unit Yield, Sector Average and Overall Average 拡大

2022/03/17Update

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 Ichigo Hotel REIT Investment Corporation
Abbreviation IHR
Securities code 3463(JPX)
Listing date 2015/11/30
Time elapsed 6.69 year
Closing months January / July
URL http://www.ichigo-hotel.co.jp/
Unitholders' capital 31,598Million JPY
Number of investment units authorized 254,974Unit
Investment amount per unit 123,925JPY
Rating
Type of assets under management Hotel REIT / Hotels:100%
Management target regions
Osaka17.8% Kyoto8.6% Tokyo17.3% Tokai13.8% Tyugoku・Shikoku17.2% Hokkaido7.5% Kyushu6.9% Nagoya5.1% Yokohama2.9% Kobe2.9%
Number of investment properties 23
Number of tenants 33
Total leasable floor space 102,350.13㎡

Investment Index Information

NAV per Unit 130,366JPY
Unit Price / NAV per Unit 0.72
FFO per Unit 2,736JPY
Unit Price / FFO per Unit 34.18
NOI Yield 2.85%
Implied Cap Rate 3.30%
Market capitalization 23,840Million JPY
Acquisition book value 51,913Million JPY
Term-end book value 51,916Million JPY
Appraisal value 53,215Million JPY
Interest-bearing liabilities 26,340Million JPY
LTV 44.35%
EV / EBITDA 29.11
Average maturity of borrowings 1.6year
Ratio of long-term fixed interest rate
Average occupancy rate 100%
Average age of buildings 27.18year

Investment Management Policies

  • It invests in hotels well positioned to benefit from the growing number of inbound tourists to Japan and other positive trends in the Japanese hotel business. It is currently prioritizing investments in stay-only hotels (as opposed to hotels which generate revenues from banquet halls, etc.) based on their income stability and ability to generate relatively steady revenue even in the event of adverse economic conditions.
    (Excerpt from the website of Ichigo Hotel REIT  Investment Corporation )

Other Related Corporations

Asset Manager Ichigo Investment Advisors Co., Ltd.
Update 2022/03/17 Capital 400Million JPY
Major Shareholders 100% Ichigo Inc. Other Shareholders

Account Settlement InformationFY2022-1(Million JPY)

11th 12th 13th
(most recent)
14th forecast 15th forcast
Revised Date Revised Date
Operating revenue 1,035 1,117 1,125 1,069 1,093
Operating income 409 465 472 421 451
Ordinary income 210 269 274 214 219
Net income 209 268 342 213 218
Short-term borrowings 7,000 7,450 9,250
Long-term borrowings 18,470 18,020 16,220
Investment corporation bonds 500 500 870
Total assets 58,381 5,899 59,393
Net assets 31,807 31,866 31,940
Distribution per unit 823
JPY/per Unit
1,055
JPY/per Unit
1,345
JPY/per Unit
838
JPY/per Unit
858
JPY/per Unit

Other Affiliated Companies

Asset custodian Mizuho Trust & Banking Co., Ltd. Accounting auditor Grant Thornton Taiyo 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
PAGE TOP
* This site has been created merely to provide information to investors, and not to solicit any person to make an investment with us.
* This site has been created using information that we have judged to be reliable, but we shall not guarantee its accuracy and/or integrity.
Note also that the information contained on this site is subject to change or deletion without prior notice.
* Numeric values, graphs, and other information contained on this site are based on past performance and situations, and do not constitute a suggestion or guarantee of any future market environments, investment performance, or so on.
We do not take fees, taxes, or other charges into consideration, and do not indicate any substantial investment performance.
* We shall not accept any responsibility for any damages, whether they be direct or indirect, that may be incurred as a result of the information contained on this site.
* Copyrights and other intellectual property rights to the information contained on this site shall, in principle, belong to us. No information contained on this site may be transferred or reproduced in any way without our consent.