Growth Strategy Going Forward

Aiming to Achieve Stable Growth over the Long Term

For the 31st fiscal period, JPR generated good financial results thanks to an increase in revenues through acquiring three properties in Central Tokyo, as well as internal growth through raising of rents upon tenant replacement and other measures.
Distribution per unit came to 7,213 yen, a record high since listing and up 165 yen from the previous fiscal period, marking the seventh straight fiscal period with a period-on-period increase.
For the 32nd fiscal period ending December 2017, distribution per unit is forecast to be 7,220 yen, marking the eighth straight fiscal period with a period-on-period increase, as continuous endeavors will be made to raise rents, and maintain and enhance occupancy rates amid an overall increase in contract rents due to strong demand for office spaces.

Growth in Distribution per Unit (DPU)


(Note)Distribution per unit as medium-term target is a management target set by TRIM, and there is no guarantee that the figure is achieved.

Factors That Shifted Distribution per Unit to an Upward Trend

Quality of the Portfolio
  • Portfolio centering on office properties in Tokyo, featuring both growth potential and stability
  • Quality of individual properties exerting competitiveness
Vigorously Selective Investment in Prime Properties
  • Vigorously selective investment that focuses on location and price
  • Dynamic investment utilizing acquisition capacity
  • Continuous endeavors to reinforce the pipelines
Leasing Focused on Rents
  • Strategic utilization of rent-free periods and value enhancement measures
  • Reinforcement of endeavors to raise new contract rents and upward revision of rents upon contract renewal
Strong Financial Base
  • Financial strategy based on lengthening of loan periods, diversifying repayment dates and borrowing funds at fixed interest rates
  • Appropriate control of debt costs

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