Growth Strategy Going Forward

Aiming to Achieve Stable Growth over the medium to long term

In the 38th fiscal period, the Japanese economy had shown a pickup for some time, partly due to the government's policies like the "Go To" campaigns proving effective. Nevertheless, with the COVID-19 infection again spreading toward the end of the year and the government declaring the second state of emergency early in the new year, the outlook continues to be uncertain.
Under such circumstances, JPR conducted asset replacement by utilizing sponsor pipelines, in an effort to make its portfolio stronger. The properties owned by JPR also continued to operate at high occupancy. These helped us to record distridution per unit of 7,550 yen for the 38th fiscal period.
For the 39th fiscal period ending June 2021 and thereafter, the business environment is likery to remain unpredictable under the impact of COVID-19. In spite of this, JPR will continue its endeavors, to realize our stable growth over the medium to long term.

Change in Distribution per Unit and Medium-term Target

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(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 of stable growth

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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