Investor Presentaiton
2-6 2H/2016 (31st Period) Forecast
NBF
Men Building Fund
■Results Forecast
1H/2016
(Actual)
2H/2016
(Forecast)
PoP Change
1H/2017
(Reference)
PoP Change
(million yen)
Summary of PoP change for 2H/2016
Total operating revenues:
(million yen)
– 1
(30th Period)
(31st Period)
Amount Percentage
Total operating revenues
Pperating revenues
35,671
35,669
-1 -0.0%
(32nd Period)
35,614
Amount Percentage
Rental revenues
+776
-54
-0.2%
34,719
35,669
950
2.7%
35,614
-54
-0.2%
4 acquisitions, 2 dispositions
+440
Rental revenues
31,748
32,524
776
2.4%
32,660
135
0.4%
72 existing properties
+336
Other revenues related to property leasing
2,971
3,144
173
5.8%
2,954
-190
-6.1%
Profits from dispositions
951
-951
Other revenues related to property leasing
+173
Total operating expenses
20,660
21,368
708
3.4%
21,362
-6
-0.0%
Incidental income (seasonal factors, etc.).
+223
Operating expenses
19,155
19,858
702
3.7%
19,847
-10
-0.1%
Rental expenses (excl. depreciation and amortization)
12,080
12,679
598
5.0%
12,617
-61
-0.5%
Profits from dispositions
-951
Excluding 30th Period profits from dispositions (2 properties)
Depreciation and amorization
7,074
7,178
104
1.5%
7,229
51
0.7%
Asset management fees
1,264
1,269
4
0.4%
1,268
0
-0.1%
Total operating expenses:
+708
Selling, general and administrative expenses
240
241
0
0.3%
246
5
2.1%
Rental expenses
+702
Operating income
15,011
14,301
-709 -4.7%
14,252
-48
-0.3%
Net non-operating income and expenses
-2,202
-2,101
101
-2,038
62
Utilities
+189
Non-operating income
3
4
0
4
-
Property management expenses (new property acquisitions, etc.)
+173
Non-operating expenses
2,205
2,105
-100
Ordinary income
12,808
12,199
-4.6%
-608 -4.8%
2,042
12,214
-62
-3.0%
14
0.1%
Repair and maintenance expenses
+213
Extraordinary income(loss)
Depreciation and amortization (new property acquisitions, etc.)
+104
Income before infome taxes
12,808
12,199
-608
-4.8%
12,214
14
0.1%
Income taxes
0
0
0
0
0
Non-operating income and expenses:
+101
Net income
12,808
12,199
-608 -4.7%
12,214
14
0.1%
Non-operating expenses
-100
Reserve for advanced depreciation
-951
951
Payment of dividends
11,856
12,199
343
2.9%
12,213
Interest expense
-98
14
0.1%
Distribution per unit(JPY)
8,397
8,640
243
2.9%
8,650
10
0.1%
Average occupancy rate during the period (%)
97.9
98.2
0.3
Units issued and outstanding at period end
1,412,000
1,412,000
98.2
0.0
1,412,000
Reference
NOI from property leasing activities
22,638
22,990
352
Operating income (excl. profits from dispositions)
14,059
14,301
242
Net income (excl. profits from dispositions)
11,856
12,199
342
1.6%
1.7%
2.9%
22,997
7
0.0%
14,252
12,214
-48
-0.3%
2H/2016 (31st Period) forecast data and 1H/2017 (32nd Period) reference
data are based on current assumptions. Actual results may differ if conditions
change. Also, distributions are not guaranteed.
14
0.1%
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