Investor Presentaiton slide image

Investor Presentaiton

Appraisal Valuation Appraisal values increased for approximately 80% of properties, and unrealized gains grew to 218.2 billion yen (+¥24.6 billion period-to-period). Appraisal valuation by sector Period-to-period analysis (Note 1) Feb.2022 Fiscal Period End Aug.2022 Fiscal Period End CAP Feb.2022 Aug.2022 Number of Appraisal Value Unrealized Number of Gain(loss) Appraisal Value Unrealized Decrease 218 249 Gain(loss) Properties Properties (\mln) (\mln) (\mln) (\mln) Flat 78 48 Office 67 543,030 66,944 68 559,170 78,127 Increase 0 Retail 50 200,906 24,440 49 194,973 23,284 Logistics 23 270,460 65,779 23 278,090 74,293 Appraisal Value Feb.2022 Aug.2022 Increase 214 237 Residential 155 226,582 36,248 157 241,465 42,272 Hotels 2 6,250 -98 2 6,260 -60 Flat 50 37 Other 1 5,450 313 1 5,460 323 Decrease 33 23 Total 298 1,252,678 193,628 300 1,285,418 218,241 (Note 1) Excluding acquisitions and dispositions during the period Amount of change in unrealized gain and rate of change in unrealized gain Change in weighted average cap rates by sector (Note2) (\mln) 350,000 Office Retail (%) 4.6 Logistics Residential Average 20.5% 300,000 4.4 4.4 18.3% 4.4 16.2% 250,000 14.5% 14.9% 13.9% 4.2 4.1 IIIIII 200,000 4.0 4.0 4.0 4.1 4.1 4.1 150,000 4.0 4.0 3.9 3.8 3.9 100,000 3.6 50,000 3.7 3.6 0 3.4 Feb-20 Aug-20 Feb-21 Feb-20 Aug-21 Feb-22 Aug-22 Aug-20 Feb-21 Aug-21 Feb-22 Aug-22 (Note2) The figures are weighted averaged a direct capitalization rate of each property (excluding land) by capitalization approach price. 25
View entire presentation