Investor Presentaiton
Notes (1)
P.12 External growth (3/3) - Development status of AEON MALL Ota expansion building ~
(Note 1) The transfer of title, rights and obligation under the contract for the construction of the extension building to the Investment Corporation has not been determined
and there is no guarantee that the acquirement will be carried out by the Investment Corporation. In addition, this preferential negotiation right is a right held by the
Investment Corporation based on the floor expansion development agreement, and the Investment Corporation is not obligated to transfer the status or rights and
obligations under the contract for the construction of the expanded building
(Note 2) Based on press release issued by AEON MALL CO., Ltd. dated July 29, 2022.
(Note 3) "Site of expansion building" is an image only and does not accurately represent the area or shape of the actual building.
P.13 Utilization of abundant cash-on-hand
(Note 1) Depreciation amount for "Before properties acquisition" shows the sum of the expenses for the 19th FP actual and 20th FP actual, which is before the acquisition
carried out on Feb. 1, 2023, and "After properties acquisition" shows the sum of the expenses for the 21st FP actual and 22nd FP forecast.
(Note 2) Assumes an investment unit price 0.8 times the NAV per unit of 151,071 yen as of the end of the 21st FP.
(Note 3) Calculated using approx. 2.2 bn yen of loan repayment, and approx. 2.7 bn yen of own investment unit acquisition and cancellation.
P.17 Finance
Upgrade of external credit rating ~
(Note 1) Depreciation shows the sum of the expenses for the 2nd FP actual and 3rd FP actual, and the sum of the expenses for the 21st FP actual and the 22nd FP forecast
respectively.
(Note 2) "Loan capacity" is the approximate amount which can be borrowed if LTV (including security deposit) is raised to 50%. The said amount does not guarantee or
promise that the Investment Corporation will actually be able to procure the said amount of funds.
P.18 Sustainability ~ Main topics of the 21st FP ~
(Note 1) 4 or higher refers to "4 or 5 stars in the DBJ Green Building certification", "Rank A or S in the CASBEE Real Estate Evaluation ","4 or 5 stars in BELS". 3 or
higher refers to "3, 4 or 5 stars in the DBJ Green Building certification", "Rank B+, A or S in the CASBEE Real Estate Evaluation", "3, 4 or 5 stars in BELS" (as of the
end of Jul 2023).
(Note 2) The ratio of properties with third party certifications is calculated by dividing the total rentable floor area of certified properties by that of all properties owned in
Japan. Third party certification refers to the DBJ Green Building certification, CASBEE certification and BELS certification, etc.
(Note 3) MSCI is a financial services provider based in New York, USA. MSCI provides various tools to assist in investment decision making to institutional investors around
the world, including asset managers, hedge funds and pension funds. The MSCI ESG rating analyzes how well companies are managing risks related to the
Environment, Social and Governance, and its 7 ratings range from the highest AAA to the lowest CCC.
P.19 Summary as of 21st FP (Jul. 2023)
(Note 1) Total acquisition price excluding expenses incurred when acquiring subject real estate etc. (brokerage fee, tax, etc.).
(Note 2) Unrealized gain is calculated by deducting the book value as of the end of the 21st FP from the appraisal value as of the end of the 21st FP.
P.20 Stable growth during the pandemic of COVID-19
(Note 1) "Transition of end tenant sales" represents the comparison rate of sales at domestic commercial facilities owned by the Investment Corporation as of the end of
Jan. 2023 and the sales rate for each Jul. FP are calculated by comparing the record with FP Jul. 2019, and rate for each Jan. FP are calculated by comparing with
FP Jan..
(Note 2) Net sales of end tenants of Jun. 2023 and Jul. 2023 are calculated based on preliminary figures received through interviews with each master lessee.
ÆON REIT Investment Corporation
23View entire presentation