Investor Presentaiton
JPR
[Reference] Forecasts of Rent Revenue - Real Estate and Expenses Related to Rent
Business for the 23rd Fiscal Period
Work to further improve NOI as well as decrease non-operating expenses, despite projected period-on-period decrease in
profits related to rent business due to lack of property and city planning taxes to be included in the deductible acquisition cost
of new property
(JPY mn)
22nd Fiscal Period Forecast 23rd Fiscal Period Forecast
Jul. 1, 2012 - Dec. 31, 2012
Change from the 22nd
Fiscal Period Forecast
Jan. 1, 2013 - Jun. 30, 2013
Amount
%
Amount
%
Amount
%
1. Rent revenues
• Properties owned at end of 21st period:
+ 134 mn yen
Increase by new move-ins:
+223 mn yen
Rental revenues
Other rental revenues
Rent revenue - real estate (1)
12,132
94.3%
12,342
94.7%
210
1.7%
727
5.7%
687
5.3%
-39
-5.4%
12,859 100.0%
13,030
100.0%
170
1.3%
Property and other taxes
1,025
8.0%
1,821
14.0%
796
77.7%
Decrease by cancellation:
Increase/decrease by contract revision:
• Properties acquired in 22nd period:
(Note) The increase/decrease includes variations in 23rd period due to factors
changed in 22nd period)
- 139 mn yen
+41 mn yen
+76 mn yen
Other expenses related to rent business
2,652
20.6%
2,449
18.8%
-203
-7.7%
Outsourcing expenses
510
4.0%
500
3.8%
-9
-1.9%
2. Other rental revenues
Utilities expenses
817
6.4%
763
5.9%
-54
-6.6%
■ Properties owned at end of 21st period
-38 mn yen
Casualty insurance
30
0.2%
30
0.2%
0
0.4%
Properties acquired in 22nd period:
- 1 mn yen
Repairs and maintenance
379
2.9%
259
2.0%
-119
-31.6%
Property management fees
214
1.7%
221
1.7%
6
3.2%
3. Property and other taxes
Management association accounts
565
4.4%
524
4.0%
-41
-7.3%
■ Properties owned at end of 21st period:
Others
136
1.1%
151
1.2%
15
11.4%
Otemachi 1-6 Plan (tentative name) (land with land leasehold)
Depreciation
1,830
14.2%
1,852
14.2%
21
1.2%
■ Properties acquired in 22nd period:
+ 762 mn yen
+756 mn yen
+33 mn yen
Expenses related to rent business (2)
5,508
42.8%
6,124 47.0%
615
11.2%
Profits ((1) (2))
7,350
57.2%
6,905
53.0%
-444
-6.0%
4. Other expenses related to rent business
Net operating income (NOI)
9,181
71.4%
8,758
67.2%
-422
-4.6%
■ Properties owned at end of 21st period:
-215 mn yen
Capital expenditure
1,188
9.2%
926
7.1%
-262
-22.1%
Net cash flow (NCF)
7,992
62.2%
7,832
60.1%
-160
-2.0%
(Note) Amounts have been rounded down to the nearest specified unit and percentages have been rounded to the first decimal place.
Utilities expenses:
Repairs and maintenance:
Management association accounts:
- 119 mn yen
-41 mn yen
■ Properties acquired in 22nd period:
+12 mn yen
-58 mn yen
Assumptions for the 23rd Fiscal Period Forecast
■Assets owned: Total of 59 properties (58 properties owned as of the end of the
21st fiscal period + 1 property acquired in the 22nd fiscal period)
■Average Monthly Occupancy during Period: 95.8% (Assumes some new
contracts, etc. in addition to the assumptions for the 22nd fiscal period)
The forecasts of rent revenue - real estate and expenses related to the rent
business for the 23rd fiscal period were calculated based on the left
"Assumptions for the 23rd Fiscal Period Forecast." Actual rent revenue - real
estate, expenses related to the rent business, profits, net operating income
(NOI), net cash flow and other figures may change as a result of the acquisition
of new properties or the sale of owned properties, etc.
Japan Prime Realty Investment Corporation
5. Depreciation
■ Properties owned at end of 21st period:
■ Properties acquired in 22nd period:
+6 mn yen
+15 mn yen
8View entire presentation