Investor Presentaiton
JPR
Changes in Rent Revenue and Unit Rent
Rent revenue on same-store basis and average unit rent continued on downward trends, impacted by reductions in
contract rents and other factors
Changes in Rent Revenue (from Properties Owned as of the End of the 16th Period)
(JPY mn)
14,000
(+3.1%)
(+2.6%)
(+0.9%)
12,000
11,014
10,684
617
10,731
10,825
(+1.6%)
10,996
(+5.7%)
11,626
Entire portfolio
754
10,000
967
1,243
1,433
2,339
Properties
acquired or sold
since the 16th
fiscal period
8,000
7,125
7,315
6,847
6,000
6,672
6,662
(+2.7%)
(-6.4%)
(-2.6%)
(-0.1%)
6,414
(-3.7%)
Office properties
owned as of the
end of the 16th
fiscal period
4,000
2,916
(-1.0%)
2,000
2,941
2,944
(0.1%)
2,909
(-0.2%)
2,900
(-0.3%)
0
16th Period
17th Period
18th Period
19th Period
20th Period
2,872
(-1.0%)
21st Period
Retail properties
owned as of the
end of the 16th
fiscal period
■Rent revenue of entire portfolio increased significantly as a result of new
property acquisition
■Office buildings owned as of the end of the 16th fiscal period decreased
period-on-period as a result of declines in occupancy rate
■Concerning retail properties, since the 16th fiscal period, none have been
acquired or sold and rent revenue has generally been stable, serving to
support entire portfolio
(Note 1) Values for the entire portfolio are the sum of rents, common charges, parking rates and other
revenues (excluding such variable revenues as incidental income) for all properties owned in
respective periods (including properties sold during the respective periods). Values for the office
properties owned as of the end of the 16th fiscal period and Retail properties owned as of the end
of the 16th fiscal period are the sum of rents, common charges, parking rates and other revenues
(excluding such variable revenues as incidental income) for properties owned as of the end of the
16th fiscal period but excluding those sold by the end of the 21st fiscal period. Furthermore, BYGS
Shinjuku Building, of which JPR additionally acquired the remainder of common areas at the end
of the 18th fiscal period, has been excluded from the Office properties owned as of the end of the
16th fiscal period and included in the Properties acquired or sold since the 16th fiscal period
category.
(Note 2) Values have been rounded down to million yen, and the rates of period-on-period change have
been rounded to the first decimal place.
Changes in Average Rent of Office Buildings (for Properties Owned as of the End of the 16th Period)
Average unit rent (including
common charges; thousand
yen/tsubo)
20.0
18.8
(-0.3%)
18.7
(-1.5%)
18.5
(-3.1%)
17.9
(-2.2%)
17.5
18.0
(-2.8%)
17.0
(+0.9%)
(-1.2%)
(-1.0%)
15.2
15.4
15.2
16.0
15.0
(-0.9%)
14.9
(-2.7%)
14.5
Entire office
buildings owned at
end of 16th period
Entire portfolio
14.0
15.0
14.9
14.6
14.4
(-0.8%)
14.2
(-1.9%)
(-1.7%)
(-1.4%)
12.0
13.8
(-2.9%)
10.0
10.0
8.0
9.9
(-1.8%)
9.8
9.9
(-0.4%)
(+0.9%)
9.9
(0.0%)
9.7
(-1.6%)
■Average unit rent of entire portfolio continues to be on downward trend,
albeit modest
■Degree of decrease for office buildings owned as of the end of the 16th
fiscal period grew to -2.8% period-on-period for the 21st fiscal period
■Average unit rent of retail properties remained relatively stable
21st Period
Entire properties
owned at end of
16th period
Entire retail
properties owned at
end of 16th period
Japan Prime Realty Investment Corporation
(Note 1) Values for Entire portfolio are the average unit rent (monthly rent revenue per tsubo of occupied
spaces including common charges at end of each fiscal period) for all properties owned in
respective periods (including properties sold during the respective periods). Values for Properties
Owned as of the End of the 16th Period, Office properties owned as of the end of the 16th fiscal
period and Retail properties owned as of the end of the 16th fiscal period are the average unit rent
(monthly rent revenue per tsubo of occupied spaces including common charges at end of each
fiscal period) for properties owned as of the end of the 16th fiscal period but excluding those sold
by the end of the 21st fiscal period. Furthermore, BYGS Shinjuku Building, of which JPR
additionally acquired the remainder of common areas at the end of the 18th fiscal period, has
been excluded from the Properties Owned as of the End of the 16th Period and the Office
properties owned as of the end of the 16th fiscal period categories.
(Note 2) The period-on-period figures have been rounded to the first decimal place.
00
0.0
16th Period
17th Period
18th Period
19th Period
20th Period
15View entire presentation