Investor Presentaiton
Historical Financial Data
Daiwa House REIT Investment Corporation
Feb. 2015
Aug. 2015
Feb. 2016
Aug. 2016
(A)
Feb. 2017
Operating days
181 days
184 days
182 days
184 days
(B)
181 days
Change
(B-A)
-3 days
Operating Revenue
8,693 mil yen
9,356 mil yen
9,662 mil yen
9,691 mil yen
17,531 mil yen
7,840 mil yen
Operating Income
3,881 mil yen
3,925 mil yen
3,947 mil yen
3,959 mil yen
5,567 mil yen
1,607 mil yen
-4 mil yen
Gain/loss on sale of property
Ordinary Income
3,081 mil yen
3,146 mil yen
3,177 mil yen
3,214 mil yen
4,474 mil yen
-4 mil yen
1,259 mil yen
Net Income
3,080 mil yen
3,145 mil yen
3,177 mil yen
3,213 mil yen
4,393 mil yen
1,179 mil yen
DPU
8,691 yen
Number of investment units issued
373,870 units
4,460 yen
747,740 units
4,501 yen
747,740 units
4,537 yen
747,740 units
4,800 yen
1,519,280 units
Payout ratio
105.5%
106.0%
106.0%
105.6%
166.0%
263 yen
771,540 units
60.4 p.p.
Total Assets
238,730 mil yen
258,400 mil yen
258,590 mil yen
258,266 mil yen
604,142 mil yen
345,875 mil yen
Net Assets
111,455 mil yen
111,352 mil yen
111,194 mil yen
111,042 mil yen
330,304 mil yen
219,262 mil yen
Unitholders' Capital
61,703 mil yen
61,703 mil yen
61,703 mil yen
61,703 mil yen
61,703 mil yen
Capital Surplus
28,241 mil yen
28,241 mil yen
28,241 mil yen
28,241 mil yen
Interest-bearing debt
122,463 mil yen
141,663 mil yen
141,663 mil yen
141,663 mil yen
247,667 mil yen
253,163 mil yen
219,425 mil yen
111,500 mil yen
LTV (Including goodwill)
51.3%
54.8%
54.8%
54.9%
41.9%
-13.0 p.p.
48.1%
LTV (Excluding goodwill)
Net Assets per unit (Note 1)
149,056 yen
148,918 yen
148,707 yen
148,504 yen
217,408 yen
68,904 yen
NAV per unit (Note 1)
177,581 yen
185,450 yen
191,454 yen
195,377 yen
248,462 yen
53,085 yen
FFO per unit (Note 1) (Note 2)
6,385 yen
6,752 yen
6,948 yen
7,024 yen
6,469 yen
-555 yen
(Note 1) "Net Assets per unit", "NAV per unit" and "FFO per unit" for the period ended February 2015 are stated using the per unit figures divided by two, factoring the impact of two-for-one unit split effective as of March 1, 2015.
(Note 2) FFO per unit: (Net income + depreciation + amortization + amortization of investment corporation bond issuance costs + amortization of trademark rights + amortization of software +/- loss or gain on sale of property
+/- extraordinary loss or gain) / number of investment units issued
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