Investor Presentaiton
Financial policy ~Stable funding~
Steadily working on securing stable funding in preparation for potential changes in
the surrounding environment.
The 4 pillars of our stable funding
(=A structure that enable us to receive funding at any time)
Diversification of lenders
and sources of funding
Mainly loans from financial
institutions
Inconsideration of refinancing risk,
raising funding in diverse ways,
including REIT bonds, making use
of AEON Group's strong publicity
Sources of funding
Stabilization of
funding cost
► Pursuing cost reductions by issuing
long-term low interest REIT bonds
▶REIT bonds are controlled within
40% of total interest-bearing debt
(upper limit is 50%)
Lower cost of funding
LTV control
Range of 43-47%
►Ability to raise debt allows flexible
property acquisitions
Decentration of
maturity dates
►Focusing on debt with duration
of 5-7 years, in order to control
market risk
Taking advantage of favorable
environment, and securing long-
term fixed interest debt
(IPO)
(As of the end of 21st FP)
(IPO)
(As of the end of 21st FP)
15▸
26
Relationships with
financial institutions
(IPO)
100%
Loans
(As of the end of 21st FP)
Loans
Wholesale bonds
Retail bonds
Joint money trusts
Green financing
Sustainability
financing
0.92% 0.78%
Ratio of REIT bonds
27.1%
Wholesale bonds ¥6.0bn
Retail bonds ¥45.0bn
LTV
(excluding deposits) (including deposits)
41.6%
44.8%
Available capacity
(up to LTV 50%)
Initial duration of debt
(IPO)
(As of the end of 21st FP)
5.4yrs ▸
7.4yrs
Long-term debt ratio
95.1%
(IPO)
(As of the end of 21st FP)
¥22.0 bn ¥47.0 bn
Fixed interest debt ratio
92.8%
ÆON REIT Investment Corporation
32
32View entire presentation