Investor Presentaiton
一期一会|
ICHIGO
Organic Growth: New Tenants at Higher Rents
Two-Thirds of New Tenants at Higher Rents
New Tenant Rent vs. Previous Tenant Rent
(Office, Leased Area Basis)
Impact on Monthly Rental Income From Tenant Turnover
(Office)
Downward
☐ Flat
Upward
Downward:
10 new tenants
Average
Decrease:
-38.2%*
(JPY thousand)
19.9%
Upward
Downward
Decrease Due to Large-Scale Retail Tenant
at the Ichigo Sakae Building
26.1%
26.0%
32.4%
12.8%
15.6%
6.2%
6.4%
Flat: 8 new tenants
67.7%
67.6%
64.5%
Upward:
38 new tenants
54.8%
Average
Average
Average
Average
Increase
Increase
Increase
Increase
+21.5%
+18.2%
+13.7%
+14.5%
Apr 2022
Oct 2022 Apr 2023
Oct 2023
+2,204
-6,164
+1,197
+2,918
4,503
+3,966
+1,745
3,412
3,552
+2,899
Rent
Change
-633
-1,154
-2,215
-2,298
-9,420
-10,131
Apr 2022
Oct 2022
Apr 2023
Oct 2023
Apr 2024*
*Oct 2023 average decrease excluding large-scale lease
termination at Ichigo Sakae Building is -10.9%
*Apr 2024 reflects leases in place as of December 5, 2023.
Ichigo Investment Advisors Co., Ltd. Ichigo Office REIT Investment Corporation All rights reserved.
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