MFLP Mitsui Fudosan Logistics Park Inc. Development / Operation Track Record
Basic Strategy and Four Roadmaps 2
Leveraging Growth in Asset Size as Main Driver of Steady DPU Growth
MFLP Mitsui Fudosan
Logistics Park Inc.
Fiscal 2016 - 2022
1st 13th fiscal periods
5th follow-on offering
Fiscal 2023
Fiscal 2024 and after
14th fiscal period
15th fiscal period
16th fiscal period
17th fiscal period and after
January 2022
6th follow-on offering
July 2023
Asset Size
30 properties
27 properties
Aim to acquire properties
25 properties
24 properties.
24 properties
21 properties
297.6
billion yen
342.2
billion yen
342.2
billion yen
358.7
billion yen
372.4
billion yen
389.8
billion yen
agreement"
in a continuous manner,
focused on high-quality properties
Aim for further
500.0 expansion of
covered by "Right of first look and billion yen asset size
preferential negotiation rights
Medium-term
asset size target
9 properties
75.5
billion yen
Average annual growth rate since listing +24.5%
LTV
End of 11th FP
(January 31, 2022)
End of 12th FP
(July 31, 2022)
End of 13th FP
(January 31, 2023)
End of 14th FP
(July 31, 2023)
End of 1st FP
24.5%
LTV-based capacity for
acquisitions(LTV to 50%)
33.1%
36.5%
35.9%
38.6%
End of 15th FP
(forecast)
(January 31, 2024)
36.6%
End of 16th FP
(forecast)
(July 31, 2024)
39.4%
Fund procurement and LTV
management optimal for
size of acquired assets
40% to 50%
Medium-to
long-term
stabilized LTV level
100.0
billion yen
91.0
billion yen
95.0
billion yen
80.0
billion yen
14th FP
12th FP
13th FP
97.0
billion yen
15th FP
(Forecast)
80.0
billion yen
16th FP
(Forecast)
11th FP
7,895
yen
8,353
yen
8,401
yen
8,804
yen
8,781
yen
9,151
yen
Distribution per unit (DPU)
1st FP
5,198
yen
Forecast annual growth rate (per year) (include 14th-16th fiscal period) +7.8%
Continuous DPU growth
through leverage effects, etc.
Aiming for
further DPU
growth
Expansion of market cap
through public offerings, etc.
Inclusion in major indices
Aim for
Enhancement of
investment
liquidity
Market Cap*
End of 11th FP
End of 12th FP
End of 14th FP
After 6th follow-on offering
(Forecast)
After
anticipated
acquisitions
End of 13th FP
End of 1st FP
306.7
billion yen
301.2
billion yen
261.2
billion yen
291.4
billion yen
301.2
billion yen
423,819 yen
450,386 yen
76.1
billion yen
273,318 yen
NAV per unit
Average annual growth rate of NAV per unit from January 31, 2017 +8.4%
* For further details, please refer to [Basic Strategy and Four Roadmaps] in the Notes on Matters Stated in this Document on p.52-54
463,661 yen
478,717 yen
481,047 yen
20
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