Investor Presentaiton
[Reference] Timing of Compensating for
the Difference from the Minimum Guaranteed Rent
2022
2023
2024
2025
1 2
3
4 5 6 7 8 9 10 11 12 1 2
MORI TRUST Hotel Reit, Inc.
3
4
5
6 7 8
9 10 11 12 1 2 3 4 5 6 7
MORI TRUST REIT, Inc.
8
9
10 11 12 1 2 3
Fiscal period
13th FP
14th FP
43rd FP
44th FP
45th FP
46th FP
Shangri-La
Base month for rent
(Linked to hotel total revenue)
(i) (ii) (ii) (iv) | (v) | (vi) (i) (ii) (iii) (iv) (v) | (vi) (i) | (1) | (iii) (iv) | (v) | (vi) (i) (ii) (iii) (iv) | (v) | (vi)| (i) | (ii) | (ii) (iv)|(v) | (vi)
Recorded difference in
guaranteed minimum rent
(11/12-month equivalent)
Recorded difference
(1/12-month equivalent)
A
A
Recorded difference in
guaranteed minimum rent
(11/12-month equivalent)
A
(i) (ii) (iii) (iv) (v) (vi) (i) (ii) (iii) (iv) | (v)|(vi) (i) (ii) (iii) (iv) | (v) | (vi) (i) (ii) | (iii) | (iv) | (v) | (vi) (i) (ii) (ii) (iv)| (v) (vi)
Timing of receiving difference in
guaranteed minimum rent
Total rent for 12 months: 882,700,000 yen
Timing of receiving difference in
guaranteed minimum rent
↑
Recorded difference
(1/12-month equivalent)
Rent variable (monthly)
Criteria for applying minimum
guaranteed rent
CY Tokyo
Base month for rent
(Linked to hotel profit)
(93.5% quasi-co-ownership interest)
Rent variable (monthly)
Criteria for applying minimum
guaranteed rent
CY Shin-Osaka
Base month for rent
(Linked to hotel profit)
Rent variable (monthly)
Criteria for applying minimum
guaranteed rent
Base period for
Hilton Odawara
calculation of rent
(Linked to hotel profit)
| | (iii)|(iv)
(i) (ii) (ii) (iv)| (v) | (vi) (i) (ii) (iii) (iv)| (v)|(vi) (i) (ii) (iii) (iv)| (v) | (vi)| (i) | (ii) (iii)| (iv)| (v)| (vi) (i) (ii) (iii) (iv) | (v) | (vi) |
Recorded difference in
guaranteed minimum rent
(11/12-month equivalent)
Recorded difference
(1/12-month equivalent)
Recorded difference in
guaranteed minimum rent
(11/12-month equivalent)
A
Recorded difference
(1/12-month equivalent)
(i) (ii) (iii) (iv) | (v) (vi) (i) (ii) (iii) (iv) | (v) | (vi) (i) (ii) (ii) (iv)| (v) | (vi) | (i)|(11) (ii) (iv) | (v) (vi)|(i)|(ii) (iii) (iv)| (v) (vi)|
Timing of receiving difference in
guaranteed minimum rent
个
Timing of receiving difference in
guaranteed minimum rent
Total rent for 12 months: 310,000,000 yen
(Note 1)
| |
(i) (ii) (iii) (iv) | (v) | (vi)| (1) | (ii) (iii) (iv) | (v) (vi) (i) (ii) (iii) (iv)| (v)| (vi) (i) (ii) (ii) (iv) | (v) (vi) (i) | (ii) | (iii) | (iv)| (v) (vi) |
| (v)|(vi)||
(i)
Recorded difference in
guaranteed minimum rent
(11/12-month equivalent)
Recorded difference
(1/12-month equivalent)
Recorded difference in
guaranteed minimum rent
(11/12-month equivalent)
A
Recorded difference
(1/12-month equivalent)
A
(i) (ii) (ii) (iv) (v) (vi) (i) (ii) (ii) (iv)| (v) (vi) (i) (ii) (iii) (iv)| (v) | (vi) | (i) | (ii) | (iii) (iv) | (v) | (vi) (i) (ii) (iii) (iv) | (v)|(vi)|
Timing of receiving difference in
guaranteed minimum rent
Total rent for 12 months: 460,000,000 yen
(ii)
Timing of receiving difference in
guaranteed minimum rent
^
(iv)
(iii)
(i)
(50% quasi-co-ownership interest)
*Rent varies each fiscal period
Rent (The monthly amount is fixed during a fiscal period.) (i) (i) () ) (1) (1) (1) (1) (1) (1) (11) (ii) (ii) (i) (ii) (ii) (ii) (iii) (iv) (iv) (iv) (iv) (iv) (iv)
(Note 1) The amount of compensation under the minimum rent guarantee scheme is calculated by subtracting the sum of the rent for the period of 12 months from October each year to September the following year
(including the potion attributable to the quasi-co-owner MORI TRUST) from the minimum guaranteed rent of 310,000,000 yen for such period in accordance with the provisions of the lease agreement (the difference
calculated by such a calculation method is referred to as the "Difference from the minimum guaranteed rent"), and the Difference from the minimum guaranteed rent recorded on or after September 1, 2022 includes
the portion attributable to the quasi-co-owner MORI TRUST. Only 93.5%, which is the quasi co-ownership interest in the property, of the entire Difference from the minimum guaranteed rent recorded on or after
September 1, 2022 is recorded as operating income of MORI TRUST REIT.
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