MFLP Mitsui Fudosan Logistics Park Inc. Development / Operation Track Record
1 -2. Internal Growth 1
Steady and stable property management
Status of lease signings and occupancy rates
(thousand mi)
500
200
100
Signed
Spoken for
Unsigned
449
*
Figures in the graph show unsigned floor area (includes spoken for). Figures in brackets
include floor area for signed leases.
186
167
168
(83)
3
(132)
0
83
(29)
10
160
154
72
9
0
13th FP 14th FP
(23/1) (23/7)
15th FP
(24/1)
16th FP
(24/7)
17th FP
(25/1)
18th FP
(25/7)
19th FP 20th FP
(26/1)
(26/7)
21st FP 22nd FP 23rd FP
(27/1) (27/7) (28/1)
After
24th FP
Status of occupancy rate as of each FP end
99.8%
99.8%
Status of Lease Signings
132,361m 132,361m
3.5%
27.8%
99.7% (Forecast)
Unsigned
Spoken for
100%(Forecast)
New leases Rent unchanged
Re-lease
Rent raised
83,359m
4.0%
80,046m
83,964m
5.5%
6.8%
96.5%
72.2%
100%
90.5%
93.2%
29,484m
12.8%
25,711m
6.1%
13th FP
(23/1)
14th FP
(23/7)
21.3%
66.0% 93.9%
15th FP
(24/1)
16th FP
(24/7)
* The above graph shows figures for leased floor area for MFLP-REIT properties after new acquisitions (excluding MFIPS) based on
leases signed as of July 31, 2023.
MFLP Mitsui Fudosan
Logistics Park Inc.
Impact of rising electricity costs
■Breakdown of electricity costs by facility type (based on floor area)
Majority of electricity costs borne by tenants (MFLP-REIT only bears electricity
costs for common areas in multi-tenant properties). MFLP-REIT's exposure to
electricity costs is limited.
Multi-tenant properties*
15 properties
Dedicated areas
/Tenant indirectly responsible
(MFLP REIT pays provider on behalf of
tenants) about 83%
Common areas /
MFLP REIT bears costs for about 17%*
Single-tenant properties*
BTS 9 properties
Tenant directly
responsible
(Tenant pays
provider directly)
MFLP REIT's limited exposure to
electricity costs
* For further details, please refer to [Multi-tenant properties/Single-tenant properties/BTS] in the Notes on Matters Stated in
this Document on p.52-54.
* The ratio of electricity costs for common areas to electricity costs for multi-tenant properties (excluding MFLP Osaka
Katano) in the 13th and 14th fiscal periods.
Factors depressing utilities expense margin
Electricity usage
12th FP
13th FP
14th FP
(YoY)
No. of properties
15
15
15
Dedicated tenant area
100
120.0
94.6
(- 5.4%)
89.5
Common area
100
87.8
(-10.5%)
*The electricity consumption of multi-tenant properties (excluding MFLP Osaka Katano) is indexed based on the 12th fiscal period.
1 Tenant area usage down on energy saving measures
+
2 Common area usage also reduced but offset by inflation
impact on electricity unit prices
Utilities expense margin down YoY on factors 1 and 2
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