MFLP Mitsui Fudosan Logistics Park Inc. Development / Operation Track Record
1
-6.
14th Fiscal Period (Ended July 2023) P/L
MFLP Mitsui Fudosan
Logistics Park Inc.
13th fiscal
period
Actual
14th fiscal
period
Forecast
14th fiscal
period
Main breakdown of difference
Actual
(Mar. 14,
Difference
(b)-(a)
(a)
(b)
(Unit: million yen)
2023)
Operating revenue
Operating revenue
10,960
11,587
11,478
517
Increase due to a property acquired in the 14th FP
(MFLP Osaka Katano)
+614
Increase in utilities charge
-101
Rental expenses (excluding depreciation)
2,563
2,759
2,668
104
(excluding a property acquired in the 14th FP)
ΝΟΙ
8,396
8,827
8,810
413
Increase in solar power generation facilities rent revenue
(excluding a property acquired in the 14th FP)
+56
Depreciation
2,707
2,985
2,984
276
Decrease in other operating revenue
-52
Net rental revenues
5,688
5,842
5,825
136
Operating expenses
General and administrative expenses, etc.
1,181
1,257
1,221
37
Increase due to a property acquired in the 14th FP
(MFLP Osaka Katano)
+433
Operating income
4,504
4,584
4,604
99
Expensing of fixed asset tax and city planning tax for
properties acquired in the 12th FP
+131
Non-operating income
3
2
-1
(MFLP Yachiyo Katsutadai, Hiratsuka II and Osaka I)
Non-operating expenses
302
350
344
42
Decrease in repair expenses
-104
(excluding a property acquired in the 14th FP)
Ordinary income
Profit (Net income)
4,206
4,234
4,261
55
Decrease in utilities expense
-59
(excluding a property acquired in the 14th FP)
4,205
4,233
4,260
55
Increase in asset management fees
+32
Decrease in other operating expenses
-14
FFO
6,913
7,218
7,244
331
FFO Payout ratio
70%
70%
70%
Total number of investment units (unit)
576,000
576,000
576,000
Non-operating expenses
Increase in interest expenses
Decrease in other non-operating expenses
+69
-26
Distribution per unit (DPU) (yen)
8,401
8,772
8,804
403
Of which,
7,301
7,349
7,396
55
95
<Reference>
Distributions of earnings per unit (EPU) (yen)
Formula for distribution per unit based on FFO*
FFO
Profit (Net income)
+
Depreciation, etc.
...①
Of which,
1,100
1,423
1,408
308
Distributions in excess of earnings per unit (yen)
Source of funds for
distributions
1 FFO
Upper limit 75%
...②
Distributions in excess of earnings expressed as
23.4%
a percentage of depreciation
* For further details, please refer to [Method of calculation of cash distribution based on FFO] in the Notes on Matters Stated in this Document on p.52-54
Distributions per unit =
27.5%
27.2%
②Source of funds for
distributions
÷
Number of investment
units issued and
outstanding
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