Investor Presentaiton
3-3. 8th Fiscal Period (Ending July 2020) Earnings Forecast
Mitsui Fudosan
MFLP Logistics Park Inc.
7th period
Actual
8th period
Forecast
(a)
(b)
Difference
(b)-(a)
Main breakdown of difference
<Reference>
9th period
Forecast
(Unit: million yen)
Operating revenue
5,064
6,381
1,317
Operating revenue
6,665
Increase due to properties acquired in the 8th FP
(MFLP Prologis Park Kawagoe (50%), Hiroshima I, Sakai (80%))
+1,291
Operating expenses
2,748
3,600
852
3,735*2
Of which, Depreciation
1,326
1,714
387
Increase in photovoltaic power generation facilities rent
revenue (excluding properties acquired in the 8th FP)
Decrease in other operating revenue
+42
- 16
1,745
(those related to properties only)
Operating income
2,315
2,780
464
2,929
Operating expenses
Non-operating income
26
33
7
Increase due to properties acquired in the 8th FP
(MFLP Prologis Park Kawagoe (50%), Hiroshima I, Sakai (80%))
+565
Expensing of fixed asset tax and city planning tax
for properties acquired in the 6th FP
+155
Non-operating expenses
103
186
82
62
(MFLP Hino (10%), Tsukuba (40%), Inazawa, Atsugi II, Fukuoka I,
MFIP Inzai (80%))
127
Increase in asset management fee
+79
Increase in other operating expenses
+52
Ordinary income
2,238
2,627
389
2,802
Profit (Net income)
2,237
2,626
389
Non-operating expenses
2,801
Interest expenses
+24
Offering costs associated with issuance of
+27
investment units
Distribution per unit (DPU) (yen)
6,584
6,890
306
Amortization of investment unit issuance
7,217
+15
expenses
Other non-operating expenses
+16
Of which,
5,905
5,956
51
6,353
Distribution of earnings per unit (EPU) (yen)
Of which,
Distribution in excess of earnings per unit
(yen)
679
934
255
*1 The simple average of the occupancy rates as of
the end of each month in each fiscal period is
indicated.
864
Distribution in excess of earnings
19.4%
24.0%
expressed as a percentage of depreciation
Average occupancy rate during the period*1
99.4%
99.7%
*2 The fixed asset tax and city planning tax (170 million
yen) for the properties acquired in the 8th FP(MFLP
Prologis Park Kawagoe 50%, MFLP Hiroshima I,
MFLP Sakai 80%) is not included and will be recorded
in and after the 10th FP.
21.8%
100%
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