Investor Presentaiton
Acquisition
date
Acquisition
price
Appraisal Summary for the End of 7th Fiscal Period
End of
6th fiscal period
(End of Jul. 2019 (a)
End of
7th fiscal period
(End of Jan. 2020) (b)
Book
value at
end of 7th
fiscal
Appraisal
*1
period
CR
Appraisal
value
value
Change
(b)-(a)
*1
CR
Appraisal
value
Mitsui Fudosan
MFLP Logistics Park Inc.
(Unit: million yen)
Main factors of change
*1
*1
CR
CR
Other
GLP/MFLP Ichikawa Shiohama
(50%)
2016/09
15,500
15,047
17,350
4.1%
17,900
4.0%
550
-0.1
MFLP Kuki
2016/08
12,500
11,843
14,000
4.6%
14,300
4.5%
300
-0.1
ā
MFLP Yokohama Daikoku (50%)
2016/08
10,100
9,770
10,600
4.5%
10,900
4.4%
300
-0.1
O
MFLP Yashio
2016/08
9,650
9,284
10,900
4.4%
11,100
4.3%
200
-0.1
MFLP Atsugi
2016/08
7,810
7,426
8,720
4.6%
9,140
4.5%
420
-0.1
O
MFLP Funabashi Nishiura
2016/08
6,970
6,656
7,740
4.5%
7,890
4.4%
150
-0.1
MFLP Kashiwa
2016/08
6,300
6,000
6,960
4.6%
7,110
4.5%
150
-0.1
MFLP Sakai (20%)
2016/08
4,500
4,253
4,880
4.6%
4,760
4.6%
-120
0.0
MFLP Komaki
2017/08 *2
8,260
7,954
8,540
4.6%
8,570
4.6%
30
0.0
MFLP Hino (25%)
2018/02 *2
12,533
12,380
12,600
4.2%
12,600
4.2%
0
0.0
MFLP Hiratsuka
2018/03
7,027
6,896
7,150
4.5%
7,150
4.5%
0
0.0
MFLP Tsukuba
2018/12 2
8,781
8,792
10,100
4.9%
10,100
4.9%
0
0.0
MFLP Inazawa
2019/02
16,200
15,997
16,400
4.6%
16,500
4.6%
100
0.0
MFLP Atsugi Il
2019/02
13,100
12,987
13,500
4.3%
13,500
4.3%
0
0.0
MFLP Fukuoka I
2019/02 2
5,263
5,209
5,400
4.8%
5,430
4.8%
30
0.0
MFIP Inzai
2016/08 *2
12,220
12,026
12,800
4.6%
12,800
4.6%
0
0.0
Total/average
156,714
152,526
167,640
4.5%
169,750
4.4%
2,110
-0.0
Reference (as of March 13, 2020) *3
MFLP Prologis Park Kawagoe (50%)
2020/02
14,800
14,800
MFLP Hiroshima I
2020/03
14,480
14,480
MFLP Sakai (70%)
2020/02
16,710
16,710
MFLP Sakai (10%)
2020/04
(planned)
2,390
2,390
After acquisition of properties
acquired in the 8th FP
205,094
200,906
Total/average
14,800
4.3%
14,600
4.9%
16,900
4.6%
2,400
218,450
4.4%
Amount of difference = Unrealized gain
17,543 million yen
*1 CR Capitalization rate based on direct capitalization method (NCF basis). The average indicates a weighted average based on the appraisal value.
*2 The acquisition periods of "MFLP Komaki". "MFLP Hino", "MFLP Tsukuba", "MFLP Fukuoka I" and "MFLP Inzai" are divided into two periods, but the initial acquisition dates (Komaki: upon acquisition of 40% quasi co-ownership interest, Hino: upon acquisition
of 15% quasi co-ownership interest, Tsukuba: upon acquisition of 60% quasi co-ownership interest, Fukuoka I: upon acquisition of 81% quasi co-ownership interest, Inzai: upon acquisition of 20% quasi co-ownership interest) are indicated.
*3 Book value at the end of 7th fiscal period as of March 13, 2020 indicates (planned) acquisition price; and appraisal value at the end of 7th fiscal period indicates appraisal value with November 30, 2019 as the date of value.
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