Investor Presentaiton
Unrealized Profit / Loss
Unrealized Profit / Loss and Unrealized Profit / Loss Ratio
(JPY billion)
Nippon
Accommodations
Fund
160
140
Unrealized Profit (left axis) -- Unrealized Profit / Loss Ratio (right axis)
Unrealized Loss (left axis)
60%
49.1%
45.9%
41.8%
50%
120
39.3%
37.1%
34.2% 35.0%
40%
100
29.4%
26.4%
129.2 142.4 151.5
80
23.1%
122.0
19.4% 21.3%
30%
60
12.0% 13.9% 14.6%
16.3%
108.4
97.8 102.0
20%
9.0%
5.5%
75.2 84.5
3.0%
40
0.1%
34.3
39.3
65.5
60.3
55.4
-6.1% -5.6% -5.9% -4.8% -3.8% -3.1% -1.8%
10%
41.8 46.1
25.3
20
8.0
15.4
0%
0.3
0
-10%
-11.0 -10.5 -10.9
-8.8 -7.2
-4.3
-20
10th
14th
2013
-10.6
8th 9th
11th 12th 13th
15th 16th 17th 18th 19th 20th 21st 22nd 23rd 24th
Period Period Period Period Period Period Period Period Period Period Period Period Period Period Period
Feb. Aug. Feb. Aug. Feb. Aug. Feb. Aug. Feb. Aug. Feb. Aug. Feb. Aug. Feb.
2010 2010 2011 2011 2012 2012
2013 2014 2014 2015 2015 2016 2016 2017
25th 26th 27th 28th 29th 30th 31st 32nd 33rd 34th
Period Period Period Period Period Period Period Period Period Period Period Period
Aug. Feb. Aug. Feb. Aug. Feb. Aug. Feb. Aug. Feb. Aug. Feb.
2017 2018 2018 2019 2019 2020 2020
2021 2022 2022 2023
-20%
2021
NAV per Unit✶1
(JPY thousand)
600
500
400
300
200
100
224
225 224 237
242 246
254
273 289 305 327
350
361 366 375
394 404
435 455
415
483 491 505 532
546
572 591
0
8th 9th 10th 11th
Period Period Period Period
Feb. Aug. Feb. Aug.
Period
19th 20th 21st 22nd 23rd
24th 25th 26th 27th 28th 29th 30th 31st 32nd 33rd 34th
Period Period Period Period Period Period Period Period Period Period Period Period Period Period
Aug. Feb. Aug. Feb. Aug. Feb. Aug. Feb. Aug. Feb. Aug. Feb. Aug. Feb.
2019 2019 2020 2020 2021 2021 2022 2022 2023
12th 13th 14th 15th 16th
17th
18th
Period Period Period Period Period Period Period Period
Feb. Aug. Feb. Aug. Feb. Aug. Feb. Aug. Feb.
2010 2010 2011 2011 2012 2012 2013 2013 2014 2014 2015 2015 2016 2016 2017 2017 2018 2018
*1 NAV (net asset value) per unit = (Net assets - Total distribution + Unrealized profit or loss) / Units outstanding
Direct Capitalization Rate on Appraisal Value of Properties Owned at Period-End
5.4% 5.4% 5.4% 5.4% 5.3% 5.3% 5.2% 5.1% 4.9% 4.8% 4.7% 4.5% 4.5% 4.5% 4.4% 4.3% 4.3% 4.3% 4.2% 4.1% 4.0% 4.0% 3.9% 3.8%
7%
6%
5%
3.68%
3.78%
3.62%
4%
3%
8th
9th
10th 11th
12th 13th
14th 15th 16th
17th
2010 2010 2011
2011 2012 2012
2013
2013 2014 2014 2015 2015
18th 19th 20th 21st 22nd 23rd 24th 25th 26th 27th 28th 29th 30th 31st 32nd 33rd 34th
Period Period Period Period Period Period Period Period Period Period Period Period Period Period Period Period Period Period Period Period Period Period Period Period Period Period Period
Feb. Aug. Feb. Aug. Feb. Aug. Feb. Aug. Feb. Aug. Feb. Aug. Feb. Aug. Feb. Aug. Feb. Aug. Feb. Aug. Feb. Aug. Feb. Aug. Feb. Aug. Feb.
2016 2016 2017 2017 2018 2018 2019 2019 2020 2020 2021 2021 2022 2022 2023
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