Investor Presentaiton
NOI Analysis by Sector
Feb-22
Aug-22
Office
Number of Property
Acquisition Price (min)
Ended Feb.28,2022(13th FP)
Retail
Feb-22
Aug-22
67
471,265
68
476,765
Number of Property
Acquisition Price (min)
50
178,744
49
174,044
From Sep.1, 2021
To Feb.28, 2022
Ended Aug.31,2022(14th FP)
From Mar.1, 2022
To Aug. 31, 2022
Differences
Main factors accounting
for differences
Ended Feb.28,2022(13th FP)
From Sep.1, 2021
To Feb.28, 2022
Ended Aug.31,2022 (14th FP)
From Mar.1, 2022
To Aug.31, 2022
Differences
Main factors accounting
for differences
Amount
(\min)
Amount
(min)
(min)
Property related revenues
Rental revenues
17,198
17,497
15,870
16,036
299
166
Profit/Loss From Existing
Property Leasing Business
Amount
(\min)
Amount
(min)
Profit/Loss From Existing
-30
(min)
-68
Property Leasing Business
Property related revenues
6,336
6,272
-64
Main factors in the above
Rental revenues
5,633
5,516
-117
Main factors in the above
Other rental revenues
1,328
1,461
133
Rent & common expenses
+96
property related expenses
7,569
7,880
310
• Increase in cancellation
+26
Other rental revenues
property related expenses
703
756
52
• Rent & common expenses
+64
2,602
2,691
88
⚫ Deterioration of utility
+7
Property management costs
1,058
1,063
5
penalties, etc.
Property management costs
269
272
2
payment balance
Property management fees
347
381
34
⚫ Deterioration of utility
-79
Property management fees
129
143
13
• Increase in PM
-17
Property and other taxes
1,746
1,802
55
payment balance
Property and other taxes.
493
496
2
compensation
Utility expenses
989
1,177
188
• Increase in taxes
-63
Utility expenses
383
442
59
• Increase in repair expenses
-16
Casualty insurance
29
30
1
• Increase in depreciation
-62
• Increase in taxes
-15
Casualty insurance
8
9
0
Repairs and maintenance
542
540
-2
⚫ Other
+14
⚫ Other
-53
Repairs and maintenance
129
143
14
Land rents
101
112
11
Depreciation
2,115
2,181
65
Leasing Business Profit/Loss
Land rents
76
76
0
+57
Leasing Business Profit/Loss
-123
Other rental expenses
from Properties Acquired and
Depreciation
794
766
-27
from Properties Sold
639
589
-49
Sold
Other rental expenses
318
340
21
(Note 1)
Real estate rental profits
9,628
9,617
-10
(Note 1)
NOI
11,744
11,799
54
Real estate rental profits
ΝΟΙ
3,734
3,581
-153
4,528
4,347
-180
Logistics
Residential
Feb-22
Aug-22
Feb-22
Aug-22
Number of Property
Acquisition Price (min)
23
23
218,182
218,182
Number of Property
Acquisition Price (min)
155
202,047
157
211,617
Ended Feb.28,2022(13th FP)
From Sep.1, 2021
To Feb.28, 2022
Amount
(\mln)
Ended Aug.31,2022(14th FP)
From Mar.1, 2022
To Aug. 31, 2022
Differences
Main factors accounting
for differences
Ended Feb.28,2022(13th FP)
From Sep.1, 2021
To Feb.28, 2022
Ended Aug.31,2022(14th FP)
From Mar.1, 2022
To Aug. 31, 2022
Differences
Amount
(min)
Profit/Loss From Existing
-200
Amount
(min)
Property Leasing Business
(\min)
Amount
(min)
(min)
Main factors accounting
for differences
Profit/Loss From Existing
Property Leasing Business
+113
Property related revenues
Rental revenues
Other rental revenues
6,848
7,115
267
Property related revenues
6,803
7,177
373
6,620
6,854
233
Main factors in the above
Rental revenues
6,360
6,641
281
Main factors in the above
227
261
33
• Rent & common expenses
-91
Other rental revenues
442
535
92
Rent & common expenses
+56
property related expenses
2,590
2,776
185
. Deterioration of utility
-18
property related expenses
3,156
3,251
95
• Increase in key money,
+71
Property management costs
274
284
9
payment balance
Property management costs
226
234
8
renewal fees, etc. (seasonal
Property management fees
• Increase in repair expenses
-47
factors)
117
139
21
Property management fees
354
404
50
• Increase in PM
-18
• Increase in PM fees &
-28
Property and other taxes.
630
633
2
Property and other taxes
359
363
4
compensation
advertising expenses
Utility expenses
126
168
41
⚫ Other
-24
Utility expenses
84
90
5
(season factors)
Casualty insurance
12
13
1
Casualty insurance
9
10
0
•Decrease in repair expenses
+9
Repairs and maintenance.
69
116
47
Leasing Business Profit/Loss +281
Repairs and maintenance
529
524
-5
⚫ Other
+4
Land rents
-
-
from Properties Acquired
Land rents
Depreciation
1,324
1,374
49
(Note 1)
Depreciation
1,344
1,384
40
Leasing Business Profit/Loss +165
Other rental expenses
33
45
11
Other rental expenses
247
238
-9
from Properties Acquired
Real estate rental profits
4,257
4,339
81
Real estate rental profits
3,646
3,925
278
(Note 1)
NOI
5,582
5,714
131
NOI
4,991
5,310
318
(Note 1) Includes the impact of property acquisitions and sales during Feb. 2022 FP.
(Note 2) The real estate rental revenues of Kojimachi Millennium Garden (Residential Building) are included in the results of the office sector.
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