History of Financial Data
(Millions of yen)
Total revenues

(Millions of yen)
Operating income


(Millions of yen)
Net income

(Yen)
Distrinution per unit

21st Fiscal Period  22nd Fiscal Period  23rd Fiscal Period  24th Fiscal Period  25th Fiscal Period 


From Jul. 1 2016 to Dec. 31 2016  From Jan. 1 2017 to Jun. 30 2017  From Jul. 1 2017 to Dec. 31 2017  From Jan. 1 2018 to Jun. 30 2018  From Jul. 1 2018 to Dec. 31 2018 

Total revenues  (Millions of yen)  10,653  10,642  11,085  10,535  10,657 
Revenue from property leasing  (Millions of yen)  10,653  10,642  10,806  10,535  10,657 
Operating expenses  (Millions of yen)  6,431  6,488  6,565  6,509  6,373 
Rental expenses  (Millions of yen)  5,849  5,890  5,931  5,754  5,780 
Operating income  (Millions of yen)  4,221  4,154  4,519  4,025  4,284 
Ordinary income  (Millions of yen)  3,407  3,460  3,701  3,340  3,597 
Net income  (Millions of yen)  3,406  3,459  3,700  3,339  3,596 
Total assets  (Millions of yen)  296,081  297,177  282,197  285,008  285,400 
(change from the previous period)(Note1)  (%)  (4.4)  (0.4)  (△5.0)  (1.0)  (0.1) 
Net assets  (Millions of yen)  143,640  143,693  143,933  143,786  143,727 
(change from the previous period)(Note1)  (%)  (4.2)  (0.0)  (0.2)  (△0.1)  (0.0) 
Paidin capital  (Millions of yen)  139,972  139,972  139,972  139,972  139,972 
Total number of outstanding investment units  (Units)  1,305,700  1,305,700  1,305,700  1,305,700  1,305,700 
Net assets per unit(Note2)  (Yen)  110,010  110,050  110,234  110,122  110,076 
Net income per unit(Note3)  (Yen)  2,614  2,649  2,833  2,557  2,754 
Total distribution  (Millions of yen)  3,406  3,460  3,486  3,655  3,595 
Total distribution per unit(Note4)  (Yen)  2,609  2,650  2,670  2,800  2,754 
Total distribution per unit(after split)(Note4)  (Yen)  ()  ()  ()  ()  () 
(Distribution of accumulated earnings per unit)(Note4)  (Yen)  2,609  2,650  2,670  2,800  2,754 
(Distribution of accumulated earnings per unit(after split))(Note4)  (Yen)  ()  ()  ()  ()  () 
(Distribution in excess of accumulated earnings per unit)(Note4)  (Yen)  0  0  0  0  0 
(Distribution in excess of accumulated earnings per unit(after split))(Note4)  (Yen)           
ROA(Note5)  (%)  1.2  1.2  1.3  1.2  1.3 
ROE(Note6)  (%)  2.4  2.4  2.6  2.3  2.5 
Capital ratio(Note7)  (%)  48.5  48.4  51.0  50.5  50.4 
(percentage points change from the previous period)  (%)  (△0.1)  (△0.2)  (2.7)  (△0.6)  (△0.1) 
Payout ratio(Note8)  (%)  100.0  100.0  94.2  109.5  100.0 
Number of investment properties  31  31  29  30  31  
Number of tenants  237  242  243  202  204  
Total Leasable Floor Space  (㎡)  362,304.64  362,291.56  356,853.73  341,247.3  343,830.44 
Occupancy rate  (%)  99.0  99.4  99.1  99.6  99.6 
Depreciation and amortization  (Millions of yen)  1,956  1,967  1,972  1,926  1,920 
Capital expenditures  (Millions of yen)  1,294  1,056  1,092  867  809 
Net operating income(Note9)  (Millions of yen)  6,760  6,719  6,847  6,707  6,797 
Funds from operations per unit(Note10)  (Yen)  4,107  4,156  4,131  4,159  4,225 
FFO (funds from operations) multiple(Note11) (Note 12)  (Times)  18.2  14.9  16.0  17.0  17.7 
Debt service coverage ratio(Note13)  (Times)  6.4  10.7  10.7  11.1  11.7 
Interestbearing debt  (Millions of yen)  137,900  137,900  122,500  126,500  126,600 
LTV (loan to value)(Note14)  (%)  46.6  46.4  43.4  44.4  44.4 
Number of days  184  181  184  181  184 
 (Note 1)
 Periodonperiod change of total assets and net assets are rounded down to one decimal place.
 (Note 2)
 A fiveforone split of investment units was implemented with January 1, 2014 as the effective date. Net assets per unit is calculated assuming the split of investment units was implemented at the beginning of the fourteenth period.
 (Note 3)
 Net income per unit is calculated by dividing the net income by the weightedaverage number of units outstanding during the six months period. Moreover, a fiveforone split of investment units was implemented with January 1, 2014 as the effective date. Net income per unit is calculated assuming the split of investment units was implemented at the beginning of the fourteenth period.
 (Note 4)
 A fiveforone split of investment units was implemented with January 1, 2014 as the effective date. Distribution per unit after spit, of this, profit distribution per unit after split and of this, distribution in excess of earnings per unit after split are calculated assuming the split of investment units was implemented at the beginning of the fourteenth period (figures are rounded down to the nearest whole number).
 (Note 5)
 Return on assets = Ordinary income / [(Period beginning total assets) + (Period end total assets) / 2] × 100 (The ratio is rounded to one decimal place.)
 (Note 6)
 Return on equity = Net income / [(Period beginning net assets) + (Period end net assets)/ 2] × 100 (The ratio is rounded to one decimal place.)
 (Note 7)
 Capital ratio = Period end net assets / Period end total assets × 100 (The ratio is rounded to one decimal place.)
 (Note 8)
 Payout ratio = For the 18th period and before are calculated with the following formula. Payout ratio = (Total distribution / Net income) × 100 (figures for the 18th period and before are rounded down to the firstdecimal place while figures for the 19th period and after are rounded to the first decimal place.)
Payout ratio for the 22nd period and after are calculated with the following formula. Payout ratio = (Distribution per unit (not including distribution in excess of earnings per unit) / Net income per unit) × 100(Figures are rounded to the first decimal place.)
The payout ratio for the 19th and 21st periods are calculated with the following formula as new investment units were issued. Payout ratio = Total distributions (not including distribution in excess of earnings per unit) / Net income) × 100  (Note 9)
 NOI = Rental revenues ? Property operating expenses + Depreciation
 (Note 10)
 FFO per unit = (Net income + Depreciation ? Gain on sale real estate + Loss on sale of real estate) / Number of Outstanding investment units (the figure is rounded down to the whole number). Moreover, a fiveforone split of investment units was implemented with January 1, 2014 as the effective date. Outstanding investment units is calculated assuming the split of investment units was implemented at the beginning of the fourteenth period.
 (Note 11)
 FFO multiples = Period end investment unit price / Annualized FFO per unit (The rate is rounded down to one decimal place.)
 (Note 12)
 A fiveforone split of investment units was implemented with January 1, 2014 as the effective date. FFO multiples for the fourteenth and fifteenth periods are calculated based on the period end investment unit price calculated assuming the split of investment units was implemented.
 (Note 13)
 DSCR
FP21 : Net income before interest and taxes / (Interest expenses + Interest expense on investment corporation bonds)
FP22 : (Net income before interest and taxes + Depreciation and amortization) / (Interest expenses + Interest expense on investment corporation bonds)
(The ratio is rounded to one decimal place.)  (Note 14)
 Loantovalue = Period end interestbearing debt / Period end total assets × 100 (The ratio is rounded to one decimal place.)