Security Code:8987

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To Our Unitholders

Hidehiko Ogawa

I am Hidehiko Ogawa, appointed as the Executive Director of Japan Excellent, Inc. (JEI) at its fifth general unitholders meeting. First of all, I would like to express my sincere appreciation for your support of JEI. I am committed to managing JEI's business properly based on my professional experiences in both banking and real estate.

Since listing on the Tokyo Stock Exchange Real Estate Investment Trusts (J-REIT) market in June 2006, JEI has been making investments in office buildings, mainly in the Tokyo metropolitan area and large cities such as Osaka and Nagoya, with consistent objectives of stable growth and maximizing unitholders' value from medium- to long-term perspectives.

(Millions of yen)
Asset value (total acquisition price)
(Millions of yen)
Total revenues
Average occupancy rate of total properties
Distribution per unit
JEI Implemented a 5-for-1 split of its investment units on January 1, 2014 as the effective date.


JEI will continue to pursue both stable income and the expansion of its investments in a balanced manner in order to meet the product characteristics and investment objectives of J-REIT that seek for stable medium- to long-term growth.

We will also endeavor to ensure not only accurate and easy-to-understand disclosure of our management and operations to investors, but also strict compliance with relevant laws and regulations, including the Law Concerning Investment Trusts and Investment Corporations of Japan and our own compliance measures.

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JEI Latest Data

Number of Properties
Asset Size
273,587 million yen
as of Dec 31, 2018
Occupancy Rate
as of March 31, 2019
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