Table of Contents
Section 1 | Management Highlight | P. 2 |
Section 2 Financial Results and Earning Forecasts | P. 4 | |
Section 3 | Management Status | P. 9 |
Section 4 | Financial Status | P. 20 |
Section 5 | Initiatives for Sustainability | P. 23 |
1
Section 1
Management Highlight
2
Management Highlight
Return to Unitholders
2023/4 period | 7,647yen | Period over period | +5.6% |
DPU | Compared to initial forecast | +5.5% |
Note: The figures are calculated taking into account of the investment unit split implemented on November 1, 2022
External Growth
- Sold KDX Kawasaki-EkimaeHon-cho Building (acquisition price 3,760 mn yen) in 23/4 period, bringing AUM to 453.3 bn yen
- Silent partnership equity interests are to be sold separately in 23/10 and 24/4 periods (these are not counted in AUM)
- Gain on sale of real estate etc. and securities are to be recorded in three separate periods, leading to an increase and stabilization of distributions
23/4 period | 23/10 period | 24/4 period |
Gain on sale | Expected gain on sale | Expected gain on sale |
1,168 mn yen | 545 mn yen | 545 mn yen |
Provision of reserve for | To be distributed | To be distributed |
reduction entry: 718 mn yen | the entire amount | the entire amount |
Internal Growth
- In 23/4 period, maintained a high occupancy rate through proactive leasing based on market and tenant needs and by the sale of a property in which a single tenant has moved-out
- Realized increase in monthly rent due to tenant replacement and rent revisions while rent gap narrowed
Occupancy rate | Monthly rent increase | Due to tenant replacement |
98.4% | 3.3 mn yen | 1.2 mn yen |
+0.6% from the end | Due to tenant replacements | Due to rent revisions |
2.1 mn yen | ||
of previous period | and rent revisions |
Finance
Average rate | Fixed interest | LTV |
of interest-bearing debt | rate ratio | (book value basis) |
0.82% | 97.5% | 45.3% |
No change from the end | No change from the end | -0.1% from the end |
of previous period | of previous period | of previous period |
Sustainability
- New GHG emission reduction target and SBT certification
- Updated GHG emission reduction targets and added a target in total amount in January 2023
GHG | In FY 2030 | By 2050 |
emission | ||
Total amount: 42% reduction (base year: FY 2021) | ||
reduction | Net-zero | |
targets | Per unit: 50% reduction (base year: FY 2013) |
- The updated targets have been certified as science-based targets (SBT) in March 2023
- Initiatives to reduce GHG emissions
Introduce electricity | 62 properties | Installation of | 40.9% |
derived from | |||
effectively | +43 from the end | LED lightning | +1.6% from the end |
in tenant area | |||
renewable energy | of previous period | of previous period |
- ResReal Real Estate Resilience Certification Flood Damage Edition
- Acquired ResReal certifications for KDX Fuchu Building, KDX Utsunomiya Building and KDX Toranomon 1chome Building in March 2023
-
Procured 4.8 billion yen in green loans
(The amount of green finance: 17.0 billion yen in total)
3
Section 2
Financial Results and Earning Forecasts
4
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Disclaimer
Kenedix Office Investment Corporation published this content on 13 June 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 15 June 2023 08:29:02 UTC.