Internal Portfolio Growth through Tenant Relations, Strategic CAPEX and IR
First written in FY2017. 5 of 7 entries say "Advanced", first in FY2023-Q3. Latest entry: FY2025.
The whole theme swung hardest in 2021: 1 of 11 companies on the "Worse" side.
10 other companies' latest entry also says "Advanced".
- FY2025AdvancedAnnual report
「We have provided 4 office buildings located in central Tokyo and central Fukuoka to Ichigo Office for a total sale price of ¥9.1 billion」
Regarding portfolio growth support and property replacements, it provided 4 office properties in central Tokyo and central Fukuoka for ¥9.1 billion. - FY2025-Q1AdvancedAnnual report
「In addition, to support the growth of Ichigo Office, during the first quarter we provided 4 office properties located in central Tokyo and central Fukuoka for a total sale price of ¥9.1 billion.」
To support J-REIT portfolio growth, it provided 4 office properties in central Tokyo and central Fukuoka for ¥9.1 billion. - FY2024AdvancedAnnual report
「In the second quarter, we provided Ichigo Hotel with 5 hotels, including Ichigo-branded lifestyle hotels, and subscribed for approximately ¥1.5 billion of new investment units through a third-party allotment.」
To support the investment corporation’s portfolio growth, it provided 5 hotels to Ichigo Hotel and underwrote approximately ¥1.5 billion in a third-party allotment. - FY2024-Q2AdvancedAnnual report
「We sold 5 properties, including our branded hotels “THE KNOT SAPPORO” and “HOTEL THE KNOT YOKOHAMA,” to Ichigo Hotel for a total sale price of ¥15 billion.」
To support J-REIT portfolio growth, it sold 5 properties, including branded hotels, to Ichigo Hotel and proceeded with property replacements to enhance unitholder value. - FY2023-Q3AdvancedAnnual report
「During the current fiscal year, the J-REITs we manage continued to acquire high-quality real estate, while Ichigo Office continued to replace properties in its portfolio. In the previous fiscal year, it sold properties at prices 2.3 times their book value and 1.9 times their appraised value. In the current fiscal year, it also completed similar sales in the fourth quarter that contributed to enhancing unitholder value, seeking to maximize unitholder value through replacement with properties offering greater potential for value enhancement.」
Regarding the replacement of properties held by the J-REIT, it explained that it completed sales that contribute to enhancing unitholder value during the period and is proceeding with replacements by properties with potential for further value enhancement. - FY2018RestatedAnnual report
「We are actively realizing latent gains by selling properties held, securing funds for future growth investments and implementing value-enhancing CAPEX (capital expenditures), while pursuing higher earnings through asset replacements and the acquisition of new assets using available borrowing capacity.」
It continues measures to improve portfolio earnings through property sales, value-enhancing CAPEX, asset replacements and new acquisitions using available borrowing capacity. - FY2017First statedAnnual report
「We will strengthen tenant relations and implement measures that contribute to internal portfolio growth, including strategic CAPEX (capital expenditures) that enhances value, while conducting intensive IR activities in both quality and quantity to increase investment unit prices.」
As measures to address a weak J-REIT market, where raising capital is difficult, it identifies tenant relations, capital expenditures and IR as specific initiatives.