Nippon Prime Realty Investment Corporation announced its results for the 49th fiscal period, reporting an actual distribution of ¥2,147 per unit. The announcement outlined the current portfolio following new acquisitions and property sales, along with key points of its future distribution policy and growth plans.
The company announced results for its 49th fiscal period, which is the fiscal year ending June 2026. The portfolio added JPR Dojima West as a new acquisition, while the remaining 35% stakes in Minami-Azabu Building and JPR Yokohama Nihon Odori Building were sold. Profit increased 1.7% from the previous period, with ¥916 million retained as internal reserves, and the distribution was ¥2,147 per unit, up 1.7% from the previous period.
At period-end, the portfolio comprised 65 properties, with total assets of ¥552.1 billion and an interest-bearing debt ratio of 43.2%.
For the 50th fiscal period, rent increases are expected to progress, but the gain on property sales recorded in the previous period will no longer be present. Profit is expected to decline 16.5% from the previous period, while ¥684 million will be drawn from internal reserves. The distribution is forecast at ¥2,150 per unit, up 0.1% from the previous period.
For the 51st fiscal period, rental growth is expected to contribute, and the distribution is forecast at ¥2,170 per unit, up 0.9% from the previous period's forecast. The gap with market rents is expected to widen to -14.9%. The company aims to rotate approximately 10% of the portfolio over the next 5 years and increase its asset size to at least ¥650 billion. Targets were presented to raise annual growth in earnings per unit to 3% and in distributions to at least 4%.