Japan Retail Fund Investment Corporation is selling 2 Tokyo office properties and raising its earnings forecasts. The total sale price is ¥7.6 billion, and profit forecasts and distributions per unit for the current and next periods have been increased.
Japan Retail Fund Investment Corporation announced that it would sell 2 Tokyo office properties, FORECAST Ningyocho in Chuo Ward and Toranomon Sakura Building in Minato Ward. Both properties are several decades old, and the sale was decided after taking into account expected increases in future capital expenditure and the scope for internal growth. The total sale price is ¥7.6 billion.
For the 29th fiscal period, the fiscal year ending December 2026, the forecast reflects a ¥317 million gain on the sale of FORECAST Ningyocho, with profit expected to increase 6.5% from the previous forecast. The reduction in retained earnings to be drawn down is ¥14 million, and distributions per unit are expected to rise 5.0% to ¥2,415.
For the 30th fiscal period, the fiscal year ending June 2027, the forecast reflects a ¥454 million gain on the sale of Toranomon Sakura Building, with profit expected to increase 7.9% from the previous forecast. The reduction in retained earnings to be drawn down is ¥168 million, and distributions per unit are unchanged at ¥2,300.