ORIX Real Estate Investment Corporation announced its results for the 49th fiscal period and also announced plans to sell Round Cross Kagoshima for ¥1.242 billion.
ORIX Real Estate Investment Corporation announced its results for the 49th fiscal period (fiscal year ended August 2026), acquiring 5 properties including Kamata Prime and selling 2 properties including a 40% interest in Hamamatsu Act Tower, recording ¥3,514 million in gains on sale. Hotel revenue in the Osaka area declined due to the end of the World Expo and the impact of Japan-China relations, but profit increased 3.6% year on year due to higher gains on sale and lower repair expenses.
The year-end portfolio comprised 123 properties, with total assets of ¥806.7 billion and an interest-bearing debt ratio of 47.5%. On the same date, the company also announced plans to sell Round Cross Kagoshima in December, for an expected sale price of ¥1.242 billion and gain on sale of ¥29 million.
For the 50th fiscal period, the company expects to acquire 3 properties including Toyosu Prime Square and sell 2 properties including Round Cross Kagoshima. Gains on sale are expected to be ¥867 million, supported by contributions from the newly acquired properties, but profit is expected to decline 14% year on year due to lower gains on property sales. The company plans to draw down ¥800 million from retained earnings, and expects distribution per unit of ¥2,470.