Japan Prime Realty Investment Corporation (8955):Mr. Satoshi Okubo, President, Tokyo Realty Investment Management | Due to more-than-anticipated increase in rental revenue of the existing portfolio, distribution per unit for the 26th fiscal period was 6,351 yen, largely outpacing the previous period. Constant growth has been achieved toward the mid-term goal of 6,500 yen.
Japan Prime Realty Investment Corporation (JPR) announced its financial result for the 26th fiscal period on February 19. JPR achieved positive growth in distribution per unit, resulting in 6,351 yen, 3.3% increase compared to the previous period. Occupancy rates for several office properties to which intensive leasing activities were conducted generally improved to over 90%. Overall occupancy trended at around 97% together with tenant replacements. As a result, rental revenue of the existing portfolio attained much higher growth than forecasted.On the other hand, as for external growth, continuation of selective investments was emphasized reflecting hike in property prices.President Okubo mentioned the high quality that JPR’s portfolio provides and commented that leasing-out, upward rent revisions and interest cost reductions will be fully leveraged for steady DPU growth.