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Financial Results for the 25Th Fiscal Period Ended August 31, 2014
0 Financial Results for the 25th Fiscal Period ended August 31, 2014 October 10, 2014 Prepared by ORIX Asset Management Corporation Table of Contents 1 OJR's Management Philosophy 2 Appendix Results for the 25th Fiscal Period and Earnings Forecasts Actual Financial Highlights 27 Performance Highlights 4 Overview of POs (Consecutive 4FP) 28 Stable Growth of DPU (1) 5 Major Tenants 29 Stable Growth of DPU (2) 6 New Acquisitions (1) 30 Comparison of Actual vs Forecast for FP25 ended Aug. 2014 7 New Acquisitions (2) 31 Comparison of Previous and New Forecasts for FP26 ending Feb. 2015 8 New Acquisitions (3) 32 Comparison of FP25 Actual and FP26 & FP27 Forecasts 9 New Acquisitions (4) 33 Internal Growth Strategy New Acquisitions (5) 34 Occupancy Rate and Tenant Replacements 11 New Acquisitions (6) 35 Rent Revisions of Existing Tenants 12 New Acquisitions (7) 36 Internal Growth Results: Offices 13 Change of Portfolio Growth 37 Internal Growth Results: Retail Facilities 14 Portfolio Summary 38 Increase of Rents at Recently Acquired Properties 15 Portfolio Map 39 External Growth & Financial Strategies Portfolio Data (1) 40 Overview of new Acquisitions through Public Offering 17 Portfolio Data (2) 41 Property scheduled to be Acquired 18 Overview of Appraisal Value 42 Portfolio Status 19 Appraisal Value List at the end of FP25 (1) 43 Financial Strategy 20 Appraisal Value List at the end of FP25 (2) 44 Future Management Policies & Strategies Financial Data 45 Management Tactics in line with Current Enviromnental Perceptions 22 Investment Units 46 -
Investor Presentation (Fiscal Period Ended June 30, 2018)
http://www.midcity-reit.com/en/ 24 th Period INVESTOR PRESENTATION Fiscal Period ended June 30, 2018 Securities Code 3227 Key Events in the Past Year (Aug. 2017 Aug. 2018) ~ May 2018 Issuance of 5th Unsecured Investment Aug, 2018 Corporation Bonds Announcement of Asset Replacement Oct. 2017 Apr. 2018 Disposition of two (yen) Matsushita IMP Bldg. Acquired A+(positive) properties Acquisition of one 85,000 Signed leasing contracts to refill approx. 2.5 Feb. 2018 credit rating from JCR rd property Oct. 2017 floors of the vacated 4 floors by Asahi Group The 3 Pubic Offering ( 1 floor concluded in Jan. 2018) (4 acquisitions/23.2 bn yen) “Twin 21” + Conclusion of MOU on upward rent revision with Panasonic Jan. 2018 Corporation Five-for-one 80,000 investment unit split Aug. 2017 “Twin 21” Jul. 2018 Green lease agreement with Refinance of borrowings Panasonic Corporation (15.3 bn yen) 75,000 and reception of notice of decision to grant subsidy Apr. 2018 Sep. 2017 Partial share transfer owned by a GRESB Green Star for shareholder of the asset management company (MC-UBS share increased from 65% to 85%) 70,000 Two Consecutive Years 65,000 MidCity Unit Price TSE REIT Index 60,000 23th 24th 25th 55,000~0 ~2017/8 2017/9 2017/10 2017/11 2017/12 2018/1 2018/2 2018/3 2018/4 2018/5 2018/6 2018/7 2018/8 Source S&P Capital IQ, from August 1, 2017 to July 31, 2018 TSE REIT: Index is indicated as a transition of a relative value under the assumption that closing price (1,705.4pt) of TSE REIT Index as of August 1, 2017 is the same as the closing price (66,000 yen) of MCUBS MidCity investment unit price on the same day. -
24Th Fiscal Period Results (January 1, 2015 to June 30, 2015) Invincible Investment Corporation
24th Fiscal Period Results (January 1, 2015 to June 30, 2015) August 27, 2015 Invincible Investment Corporation Investment Invincible Corporation TSE Code: 8963 http://www.invincible‐inv.co.jp/eng/ Table of Contents Page Title Page Title 2 Table of Contents 32 ・Significant Improvement of Market Recognition 3 1H 2015 Highlights and 2015‐16 Forecast 33 ・Value Creation Track Rec ord 4 ・Executive Summary 34 Overview of Properties Acquired in February, July and August 2015 7 Continuous and Robust DPU Growth 35 ・Overview of Acquisition 8 ・Robust Growth of DPU 54 Appendix 9 ・ADR/DPU Sensitivity Analysis 55 ・Inc o me Statement 10 Global Offering (Imple mented on July 16, 2015) 56 ・Balance Sheet 11 ・Offering of Global Public Offering (July 16, 2015) 58 ・Cash Flow Statement / Financ ial Statements pertaining to Distribution of Monies 12 ・Significant Growth of Portfolio 59 ・Forecast fo r 2015 and 2016 (as of Aug. 26, 2015) 13 ・Overview of Portfolio 60 ・24th Fiscal Period Results – comparison with 23rd Fiscal Period 14 ・Continuous Impro v e me nt of Financial Condition 61 ・Financ ial Metrics 15 Robust Organic Growth of Hotel Assets 62 ・Overview of Borrowings (as of the end of Jun. 2015 / Aug. 28, 2015) 16 ・Robust Performance of Hotel Assets ‐ Strong ADR / GOP Growth 63 ・LTV based on Appraisal Value by Loans 17 ・Key Operational Data fo r Hotel Properties 64 ・Portfolio Characteristics 19 ・Competitive Advantages over Other Hotel J‐REITs 65 ・Overview of Unitholders 20 Stronger Fundamentals fo r Hospitality Sector 66 ・Portfolio List as of the end of Jun. 2015 (Performance by Properties, etc.) 24 Future Growth Opportunity 80 ・Appraisal Value & Book Value as of the end of Jun. -
November 1, 2016 for Immediate Release Mitsui Fudosan Residential Co., Ltd. Marubeni Corporation < Yokohama Kitanaka Tower Pr
November 1, 2016 For immediate release Mitsui Fudosan Residential Co., Ltd. Marubeni Corporation < Yokohama Kitanaka Tower Project with Direct Access to Bashamichi Station (Tentative name)> Construction Begins on a Super High-Rise Mixed-Used Tower—the City of Yokohama’s Tallest, Largest-Scale*1 Condominium Residence ~Development Brings Together a Condominium Residence and Retail, Cultural and Other Facilities; Oakwood to Open its First Facility in the Yokohama Area~ (Tokyo, Japan, October 31, 2016) Mitsui Fudosan Residential Co., Ltd., a leading housing company headquartered in Tokyo, and Marubeni Corporation today began construction of a super high-rise mixed-use tower to be located at the center of the Kitanaka DoriKita Redevelopment District Maintenance Plan (approx. 7.5 ha), a large-scale development project currently under way in Naka Ward, Yokohama. Construction is planned for completion in February 2020. This undertaking will integrally develop what will be the City of Yokohama’s tallest, largest-scale*1 condominium residence with more than 1,100 units and accommodation, retail, cultural and other facilities in the Kitanaka Dori district, which links the Minato Mirai 21 and Kannai districts. The development will give birth to a new landmark in a highly convenient location offering direct access to Bashamichi Station on the Minatomirai Line, which inter-runs with the Tokyu Toyoko Line. Main Features of the Development (1) A super high-rise mixed-use tower about 200 meters tall that will become a new Yokohama landmark. Directly accessible from Bashamichi Station, just one minute away on foot. (2) Oakwood to open its first facility in the Yokohama area. -
Access Map Download
P3 P2 Pukarisanbashi Pier (Sea Bass Terminal) ACCESS GUIDE Rinko Park P1 InterContinental P4 P1 National Yokohama Grand About 40 minutes by direct limousine bus from Haneda Airport Convention Hall Harbor Lounge P1 North Yokohama International Nearest stations: Minatomirai Line Minatomirai Station / JR Sakuragicho Station Organizations Exhibition Hall Center Annex Plaza 1-1-1 Minato Mirai, Nishi-ku, Yokohama 220-0012, Japan Tel: +81-45-221-2155 (General Information) Hall P1 Conference P1 Center *To PACIFICO Yokohama North: 1-1-2, Minato Mirai, Nishi-ku, Yokohama P1 Marine Shuttle Marine Rouge Limousine Bus direct to PACIFICO Yokohama about 40 min. Yamanouchi Pier Sea Bass Keikyu Line about 24 min. By Taxi about 10 min. Sea Bass Shinko Pier Limousine Bus about 30 min. Sea Bass (boat) about 10 min. Yokohama City Haneda Airport Central Wholesale Market Shinko Pier Yokohama Maritime (from Yokohama Station East Exit to Pukarisanbashi Pier) Cruise Terminal Disaster Prevention Base Limousine Bus about 90 min. YCAT InterContinental Yokohama Pier 8 Domestic (direct to PACIFICO Yokohama about 110 min.) Berth Pukarisanbashi Pier Yokohama Hammerhead Minato Mirai-bashi Rinko Park Marine & Walk Yokohama Bridge Yokohama Articulated Bus “BAYSIDE BLUE” Red Brick JR Narita Express about 90 min. about 17 min. Narita Airport InterContinental JICA Japanese Overseas Warehouse (to PACIFICO Yokohama North about 11 min.) The Kahala Hotel & Resort Migration Museum Yokohama Yokohama Grand Yokohama Station Yokohama Route 1 Megami-bashi Cupnoodles Museum JR Tokaido Line about min. Bridge 25 Exit 2 Manyo-club Minatomirai Line By Walk Yokohama Metropolitan Expressway Yokohane Line Kokusai-bashi World Porters JR Yokosuka Line about 30 min. -
Accessible Tokyo
TABLE OF CONTENTS Symbols ................................................................................................ 2 Yokohama ............................................................................................... 3 Sankeien Garden ........................................................................................ 5 Nippon Maru Memorial Park ................................................................................. 6 Yokohama Port Museum .................................................................................... 7 Nippon Maru ........................................................................................... 8 The Landmark Tower ...................................................................................... 9 Yokohama Royal Park Hotel ................................................................................ 10 Queen's Square Yokohama ................................................................................. 11 The Yokohama Bay Hotel Tokyu ............................................................................. 12 InterContinental Yokohama Grand ........................................................................... 13 Yokohama Museum of Art .................................................................................. 14 Mitsubishi Minatomirai Industrial Museum ..................................................................... 15 Yokohama Cosmoworld .................................................................................... 16 Cupnoodles Museum -
Notice of Acquisition of Asset and Lease Contract with New Tenants
September 7, 2016 FOR IMMEDIATE RELEASE Activia Properties Inc. 1-1 Minami-Aoyama 1-chome, Minato-ku, Tokyo Michie Kawai Executive Director (Code: 3279) Asset Management Company TLC Activia Investment Management Inc. Michie Kawai Representative Director, President and Chief Executive Officer Inquiries Kazuyuki Murayama Executive Officer of Fund Management Department (Tel: +81-3-6804-5671) Notice of Acquisition of Asset and Lease Contract with New Tenants Activia Properties Inc. (“API”) announces that TLC Activia Investment Management Inc. (“TAIM”), to which API entrusts its asset management operations, decided to acquire two properties (the “2 properties”) today. Details are as follows: 1. Overview of the acquisition and lease Acquisition price Category Property name Location (Millions of yen) Umeda Gate Tower Osaka, Osaka 19,000 Other Properties A-PLACE Bashamichi (Note) Yokohama, Kanagawa 3,930 Total 22,930 (Note) The current name of the property is “SEBON Kannai No.2 Building”. “A-PLACE Bashamichi” is the administrative name which API will use after the acquisition. < Umeda Gate Tower > (1) Property name : Umeda Gate Tower (2) Asset to be acquired : The trust beneficiary interest in a property (sectional ownership from 5th to 20th floors of Umeda Gate Tower) as a trust asset (3) Acquisition price : ¥19,000 million (excluding expenses for the acquisition and consumption tax, etc.) (4) Date of sales contract : September 7, 2016 (5) Date of acquisition : September 21, 2016 (plan) (6) Seller of property : United TMK (tokutei mokuteki kaisya) (7) Funds for acquisition : Borrowings and API’s own funds (plan) (Note) (8) Settlement method : Total amount to be paid at the time of delivery (Note) Further information on borrowings, please refer to the “Notice Concerning Borrowing of Funds” announced as of today. -
Yokohama Port Museum
General Information • Opening hours: 10:00 ~17:00 * It may vary depending on season. • Closures: Monday (Tuesday if Sunday or Monday is public holiday), year-end holidays and other temporary closing. Admission Combo Ticket (Group) Single Ticket (Group) Adults ¥600 (¥500) ¥400 (¥350) 65 years & over ¥400 (¥300) ¥250 (¥200) Elementary, ¥300 (¥200) ¥200 (¥150) junior high and high school students Special discounted rate of ¥100 on Saturdays Yanagihara Ryohei Art Museum • The combo ticket is available to see both of Sail Training Ship NIPPON MARU and Yokohama Port Museum. • The single ticket is available for either Sail Training Ship NIPPON MARU or Yokohama Port Museum. • Seniors (65 years and older) with Hamatomo card are eligible for the group discount rate. • The Group rate is available for 20 or more paying guests (elementary school students or above). • Special combo ticket rate of ¥100 for elementary, junior high and high school students on Saturdays." This special discounted rate will be used to preserve the Sail Training Ship NIPPON MARU for its centennial. • Special exhibitions may require a separate admission fee. Sail Training Ship NIPPON MARU Access Guide National Important Cultural Property Yokohama Municipal Subway -Green Line Sail Training Ship NIPPON MARU was built in 1930 JR Yokohama Shin- Line Yokohama Yamanote Line as a training ship for cadets. The ship brought up 11,500 cadets Nakayama Toyoko for 54 years until her retirement as a training ship in 1984. Line Shibuya Hiyoshi During her service, NIPPON MARU logged 45.4 times around the Sotetsu Kikuna Line Yokohama Municipal earth (1,830,000 kilometers in total). -
Report REPORT About Yokohama Triennale Foreword
T OR P RE Yokohama Triennale 2020 “AFTERGLOW” Report REPORT About Yokohama Triennale Foreword Summary The Yokohama Triennale, which started in 2001, has reached its 20th anniversary with the completon of its 7th editon, Yokohama Triennale 2020 “Afterglow.” The Yokohama Triennale is an internatonal exhibiton of contemporary art held in Yokohama once every three years. The exhibiton features both internatonally renowned and up-and-coming artsts, and presents Over these twenty years, the Triennale has been held under difcult circumstances on several occasions. the latest trends and expressions in contemporary art. The inaugural editon in 2001 endured even as it witnessed the atack on American soil on September 11, and the 4th editon (2011) opened in the aftermath of the Great East Japan Earthquake. Now the 7th editon Since its inauguraton in 2001, the Yokohama Triennale has addressed the relatonships between Japan and has been impacted by the new coronavirus, which started spreading widely in early 2020. the world, and the individual and society, and reexamined the social role of art from a variety of perspectves, in response to a world in constant flux. With travel restrictons in place, and neither the overseas-based artstc director Raqs Media Collectve nor artsts able to atend in person, preparatons for the exhibiton were completed online. To help minimize risk, The first three editons (2001, 2005, 2008) were primarily organized and overseen by the Japan Foundaton the event’s opening was delayed by two weeks, and on July 17 the Yokohama Triennale opened to the public, to enhance cultural exchange between Japan and other countries and cultures through contemporary art. -
The 27Th Fiscal Period Analyst Meeting Material Appendix (July 1, 2019 To
th Period INVESTOR PRESENTATION27- Appendix - Fiscal Period ended December 31, 2019 Securities Code 3227 https://www.midcity-reit.com/en/ * Fractions of the stated amounts are cut off and those of the ratios and years are rounded off unless otherwise indicated. Therefore, the aggregation of the figures Index stated hereupon are not necessarily identical to the total. 1. ABOUT MCUBS MidCity Investment Corporation • Who We Are 4 • Growth in existing property NOI 34 • History 5 • Revisions and gaps in rents 35 • The asset management company: • Diversification of tenant contract types 36 Mitsubishi Corp.- UBS Realty Inc. (MC-UBS) 6 • Appraisal value by property 37 • Investment policy 7 • Unrealized gain/loss 38 • Track record 8 • Portfolio data (as of the end of Dec. 2019) 39-40 • Portfolio summary 9 • Revenue and expenses by property • Portfolio comparison with other Office REITs 10 (Fiscal period ended Dec. 31, 2019) 41-42 • Industry-leading acquisition capability 11 • Portfolio map / Portfolio overview 43-53 • Selected investment utilizing MidCity’s advantage 12 • Acquired Properties 55-58 • Asset management with a focus on tenant satisfaction & Stable financial base 13 4. FINANCING STRATEGY • Major financing-related figures and investment corporation bonds 60 • ESG-conscious portfolio management 14 • Financial status 61-62 2. FINANCIAL HIGHLIGHTS & FORECASTS FOR THE 28TH AND 29TH PERIOD • Outstanding borrowings (as of the end of Jan. 2020) 63-64 • Overview of financial results • Lender composition (as of the end of Jan. 2020) 65 for the fiscal period ended Dec. 31, 2019 (27th Period) 16-17 • Maturity ladder (as of the end of Jan. 2020) 66 • 27th Period financial results – Comparison to previous period 18 th 5. -
Activia Properties Inc. Financial Results Presentation for the 10Th Fiscal Period (Nov
Activia Properties Inc. Financial Results Presentation for the 10th Fiscal Period (Nov. 2016) Jan. 2017 (Ticker symbol: 3279/API) 1. Financial Highlights and Forecasts 2. External Growth, Internal Growth and Financial Strategies 3. Others 4. Acquisition Highlights 5. Appendix Highlights of the 10th Fiscal Period (ended Nov. 2016) and onwards 2 External Growth Internal Growth Financial Strategies ◆Acquired 3 Office Properties 【Tokyo Office Properties】 ◆Rating Upgrade to AA Located in Front of Station in Oct. 2016 and in Prime Area ◆Continuous Rent Upward Revision backed by our Long-term issuer AA- AA ■Total Acquisition Price ¥30,210 mn → Competitiveness rating : (positive) (stable) ■vs. Appraisal Value 96.4% ■ Ratio of Rent Increase 67 % (as of Sep. 2015) (as of Oct. 2016) ■Appraisal NOI Yield Ave. 4.6% at Lease Renewals ■ Ratio of Increase 10.7 % 【After the 4th PO】 ◆Decline in Average Interest 【Urban Retail Properties】 Rate # of properties:32 → 38 ◆Continuous Growth in ■Held Down ave. Interest Rate under Sales-linked Rent at Hotels Negative Interest Policy AUM: ¥326.7 bn → ¥389.1 bn ■Sales-linked Rent at Hotels Ave. term: 3.5 yrs → 4.1 yrs (9th period) (as of the result ¥206.6 mn announcement) ■Ave. RevPAR of 3 Hotels 131.4 % Interest rate : 0.77 % → 0.67 % (vs. 5th period) (9th period) (10th period) Continual Improvement in Unitholder Value Achieved Increase in DPU Achieved Ongoing Growth in NAV per Unit DPU:¥9,021 (10th period) NAV per unit : ¥385,750 (10th period) ( vs. previous period :+¥355 /+4.1 % ) ( vs. forecast :+¥211 /+2.4 % ) ( vs. previous period :+¥12,367/ +3.3 %) Highlights of the 4th Public Offering 3 Completed ¥31.7bn 4th Global Public Offering in Dec. -
Feature Railway Landscape Design and Relationship with Form, Function and Aesthetic
F Railway Universal Designs and Architectural Features eature Railway Landscape Design and Relationship with Form, Function and Aesthetic Ewa Maria Kido ‘Railway landscape design’ refers to the becoming an important consideration in depends on its relationships with form, landscape of railway stations and their urban redevelopment projects and function and aesthetic. With changing facilities. This article describes the sustainable development of communities. times, these relationships have changed importance of the landscape of railway In Japan of the past, the ‘quality of places’ according to contemporary architectural stations, which includes as its elements was not as widely recognized as in Europe styles. For engineers, function is always both the agreeability of the station (an and was seldom discussed in earnest. most important and structures they design element depending largely on the form, However, in recent years, it is being and build always have defined functions. functions, and aesthetic of the station) as recognized increasingly due to changing Railway stations are constructed as the well as the safety and accessibility social conditions and growing public major facility for railway passengers and (convenience) of the station. The interest in a better living environment. have various purposes. In the past, landscape of a railway includes as its basic railway stations in Europe and the USA elements such visual images as space, influenced the quality of contemporary lighting, scale, and detail of the railway. Landscape and Design architectural styles and remained standard It also embraces the landmarks, railway, structures until the station buildings were brand design of the operator and even The term ‘landscape’ generally refers to revolutionized in terms of structure, form public art, commercial activity, the aesthetic and refined elegance of a and function.