The 14Th Fiscal Period Business Report (January 1, 2013 to June 30
14 th Fiscal Period Business Report January 1, 2013 to June 30, 2013 http://www.midreit.jp/ MID REIT, Inc. 1-4-4 Dojimahama, Kita-ku, Osaka Leadership Message Q.1: How do you evaluate MID REIT’s increasing cases of concrete talks on intentions to performance in the 14th fiscal period? move to a building of a rent level that would be economically rational in view of floor space In the 14th fiscal period (ended June 2013), we expansion or cost reduction without lowering transferred Panasonic Osaka Kyobashi Building building specifications/grade. (Shiromi, Chuo-ku, Osaka) and acquired In addition, at Twin 21, we implemented Higobashi MID Building (Edobori, Nishi-ku, renewal of the entrance portion, which is Osaka) in June. Although this asset replacement is connected to Kyobashi Station by a pedestrian one that involved a large loss on sale of real estate deck, and the 2F to 4F elevator hall of MID in the short term and thus a large downward Tower, which is frequently used by tenants and revision in business performance for the 14th fiscal the customers of restaurants, etc. Concerning the period, we managed to maintain/enhance portfolio typical floor plate of common areas, on top of profitability and quality through the new asset completing elevator hall renewal in the 14th fiscal acquisition. period, restroom and staff kitchen renewal are also Concerning leasing, tenant movements for such At the entrance of newly-acquired property “Higobashi MID Building” being implemented one after another. In this reasons as to improve location and consolidate/ manner, we managed to aim for enhancement of integrate bases in a manner that is in concert with satisfaction and convenience for existing tenants adjusted market rent in the leasing market or to and to maintain/enhance property competitiveness Leadership Message address business continuity planning (BCP) have in leasing.
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