DOCSLIB.ORG

Fiscal Period Ended September 2018 (33Rd Fiscal Period) Information Package

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Fiscal Period Ended September 2018 (33Rd Fiscal Period) Information Package (Securities Code: 8961) https://www.mt-reit.jp/en/ Fiscal Period Ended September 2018 (33rd Fiscal Period) Information Package (Asset Management Company) MEMO Contents 1. Overview of the Settlement and Forecasts 3 4. Initiatives Related to ESG 24 Fiscal Period Ended September 2018 Settlement Highlights 4 Initiatives Related to ESG 25 Overview of the Settlement for the Fiscal Period Ended September 5 5. Characteristics of MORI TRUST Sogo Reit, Inc. 28 2018 Basic Policy and Characteristics of MORI TRUST Sogo Reit, Inc. 29 Factors for Change in Distributions per Unit 6 (the fiscal period ended September 2018) Mori Trust Group 31 Forecasts for the Fiscal Period ending March 2019 7 Major Properties Held, Developed, etc. in Central Tokyo by Mori Trust Group 32 Factors for Change in Distributions per Unit 8 (the fiscal period ending March 2019) 6. Reference 33 Fiscal Period Ending September 2019 Forecasts and Changes in 9 Balance Sheets 34 Internal Reserves Statements of Income and Retained Earnings 35 Changes in Distributions 10 Statement of Cash Distributions / Statements of Cash Flows 36 11 2. Portfolio Operations Data Changes in Indicators 37 Investment Strategy 12 Changes in Occupancy Rate 38 Initiatives for Internal Growth (1) (Major Situations of Occupancy of 13 Portfolio Summary and Breakdown of Property-Related 39 Individual Properties) Revenues/Expenses Initiatives for Internal Growth (2) (Situation of Rent Revision and 14 Changes in Asset Size, LTV and Distribution Per Unit 42 Initiatives for Cost Reduction) Changes in Unit Prices 43 Property Portfolio List as of the End of the Fiscal Period 15 Asset Management Company Remuneration Methods 44 Appraisal Values of Portfolio Properties at the Fiscal Period-End 16 Overview of Occupancy Rate and Lease Contracts at the Fiscal 17 Period-End Disclaimer / Contact Information 3. Financial Operations Data 19 Loans Made in the Fiscal Period Under Review and 20 Loan Repayment Schedule Diversification Interest-Bearing Liabilities and Rating 21 Interest-Bearing Liabilities 22 (Reference) Investors 23 Cover picture: Kioicho Building Disclaimer: This document is intended to provide information about the business performance and strategies of MORI TRUST Sogo Reit, Inc. (MTR). It is not intended and should not be construed as an inducement or invitation to purchase or invest in the products or investment units of MTR. We caution readers to contact their securities company representative if intending to acquire or sell any of MTR’s investment products or investment units, and to undertake investment decisions subject to individual determination. Statements in this document that are not historical facts are “forward-looking statements.” While MTR takes all reasonable care in the preparation of this document, it does not guarantee the accuracy and completeness of its content. Readers are also cautioned that the contents of this document may be changed or deleted without prior notice. 2 1. Overview of the Settlement and Forecasts 3 Fiscal Period Ended September 2018 (33rd Fiscal Period) Information Package Fiscal Period Ended September 2018 Settlement Highlights 1. Overview of the Settlement and Forecasts Distribution Per Unit ¥3,650 (+/- 0 vs. the fiscal period ended March 2018, +/- 0 vs. forecast) Distribution per unit excluding the portion appropriated from retained earnings was ¥3,638 (up ¥23 from the previous fiscal period, up ¥57 vs. forecast) As of September, 2018 (change from the previous fiscal period in parentheses) Asset Debt Number of property: 15 properties (–) Balance of interest-bearing debt: ¥155.0 billion (–) Average interest rate for borrowings Asset size: ¥324.0 billion (–) (Note 1) during fiscal period: 0.59% (down 0.03%) LTV: 47.1% (down 0.1%) Occupancy rate: 99.6% (down 0.2%) * Sublease basis 99.5% (up 0.05%) (Note 2) Long-term rating of issuers: AA (stable) / Japan Credit Rating Agency, Ltd. JCR Appraisal values of portfolio properties at the fiscal period end: ¥351.3 billion (up ¥7.0 billion) Equity Unrealized profit: ¥41.4 billion (up ¥8.0 billion) (Note 3) Number of units issued: 1,320,000 units (–) NAV per unit: ¥152,538 (up 4.2%) Investment ratio: [by area] Tokyo metropolitan area 80.2% (–) [by use] Office building 71.2% (–) Investment unit price: ¥162,000 / closing price on September 28, 2018) (Note 1) Asset size is the total acquisition price. (Note 2) For the properties that adopt the master lease contract with the system of linking rental revenue with rents under the sublease contract or the master lease contract of the pass-through type, the occupancy rate calculated based on the occupancy rate under the sublease contract is stated. (Note 3) Unrealized profit is the difference between total appraisal value at the end of the fiscal period and total book value at the end of the fiscal period. 4 Fiscal Period Ended September 2018 (33rd Fiscal Period) Information Package Overview of the Settlement for the Fiscal Period Ended September 2018 1. Overview of the Settlement and Forecasts In addition to occupancy of Hiroo MTR Building (Note 1) that was acquired in the previous fiscal period, throughout the fiscal period, rental revenue grew mainly due to the steady filling of vacant lots, and reduced repair expenses and loan costs. As a result, operating revenues were up ¥133 million from the previous fiscal period and up ¥38 million from the forecast, and ordinary income was up ¥30 million from the previous fiscal period and up ¥74 million from the forecast. (Unit: Million yen) Period ended Period ended Period ended ▮ Main factors for change March 2018 September 2018 September 2018 Vs. previous Vs. forecast actual forecast actual fiscal period Vs. previous fiscal period (Unit: Million yen) (A) (B) (C) (C-A) (C-B) Operating revenues Operating revenues 8,686 8,780 8,819 133 38 Rental revenues (a) 8,686 8,780 8,819 133 38 ● Increase in revenues due to occupancy of Hiroo MTR 76 Building throughout the full fiscal period Operating expenses 3,438 3,579 3,556 118 -23 ● Change in revenues due to move-in/out of tenants, etc. 24 Property-related expenses (b) 2,990 3,130 3,091 100 -38 ● Increase in utilities revenues due to seasonal factors, 17 Property and other taxes 876 899 898 21 -1 etc. Overhead expenses 831 968 931 100 -36 ● Temporary factors relating to Tenjin Prime 30 (penalty due to vacation of tenant, etc.) Depreciation (c) 1,282 1,262 1,262 -20 -0 Selling, general and adminis 447 448 464 17 15 Operating expenses Profits and losses from real (d)=(a)-(b) estatebusiness 5,695 5,650 5,727 32 77 ● Increase in expenses due to the occupancy of Hiroo 36 MTR Building throughout the fiscal period, etc. (Note 2) Earnings before depreciation (d)+(c) ● Increase in fixed asset tax, etc. (Note 3) 36 and amortization (NOI) 6,978 6,913 6,990 12 76 ● Increase in utilities expenses due to seasonal 42 Operating income 5,248 5,201 5,263 15 62 fluctuation etc. Non-operating revenues 10 1 3 -6 1 ● Increase in brokerage fees, etc. 33 Non-operating expenses 486 475 464 -22 -10 ● Decrease in depreciation -28 Ordinary income 4,771 4,727 4,802 30 74 Non-operating expenses Profit before income taxes 4,771 4,727 4,802 30 74 ● Decrease in interest expenses -22 Income taxes - current 010-0 -0 Income taxes - deferred (*) -14 -28 -5 9 23 Vs. forecast Profit 4,785 4,755 4,806 21 51 (Unit: Million yen) Operating revenues Reversal of reserves for reduction entry (*) 32 62 11 -21 -51 ● Higher-than-forecast rents, etc. 28 Total distribution 4,818 4,818 4,818 －－● Higher-than-forecast utilities revenues due to seasonal 10 Distribution per unit (yen) 3,650 3,650 3,650 －－factors, etc. Total number of outstanding investment units 1,320,000 1,320,000 1,320,000 －－ Operating expenses ■ Internal reserves (*) (Unit: Million yen) ● Higher-than-forecast utilities expenses due to seasonal 11 Period ended Period ended Period ended factors, etc. March 2018 September 2018 September 2018 Vs. previous ● Higher-than-forecast brokerage fees, etc. 6 Vs. forecast actual Forecast Actual fiscal period ● Lower-then-forecast repair expenses etc. -54 Amount of reduction 47 91 16 -30 -74 Non-operating expenses (Note 1) On August 1, 2018, the name was changed from Hiroo SK Building. ● Lower-than-forecast interest expenses -10 (Note 2) Utilities expenses, repair expenses, depreciation and other operating expenses for Hiroo MTR Building are included in this item. (Note 3) Properties whose fixed asset taxes are linked to rents are excluded. 5 Factors for Change in Distributions per Unit Fiscal Period Ended September 2018 (33rd Fiscal Period) Information Package (the fiscal period ended September 2018) 1. Overview of the Settlement and Forecasts Distribution per unit excluding the portion appropriated from retained earnings was up ¥23 from the previous fiscal period and up ¥57 from the forecast. 23 (Unit: Yen) 18 Temporary factors 16 3,650 relating to Tenjin 3,650 3,650 30 Prime -27 (penalty due Increase in 12 Portion Change in to vacation of fixed asset tax, 21 appropriated revenues due to tenant, etc.) etc. -18 from 35 move-in/out of (Note 2) Decrease in -15 3,638 retained tenants, etc. Increase in utilities interest expenses earnings expenses due to Other seasonal fluctuation +¥23 etc. 69 Increase in Decrease in 3,615 revenues due to -25 depreciation occupancy of Hiroo Increase in MTR Building brokerage fees, throughout the etc. fiscal period (Note 1) +¥57 Distribution 3,581 excluding the portion appropriated from retained earnings Period ended Period ended Period ended March 2018 September September Results 2018 2018 Results Forecast Current Announced fiscal period May 2018 (Note 1) Operating revenues, utilities expenses, repair expenses, depreciation and other operating expenses for Hiroo MTR Building are included in this item.
Load more

Recommended publications
  • Integrated Report 2019
    Integrated Report 2019 Sumitomo Realty & Development Co., Ltd. 1 Sumitomo’s Business Philosophy The Sumitomo Realty Group, as the heir of Sumitomo Honsha, Ltd., has developed into a comprehensive real estate enterprise of Continue creating the Sumitomo Group with a history of 400 years. The business philosophy—“Placing prime importance on integrity and sound management in the conduct of its business” and “Under no circumstances, shall it pursue easy gains”—which have been new value with handed down as a guiding principle throughout the Sumitomo’s history, live on in the form of our corporate slogan, “Integrity and "Integrity and Innovation.” Innovation" Placing top priority on Integrity, we will go beyond simple development and relentlessly pursue value creation through our innovative and challenging spirit. Fundamental Mission “Create even better social assets for the next generation.” We have set forth our fundamental mission as “to create even better social assets for the next generation” through our businesses closely associated with people’s daily lives. Based on this fundamental stance, the Sumitomo Realty Group is engaging in business with the aim of creating cities and urban spaces that are resilient to disasters, friendly to people and the environment, and harmonious with history and culture. Contents 2 Sustainable Growth as Tokyo’s No.1 Office Owner 28 Addressing Social Issues through Business Activities 46 Financial Section History of Corporate Value Creation by "Land Innovation" 30 Feature 1 Sustainable urban redevelopment—Osaki
    [Show full text]
  • Tel.03-3246-3236 時代を動かすランドマーク̶̶ 汐留シティセンター。
    Specifications 物件概要 Building Profile 名 称 汐留シティセンター Name Shiodome City Center 所在地 東京都港区東新橋1丁目5番2号 Location Higashi-Shimbashi 1-Chome 5-2, Minato-ku, Tokyo 交 通 都営大江戸線「汐留」駅、新交通ゆりかもめ「新橋」駅：徒歩1分 Access 1-minute walk : Oedo Line-Shiodome Station, Yurikamome Line-Shimbashi Station 都営浅草線「新橋」駅：徒歩2分 2-minute walk : Asakusa line-Shimbashi Station JR線、東京メトロ「新橋」駅：徒歩3分 3-minute walk : JR, Ginza Line-Shimbashi Station 主要用途 事務所、店舗 Primary uses Office and retail 構 造 鉄骨造、鉄骨鉄筋コンクリート造 Primary structure type Steel, steel framed reinforced concrete 敷地面積 19,708.33㎡（B街区全体） Site area 19,708.33㎡ (Block B) 延床面積 210,154.24 ㎡（63,571.66坪） Building area 210,154.24㎡ (63,571.66 tsubo) 総貸付面積（事務所） 106,219.57 ㎡（32,131.42坪）［コア内3,132.12㎡（947.46坪）］ Rentable area (offices) 106,219.57㎡（32,131.42 tsubo） ［within core 3,132.12㎡（947.46 tsubo）］ 階 数 地上43階、地下4階、塔屋1階 No. of stories 43 above-ground floors, 4 underground, 1 penthouse 最高高さ GL+215.75 m Max. height GL+215.75m 竣 工 2003年1月 Completion January, 2003 設 計 ケビンローシュ・ジョンディンカルー・アンド・アソシエイツ Architects Kevin Roche, John Dinkeloo and Associates 共同設計 日本設計 Co-Architect Nihon Sekkei Inc. 施 工 竹中工務店 Main contractor Takenaka Corporation プロジェクト・マネジメント 三井不動産 Project management Mitsui Fudosan Co., Ltd. Developers Alderney Investments Pte Ltd., Mitsui Fudosan Co., Ltd. 貸 主 アルダニー・インベストメンツ、三井不動産 Parking capacity 443 vehicles (for Shiodome City Center) 駐車台数 443台（汐留シティセンター分） Elevators (for passengers) Low-rise bank (1F, 4F-12F): Seven elevators (24 persons each) エレベーター設備(乗用) 低 層：24人乗×7基（1F・ 4F-12F） Mid-rise bank (1F, 13F-22F): Eight elevators (24 persons each)
    [Show full text]
  • Real Estate Sector 4 August 2015 Japan
    Deutsche Bank Group Markets Research Industry Date Real estate sector 4 August 2015 Japan Real Estate Yoji Otani, CMA Akiko Komine, CMA Research Analyst Research Analyst (+81) 3 5156-6756 (+81) 3 5156-6765 [email protected] [email protected] F.I.T.T. for investors Last dance Bubbles always come in different forms With the big cliff of April 2017 in sight, enjoy the last party like a driver careening to the cliff's brink. Japan is now painted in a completely optimistic light, with the pessimism which permeated Japan after the Great East Japan Earthquake in 2011 forgotten and expectations for the 2020 Tokyo Olympics riding high. The bank lending balance to the real estate sector is at a record high, and we expect bubble-like conditions in the real estate market to heighten due to increased investment in real estate to save on inheritance taxes. History repeats itself, but always in a slightly different form. We have no choice but to dance while the dance music continues to play. ________________________________________________________________________________________________________________ Deutsche Securities Inc. Deutsche Bank does and seeks to do business with companies covered in its research reports. Thus, investors should be aware that the firm may have a conflict of interest that could affect the objectivity of this report. Investors should consider this report as only a single factor in making their investment decision. DISCLOSURES AND ANALYST CERTIFICATIONS ARE LOCATED IN APPENDIX 1. MCI (P) 124/04/2015. Deutsche Bank Group Markets Research Japan Industry Date 4 August 2015 Real Estate Real estate sector FITT Research Yoji Otani, CMA Akiko Komine, CMA Research Analyst Research Analyst Last dance (+81) 3 5156-6756 (+81) 3 5156-6765 [email protected] [email protected] Bubbles always come in different forms Top picks With the big cliff of April 2017 in sight, enjoy the last party like a driver Mitsui Fudosan (8801.T),¥3,464 Buy careening to the cliff's brink.
    [Show full text]
  • (38Th Fiscal Period) Information Package
    Fiscal Period Ended March 2021 (38th Fiscal Period) Information Package (Securities Code: 8961) https://www.mt-reit.jp/en/ (Asset Management Company) MEMO Contents 1. Overview of the Settlement and Forecasts 3 5. Reference 32 Fiscal Period Ended March 2021 Settlement Highlights 4 Balance Sheets 33 Overview of the Settlement for the Fiscal Period Ended March 2021 5 Statements of Income and Retained Earnings 34 Factors for Change in Distributions per Unit 6 Statement of Cash Distributions / Statements of Cash Flows 35 (the fiscal period ended March 2021) Changes in Indicators 36 Forecasts for the Fiscal Period Ending September 2021 7 Factors for Change in Distributions per Unit 8 Changes in Asset Size, LTV and Distribution Per Unit 37 (the fiscal period ending September 2021) Property Portfolio List as of the End of the Fiscal Period 38 Forecasts for the Fiscal Period Ending March 2022 9 Appraisal Values of Portfolio Properties at the Fiscal Period-End 39 2. Operation Status 10 Changes in Occupancy Rate 40 External Growth (Recognition of Conditions and Future Policies) 11 Overview of Occupancy Rate and Lease Contracts at the Fiscal 41 Asset Replacement (Sale of Part of the Tokyo Shiodome Building and 12 Period-End Purchase of Kamiyacho Trust Tower) Portfolio Summary and Breakdown of Property-Related 42 New Property Acquisition (Kamiyacho Trust Tower) 13 Revenues/Expenses Internal Growth (Recognition of Conditions and Future Policies) 14 Interest-Bearing Liabilities 45 Internal Growth (The present leasing status of the Tokyo Shiodome 15 Investors 46 Building/Situation of Rent Revision for Six Office Buildings) Changes in Unit Prices 47 Future response policy regarding Shinbashi Ekimae MTR Building 16 Financial Status (Management Results for the Fiscal Period Under Review 17 Changes in Vacancy Rate and Rent per Unit in Major Cities 48 and Loan Repayment Schedule Diversification) Asset Management Company Remuneration Methods 49 Financial Status (Status of Interest-Bearing Liabilities and Rating) 18 3.
    [Show full text]
  • Sale of Asset (Mita MT Building)
    November 28, 2014 Press Release Issuer of Real Estate Investment Trust Securities MORI TRUST Sogo Reit, Inc. 2-11-7 Akasaka, Minato-ku, Tokyo Satoshi Horino, Executive Director (TSE code 8961) Asset Management Company: MORI TRUST Asset Management Co., Ltd. Satoshi Horino, President and Representative Director Contact: Michio Yamamoto Director and General Manager, Planning and Financial Department Phone: +81-3-3568-8311 Sale of Asset (Mita MT Building) Tokyo, November 28, 2014— Mori Trust Asset Management Co., Ltd. (hereinafter “the asset manager”), the asset management company which manages assets on behalf of Mori Trust Sogo Reit, Inc. (MTR), has announced the sale of an asset. Details are as follows: 1. Sale Summary (1) Type of asset: Real estate (2) Property name: Mita MT Building (hereinafter “the Property”) (3) Sale price: 13,000 million yen (excluding sale overheads and taxes) <reference> Appraisal value of the real estate: 12,000 million yen (appraisal date: October 31, 2014) (4) Book value: 15,616 million yen (at the end of September 2014) (5) Loss: Approximately 2.6 billion yen (Because of unconfirmed elements, including expenses for the sale, the amounts above are approximate estimates.) (6) Contract date: November 28, 2014 (7) Planned closing date: December 10, 2014 (8) Buyer: MORI TRUST CO., LTD. (Please refer to 4. Buyer Overview.) (9) Settlement method: Single payment at the time of delivery Disclaimer: This English language document is provided as a service and is not intended to be an official statement. Should a discrepancy be found, the Japanese original will always govern the meaning and interpretation. 2.
    [Show full text]
  • MARKET TREND SURVEY of LARGE-SCALE OFFICE BUILDINGS in TOKYO's 23 WARDS (“Ku”)
    MARKET TREND SURVEY OF LARGE-SCALE OFFICE BUILDINGS IN 23 TOKYO WARDS April 27, 2004 MARKET TREND SURVEY of LARGE-SCALE OFFICE BUILDINGS IN TOKYO’S 23 WARDS (“Ku”) (As of December 2003) The Year 2003 Revealed the Dawn of “Urban Regeneration” ～Supply Volume and Absorption Capacity in 2003 Reached Highest Levels Since the Survey was Started ～ ¾Concentration of office buildings to continue in the 3 central wards (Tokyo’s Central Business District) ¾By offering global-standard “Total Area Management Services”, fully mixed- use areas will set the pace for competition Since 1986, Mori Building Company Ltd. (Headquarters: Minato-ku, Tokyo; President and CEO: Minoru Mori) has been regularly conducting surveys of large office buildings with floor space of over 10,000 m2 (hereafter referred to as “Large-Scale Office Buildings”) throughout Tokyo’s 23 wards on the basis of publicly posted project plans (projected construction start and completion dates), on-site observation, and direct interviews with developers. In addition, we are now projecting office market trends, by analyzing from a variety of angles, data taken from a survey of the trends in demand (absorption capacity). The following are the findings of our latest research. ■Outline of Market Trend Survey Survey period : December end 2003 Coverage : Tokyo’s 23 wards Type of property : Large office buildings with total floor space of over 10,000 m2 (built after 1986) (Notes on the contents) ※ Supply volume in this survey refers to the gross total floor space of office accommodation in all large-scale office buildings completed after 1986, excluding floor space in those buildings reserved for other purposes, such as retail, residences, hotels and others.
    [Show full text]
  • Kamiyacho Trust Tower) and Partial Sale of Asset (Tokyo Shiodome Building
    March 25, 2021 Press Release Issuer of Real Estate Investment Trust Securities MORI TRUST Sogo Reit, Inc. 4-3-1 Toranomon, Minato-ku, Tokyo Masayuki Yagi, Executive Director (TSE code 8961) Asset Management Company: MORI TRUST Asset Management Co., Ltd. Michio Yamamoto President and Representative Director Contact: Hiroshi Naito General Manager, Strategic Management Department, Sogo REIT Management Division Phone: +81-3-6435-7011 Notice of Acquisition and Lease of Asset (Kamiyacho Trust Tower) and Partial Sale of Asset (Tokyo Shiodome Building) Tokyo, March 25, 2021—Mori Trust Asset Management Co., Ltd., the asset management company which manages assets on behalf of Mori Trust Sogo Reit, Inc. (MTR), has announced the acquisition ("the Acquisition") and the lease ("the Lease") of an asset and the partial sale ("the Sale"; "the Acquisition", "the Lease" and "the Sale" are hereinafter referred to collectively as "the Transactions") of an asset. Details are as follows: １． Summary of the Transactions Ⅰ. Summary of the Acquisition (1) Type of asset: Real estate trust beneficiary right （Note） (ⅰ) house number：901, 4-24-6 Toranomon Minato-ku, Tokyo (ⅱ) house number：801, 4-24-6 Toranomon Minato-ku, Tokyo (2) Property name: Kamiyacho Trust Tower (Hereinafter "the Property for Acquisition") (3) Acquisition price: (ⅰ) 13,980 million yen (ⅱ) 13,980 million yen Total 27,960 million yen (excluding purchase overheads and taxes) (4) Contract date: March 25, 2021 (5) Scheduled acquisition (ⅰ) July 1, 2021 date: (ⅱ) October 1, 2021 (6) Seller: MORI TRUST CO., LTD. MORI TRUST CO., LTD.(see 5. Seller and Buyer Overview below） (7) Acquisition financing: The sale proceeds from the Sale and MTR's own funds (scheduled) (8) Settlement method: Payment on each scheduled acquisition date (9) Forward commitment, The Acquisition falls under the category of Forward Commitment, etc.
    [Show full text]
  • Integrated Report 2020
    Sumitomo Realty & Development Co., Ltd. Ltd. Sumitomo Realty & Development Co., Integrated Report 2020 Integrated Shinjuku NS Building, 4-1, Nishi-Shinjuku 2-chome, Shinjuku-ku, Tokyo 163-0820, Japan http://www.sumitomo-rd.co.jp/english/ Integrated Report 2020 Printed in Japan 005_0316087912010.indd 1-3 2020/10/23 1:46:12 Continue creating new value Contents 2 Sustainable Growth as Tokyo’s No.1 Office Owner History of Corporate Value Creation by "Land Innovation" 4 Our Strengths with "Integrity and Innovation" 8 A Message from the Management 14 At a Glance Placing top priority on Integrity, we will go beyond simple development and relentlessly 16 Business activities to support value creation pursue value creation through our innovative and challenging spirit. 16 LEASING 20 SALES 22 CONSTRUCTION 24 BROKERAGE 25 GROUP COMPANIES 26 Sustainability 26 Addressing Social Issues through Business Activities 28 Feature The Reborn Project of Shinjuku Sumitomo Building and “Sankaku Hiroba” 30 Highlight 1 Sustainable Urban Redevelopment—Osaki Garden City— 32 Highlight 2 Remodeling—Shinchiku Sokkurisan 34 For Disaster-Resistant Community Development 36 For Environmentally Friendly Community Development 38 Urban Development that Contributes to the Community 40 Human Rights and Diversity 42 Health and Safety 44 Together with the Stakeholders 45 COVID-19 Prevention Measures 46 Corporate Governance 46 Board of Directors and Statutory Auditors 48 Matters concerning Corporate Governance 50 Other Information concerning Governance 51 Risk Management 52 Business
    [Show full text]
  • Mori Trust Group Financial Report for the Fiscal Year Ended March 2011
    May 19, 2011 MORI TRUST CO., LTD. Toranomon 2-chome Tower, 2-3-17 Toranomon Minato-ku, Tokyo 105-0001 JAPAN TEL +81-3-5511-2255 FAX +81-3-5511-2259 PRESS RELEASE Financial Report for the Fiscal Year Ended March 2011 Mori Trust Group recently announced its consolidated business performance for the year ended March 31, 2011. The Group consists of 23 consolidated companies, including MORI TRUST CO., LTD., MORI TRUST BUILDING MANAGEMENT CO., LTD., and MORI KANKO TRUST CO., LTD., and three equity-method affiliates. [Mori Trust Group Consolidated Financial Report] (April 1, 2010 – March 31, 2011) (Figures in millions of yen; figures less than one million yen are rounded down.) FY 2012 FY 2010 FY 2011 (projection) 1 Operating revenue 133,259 111,962 115,000 Leasing 62,544 58,515 56,000 Hotel 27,801 19,492 15,000 Real estate sales 30,572 19,889 30,000 Other 12,341 14,065 14,000 (Subsidiaries’ construction subcontracting, etc.) 2 Operating income 25,028 20,110 21,000 3 Ordinary income 20,573 17,135 18,000 4 Net income 8,899 14,742 10,000 FY 2011 Operating Results ○ In the fiscal year ended March 31, 2011, operating revenue totaled 111.9 billion yen and ordinary income was 17.1 billion yen. Factors including gain on the sale of the Tokyo Shiodome Building resulted in net income of 14.7 billion yen, up 66% from the previous year. 1 Overview of FY 2011 business performance ○ Leasing business accounted for 58.5 billion yen of operating revenue.
    [Show full text]
  • The Next Wave
    Annual Report 2006 >> The Next Wave www.softbank.co.jp CONTENTS Corporate Profile .................................................... 01 Consolidated Financial Highlights ............................ 02 Snapshot of the SOFTBANK Group— Growth Foundation and Strategies .......................... 04 To Our Stakeholders................................................ 06 Maintaining a High Rate of Growth while Bolstering Our Financial Position .................... 11 [To Our Stakeholders] Appendix The Next Wave—A New Stage of Growth ............ 13 Business Segments .................................................. 19 Management Organization and Operation— The Next Wave— Aiming for Sustained Growth .................................. 33 A New Stage of Growth Industry and SOFTBANK Group Data ...................... 39 • Looking Back at Our Growth Path Status of Investments .............................................. 44 • Fundamental Strategy for Further Growth Major Subsidiaries and Affiliates .............................. 46 Strategic Focus Businesses— Video and Mobile Financial Section...................................................... 51 Eleven-Year Summary.............................................. 52 Corporate Data and Stock Information .................. 107 PRECAUTIONS REGARDING FORWARD-LOOKING STATEMENTS This annual report includes information regarding medium- and long-term strategies, plans, and outlooks. All information that is not based on historical facts does not represent a guarantee regarding future operating results
    [Show full text]
  • Minato City Guide
    Tourist spot ※More tourist spots are listed on the back of this map. Shiba Daijingu 1 MAP F-5 www.shibadaijingu.com/ An old shrine that was constructed in the middle of the Heian Period. Shiba Park 2 MAP E-5 One of Japan's oldest public parks. It is a place in Tokyo for relaxation and refreshment. Mori Art Museum 3 MAP C-4 https://www.mori.art.museum/en/ This international art museum, which focuses primarily on modern art, is located on the 53rd oor of the Roppongi Hills Mori Tower. In addition to running its own exhibitions designed from unique perspectives, Mori Art Museum also stages diverse array of programs that includes collection exhibits and the showcasing of video works.The museum is open until 10 P.M. (5 P.M. on Tuesdays). 4 Monuments presented by the embassies of 12 countries MAP D-4 Here, there are monuments presented by the neighboring embassies. A sight unique to a neighborhood with many embassies. Statue of Kimi-chan 5 MAP D-5 A statue commemorating Kimi-chan, the model for the children's song "Red Shoes". Tourist spot ※More tourist spots are listed on the back of this map. 6 United Church of Christ in Japan 7 Nogi-jinja Shrine 8 Toyokawa Inari Tokyo Branch Temple 9 Nezu Museum 10 Happo-en 11 Shibaura-minami Futo Park 12 Odaiba Marine Park Ando Memorial Chapel MAP C-2 MAP D-2 MAP B-3 MAP B-7 MAP F-8 MAP H-9 http://www.toyokawainari-tokyo.jp/ http://www.nezu-muse.or.jp/ http://www.happo-en.com/ MAP C-5 The shrine honoring General Nogi A marine park below the Rainbow A seaside beach park on Tokyo Bay An irreplaceable church that was erected in and his wife.
    [Show full text]
  • FOCUS on QUALITY BEYOND 2020 +81 3 4572 1009 Tokyo Office Market 2020 Q1 Review and Outlook [email protected]
    COLLIERS QUARTERLY OFFICE | TOKYO | RESEARCH | Q1 2020 | 15 APRIL 2020 Mari Kumagai Head of Research | Tokyo FOCUS ON QUALITY BEYOND 2020 +81 3 4572 1009 Tokyo Office Market 2020 Q1 Review and Outlook [email protected] Insights & 2020–24 Recommendations Q1 2020 Full Year 2020 Annual Average A large proportion of supply through mid-2021 We expect a delayed market has already been absorbed through pre- downturn from late 2020 commitments. We expect any fall in demand followed by prolonged recovery Demand from the pandemic to appear first in lower 383,740 sq m 316,000 sq m 492,000 sq m from 2021. For 2020, Tokyo still grade buildings from Q2 2020 onwards. should see positive net absorption despite a demand shock slightly This year’s new supply is almost double that of larger than the Global Financial 2019. Some projects should see delivery delays Crisis (GFC). Landlords are now due to labor shortages as a result of business disruptions from COVID-19. 215,200 sq m 918,800 sq m 508,000 sq m better positioned, having built a Supply better buffer of high pre- Annual Average commitments, tracking above QOQ/ YOY / Growth 2019–24 / 92% for 2020 and 52% for2021. End Q1 End 2020 End 2024 We recommend occupiers: In Q1 2020, the high pre-commitment rate by 0.3% -0.8% 0.0% > Plan lease renewals ahead of a well-established large occupiers has supported recovery to realize immediate rents. Undistinguished buildings are starting to face pricing pressure; however, this is near- rental saving. Rent JPY 39,900 JPY 39,100 JPY 39,800 absent for wellness-certified buildings.
    [Show full text]