DOCSLIB.ORG

Fiscal Period Ended December 31, 2018

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text

Load more

https://www.midcity-reit.com/en/ th Period INVESTOR PRESENTATION25– Appendix – Fiscal Period ended December 31, 2018 Securities Code 3227 * 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 Index the figures stated hereupon are not necessarily identical to the total. 1. ABOUT MCUBS MidCity INVESTMENT CORPORATION 5. PORTFOLIO • Who We Are 4 • Portfolio profitability 39 • History 5 • Portfolio overview (as of the end of Dec. 2018) 40 • Mitsubishi Corp.-UBS Realty Inc. Group (MC-UBS Group) 6 • Portfolio data (as of the end of Dec. 2018) 1 41 • Investment Policy 7 • Portfolio data (as of the end of Dec. 2018) 2 42 • Track Record 8 • Revenue and expenses by property 1 (Fiscal period ended Dec. 31, 2018) 43 • Portfolio Summary 9 • Revenue and expenses by property 2 (Fiscal period ended Dec. 31, 2018) 44 • Office Portfolio: Comparison with other REITs 10 • Appraisal values by property 45 • Industry-leading acquisition capability 11 • Unrealized gain/loss 46 • Asset management with a focus on tenant satisfaction 12 • Portfolio map / Portfolio overview 47-56 • Stable financial base 13 6. FINANCING STRATEGY • ESG-conscious portfolio management 14 • Major financing-related figures and investment corporation bonds 58 2. FINANCIAL HIGHLIGHTS • Financial status 1 59 • Overview of financial results • Financial status 2 60 for the fiscal period ended December 31, 2018 (25th Period) 1 16 • Lender composition (as of the end of Dec. 2018) 61 • Overview of financial results • Outstanding borrowings (as of the end of Dec. 2018) 62 for the fiscal period ended December 31, 2018 (25th Period) 2 17 • Maturity ladder (as of the end of Dec. 2018) 63 • 25th Period financial results – Comparison to previous period 18 • Internal Reserves 64 th • 25 Period financial results – Comparison to initial forecasts 19 7. MARKET ENVIRONMENT th • 25 Period financial results – Breakdown of change from previous period 20 • Office market data (Tokyo 23 districts) 66-67 • Balance sheet 21 • Grade-A Office Buildings to be Supplied in the Tokyo Business Area 68 • Income statement 22 • Office market data (Nagoya) 69-70 3. FORECASTS FOR THE 26TH AND 27TH FISCAL PERIOD • Office market data (Osaka) 71-72 • Forecasts for the 26th and 27th fiscal periods 24 • Office Buildings to be Supplied in the Osaka Business Area 73 • Breakdown of change from previous period 25 • Office Building Supply and Demand 74 4. RESULTS FOR THE 25TH FISCAL PERIOD 8. APPROACH TO ESG • Occupancy 27 • Environmental initiatives 76 • Portfolio operation 28 • Social initiatives 1 77 • Occupancy by property 29 • Social initiatives 2 78 • Monthly rents 30 • Governance initiatives 79 • Revisions and gaps in rents 31 • Efforts to expand investor base 80 • Diversification of tenant contract types 32 9. OTHER TOPICS • Growth in existing property NOI 33 • Unitholder details 82 • Repair expenses and capex 34 • Overview of asset management company 83 th • New acquisition in the 25 period: Yokohama i-land Tower 35 • Historical unit price 84 • Selected investment utilizing MidCity’s advantage 36 2 1. ABOUT MCUBS MidCity INVESTMENT CORPORATION 3 Who We Are MC-UBS Group’s office-focused REIT, aiming to enhance unitholder value Area-diversified portfolio primarily made up of medium-sized office buildings 1 Industry-leading acquisition capability 2 Asset management with a focus on tenant satisfaction 3 Stable financial base 4 ESG-conscious portfolio management Name MCUBS MidCity Investment Corporation (“MidCity”) TSE Code 3227 Fund listing August 29, 2006 Fiscal period June and December Asset Management Company MCUBS MidCity Inc. Note: Effective April 1, 2019, the asset management company will become a wholly-owned subsidiary of Mitsubishi Corp. - UBS Realty Inc. For details, please refer to Notice Concerning Change in Major Shareholder of Asset Management Company dated January 30, 2019 (the same shall apply hereafter) 4 History August 2006: Listed as a REIT investing in offices in Osaka ■ December 2009: The Kansai Electric Power Company, Incorporated became the largest shareholder of ■ the asset management company April 2015: MC-UBS became the main sponsor ■ June 2015: Trade name changed to MCUBS MidCity as a REIT focusing on the three major metropolitan areas April 2019: MC-UBS will acquire all interest in the asset management company, making it a wholly-owned subsidiary ■ April MC-UBS will acquire an additional 15% of interest in the asset management company, April making it a wholly-owned subsidiary MC-UBS acquired an additional 20% of interest in the asset management company April MC-UBS acquired 65% of interest in the asset management company and changed the trade name of the asset management company to MCUBS MidCity Inc. June Trade name changed to MCUBS MidCity Investment Corporation December The Kansai Electric Power Company, Incorporated became the largest shareholder of MID Urban Development Co., Ltd. (currently, Kanden Realty & Development), the sponsor of the asset management company August listed March MID REIT, Inc. Asset management company MID REIT Management Co., Ltd. was established (sponsor: MID Urban Development Co., Ltd. (formerly, Matsushita Kosan)) 5 Mitsubishi Corp.-UBS Realty Inc. Group (MC-UBS Group) 17 years of experience in operating J-REITs ■ MC-UBS Group operates three REITs: MCUBS MidCity, JRF, and IIF ■ Largest J-REIT AUM of 1.4 tn. yen ■ One of the largest buyers of commercial real estate in Japan ■ MC-UBS Group (as of April 1, 2019 (tentative)) No. of employees Over 170 employees total Sponsor Investment ratio Asset manager Mitsubishi Corp.-UBS Realty Inc. 100.0% 147 total employees (as of December 31, 2018) Asset management company Investment corporation 26 total employees (as of February 15, 2019) Japan Retail Fund Industrial & Investment Corporation Infrastructure Fund Investment Corporation (Specialize in retail properties) (Specialize in industrial properties) 6 Investment Policy Focusing on office buildings in three major metropolitan areas 22properties JPY256.5bn *After asset replacement (Mar. 2019) Target areas: Three major metropolitan areas (Tokyo, Osaka and Nagoya) Three major metropolitan areas (Tokyo, Osaka and Nagoya) Other areas 70% or more 30% or less Target properties (asset type): Office Buildings Real estate other than office properties Office (Hotels and serviced apartments) Tokyo area 70% or more % or less Nagoya area 30 Osaka area * ex. commercial facilities and industrial real estate 7 Track Record Distribution per unit NAV per unit DPU growth +49.6% 2,695 yen NAV per unit growth +41.2% Gains on 2,545 yen Sale, etc. (17th period vs. 25th period (ex. Gains on Sale, etc.)) (17th period vs. 25th period) Gains on 836 yen 89,951 yen Sale, etc. 762 yen 1,870 yen 89,671yen 86,050 yen 1,859～yen 84,785 yen 1,684 yen 1,783～yen 81,211 yen 1,622 yen 1,580 yen 75,319 yen 1,486 yen 72,690 yen 1,456 yen 1,420 yen yen Before main 68,970 sponsor change Before main 1,288 yen 64,356 yen sponsor change 63,504 yen 1,191yen Dec. Jun. Dec. Jun. Dec. Jun. Dec. Jun. Dec. Jun. Dec. 2014Dec.年 2015Jun.年 2015Dec.年 2016Jun.年 2016Dec.年 2017Jun.年 2017Dec.年 2018Jun.年 2018Dec.年 見込みMar. 2014 2015 2015 2016 2016 2017 2017 2018 2018 2019 2019 122014月期 62015月期 122015月期 62016月期 122016月期 62017月期 122017月期 62018月期 122018月期 2019 17th 18th 19th 20th 21st 22nd 23rd 24th 25th 26th 27th 第1717th期 第1818th期 第1919th期 第2020th期 第2121st期 第2222nd期 第2323rd期 第2424th期 第2525th期 Period Period Period Period Period Period Period Period Period Period Period Period Period Period Period Period Period Period Period Period Estimate (E) (E) NAV per unit includes reserve for reduction entry ＊ 8 Portfolio Summary Focus on medium-sized office buildings in the three major metropolitan areas Portfolio by asset type <Based on acquisition price> ■ Hotel Retail facilities 0.9% 11.3% Office portfolio by area <Based on acquisition price> Office portfolio by asset size <Based on leased area> ■ ■ Nagoya area Others The five central wards of 2.2% 2.4% Tokyo (Chiyoda-ku, Chuo-ku, Minato-ku, Shinjuku-ku and Shibuya-ku) 25.8% Office ‐10,000 100,000 ‐ 87.9% ㎡ ㎡ Osaka area Tokyo area 30.3% 31.2% 50,000 ‐ 55.8% 100,000㎡ 39.6% ㎡ 10,000 ‐ 50,000㎡ Other ㎡ 0.0% Tokyo area 38.6% 30.0% Note 1: On the 25th period basis (Matsushita IMP Bldg., which is to be disposed in March 2019, is not included). Note 2: Breakdowns by size and by area include only office buildings. However, the breakdown by size is based on total floor area of all properties in the portfolio (TK interest of Nagoya Lucent Tower is not included). 9 Office Portfolio: Comparison with other REITs Tokyo area properties are diversified between central and Portfolio primarily made up of medium-sized office surrounding areas, strong at properties in Osaka buildings By area Based on acquisition price By size (based on total floor area) ＜ （ ）＞ ＜ ＞ 0% 20% 40% 60% 80% 100% 0% 20% 40% 60% 80% 100% 2.2% MidCity 25.8% 30.0% 39.6% MidCity 31.2% 38.6% 30.3% 2.4% A A B B C C D D E E F F G G H H Tokyo’s 5 central wards Other Tokyo area Osaka area (Only Osaka) 100,000 ‐ 50,000 ‐100,000 10,000 ‐50,000 ‐10,000 Nagoya area Others ㎡ ㎡ ㎡ ㎡ ㎡ ㎡ Note: REITs A-H are office REITs listed in order of total acquisition price. Office REITs refer to office-specialized REITs listed in ARES J-REIT DIGEST. Diversification by size is based on total floor area of all of the properties held by each REIT (main buildings only). 10 1 Industry-leading acquisition capability Trend of asset size After main sponsor change New Acquisition Dispositions Total Asset Size (acquisition price basis) 136.0 bn.
Recommended publications
  • 2012 Annual Report Pursuing Our Unlimited Potential Annual Report 2012

    2012 Annual Report Pursuing Our Unlimited Potential Annual Report 2012

    For the year ended March 31, 2012 Pursuing Our Unlimited Potential Annual Report 2012 Annual Report 2012 EAST JAPAN RAILWAY COMPANY JR East’s Strengths 1 AN OVERWHELMINGLY SOLID AND ADVANTAGEOUS RAILWAY NETWORK The railway business of the JR East Being based in the Tokyo metro- Group covers the eastern half of politan area is a major source of our Honshu island, which includes the strength. Routes originating in the Tokyo metropolitan area. We provide Kanto area (JR East Tokyo Branch transportation services via our Office, Yokohama Branch Office, Shinkansen network, which connects Hachioji Branch Office, Omiya Tokyo with regional cities in five Branch Office, Takasaki Branch directions, Kanto area network, and Office, Mito Branch Office, and intercity and regional networks. Our Chiba Branch Office) account for JR EAST’S SERVICE AREA networks combine to cover 7,512.6 68% of transportation revenue. kilometers and serve 17 million Japan’s total population may be people daily. We are the largest declining, but the population of the railway company in Japan and one of Tokyo metropolitan area (Tokyo, TOKYO the largest in the world. Kanagawa Prefecture, Saitama Prefecture, and Chiba On a daily basis, about 17million passengers travel a network of 70 train lines stretching 7,512.6 operating kilometers An Overwhelmingly Solid and Advantageous Railway Network Annual Report 2012 SECTION 1 OVERALL GROWTH STRATEGY Prefecture) continues to rise, mean- OPERATING REVENUES OPERATING INCOME ing our railway networks are sup- For the year ended March 31, 2012 For the year ended March 31, 2012 ported by an extremely sturdy Others 7.9% Transportation Others 6.1% Transportation operating foundation.
  • Presentation File(PDF 4.3

    Presentation File(PDF 4.3

    JR East Group Management Vision “Move Up” 2027 Investor Meeting July 4, 2018 Table of Contents 1. Changes in the business environment P3 2. JR East Group’s strengths P5 3. Basic Policies of “Move Up” 2027 P6 4. “Move Up” 2027 (1) Overview P8 (2) Making cities more comfortable P12 (3) Making regional areas more affluent P21 (4) Developing businesses for the world P23 (5) Numerical targets (FY2023), etc. P24 Environmental Group “Move Up” 2027 “Move Up” 2027 1. Changes in the business environment: Decreasing population change strengths Basic Policies Overview Urban cities Regional areas World Targets ■ After 2025, the population in Tokyo metropolitan area (Tokyo, Saitama, Chiba, Kanagawa) is expected to decrease gradually. ■ In Tohoku region (Aomori, Iwate, Miyagi, Akita, Yamagata, Fukushima), the population is expected to decrease by nearly 30% by 2040. (Population in 2015 = 100) 100% Tokyo metropolitan area 90% JR East service area National 80% By 2040 Tohoku region 70% 2015 2020 2025 2030 2035 2040 (Year) Decrease by nearly 30% Source: IPSS (National Institute of Population and Social Security Research) Population Projections by Prefecture (2018) 3 Environmental Group “Move Up” 2027 “Move Up” 2027 1. Changes in the business environment: Decreasing need for railway transportation change strengths Basic Policies Overview Urban cities Regional areas World Targets ■ After 2020, due to decreasing population, changes in the working style, development of internet society and practical application of autonomous driving technologies, the need for railway transportation is expected to decline. Since our railway business has large xed costs, we face a high risk of a drastic prot loss.
  • Investor Presentation -Appendix- (Ended Jun. 2017)

    Investor Presentation -Appendix- (Ended Jun. 2017)

    nd Period Fiscal Period22 ended June 30, 2017 ＊ 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. FINANCIAL HIGHLIGHTS • Overview of financial results • Portfolio overview - Office in Osaka area 2 34 for the fiscal period ended June 30, 2017 (22nd Period) 4 • Portfolio overview - Office in Osaka area 3 35 • 22nd Period financial results – Comparison to previous period 5 • Portfolio overview – TK interest and others 36 • 22nd Period financial results – Comparison to initial forecasts 6 • Newly acquired assets 37 • 22nd Period financial results – • Disposed assets 41 Breakdown of change from previous period 7 • Balance sheet 8 5. FINANCING STRATEGY • Income statement 9 • Major financing- related figures and investment corporation bonds 43 2. FORECASTS FOR THE 23RD AND 24TH FISCAL PERIOD • Financial status 44 • Forecasts for the 23rd and 24th fiscal period 11 • Lender composition and maturity ladder (as of end of Jun. 2017) 45 • Breakdown of change from previous period 12 • Outstanding borrowings (as of end of Jun. 2017) 46 3. RESULTS FOR THE 22ND FISCAL PERIOD • Lender composition and maturity ladder (as of end of Jul. 2017) 47 • Occupancy 14 • Outstanding borrowings (as of end of Jul. 2017) 48 • Portfolio operation 15 6. MARKET ENVIRONMENT • Occupancy by property 16 • Office market data 1 (Tokyo 23 districts) 51 • Revisions and gaps in rents 17 • Office market data 2 (Tokyo 23 districts) 52 • Surveys on tenants’ satisfaction 18 • Office market data 3 (Osaka) 53 • Initiatives in Properties in Portfolio 19 • Office market data 4 (Osaka) 54 4.
  • Effects of Land and Building Usage on Population, Land Price and Passengers in Station Areas: a Case Study in Fukuoka, Japan

    Effects of Land and Building Usage on Population, Land Price and Passengers in Station Areas: a Case Study in Fukuoka, Japan

    Frontiers of Architectural Research (]]]]) ], ]]]–]]] Available online at www.sciencedirect.com www.elsevier.com/locate/foar RESEARCH ARTICLE Effects of land and building usage on population, land price and passengers in station areas: A case study in Fukuoka, Japan Xinyu Zhuanga,n, Shichen Zhaob aDepartment of Urban Design, Planning and Disaster Management, Graduate School of Human- Environment Studies, Kyushu University, Fukuoka 812-8581, Japan bDepartment of Architecture and Urban Design, Faculty of Human-Environment Studies, Kyushu University, Fukuoka 812-8581, Japan Received 13 October 2013; received in revised form 17 January 2014; accepted 21 January 2014 KEYWORDS Abstract Railway and subway This study uses multiple regression to investigate the effects of land and building use on population, stations; land price, and passengers. Initially, we abstract annual data on land and buildings usage within a Multiple regression radius of 0 m–400 m for railway stations and 400 m–800 m for subway stations in Fukuoka, Japan by method; using the GIS. We then analyze the relationships between 13 factors of land use and 8 factors of Population; building usage, as well as the related population, land price, and passengers using the quantitative Land price; expression method. Using several categories of land use and building usage as explanatory variables, Passengers we analyze the degree to which the selected categories affect population, land price, and passengers by using the multiple regression method. This research can aid the further development of land and building usage in the future. & 2014. Higher Education Press Limited Company. Production and hosting by Elsevier B.V. All rights reserved.
  • English Translation Notice Concerning Acquisition of Assets

    English Translation Notice Concerning Acquisition of Assets

    English Translation The following is an English translation of the original Japanese press release and is being provided for informational purposes only. November 8, 2013 To All Concerned Parties REIT Issuer: Japan Rental Housing Investments Inc. 6-16-12 Shinbashi, Minato-ku, Tokyo 105-0004 Toshiya Kuroda, Executive Director (Securities Code: 8986) Asset Manager: Mi-Casa Asset Management Inc. Yutaka Higashino, President and Chief Executive Officer Inquiries: Atsushi Chikamochi, Chief Financial Officer Tel: +81-3-5425-5600 Notice Concerning Acquisition of Assets Japan Rental Housing Investments Inc. (the “Investment Corporation”) hereby announces that it has decided at a meeting of its Board of Directors held earlier today to acquire the following assets (the “Acquisition”). Details are provided below. I. Basic Policy In order to distribute stable profits to investors over the long term, the Investment Corporation will aim for continued growth of the asset size and increase of the portfolio’s quality by (1) acquiring new properties in the Tokyo metropolitan area centering on the 23 wards of Tokyo (over JPY1bn per property as general) as well as new regional top-class properties outside the Tokyo metropolitan area (over JPY1bn per property as general), and (2) selling primarily small (especially properties below JPY500mn) and relatively older properties outside the Tokyo metropolitan area as well as former premium type properties (a former rental housing category of the Investment Corporation whose main users are households with relatively
  • H.I.S. Hotel Holdings Hotel Lineup

    H.I.S. Hotel Holdings Hotel Lineup

    H.I.S. Hotel Holdings Hotel Lineup 20200622 H.I.S. Hotel Group Map Henn na Hotel Kanazawa Korinbo Henn na Hotel Komatsu Eki-mae Commitments Henn na Hotel Kyoto, Hachijoguchi Eki-mae Henn na Hotel Sendai Kokubuncho Scheduled to open in 2021 H.I.S. Hotel Holdings Co. Ltd. is a company that provides pleasure in Henn na Hotel Maihama Tokyo Bay Watermark Hotel Kyoto Henn na Hotel Tokyo Nishikasai traveling based on its hotel and convenience in business scenes. Henn na Hotel Tokyo Ginza Henn na Hotel Tokyo Akasaka In order to achieve it, we pursue connection, comfort, advancement, playfulness, and productivity, Henn na Hotel Tokyo Asakusabashi placing them as our five core values. Henn na Hotel Tokyo Asakusa Tawaramachi Henn na Hotel Tokyo Hamamatsucho Henn na Hotel Tokyo Haneda Combining our world’s best productivity and efficiency, Henn na Hotel Fukuoka Hakata we would like to offer pleasant experiences that add spice to your life at more reasonable prices. Henn na Hotel Laguna Ten Bosch Nagoya Scheduled to open in 2022 H.I.S. Hotel Group VISON (Taki-cho, Mie) Scheduled to open in summer 2021 Henn na Hotel Huis Ten Bosch Henn na Hotel Nara Henn na Hotel Watermark Hotel Henn na Hotel Osaka Shinsaibashi Henn na Hotel Osaka Namba (former Osaka Nishi-shinsaibashi) Miyakojima Watermark Hotel Nagasaki Huis Ten Bosch Henn na Hotel Kansai Airport Scheduled to open in 2022 Scheduled to open in 2022 Hotel making a commitment to continue changing Kagoshima Implementing advanced technologies and The Watermark Hotel has been loved by technology robots, the robot-served hotel people in the world as a world-class hotel 変なホテル provides not only a comfortable stay but also since 1996, when the business first started in excitement and fun.
  • JICA Experts Study for the Operations and Maintenance Structure Of

    JICA Experts Study for the Operations and Maintenance Structure Of

    Republic of India Mumbai Metro Rail Corporation JICA Experts Study for the Operations and Maintenance Structure of Mumbai Metro Line 3 Project in India Final Report October 2015 Japan International Cooperation Agency (JICA) Japan International Consultants for Transportation Co., Ltd. PADECO Co., Ltd. 4R Metro Development Co., Ltd JR 15-046 Table of Contents Chapter 1 General issues for the management of urban railways .............................. 1 1.1 Introduction ........................................................................................................................ 1 1.2 Management of urban railways ........................................................................................ 4 1.3 Construction of urban railways ...................................................................................... 12 1.4 Governing Structure ........................................................................................................ 17 1.5 Business Model ................................................................................................................. 21 Chapter 2 Present situation in metro projects ............................................................ 23 2.1 General .............................................................................................................................. 23 2.2 Metro projects in the world ............................................................................................. 23 2.3 Summary........................................................................................................................
  • Kanagawa Prefecture

    Kanagawa Prefecture

    www.EUbusinessinJapan.eu Latest update: August 2013 KANAGAWA PREFECTURE Prefecture’s flag Main City: Yokohama Population: 9,079,000 people, ranking 2/47 (2013) [1] Area: 2,415.84 km² [2] Geographical / Landscape description: Kanagawa Prefecture is located in the southern Kanto region of Japan and is part of the Greater Tokyo Area. Topographically, the prefecture consists of three distinct areas. The mountainous western region features the Tanzawa Mountain Range and Hakone Volcano. The hilly eastern region is characterized by the Tama Hills and Miura Peninsula. The central region, which surrounds the Tama Hills and Miura Peninsula, consists of flat stream terraces and low lands around major rivers including the Sagami River, Sakai River, Tsurumi River, and Tama River. [2] Climate: The climate is moderate due to the warm current running along the Pacific side of the archipelago. [2] Time zone: GMT +7 in summer (+8 in winter) International dialling code: 0081 Recent history, culture Kanagawa has played a major role in some significant periods in Japan's history. The first began in 1192, when the first military government was established in Kamakura. This made Kanagawa the centre of the Japanese political scene. The second period commenced in 1859, when the Port of Yokohama was opened to the world after more than 200 years of strict national isolation. Since then, Kanagawa became the gateway for the introduction of Western civilization. The third period was the 1950s, when the Japanese economy was being reconstructed after World War II. During this period, along with the development of the Keihin Industrial Belt, Kanagawa played a significant role in rebuilding the war-devastated Japanese economy.
  • Notice of Acquisition of Assets and Lease Contract with New Tenants

    Notice of Acquisition of Assets and Lease Contract with New Tenants

    November 28, 2017 FOR IMMEDIATE RELEASE Activia Properties Inc. 1-1 Minami-Aoyama 1-chome, Minato-ku, Tokyo Nariaki Hosoi Executive Director (Code: 3279) Asset Management Company TLC REIT Management Inc. Hiroyuki Tohmata President & CEO Inquiries Kazuyuki Murayama General Manager of Strategy Department Activia Management Division (Tel: +81-3-6804-5671) Notice of Acquisition of Assets and Lease Contract with New Tenants Activia Properties Inc. (“API”) announces that TLC REIT Management Inc. (“TRM”), to which API entrusts its asset management operations, has decided to acquire and lease three properties (“the anticipated properties”) today. In accordance with the internal regulations concerning transactions with related parties of TRM, TRM has obtained API’s approval for the above transactions at API’s board of directors meeting. Details are as follows: 1. Overview of the anticipated acquisition and lease Property Anticipated Category No. Property name Location acquisition price Seller (Note 1) (Millions of yen) A-FLAG KITA UR-14 SHINSAIBASHI (Note 2) Osaka, Osaka 4,725 Cosmos Corporation Urban Retail DECKS Tokyo Beach Properties UR-15 (49% co-ownership Minato, Tokyo 12,740 Tokyu Land Corporation interest) (Note 3) Subtotal - 17,465 - Activia AA-12 Commercial Mall Hakata Fukuoka, Fukuoka 6,100 Cosmos Corporation Account Properties Subtotal - 6,100 - Total 23,565 - Disclaimer: This press release is an announcement by Activia Properties Inc. concerning the acquisition of assets and lease contract with new tenants, and has not been prepared for the purpose of solicitation for investment. Investors are asked to ensure that they read the prospectus for the issuance of new investment units, as well as any amendments thereto (if any), prepared by Activia Properties Inc.
  • Land Value LOOK Report

    Land Value LOOK Report

    Trend Report of the Values of Intensively Used Land in Major Cities - Land Value LOOK Report - 51ｓｔ Issue - Second Quarter of 2020 Trend from April 1, 2020 to July 1, 2020 Land Price Research Division Ministry of Land, Infrastructure, Transport and Tourism August 2020 Survey Outline 1. Survey objective To clarify those land value trends of intensively used districts in major cities on a quarterly basis, which tend to indicate property market trends leadingly. 2. Matters to be surveyed Licensed Real Property Appraisers (LRPAs) collect information on the real property markets of the surveyed districts, and estimate land value trends by using real property appraisal approaches to value. The results are to be aggregated by the Ministry of Land, Infrastructure, Transport and Tourism. 3. Surveyed districts Those districts in three major metropolitan areas (Tokyo, Osaka and Nagoya areas) and other major cities, land price trends of which are particularly important in the real property market. A total of 100 districts, including 43 districts in Tokyo area, 25 districts in Osaka area, 9 districts in Nagoya area, and 23 districts in other major cities, are surveyed. (See the attached sheet for the outlines of the districts.). Residential districts comprise of districts intensively used for high-rise apartments, etc. (32 districts). Commercial districts comprise of districts where shops and/or offices are intensively concentrated (68 districts). ※1. Tokyo Area = Saitama, Chiba, Tokyo, and Kanagawa Prefectures; Osaka Area = Kyoto, Osaka, Hyogo, and
  • Station Building) and Its Relation with Surrounding Land Value

    Station Building) and Its Relation with Surrounding Land Value

    Ekibiru (Station Building) and its relation with surrounding land value Thesis COLUMBIA UNIVERSITY In Partial Fulfillment of the Requirements for the Degree Master of Science in Urban Planning By Shuran Chen May, 2015 Abstract Japan’s railroad stations, called Ekibiru 駅ビル(Station Building), are not only the place for commuters to take train and/or subway but also the destination for people to shop, dine and spend time with friend and family, offices for workers and hotels for travelers. In Tokyo Metropolitan Area, Majority of railroad companies, including former public-owned now privatized East Japan Railway Company, Tokyo Metro, Tokyu Dentetsu, are enjoying profits.1 Study also shows that the latest Class A buildings have the tendency to be connected to railroad station and are mixed-use of office and commercial. 2 The study aims to gain a better understanding of whether or not Ekibiru (Station with mixed-use right on the top) has correlation with surrounding land value by using “before and after” land value data of 116 station areas and the ward that station located in. The result shows that while there are tendency that Ekibiru area has higher land value than Ward or City average compared with Station area without Ekibiru, there cannot be seen clear correlation between Ekibiru renovation and its effect on surrounding land value. 1 Railroad Sector Ordinary Profit Ranking (Heisei 24 (2012) – Heisei 25 (2013)), 業界 search.com 2 Real Estate Investment Report November 2012, Nissei Research 目次 Introduction ...................................................................................... 4 Definition ................................................................................................ 4 Background .............................................................................................. 4 Hypothesis and Research Question ............................................................ 6 Methodology, process and Data .........................................................
  • How to Nurture Train-Related Workers

    How to Nurture Train-Related Workers

    How to nurture train-related workers <Author’s First Name & Last Name> Masami Yoshigiwa <Qualifications> Assistant Director General of Managers’ Section <Company of Affiliation> East Japan Railway Workers’ Union <Post/Title> 1. Sudden stream of changes of generation East Japan Railway Company(JR-East) was established in April 1, in1987, and is 30th anniversary this year. When Japan National Railways(JNR) were divided and privatized, and East Japan Railway Company was launched, it had about 82,500 workers. There were about 56,500 members as of the April 1 in 2017. The number of staff members had decreased and along with that new generations ware taking over remarkably. The decreasing number in staff members came from technological innovations such as introduction of new railroad car and new systems, outsourcing and improvement of efficiency. However as the most significant reason, the number of retiree of JNR-hired employees is much more than the number of newly hired employees. This large number of retirees will continue until 2023 and during the 7 years from now, about 18,000 workers will retire at the age of 60 years old. Furthermore, in the past 8 years between 1983 and 1990, the company suspended hiring new workers. These factors made up the warped age structure of the company employees. Consequently, there is a division between JNR-hired employee and JR-East hired employee. In order to fill the age gap, a system called “life cycle” was introduced. JR-East hired workers should start at “station staff” then become “conductor” and finally work as “driver”. That system was introduced in order to secure the enough number of drivers because the tightness of drivers was no excuse.