At the general meeting of unitholders held in December 2011, I assumed the position of President and Executive Director of Japan Retail Fund Investment Corporation (JRF).
After our listing in March 2002, JRF has led the industry as a J-REIT pioneer specialized in retail properties real estate. Since that time I have served as Supervisory Director and have watched the progress of the company for nearly ten years. I am both humbled and honored to take up the mantle of President and Executive Director as we enter this milestone period.
JRF has undertaken many new challenges and endeavors and marked steady growth in revenue, profit, and assets. As of the end of 17th Fiscal Period (August 2010 Period), JRF possesses assets worth in excess of 600 billion yen. The total assets as of the end of 19th Fiscal Period (August 2011 Period) reached 621.3 billion yen and in September 2011 JRF issued new investment units for the first time in five years and has undertaken policies toward continued growth such as the acquisition of twelve new properties (46 billion yen).
Going forward, while continuing cooperation with our management subcontractors Mitsubishi Corp.-UBS Realty Inc., we will steady proceed with investment diversification by utilizing our extensive investment project information and diverse investment methods (external growth), as well as proactively working to enhance and maintain our currently owned properties (internal growth). We intend to further our efforts to improve value for our investors so that we are able to meet your expectations. Your continued support in the months and years ahead is greatly appreciated.
Shuichi Namba
President and Executive Director, Japan Retail Fund Investment Corporation
