Our investment objective is to secure, in the medium to long term, relatively stable distributions for our unitholders and steady increases in the value of our property portfolio. We seek to achieve our investment objective through the following strategies:

• Acquiring and operating a diversified and balanced portfolio of quality retail properties
  We seek to build a diversified and balanced portfolio of quality income-producing retail properties in Japan. We seek to continue to acquire income-type retail properties, featuring long-term, anchor tenant leases with fixed rents, in order to produce relatively stable cash flow. We also seek to acquire growth-type retail properties which can offer potential growth in property value and cash flow by linking portions of our rental revenues to the business performance of certain tenants, with fixed minimum rents or scheduled minimum rent increases, as well as through active property management to improve tenant quality and occupancy rates. We will seek to diversify the geographic locations of our properties to minimize region-specific economic and seismic risks. We believe that an appropriate balance between income-type properties and growth-type properties, together with geographic diversification, will help us achieve a property portfolio that provides relative cash flow stability with the potential for appreciation.
• Leveraging the Asset Manager's expertise and global network
  Our Asset Manager is a joint venture between Mitsubishi Corporation, a leading Japanese general trading company, and UBS AG, one of the world's leading financial firms with significant experience and expertise in real estate investment and management. We will continue to draw on the Asset Manager and the global asset management expertise and experience of its employees and its shareholders to help us locate and acquire attractive properties and increase their value through strategic management.
• Increasing our portfolio value through strategic, proactive property management
  A key part of our strategy is to increase our unitholder value through focused and proactive management of our properties, particularly at our growth-type properties where our property managers assume a greater management role. We intend for the Asset Manager to work with carefully selected property managers to develop and implement marketing initiatives, tenant leasing strategies, maintenance programs, cost controls and other steps to enhance the attractiveness, profitability and value of our properties.
• Financing strategy
  In financing our property acquisitions and our operations, we will seek to use an appropriate mix of debt and equity financing to achieve an optimal outcome for cost of Funds, unitholder returns and balance sheet stability. We intend to take advantage of tenant leasehold and security deposits where appropriate in our financing strategy to reduce our need for debt or equity financings. We will also seek to finance our property acquisitions only after we identify our acquisition candidates, to attempt to limit the amount of cash and cash equivalents for which we have no immediate use.