Distributions

Actual Distributions

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Actual:August 2019 (35th) Fiscal Period
Distribution per unit JPY 4,430
  • Payment Start Date planned:November 18, 2019.
  • Fiscal period was from March 1, 2019 to August 31, 2019 (for six months).
  • Only unitholders on the register as of the end of August 2019 are eligible to receive distribution. The final trading day with rights at the Tokyo Stock Exchange was August 28, 2019.
 

Distributions Forecast

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Forecast:February 2020 (36th) Fiscal Period
Distribution per unit JPY 4,500
  • The amount actually distributed is subject to fluctuation, and is not guaranteed.
  • Fiscal period is from September 1, 2019 to February 29, 2020 (for six months).
  • Only unitholders on the register as of the end of February 2020 are eligible to receive distribution. The final trading day with rights at the Tokyo Stock Exchange is February 26, 2020.
  • The amount of distribution will be declared in the middle of April 2020.
  • The commencing date of the distribution payment is scheduled in the middle of May 2020.

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Forecast:August 2020 (37th) Fiscal Period
Distribution per unit JPY 4,600
  • The amount actually distributed is subject to fluctuation, and is not guaranteed.
  • Fiscal period is from March 1, 2020 to August 31, 2020 (for six months).
  • Only unitholders on the register as of the end of August 2020 are eligible to receive distribution. The final trading day with rights at the Tokyo Stock Exchange is August 27, 2020.
  • The amount of distribution will be declared in the middle of October 2020.
  • The commencing date of the distribution payment is scheduled in the middle of November 2020.
 

Historical Distribution per unit

JRF implemented a Four-for-one unit split on March 1, 2010. Figures for distribution per unit indicated below are adjusted figures, which the actual figures are divided by four and rounded down to the nearest integer, assuming that the unit split took place at the beginning of the August 2002 fiscal period.

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Actual

Forecast

(yen)

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  Aug. 2002 Feb. 2003 Aug. 2003 Feb. 2004 Aug. 2004 Feb. 2005 Aug. 2005 Feb. 2006 Aug. 2006 Feb. 2007
Distribution
per unit
(JPY)
3,313 3,609 3,773 4,229 3,613 3,854 3,932 3,962 4,227 3,932
  Aug. 2007 Feb. 2008 Aug. 2008 Feb. 2009 Aug. 2009 Feb. 2010 Aug. 2010 Feb. 2011 Aug. 2011 Feb. 2012
Distribution
per unit
(JPY)
4,137 3,966 3,933 3,764 3,804 3,447 3,657 3,968 3,259 3,673
  Aug. 2012 Feb. 2013 Aug. 2013 Feb. 2014 Aug. 2014 Feb. 2015 Aug. 2015 Feb. 2016 Aug. 2016 Feb. 2017
Distribution
per unit
(JPY)
3,840 3,868 3,929 4,120 4,165 4,180 4,204 4,200 4,250 4,250
  Aug. 2017 Feb. 2018 Aug. 2018 Feb. 2019 Aug. 2019 Feb. 2020 Aug. 2020
Distribution
per unit
(JPY)
4,295 4,410 4,430 4,430 4,430 (4,500) (4,600)
* Figures of the Forecast are in brackets. The high light parts are the values of actual distributions divided by four.

Distributions Policy

In order to maintain our tax treatment available to J-REITs under Article 67-15 of the Special Taxation Measures Act of Japan, or the Special Taxation Measures Act, the Fund must distribute in excess of 90% of our distributable profit as defined in the Special Taxation Measures Act. Our articles of incorporation require that we make cash distributions to our unitholders of at least this amount. If the amount of our profit as defined in our articles of incorporation is 90% or less of our distributable profit as defined in the first clause of Article 67-15 of the Special Taxation Measures Act or we determine it is appropriate to do so, our articles of incorporation permit us to distribute cash to our unitholders in excess of profit as defined in our articles of incorporation up to the amount set forth in laws and regulations, including the standards set by the Investment Trusts Association, Japan. If such maximum amount is still 90% or less of our distributable profit as defined in the Special Taxation Measures Act or we determine it is appropriate to do so, our articles of incorporation further permit us to make distributions in any amount we determine.


Limitation of Cash Distribution

The Investment Corporation is relieved of its duty to pay any cash distributions to a unitholder if three full years have passed from the day of commencing payments without paying to the unitholder.
No interest will accumulate on any unpaid cash distributions.