Financial Highlights

As of Aug. 31, 2019

Operating Revenues

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Actual

Forecast

(mn yen)

Operating Income

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Actual

Forecast

(mn yen)

The breakdown of Operating results is described in Operating results below.

Ordinary Income

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Actual

Forecast

(mn yen)

Net Income

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Actual

Forecast

(mn yen)

Distributions per unit

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Actual

Forecast

(yen)

FFO per unit

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Actual

Forecast

(yen)

(1) Operating results

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  Operating revenues Operating
income
Ordinary
income
Net
income
 Total
(Millions of yen)
Breakdown
Rental and other operating revenues Gain on sales of property Distribution income from investments in Tokumei Kumiai (Millions of yen)
Aug. 2019 (35th) 35,432 30,857 4,574 -  14,719  12,815  12,814
Feb. 2019 (34th) 30,680 30,680 - - 13,103 11,105 11,105
Aug. 2018 (33rd) 32,685 31,898 787 - 13,871 11,645 11,644
Feb. 2018 (32nd) 31,967 31,967 - - 14,472 12,232 12,232
Aug. 2017 (31st) 31,011 30,999 11 - 13,743 11,426 11,425
Feb. 2017 (30th) 31,585 30,199 1,385 - 13,981 11,665 11,664

(2) Distributions

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Distributions per unit
(excluding distributions in excess of profit)
FFO
per unit
*1
Distributions Total
*2
Payout ratio
*2
Ratio of distributions to net assets
yen yen Millions of yen % %
Aug. 2019 (35th)  4,430  5,661  11,597  90.5  2.7
Feb. 2019 (34th) 4,430 6,363 11,597 104.4 2.7
Aug. 2018 (33rd) 4,430 6,399 11,597 99.6 2.7
Feb. 2018 (32nd) 4,410 6,875 11,545 94.4 2.7
Aug. 2017 (31st) 4,295 6,428 11,455 100.3 2.6
Feb. 2017 (30th) 4,250 6,234 10,846 93.0 2.6
*1  
FFO per unit is calculated using the formula below :
Net income used for calculation of FFO does not include the deferred income taxes.
Funds from operation(FFO) per unit = (Net income + Loss on sales of real estate properties – Gain on sales of real estate properties + Distribution + Other depreciation related property) / Number of units issued and outstanding

*2  
Payout ratio for August 2017 fiscal period are calculated by following formula because new investment units were issued. Payout ratio for February 2018 fiscal period is calculated by following formula because repurchase and cancellation of own investment units.
Payout ratio = Total of distributions / Net income x 100

Total distributions for February 2017 fiscal period consist of retained earnings after transferring 817 million yen respectively, to reserve for dividends, excluding fractional distribution per unit less than one yen.
Total distributions for August 2017 fiscal period consist of retained earnings for temporary difference adjustment amounting to 31 million yen.
Total distributions for February 2018 fiscal period consist of retained earnings for temporary difference adjustment amounting to 31 million yen and deduction for provision of funds 719 million yen.
Total distributions for August 2018 fiscal period consist of retained earnings for temporary difference adjustment amounting to 31 million yen and deduction for provision of funds 78 million yen.
Total distributions for February 2019 fiscal period consist of retained earnings for temporary difference adjustment amounting to 31 million yen and reversal of reserve for reduction entry of property of 461 million yen.
Total distributions for August 2019 fiscal period consist of retained earnings for temporary difference adjustment amounting to 31 million yen and deduction for provision of funds 1,284 million yen.

(3) Financial position

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  Total assets Net assets Ratio of net assets to total assets Net asset value
per unit
Millions of yen Millions of yen % yen
Aug. 2019 (35th) 900,799  433,994  48.2  165,772
Feb. 2019 (34th) 897,331 432,701 48.2 165,278
Aug. 2018 (33rd) 887,668 433,229 48.8 165,480
Feb. 2018 (32nd) 902,191 432,981 48.0 165,385
Aug. 2017 (31st) 897,631 441,967 49.2 165,704
Feb. 2017 (30th) 856,627 416,655 48.6 163,253

(4) Cash flows

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  Net cash provided by (used in) Cash and cash equivalents at end of period
Operating
activities
Investing
activities
Financing
activities
Millions of yen Millions of yen Millions of yen Millions of yen
Aug. 2019 (35th)  18,222  15,160  -11,637  61,620
Feb. 2019 (34th) 14,943 -20,609 402 39,874
Aug. 2018 (33rd) 17,903 15,769 -25,061 45,138
Feb. 2018 (32nd) 18,570 -31,973 -8,375 36,527
Aug. 2017 (31st) 19,024 -34,886 26,732 58,305
Feb. 2017 (30th) 14,512 -3,320 -11,244 47,435



* Consumption tax, etc. is not included in operating revenues, etc.
* Figures in the above table and graphs are truncated and the ratios are rounded to the relevant digit unless otherwise indicated.