Comforia Residential REIT : Financial Results for the Fiscal Period Ended January 31, 2022

March 15, 2022

Financial Results for the Fiscal Period Ended January 31, 2022

Name: Comforia Residential REIT, Inc

Listed Stock Exchange: Tokyo Stock Exchange

Security Code: 3282

URL: https://www.comforia-reit.co.jp/en/

Representative: Takehiro Izawa, Executive Director

Asset Management Company: TLC REIT Management Inc.

Representative: Masaoki Kanematsu, President & CEO

Inquiries: Daisuke Kawauchi, General Manager of Strategy Department, Comforia Management Division

TEL: [phone]

Scheduled Issue Date of Securities Report: April 26, 2022

Scheduled Commencement Date of Cash Distribution: April 18, 2022

Supplementary Presentation Material on Financial Results: Yes

Presentation Meeting of Financial Results: Yes (for institutional investors and analysts)

(Figures less than one million yen are rounded down)

1. Results of Operating and Assets for the Fiscal Period Ended January 31, 2022 (August 1, 2021 - January 31, 2022)

(1) Operating Results

(Percentages show changes compared to the previous period)

Operating Revenue

Operating Profit

Ordinary Profit

Profit

Period Ended

Million yen

%

Million yen

%

Million yen

%

Million yen

%

9,433

(△12.4)

4,223

(△24 5)

3,622

(△27 5)

3,616

(△26 9)

Jan. 31, 2022

(12.6)

(24.6)

(28.2)

(27.3)

Period Ended

10,770

5,590

4,995

4,950

Jul. 31, 2021

Profit Per Unit

Return on Equity

Return on Assets

Ordinary Profit to

(ROE)

(ROA)

Operating Revenue Ratio

Period Ended

Yen

%

%

%

5,219

2.7

1.3

38.4

Jan. 31, 2022

Period Ended

7,144

3.7

1.8

46.4

Jul. 31, 2021

(2) Cash Distributions

Cash

Cash

Distribution

Total Cash

Distribution

Distribution

Per Unit

Total Cash

Distributions

in Excess of

Payout Ratio

Ratio

(excluding Cash

Distributions

in Excess of

Profit

to Net Asset

Distribution in

Profit

Per Unit

Excess of Profit)

Period Ended

Yen

Million yen

Yen

Million yen

%

%

5,529

3,831

－

－

105.9

2.8

Jan. 31, 2022

Period Ended

5,872

4,069

－

－

82.2

3.0

Jul. 31, 2021

Note1: The difference of Profit and Total Cash Distributions for the period ended Jan 31, 2022 is caused by the reversal of reserve for reduction entry (214 million yen).

Note2: The difference of Profit and Total Cash Distributions for the period ended Jul 31, 2021 is caused by the provision of reserve for reduction entry of special provisions of replaced property (881 million yen).

Note3: Payout ratio is calculated as follows :

Payout ratio ＝ Total distributions ÷ Profit ×100 （Payout ratio is rounded down to the first decimal place）

(3) Financial Position

	Total Assets	Net Assets	Capital Adequacy Ratio	Net Assets Per Unit
Period Ended	Million yen	Million yen	%	Yen
282,277	135,237	47.9	195,149
Jan. 31, 2022
Period Ended	282,839	135,689	48.0	195,802
Jul. 31, 2021

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(4) Cash Flows

	Cash Flows from	Cash Flows from		Cash Flows from	Cash and
		Cash Equivalents
	Operating Activities	Investing Activities		Financing Activities
		at End of Period
	Million yen	Million yen	Million yen	Million yen
Period Ended	5,110	△	439	△4,260	20,622
Jan. 31, 2022
Period Ended
Jul. 31, 2021	8,867	△12,727	2,024	20,211

2. Forecasts of Financial Results for the Fiscal Period Ending July 31, 2022 (February 1, 2022 - July 31, 2022) and January 31, 2023 (August 1, 2022 - January 31, 2023)

(Percentages show changes compared to the previous period)

					Cash
					Distribution	Cash
	Operating				Per Unit	Distribution
	Operating Profit	Ordinary Profit	Profit	(excluding Cash	in Excess of
	Revenue
				Distribution	Profit
					in Excess of	Per Unit
					Profit)
Period Ended	Million yen (%)	Million yen (%)	Million yen (%)	Million yen (%)	Yen	Yen
9,737 (3.2)	4,375 (3.6)	3,759 (3.8)	3,680 (1.8)	5,310	－
Jul. 31, 2022
Period Ended	9,872 (1.4)	4,420 (1.0)	3,769 (0.3)	3,759 (2.1)	5,395	－
Jan. 31, 2023

(Reference) Forecast of profit per unit for the fiscal period ending Jul 31, 2022 : 5,140 yen Forecast of profit per unit tor the fiscal period ending Jan 31, 2023 : 5,250 yen

(Note) Cash distributions per unit for the fiscal period ending Jul 31, 2022 and Jan 31, 2023 are calculated based on the amount obtained by adding the reversal of reserve for reduction entry (121 million yen and 104 million yen) to the profit.

3. Others

1. Changes in accounting policies, changes in accounting estimates, and retrospective restatement
2. 1. Changes in accounting policies due to reversions in accounting standard: Applicable
   2. Changes not mentioned in a. above: None
   3. Changes in accounting estimates: None
   4. Retrospective Restatement: None
3. The number of investment units issued
4. 1. The number of investment units issued at end of period (including treasury units)

Fiscal Period Ended Jan.31, 2022	: 692,994 units
Fiscal Period Ended Jul.31, 2021	: 692,994 units
b. The number of treasury units at end of period
Fiscal Period Ended Jan.31, 2022	: 0 units
Fiscal Period Ended Jul.31, 2021	: 0 units

*Summary of financial results is not inside the scope of audit procedure by certified public accountants or audit corporations.

*Other matters of special consideration

Forward-looking statements in this material including forecasts of financial results are based on information currently available to us and on certain assumptions we deem to be reasonable. Therefore, actual operating and other results may differ materially due to various factors. In addition, the forecasts do not guarantee the payment of the amount.

This material is a translated excerpt from Brief Announcement on the Financial Result ("Kessan Tanshin") in Japanese released today, and is for reference purposes only. If any discrepancies arise between this material and the original Japanese version, the later will prevail.

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