NIPPON REIT Investment Corporation TSE code:3296
Performance Report January-March 2022
April 28, 2022
NIPPON VISION
Serious, Steady, Solid.
Occupancy Rate and Free Rent Period Trend
◆ The occupancy rate is steady for the 1st half of the 20th period; retail sector is expected to reach 100% occupancy in June
◼ Occupancy rate trend and forecast
Total
Office
Residence
Retail
1900年1月
100.0%
90.0%
80.0%
1900年1月
1900年1月
1900年1月
1900年1月
1900年1月
1900年1月
1900年1月
1900年1月
1900年1月
1900年1月
1900年1月
1900年1月
2021 | 2022 | ||||||||||
Jun. | Jul. | Aug. | Sep. | Oct. | Nov. | Dec. | Jan. | Feb. | Mar. | Jun. (Forecast) | |
97.8% | 97.4% | 97.0% | 96.7% | 96.8% | 96.9% | 98.1% | 97.6% | 97.4% | 97.5% | 98.2% | Total |
98.1% | 97.6% | 97.2% | 96.9% | 97.0% | 97.2% | 98.6% | 98.4% | 98.2% | 98.0% | 98.6% | Office |
97.1% | 97.0% | 96.6% | 96.1% | 96.3% | 96.3% | 97.3% | 96.7% | 96.4% | 97.0% | 97.2% | Residential |
97.8% | 97.8% | 97.8% | 100.0% | 100.0% | 97.7% | 97.7% | 88.9% | 88.9% | 88.9% | 100.0% | Retail |
◼ Trend of office occupancy rate based on rent
◼ Trend of average free rent period for office
0month
5month
4month
3month
2month
1month
Trend od Rent Increase
◆ Rent growth at the timing of both the tenant replacement and rent renewal continue in a declining trend due to weak market rent and stagnant economic activities
◼ Monthly rent increase/decrease upon tenant replacement
◼ Trend of rent renewals based on floor space3
●Office
Total rent increaseTotal rent decrease
Rent change ratio 1
¥.000/month
26.2%
25.8%
10,000
7,500
5,000
2,500
0
▲ 2,500
▲ 5,000
9,188 | 7,015 | 5,154 | 678 |
1.3% | 747 | ||
0 0 | ▲ 4,394 | ▲ 3,302 | ▲ 905 |
▲ 6.4% ▲ 1.7% |
28%
21%
14%
7%
0%
▲7%
▲14%
●Residence 2
18th period
16th period
17th period
19th period
20th period
Jun.2020
Dec.2020
Jun. 2021
Dec. 2021
First half
◼ Status of rent increase/decrease at contract renewals
Total rent decreaseTotal rent increase
Rent increase ratio4
¥.000/month 1,500 1,000
3.1% | |||
1,401 | 958 | 2.3% 676 | |
600 | 0.6% | 1.2% | 392 |
▲ 34 ▲ 151 | ▲ 765 | ▲ 371 ▲ 85 | |
Total rent increaseTotal rent decrease5.8%
Rent change ratio 1
10,500
500
0 ▲ 500 ▲ 1,000
6% 4% 2% 0% ▲ 2% ▲ 4%
9,000
7,500
6,000
4,500
3,000
1,500
0
▲ 1,500
7.1% | 7.5% 7.3% |
6.0% | |
10,940 | 5.2% Rent increase |
ratio upon | |
contract renewals | |
2,082 | 886 297 61 |
0 0 0 0 0 |
12.0%
10.5%
9.0%
7.5%
6.0%
4.5%
3.0%
1.5%
0.0%
▲1.5%
(¥,000/month)
16th period 17th period 18th period 19th period 20th period
Jun.2020
Dec.2020
Jun. 2021
Dec. 2021
First half
1. "Rent change ratio" is (total rent after tenant replacement - total rent before tenant replacement) /(total rent before tenant replacement). Figures are rounded to the first decimal place.
2. Residential properties that are not subject to fixed rent master lease.
3. In case where tenant categorized as "unchanged" in each period accepted rent increase in the following period, the area subject to rent renewal of the tenant is included the area of the "unchanged" and "increased" in the relevant period.
4. "Rent increase ratio" is (total rent increase after rent renewal - total rent before rent renewal) / (total rent before rent renewal). Figures are rounded to the first decimal place.
2
Cancellation Notices and Leasing Status
Property name
Occupancy rate
Vacancy/lease statusHiroo Reeplex B's
100.0%1 floorAssumed occupancy rate1
Itohpia Iwamotocho 1-chome Building
cancellation received
182 tsubo cancellation received
Toranomon Sakura Building FORECAST Gotanda WEST
MK Kojimachi Building
Otakibashi Pacifica Building
vacant
Homat Horizon Building
cancellation received cancellation received
REID-C Megurofudomae
Nishi-Gotanda 8-chome Building
FORECAST Shin- Tokiwabashi Itohpia Iwamotocho 2-chome Building
Kanda Ocean Building
NORE Fushimi
100.0%1 space73 tsubo
vacant cancellation received cancellation received cancellation received cancellation received cancellation received
100.0%1 space4 tsubo
100.0%
1 space 34 tsubo
97.0% (Sep. 2022)
FORECAST Shinjuku SOUTH
100.0%
1 space
135 tsubo cancellation received
96.8%
(Apr. 2022)
Sannomiya First Building
100.0% 3 spaces 79 tsubo
1 space52 tsuboBECOME SAKAE
88.6%
1 floor 159 tsubocancellation received cancellation received vacant
96.5% (Sep. 2022)
96.3% (Aug. 2022)NORE Meieki
94.7%
1 space 68 tsubovacant
94.7% (Mar. 2022)
1 space
23 tsuboThe SquareGreenOak Takanawadai
94.9%
85.8%
1 space 29 tsubo
1 floor
58 tsubo
1 floor 112 tsubovacant cancellation received cancellation received Vacant
93.5% (Sep. 2022)
92.7%
(Jun. 2022)Property name
Occupancy rate
Towa Higashi-Gotanda Building
100.0%
1 space 72 tsuboFORECAST Shinagawa
84.2%
1 floor 108 tsubo 1 space 70 tsuboOmiya Center Building
98.6%
3 spaces 386 tsubo 1 space 60 tsubo
FORECAST Nishishinjuku REID-C Gotenyama Building
100.0%
88.6%
TK Gotanda Building
100.0%
2 floors 203 tsubo
FORECAST Ningyocho PLACE
87.1%
ANTEX 24 Building
100.0%
2 floors 181 tsubo
GreenOak Kayabacho
86.4%
FORECAST Takadanobaba Nishi-Shinjuku Sanko Building
100.0%
83.5%
1 space 123 tsubo
REID-C Iidabashi Building
100.0%
2 floorsGotanda Sakura Building
89.3%FORECAST Mita
100.0%
Hatchobori River Gate
66.7%
2 floors
Properties in which full occupancy is expected due to conclusion of new lease contract or receival of tenancy application for the subject space or unit.
1 floor
1 floor
1 floor
1 floor
1 floor 123 tsubo
1 floor 277 tsubo
1 floor 1 floor
1 floor 116 tsubo
1. Assumed occupancy rate is the assumed occupancy rate after the realization of all tenancy applications and cancellation notices as of the end of Mar. 2022.
cancellation received
91.9% (Sep. 2022)vacant cancellation received
89.8% (Oct. 2022)cancellation received vacant
89.7% (Sep. 2022)
64 tsubocancellation received
89.0% (Oct. 2022)
37 tsubovacant
88.6% (Mar. 2022)
cancellation received
87.6% (Jul. 2022)
123 tsubo
72 tsubocancellation received cancellation received cancellation received vacant
87.1% (Mar. 2022)
86.7% (May 2022)
86.4% (May 2022)cancellation received
83.8% (Aug. 2022)vacant
83.5% (Mar. 2022)
51 tsubocancellation received
80.1% (Sep. 2022)
48 tsubo 48 tsubo
vacant cancellation received cancellation received
78.5% (Apr. 2022)
78.4% (May 2022)
76 tsubovacant
66.7% (Mar. 2022)
Engineering Management: Plans and Implementation Status
◆ Engineering Management, another driver of internal growth, is planned and carried out in a planned and consistent manner
◼ Implemented measures from Jan. to Mar. 2022
Revenue increase through installation of cell phone ● base station
《NORE Meieki and other 3 properties》
• Total annual revenue increase of approx. ¥3.29mm is expected through installation of new antennas for 5G.
◼ Planned measures to be implemented after Mar. 2022
《FORECAST Shinjuku SOUTH》
Revenue Increase by replacement of coin- operated parking space company
• Revenue increase is expected by replacing coin-operated parking space company
●● ●●
《LAPUTA KUJO、DeLCCS KASAI》
Revenue increase through renewal of residential units
• Total annual revenue increase of ¥0.91mm is expected from rent increase of renewed units
《6 properties》
Increase in commission rate through replacement of vending machines
• Total annual revenue increase of approx. ¥0.69mm is expected from increase in the commission rate by replacement of vending machines
《Shibakoen Sanchome Building, FORECAST Waseda
FIRST》
Revenue increase through installation of share bike and electric kickboard stations
• Total annual revenue increase of approx. 0.52mm is expected from installation of share bike and electric kickboard station in the property premises.
《8 residential properties》
Introduction of contactless delivery system
• Improving tenants' satisfaction by installing contactless delivery system
Measure to increase revenue
Measure to reduce expenseMeasure to improve tenant satisfaction
Measure with environmental consideration
●● ●●
《Tower Court Kitashinagawa and other 4 properties》
Revenue increase through installation of 5G antennas for phone carriers
• Revenue increase is expected through installation of 5G antennas
《LAPUTA KUJO、DeLCCS KASAI、Primegate Iidabashi》
Revenue increase through renewal of residential units
• Revenue increase is expected from rent increase of renewed units
《DeLCCS KASAI》
●● ●●
Revenue increase through subleasing of parking space
• Revenue increase is expected by subleasing of parking space
《20th period Status of Engineering Management Implementation(1)》
400
●● ●●
●
300 200 100
0
371 |
82 129 25 |
21 |
Budget
Jan.
Feb.
Mar.
Apr.
MayJun.
(¥mn)
1. Total amounts of Planned capital investment and Strategic value-enhancing investment are stated. Furthermore, the figures may change when accounting items will be determined.
●● ●●
●● ●●
●● ●●
Total in 20th period
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Nippon REIT Investment Corporation published this content on 28 April 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 28 April 2022 06:03:05 UTC.