Kenedix Office Investment : Summary of IR Presentation Material for the Fiscal Period Ended October 31, 2022
December 14, 2022 at 12:56 pm IST
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Table of Contents
Section 1
Management Highlight
P. 2
Section 2 Financial Results and Earning Forecasts
P. 4
Section 3
Management Status
P. 10
Section 4
Financial Status
P. 22
Section 5 Initiatives for Sustainability
P. 26
Section 6
Future Initiatives
P. 29
1
Section 1
Management Highlight
2
Management Highlight
Return to Unitholders
2022/10 period
14,488 yen
Compared to initial forecast +2.4%
DPU
Period over period
+3.5%
Acquisition and cancellation of own investment units (4,295 units, approx. 3.0 billion yen) during 22/10 period
External Growth
AUM expanded to 457.0 billion yen due to recent asset reshuffling
Annual NOI increase
Acquisition 19.4 bn yen
Sale 1.6 bn yen
22/4 period
(estimated)
KDX Sendai
736 mn yen
Honcho Building
AUM
6.3 bn yen
+17.8 bn yen
Gains on sale of
(April 28, 2022)
KDX Kiba Building
real estate
22/10 period
Asset
1.6 billion yen
240 mn yen
Edobashi Building
reshuffling
9.6 bn yen
(July 29, 2022)
Provided amount of
(June 30, 2022)
reserve for
Shionogi Kobe
reduction entry
Building
3.4bn yen
304 mn yen
(August 1, 2022)
Internal Growth
• Although the vacancy rate was high in the fiscal period ended
October 31, 2022, the occupancy rate remained high due to appropriate leasing strategies based on market trends and tenant needs
• As the rent gap narrowed, monthly rents continued to increase
on a net basis due to rent revisions
Due to tenant
Occupancy rate
Monthly rent increase
replacements
97.8%
2.3 mn yen
-0.1 mn yen
Due to rent revisions
-0.5% from the end
Due to tenant replacements
2.4 mn yen
of previous period
and rent revisions
Finance
Reduced interest rate levels and expanded lender formations
Average rate of
Financial
LTV
interest-bearing debt
institutions
(book value basis)
0.82%
26
45.4%
-0.02% from the end of
+1 from the end of
+1.3% from the end of
previous period
previous period
previous period
Sustainability
Acquired "5 Star" (highest evaluation) and "Green Star"
(11 consecutive years) in GRESB Real Estate Assessment for 2022
Received the environmental certifications for 10 properties (Ratio of certified properties: 70.3% in total,
+5.9% from the end of previous period)
Initiatives to reduce GHG emissions
Introduced electricity derived from effectively renewable energy at 7 properties
Installed LED lightning in 4,600 tsubo of tenant area (Ratio based on leasable floor area: 39.3%,
+3.7 from the end of previous period)
Enhanced transparency of disclosure
(Disclosed of GHG emissions by scope and obtained third-party assurance for the data of GHG emissions etc.)
Established a green finance framework and procured 9.2 billion yen in green loans
Human capital development
(Investment ownership program and engagement survey)
Others
Implemented a 2-for-1 unit split to increase liquidity (November 1, 2022)
3
Section 2
Financial Results and Earning Forecasts
4
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Kenedix Office Investment Corporation published this content on 14 December 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 14 December 2022 07:25:03 UTC.
KDX Realty Investment Corp is a Japan-based real estate investment trust (REIT) company. It aims to achieve sustainable growth in asset and stable earnings from medium to long term perspectives. The Fund mainly invests in residential facilities or healthcare facilities in Tokyo metropolitan area including Tokyo, Kanagawa, Saitama, and Chiba prefectures, as well as regional economic zones of regional cities including ordinance-designated cities. The Company is a closed-end type in which investment units cannot be refunded at the request of unitholders. Its property portfolio includes residential facilities such as rental housing, healthcare facilities such as paid nursing homes, and accommodation facilities. The asset manager of the Fund is Kenedix Real Estate Fund Management Inc, which is a financial products transaction company.