Capitaland : CMA: CapitaMalls Asia acquires remaining 73.71% stakes in three malls in Japan

La Park Mizue is strategically located in Tokyo's Edogawa ward, which has a population of more than 650,000 residents. It is situated next to the Mizue station of the Shinjuku-Toei subway line, 30 minutes from central Tokyo. La Park Mizue is the largest shopping mall in the Mizue suburb, and is currently 99.0% occupied.
Izumiya Hirakata is located in Hirakata City in Osaka, which has a population of over
400,000 residents. It is situated near the Hirakatashi train station, 30 minutes from central Osaka. The mall is currently master-leased by general merchandising store Izumiya, a dominant retailer in the Japanese Kansai area.
Coop Kobe is located in Nishinomiya City, which has a population of nearly 500,000 residents. It is situated near the Naruo train station, 20 minutes from Kobe. The mall is currently master-leased by Coop Kobe, one of the largest co-operative operators in Japan.
Mr Lim Beng Chee, CEO of CapitaMalls Asia, said, "CapitaMalls Japan Fund is divesting its assets as the end of fund life draws near. We decided to acquire the remaining stakes of La Park Mizue, Izumiya Hirakata and Coop Kobe, the fund's best performing assets. The combined net property yield of the three malls is about 7.6%, a good spread above the current 10-year Japan government bond yield of about 1.0% and J-REITs' trading yield of about 6.0%. With a return on equity (ROE) of over 12.0% on the acquisition, these malls will also contribute an additional recurring profit after tax and minority interests (PATMI) of more than S$8.0 million a year to CapitaMalls Asia. The additional stakes in these assets will complement our current portfolio, providing a stable source of income as we continue to grow our presence in the region."
CapitaMalls Asia currently has seven shopping malls in six cities in Japan. Besides these three shopping malls, the others are Vivit Square and Narashino Shopping Centre in Tokyo; Chitose Mall in Chitose and Ito Yokado Eniwa in Eniwa, Hokkaido.

CapitaMalls Asia Limited is one of the largest listed shopping mall developers, owners and managers in Asia by total property value of assets and geographic reach. CapitaMalls Asia has an integrated shopping mall business model encompassing retail real estate investment, development, mall operations, asset management and fund management capabilities. It has interests in and manages a pan-Asian portfolio of 97 shopping malls across 51 cities in the five countries of Singapore, China, Malaysia, Japan and India, with a total property value of approximately S$29.4 billion (HK$178.5 billion) and a total GFA of approximately 87.4 million sq ft.
Shopping malls in the portfolio include ION Orchard and Plaza Singapura - which are located in one of the world's most famous shopping streets, Orchard Road - Raffles City Singapore and Clarke Quay in Singapore. Our landmark shopping malls in China are CapitaMall Crystal in Beijing; Hongkou Plaza in Shanghai and Raffles City Shanghai; and CapitaMall Jinniu in Chengdu. The portfolio also includes Gurney Plaza in Penang, Malaysia; Vivit Square in Tokyo, Japan; as well as Forum Value Mall in Bangalore, India.
CapitaMalls Asia's principal business strategy is to invest in, develop and manage a diversified portfolio of real estate used primarily for retail purposes in Asia, and to strengthen its market position as a leading developer, owner and manager of shopping malls in Asia.

For more information, please contact: Analyst MediaCaroline Fong Lim Seng Jin

Head, Investor Relations Head, Corporate Communications and Marketing
Tel: +65 6826 5856 Tel: +65 6826 5778
Email: caroline.fong@capitaland.com Email: lim.sengjin@capitaland.com