Table of Contents

Section 1

Management Highlight

P. 2

Section 2 Financial Results and Earning Forecasts

P. 4

Section 3

Management Status

P. 9

Section 4

Financial Status

P. 20

Section 5

Initiatives for Sustainability

P. 23

1

Section 1

Management Highlight

2

Management Highlight

Return to Unitholders

2023/4 period

7,647yen

Period over period

+5.6%

DPU

Compared to initial forecast

+5.5%

Note: The figures are calculated taking into account of the investment unit split implemented on November 1, 2022

External Growth

  • Sold KDX Kawasaki-EkimaeHon-cho Building (acquisition price 3,760 mn yen) in 23/4 period, bringing AUM to 453.3 bn yen
  • Silent partnership equity interests are to be sold separately in 23/10 and 24/4 periods (these are not counted in AUM)
  • Gain on sale of real estate etc. and securities are to be recorded in three separate periods, leading to an increase and stabilization of distributions

23/4 period

23/10 period

24/4 period

Gain on sale

Expected gain on sale

Expected gain on sale

1,168 mn yen

545 mn yen

545 mn yen

Provision of reserve for

To be distributed

To be distributed

reduction entry: 718 mn yen

the entire amount

the entire amount

Internal Growth

  • In 23/4 period, maintained a high occupancy rate through proactive leasing based on market and tenant needs and by the sale of a property in which a single tenant has moved-out
  • Realized increase in monthly rent due to tenant replacement and rent revisions while rent gap narrowed

Occupancy rate

Monthly rent increase

Due to tenant replacement

98.4%

3.3 mn yen

1.2 mn yen

+0.6% from the end

Due to tenant replacements

Due to rent revisions

2.1 mn yen

of previous period

and rent revisions

Finance

Average rate

Fixed interest

LTV

of interest-bearing debt

rate ratio

(book value basis)

0.82%

97.5%

45.3%

No change from the end

No change from the end

-0.1% from the end

of previous period

of previous period

of previous period

Sustainability

  • New GHG emission reduction target and SBT certification
    • Updated GHG emission reduction targets and added a target in total amount in January 2023

GHG

In FY 2030

By 2050

emission

Total amount: 42% reduction (base year: FY 2021)

reduction

Net-zero

targets

Per unit: 50% reduction (base year: FY 2013)

    • The updated targets have been certified as science-based targets (SBT) in March 2023
  • Initiatives to reduce GHG emissions

Introduce electricity

62 properties

Installation of

40.9%

derived from

effectively

+43 from the end

LED lightning

+1.6% from the end

in tenant area

renewable energy

of previous period

of previous period

  • ResReal Real Estate Resilience Certification Flood Damage Edition
    • Acquired ResReal certifications for KDX Fuchu Building, KDX Utsunomiya Building and KDX Toranomon 1chome Building in March 2023
  • Procured 4.8 billion yen in green loans
    (The amount of green finance: 17.0 billion yen in total)

3

Section 2

Financial Results and Earning Forecasts

4

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Disclaimer

Kenedix Office Investment Corporation published this content on 13 June 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 15 June 2023 08:29:02 UTC.