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Let me explain tenant-turnover and rent-revisions in our portfolio.
The table on the top-left shows the track records of rent increase at tenant turnover during the 7th period. Although the number of revisions was small due to our high occupancy rate, we achieved approximately 15% rent increase in average with the 589 tsubo of space subject to revision.
The chart on the bottom-left describes the track record of rent revisions with existing tenants.
By the end of 7th period, we have achieved upward revision for six properties, a half of our Tokyo Office Properties, with steady increase in both rent-growth area and average rent-growth margin.
This bar chart also illustrates the future rent revisions planned in the 8th period and the 9th period. By the end of the 7th period, we have already secured rent-increase in 489 tsubo among the 3,932 tsubo of the space subject to rent revisions in the 8th period, and 212 tsubo among the 4,112 tsubo for the 9th period.
The top right pie chart shows the breakdown of rent revision in the 7th period. In the 7th period, approximately 40% of floors realized upward rent revision, which is 11% higher than the previous period.
Please take a look at the table on the bottom right, which shows the impact of the tenant turn-over and rent revisions. In the 7th period, we secured approximately ¥24.1 million increase in revenue from rent increase at tenant turnover as well as rent revisions with existing tenants. The breakdown of this revenue increase is shown in the table, with approximately ¥9.2 million resulting from rent increase at tenant turnover in the 7th period, approximately ¥6.8 million from upward rent revisions in the 7th period , and approximately ¥8.1 million contributed by rent revisions contracted for the 8th and 9th period. This amount corresponds to 0.9% of the total revenue from Tokyo Office Properties for the 7th period.
Going forward, we will continue to seek rent-increase opportunities by leveraging favorable market conditions, with focus on tenant relationship at the same time
Please turn over the page.
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