The 7th Fiscal Period (May 2015) Presentation

	The 7th Fiscal Period (May 2015) Presentation
	7th Fiscal Period (Ended May 2015) Earnings Highlights
	The Second Public Offering
	1. Financial Highlights and Forecasts
	2. Internal Growth, External Growth and Financing Strategies Internal Growth -Trend of Rent Gap and Occupancy- Internal Growth (Tokyo Office Properties)-Positive Turnover, Rent Revision Trend- Internal growth (Tokyo Office Properties) -Strength of Shibuya/Aoyama/Ebisu Areas- Internal Growth (Tokyo Office Properties) -OSAKI WIZTOWER- Internal Growth (Urban Retail Properties) -Rise in Sales Linked Rent- Internal Growth (Urban Retail Properties) -Capturing Inbound Demand- Internal Growth (Urban Retail Properties) -Tokyu Plaza in Omotesando/Harajuku- Internal Growth (Urban Retail Properties)　 -Examples of Value Enhancement- External Growth -Strategic Replacement of Assets- External Growth -Strategic Replacement of Assets- External Growth -Strategic Replacement of Assets- External Growth -Expansion of Asset Size- External Growth -Sourcing Channels and Methods of Acquisitions since listing- Financing Strategy -Status of Financing (1)- Financing Strategy -Status of Financing (2)- Appraisal Values of Properties (as of May 31, 2015) Trends of NAV per unit/appraisal value
	3. Others
	Disclaimer

Here are NAV per unit and historical appraisal value.

NAV per unit at the end of the 7th period was ¥671,777, which is 10.4% higher than that of the end of the previous period. The total appraisal value was ¥314,130 million at the end of the 7th period, as shown at the previous page.

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