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Next, I would like to explain our business strategy for future.
Please look at the graph.
This shows the trends in TSE REIT index and unit price performance from April 2017 to June 2018.
Since April 2017, J-REIT market continue to struggle, even if recently the market increases steadily, contrary to sluggish Nikkei share average.
Under those circumstances, API’s unit price continues underperforming TSE REIT index. We need to be aware of the market evaluation and face the proposition, even though we believe that a sound and aspiring brand should be evaluated higher.
Since IPO, API continues to grow steadily maintaining its advantage on location and properties’ quality. And we are proud of that the point is appropriately evaluated.
Though our presence is felt shrinking in the market with the number of the brands increasing and its criteria diversifying.
So I would like to take this opportunity to express my determination for next step.
At present where our AUM has reached ¥400 billion, our next objective is to step up to be a top-class brand representing J-REIT and to lead the market and contribute to its development and its expansion.
In order to achieve this great objective to ”step up to a top-class brand representing J-REIT”, we are readily exploring various factors such as ”Diversification of external growth methods” commencing with strategic asset replacement backed by close relationship with Sponsor, ”Improvement in management skill” of AM & PM companies tapping into my own experiences over years in real estate funds and in a PM company as CEO, ”Formation of a broader base of unitholders” and ”Acceleration of ESG strategies”.
And through exploring those factors, we will diligently drive our proactive strategies to be one of leaders of J-REIT market and to achieve promptly a DPU of ¥10,000.
Please move on to the next page.
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