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Next I would like to explain the purpose of this PO.
Since the listing, based on investment policy of rigorous consideration of location and quality, we have achieved external growth and internal growth of acquired assets.
This “External & Internal Growth generating virtuous cycle” is API’s core growth strategy which enhances unitholders value.
Through the new acquisition, we believe we succeeded to secure the potential of internal growth and enhance the portfolio quality and stability.
All the three new properties are located in prime areas such as Ginza, Harajuku and Shinsaibashi thus we have decided to acquire these properties at this timing to capture future upside backed by continuously increasing area potential.
All three properties are scarce properties with priority location and high quality and especially Tokyu Plaza Ginza (land) is our flagship.
Please refer to bar chart on the right.
Stabilized DPU excluding amount contributed by gain on sale for the period ending May 2019 is forecasted to be ¥9,502, same amount as the previous forecast before the PO. However, a total amount of distributions is ¥7,328 million, up 10.4% which increased a portfolio stability.
No negative risk is considered for now, and it is one of the main purpose of this PO to strengthen portfolio profitability and fundamentals.
Please turn to the next page.
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