HOME > About Daiwa Office > Top Message

Top Message

To Our Investors

We would like to express our deep gratitude to all our unitholders for your support of Daiwa Office Investment Corporation (DOI).

In the 24th Fiscal Period, DOI posted operating revenues of 12,735 million yen and operating income of 6,177 million yen. Our distribution per unit for the 24th Fiscal Period is 10,957 yen, an increase of 193 yen from the 23rd Fiscal Period.

Average contract rent at the end of the 24th Fiscal Period increased 137 yen from the end of the previous fiscal period to 19,574 yen, indicating an increase for the sixth consecutive fiscal period. Rent revisions contributed to a 14 million yen increase in monthly contracted rents from the end of the previous fiscal period, which was a 7.8% rate of increase for average monthly rent. Furthermore, the rate of increase for average monthly rent stood at 8.9% due to replacement of tenants, and the occupancy rate was 98.2%. We will realize sustainable internal growth through the thorough implementation of the hands-on approach that continuously applies "Bonji-Tettei" as the code of conduct.

During the 24th Fiscal Period, DOI acquired the silent partnership equity interests of a godo kaisha that invests in trust beneficial interest of CONCURRED Yokohama (75%) and along with it, was granted a preferential negotiation right concerning the acquisition of the concerned trust beneficiary interest. During the 25th Fiscal Period, DOI improved the quality of its portfolio through the acquisition of two properties (total acquisition price: 42,300 million yen), CONCURRED Yokohama (75% of quasico-ownership) and Nippon Manpower Building, and divestment of two properties (total sale price: 70,800 million yen), Shinjuku Maynds Tower (3/7 of co-ownership interest) and Daiwa Meieki Building. DOI will continue to selectively acquire office properties centering on the five central wards of Tokyo in an effort to further improve the value of its portfolio.

In financial matters, DOI promoted diversification of repayment dates by taking out long-term borrowings. DOI will continue striving to further strengthen its financial structure while working to reduce future refinancing risks.

DOI will continue to increase the competitiveness of its properties and aim to achieve its medium- to long-term goal of continuous growth through the utilization of investment capacity from capital increase, etc., while increasing long-term EPS (net income after deducting gain on sales of properties). We wish for the continued success of our unitholders and ask for your continued support of DOI.

Executive Director of Daiwa Office Investment Corporation
Yoshimi Murakami