To Our Investors

In the Fiscal Period ended November 2023 (36th Fiscal Period), DOI posted operating revenues of 13,646 million yen and operating income of 6,747 million yen. Our dividend per unit for the 36th Fiscal Period became 13,700 yen.

Average contract rent at the end of the Fiscal Period ended November 2023 was 20,530 yen. The rate of increase in monthly rent due to contract renewals was +7.2% compared to the end of the previous period, while, the rate of increase in monthly rent due to tenant replacements was ▲3.9% by prioritizing operational leasing. The period end occupancy rate was 97.7%. We will realize stable internal growth through the thorough implementation of the hands-on approach that continuously applies “Bonji-Tettei” as the code of conduct.

During the Fiscal Period ended November 2023, DOI did not acquire or transfer any properties. However, DOI will continue to improve the quality of its portfolio through investment management of selected office properties located in the five central wards of Tokyo.

In finance-related 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.

In addition, DOI plans to split its investment units at a ratio of two units per unit, with May 31, 2024 as the record date.
The purpose of reducing the amount per unit of investment is to establish a more accessible environment for investors, further expand the investor base and improve the liquidity of investment units.

DOI will continue to increase the competitiveness of its properties and aim to achieve its medium- to long-term goal of continuous growth through leveraging borrowing capacity backed by robust financial base, while increasing long-term EPU (net income after deducting gain on sales of properties).

We would like to ask our unitholders for your continued support and encouragement for DOI.