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Top Message

Seiya Miyamoto
Daiwa Office Investment Corporation
Executive Director of Daiwa Office Investment Corporation
Keiichi Sakai

To Our Investors

In the Fiscal Period ended May 2024 (37th Fiscal Period), DOI posted operating revenues of 13,570 million yen and operating income of 6,871 million yen. Our dividend per unit for the 37th Fiscal Period became 13,700 yen.

Average contract rent at the end of the Fiscal Period ended May 2024 was 20,587 yen. The rate of change in monthly rent due to contract renewals was +2.5% compared to the end of the previous period, the rate of change in monthly rent due to tenant replacements was +4.2%. The period end occupancy rate was 97.0%. 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 May 2024, DOI acquired “S-GATE FIT Nihonbashi Bakurocho”. Additionally, DOI acquired the building portion of the “Daiwa Akihabara” which has been under development for some time, at the end of June 2024,, and over three fiscal periods starting from the Fiscal Period ended November 2024, DOI will transfer the “Daiwa Tsukishima”. 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.

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.