Japan · Delayed Price · Currency is JPY Advance Residence Investment Earnings Call Transcripts
Fiscal Year 2027
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FFOPU rose 3% YoY and DPU increased for an 11th consecutive period, with further growth forecast through July 2027. Strong rent revisions and selective asset replacement support earnings, while refinancing costs are expected to rise.
Fiscal Year 2026
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FFO per unit is forecast to grow 2.7% in Jul 2026 and 2.0% in Jan 2027, supported by rent growth. Total DPU is expected to ease as property-sale distributions decline, while acquisitions and disposals are projected to generate JPY 2.4 billion in gains.
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July-period Adjusted EPU and DPU rose YoY, supported by internal growth and strong rent increases. Forecasts call for continued EPU growth, while refinancing costs and remodeling vacancies remain key risks.
Fiscal Year 2025
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Jan 2025 adjusted EPU rose 1.2% QoQ to ¥5,532 and DPU increased 0.8% to ¥5,975. Rent growth remained strong, while refinancing costs and renovation-related vacancies are key pressures; a ¥2 billion unit acquisition program was approved.
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July 2024 FP Adjusted EPU reached JPY 5,468 and DPU JPY 5,925, supported by rent growth and remodeling. Guidance targets Adjusted EPU of at least JPY 5,750 and DPU of at least JPY 6,000.