NIPPON REIT Investment Income Statement

Financials in millions JPY. Fiscal year is July - June.

Millions JPY. Fiscal year is Jul - Jun.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Jun '25 Jun 30, 2025	Jun '24 Jun 30, 2024	Jun '23 Jun 30, 2023	Jun '22 Jun 30, 2022	Jun '21 Jun 30, 2021
Rental Revenue	15,596	16,445	17,284	15,695	15,622	15,936
Gain (Loss) on Sale of Assets (Rev)	5,592	3,716	1,408	251.13	1,728	2,230
Other Revenue	1,474	815.97	1	1,460	1,220	1,364
Total Revenue	22,668	20,977	18,693	17,413	18,576	19,538
Revenue Growth (YoY	14.31%	12.22%	7.35%	-6.26%	-4.92%	12.98%
Property Expenses	7,713	7,802	7,820	7,863	7,473	7,499
Selling, General & Administrative	128.22	134.61	140	119.67	119.92	117.46
Other Operating Expenses	495.58	417.91	359	300.23	333.66	324.18
Total Operating Expenses	8,336	8,355	8,319	8,283	7,926	7,941
Operating Income	14,331	12,622	10,374	9,130	10,650	11,597
Interest Expense	-1,088	-1,269	-1,458	-802.79	-757.47	-717.53
Interest & Investment Income	26.62	9.33	-	0.18	0.16	0.15
Other Non-Operating Income	-538.26	-262.57	11	-547.28	-523.58	-567.83
EBT Excluding Unusual Items	12,732	11,099	8,927	7,780	9,369	10,312
Gain (Loss) on Sale of Assets	-	-118.44	-169	-238.03	-	-
Asset Writedown	-24.56	-13.29	-	-8.66	-72.04	-8.67
Other Unusual Items	23.45	-	-	13.78	65.38	-
Pretax Income	12,730	10,967	8,758	7,547	9,362	10,303
Income Tax Expense	2.78	2.39	2	2.21	55.48	1.33
Net Income	12,728	10,965	8,756	7,545	9,307	10,302
Net Income to Common	12,728	10,965	8,756	7,545	9,307	10,302
Net Income Growth	31.73%	25.23%	16.05%	-18.93%	-9.66%	26.38%
Basic Shares Outstanding	2	2	2	2	2	2
Diluted Shares Outstanding	2	2	2	2	2	2
Shares Change (YoY)	-1.73%	-0.88%	-	-	-	-
EPS (Basic)	7197.39	6146.68	4865.20	4192.28	5171.24	5724.17
EPS (Diluted)	7197.39	6146.68	4865.20	4192.28	5171.24	5724.17
EPS Growth	34.05%	26.34%	16.05%	-18.93%	-9.66%	26.38%
Dividend Per Share	4778.000	-	-	4192.000	5122.500	5725.000
Dividend Growth	-2.20%	-	-	-18.16%	-10.52%	26.38%
Operating Margin	63.22%	60.17%	55.50%	52.43%	57.33%	59.36%
Profit Margin	56.15%	52.27%	46.84%	43.33%	50.10%	52.73%
EBITDA	16,431	14,635	12,390	11,143	12,666	13,618
EBITDA Margin	72.48%	69.77%	66.28%	63.99%	68.18%	69.70%
D&A For Ebitda	2,099	2,013	2,016	2,013	2,016	2,021
EBIT	14,331	12,622	10,374	9,130	10,650	11,597
EBIT Margin	63.22%	60.17%	55.50%	52.43%	57.33%	59.36%
Effective Tax Rate	0.02%	0.02%	0.02%	0.03%	0.59%	0.01%
Revenue as Reported	22,668	9,964	-	17,413	18,576	19,538

Updated Dec 31, 2025. Source: S&P Global Market Intelligence. Real Estate template. Financial Sources.