NIPPON REIT Investment Income Statement

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

Millions JPY. Fiscal year is Jul - Jun.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	2016 - 2020
Period Ending	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	2016 - 2020
Rental Revenue	16,445	17,284	15,695	15,622	15,936	Upgrade
Gain (Loss) on Sale of Assets (Rev)	3,716	1,408	251.13	1,728	2,230	Upgrade
Other Revenue	815.97	1	1,460	1,220	1,364	Upgrade
Total Revenue	20,977	18,693	17,413	18,576	19,538	Upgrade
Revenue Growth (YoY	12.22%	7.35%	-6.26%	-4.92%	12.98%	Upgrade
Property Expenses	7,802	7,820	7,863	7,473	7,499	Upgrade
Selling, General & Administrative	134.61	140	119.67	119.92	117.46	Upgrade
Other Operating Expenses	417.91	359	300.23	333.66	324.18	Upgrade
Total Operating Expenses	8,355	8,319	8,283	7,926	7,941	Upgrade
Operating Income	12,622	10,374	9,130	10,650	11,597	Upgrade
Interest Expense	-1,269	-1,458	-802.79	-757.47	-717.53	Upgrade
Interest & Investment Income	9.33	-	0.18	0.16	0.15	Upgrade
Other Non-Operating Income	-262.57	11	-547.28	-523.58	-567.83	Upgrade
EBT Excluding Unusual Items	11,099	8,927	7,780	9,369	10,312	Upgrade
Gain (Loss) on Sale of Assets	-118.44	-169	-238.03	-	-	Upgrade
Asset Writedown	-13.29	-	-8.66	-72.04	-8.67	Upgrade
Other Unusual Items	-	-	13.78	65.38	-	Upgrade
Pretax Income	10,967	8,758	7,547	9,362	10,303	Upgrade
Income Tax Expense	2.39	2	2.21	55.48	1.33	Upgrade
Net Income	10,965	8,756	7,545	9,307	10,302	Upgrade
Net Income to Common	10,965	8,756	7,545	9,307	10,302	Upgrade
Net Income Growth	25.23%	16.05%	-18.93%	-9.66%	26.38%	Upgrade
Basic Shares Outstanding	2	2	2	2	2	Upgrade
Diluted Shares Outstanding	2	2	2	2	2	Upgrade
Shares Change (YoY)	-0.88%	-	-	-	-	Upgrade
EPS (Basic)	6146.68	4865.20	4192.28	5171.24	5724.17	Upgrade
EPS (Diluted)	6146.68	4865.20	4192.28	5171.24	5724.17	Upgrade
EPS Growth	26.34%	16.05%	-18.93%	-9.66%	26.38%	Upgrade
Dividend Per Share	-	-	4192.000	5122.500	5725.000	Upgrade
Dividend Growth	-	-	-18.16%	-10.52%	26.38%	Upgrade
Operating Margin	60.17%	55.50%	52.43%	57.33%	59.36%	Upgrade
Profit Margin	52.27%	46.84%	43.33%	50.10%	52.73%	Upgrade
EBITDA	14,635	12,390	11,143	12,666	13,618	Upgrade
EBITDA Margin	69.77%	66.28%	63.99%	68.18%	69.70%	Upgrade
D&A For Ebitda	2,013	2,016	2,013	2,016	2,021	Upgrade
EBIT	12,622	10,374	9,130	10,650	11,597	Upgrade
EBIT Margin	60.17%	55.50%	52.43%	57.33%	59.36%	Upgrade
Effective Tax Rate	0.02%	0.02%	0.03%	0.59%	0.01%	Upgrade
Revenue as Reported	9,964	-	17,413	18,576	19,538	Upgrade

Updated Jun 30, 2025. Source: S&P Global Market Intelligence. Real Estate template. Financial Sources.