Japan · Delayed Price · Currency is JPY Japan Real Estate Investment Earnings Call Transcripts
Fiscal Year 2026
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March 2026 occupancy and internal rent growth strengthened, while acquisitions and property-sale gains supported earnings. EPU is forecast to grow 4% over three periods, with rising interest costs partly offset by rental growth.
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Sep 2025 results beat forecast, with EPU at JPY 2,019 and DPU at JPY 2,511, including Akasaka Park sale gains. Rent growth, improving occupancy and The Link Sapporo underpin forecasts and medium-term EPU/DPU growth targets.
Fiscal Year 2025
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March 2025 occupancy reached 97.6% and EPU rose to JPY 1,955. Medium-term targets are 3% annual EPU growth and 2% DPU growth, supported by rent increases and portfolio replacement.
Fiscal Year 2024
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March 2024 DPU was JPY 12,216 as occupancy and rent trends improved. Asset sales support distributions, while rising rates, construction costs and office supply remain key risks.