Tokyu REIT, Inc. · TSE:8957

Tokyu REIT — 5th period Earnings Presentation

12 slides from Tokyu REIT's earnings presentation, Mar 29, 2006

  1. Slide 1: 第5期（2006年1月期）決算説明資料

    Topics 第5期 第5期 （2006年1月期） （2006年1月期） 決算説明資料 決算説明資料

  2. Slide 2: Summary of results and overview

    1. ¾ 6,480 ¾ 4,847 5 1,632 ¾ 5,050 2004 8 3 ¾ ¾ 2006 3 29 2006 4 26 2. ¾ ¾ ¾ 3. ¾ ¾ … 4. ¾ ¾ ¾ … 1 2006 3 29

  3. Slide 3: Results overview and external growth

    1. ¾ ¾ ¾ ¾ 44,078.12 34,474 ¾ 6,810 ¾ 2006 4 28 ¾ 183 ¾ 17 3 2. ¾ ¾ ¾ ¾ ¾ 2 2006 3 29

  4. Slide 4: PICASSO347 acquisition and property updates

    1. PICASSO347 ¾ ¾ ¾ ¾ — PICASSO347 2. ¾ ¾ ¾ — [ !] 3. ¾ ¾ 4. ¾ 12F THE LEGIAN TOKYO French Asian cuisine ¾ 3F chef’sV arty Bar & Buffet ¾ 2F Penguin by Munsingwear 3 2006 3 29

  5. Slide 5: REIM asset management strategy

    1. (45% ) ¾ 2006 3 27 ¾ ¾ 2. ¾ ¾ 3. ¾ ¾ REIM 4 2006 3 29

  6. Slide 6: EPS and LTV forecast

    6 - 7 6 2006 7 „ EPS: 21,300 +7,122 ¾ 3,607 +1,206 ‡ +1,636 ‡ 75 9 69 9 +89 9 cocoti 70 ‡ 63 5 ‡ 192 ‡ 87 „ LTV: 33.7% LTV: 31.1% :75.9% 7 2007 1 „ EPS: 13,500 ¾ 6,234 2,287 2,286 „ LTV:33.7% LTV: 31.3% :75.9% ( 1) LTV= + ( 2) LTV= 5 2006 3 29

  7. Slide 7: Property-level income by asset

    5 2006 1 5 4 2006 1 2005 7 (%) (%) (A) 6,343 100.0% 5,684 100.0% 659 (B) 6,280 99.0% 5,684 100.0% 595 5,746 90.6% 5,232 92.0% 513 5,254 82.8% 4,768 83.9% 486 374 63 SBS 43 110 1.7% 97 1.7% 12 11 381 6.0% 366 6.5% 14 13 534 8.4% 452 8.0% 82 458 7.2% 397 7.0% 60 33 SBS 7 5 76 1.2% 54 1.0% 21 17 63 1.0

  8. Slide 8: Balance sheet

    5 2006 1 1,645 11,797 139 57 171,791 162,180 9,611 360 66 13,641 13,318 323 10,112 158,149 148,861 9,287 982 2,158 71,369 82,360 10,990 1 10,500 2 1,000 12,000 29,500 17,500 1,000 11 5,000 13,295 41,000 35,000 6,000 38,341 1,000 658 16,176 15,777 399 5,000 622 113 2,192 2,083 109 322 101,887 66 105

  9. Slide 9: Debt and capital details

    5 2006 1 3,546 3,480 66 2,402 1,960 442 982 928 53 248 161 591 429 144 10,267 15,275 5,007 65 39 10,267 15,332 5,064 399 531 132 400 474 74 6,701 12,153 5,452 17,500 14,000 31,500 6,000 6,000 20,159 20,159 1,958 1,846 111 19 358 378 3,359 3,000 358 3,339 3,359 19 8 2006 3 29

  10. Slide 10: 2006 TOKYU REIT

    5 2006 1 TOKYU RE!T

  11. Slide 11: Income statement

    6 2006 7 7,852 100.0% 6,343 100.0% 1,508 6,215 79.2% 6,280 99.0% 64 5,740 73.1% 5,746 90.6% 5 5,227 66.6% 5,254 82.8% 27 123 1.6% 110 1.7% 13 389 5.0% 381 6.0% 7 6 475 6.1% 534 8.4% 59 425 5.4% 458 7.2% 32 49 0.6% 76 1.2% 26 1,636 20.8% 1,636 63 1.0% 63 3,805 48.5% 3,591 56.6% 214 2,947 37.5% 2,936

  12. Slide 12: Balance sheet comparison

    6 2006 7 173,910 171,791 2,118 14,291 13,641 649 159,619 158,149 1,469 72,282 71,369 912 13,000 12,000 1,000 41,000 41,000 16,176 16,176 2,105 2,192 87 101,627 100,421 1,206 98,019 98,019 3,607 2,401 1,206 31.1% 30.9% 0.2% 33.7% 33.6% 0.1% 158,727 157,806 893 11 2006 3 29

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