Global One Real Estate Investment Corporation TSE:8958

Global One Real Estate Investment : GOR Revises Earnings Forecasts and Dividend Forecast for the Six-Month Period Ending March 2026

Published October 30, 2025 at 6:41 a.m. UTC

Source: MarketScreener

Press Release

30 October 2025

REIT Issuer: Global One Real Estate Investment Corp.

Securities Code: 8958 Representative: Akio Uchida, Executive Director

Asset Manager: Global Alliance Realty Co., Ltd. Representative: Kazunori Yamauchi, President

Contact: Gen Yamazaki General Manager

REIT Finance Department Tel: +81-3-4346-0658

GOR Revises Earnings Forecasts and Dividend Forecast for the Six-Month Period Ending March 2026

Global One Real Estate Investment Corp. ("GOR") announces today that it has revised its earnings forecasts and its forecast on dividend per unit for the six-month period ending March 2026 (the "45th Period": 1 October 2025 - 31 March 2026).

Rationale for revision and announcement
GOR will revise its earnings forecasts and its forecast on dividend per unit as the assumptions for the earnings forecasts for the six-month period ending March 2026 announced in "Summary of Financial Results for the Six-Month Period Ended March 2025 (REIT)" dated 21 May 2025, and the dividend forecast for the six-month period ending March 2026 announced in "GOR Revises Dividend Forecast for the Six-Month Period Ending September 2025 and the Six-Month Period Ending March 2026" dated 16 September 2025, have changed due to the acquisition of assets stated in the press release titled "GOR Announces Acquisition of Trust Beneficiary Interest in Domestic Real Estate (FUKUOKA
K-SQUARE)" announced today.

Revision of earnings forecasts and dividend forecast for the six-month period ending March 2026

Previous forecast

(A)

(17 January 2025)

Revised forecast (B)

Amount of

change (C)=(B-A)

Change (C/A×100)

Operating revenue	7,130	7,358	227	3.2%
	million yen	million yen	million yen
Operating profit	4,308	4,458	150	3.5%
	million yen	million yen	million yen
Ordinary profit	3,759	3,789	29	0.8%
	million yen	million yen	million yen
Net income	3,759	3,788	29	0.8%
	million yen	million yen	million yen
Dividend per unit	3,481 yen	3,507 yen	26 yen	0.7%

Dividend in excess

of profit per unit

--- --- --- ---

(Ref.) Forecasted net income per unit: 3,896 yen

Forecasted total number of investment units issued: 972,337 units

Notes:

Dividend per unit is calculated by dividing the net income minus the reserve for reduction entry of 392 million yen, which is expected to be reserved for the six-month period ending March 2026, plus the reversal of the reserve for reduction entry of 13 million yen, by the number of investment units issued expected at the end of the fiscal period.
The forecasts contained in this document are "current" as of the date of this release, based on the assumptions described in the Exhibit. Actual results may differ (i.e. operating revenue, operating profit, ordinary profit, net income, dividend per unit) depending on various factors. The above forecasts do not guarantee the amount of future dividends.
Should a disparity exceeding a certain percentage arise in the forecasts, revisions may be made.
Amounts of less than one million yen are rounded down to the nearest million yen.

(Reference) Earnings forecasts and dividend forecast for the six-month period ending September 2025
Earnings forecast for the six-month period ending September 2025, which was prepared based on the earnings forecast stated in "Summary of Financial Results for the Six-Month Period Ended March 2025 (REIT)" released on 21 May 2025, and the dividend forecast for the six-month period ending September 2025 stated in "Notice Concerning Revisions to Dividend Forecasts for the Six-Month Periods Ending September 2025 and March 2026" released on 16 September 2025, are as follows.
Operating revenue 8,027 million yen
Operating profit 5,015 million yen
Ordinary profit 4,522 million yen
Net income 4,522 million yen
Dividend per unit 4,187 yen
Dividend in excess of profit per unit ---
(Ref.) Forecasted net income per unit: 4,651 yen
Forecasted total number of investment units issued: 972,337 units
Notes:
1. Dividend per unit is calculated by dividing the net income minus the reserve for reduction entry of 465 million yen, which is expected to be reserved for the six-month period ending September 2025, plus the reversal of the reserve for reduction entry of 13 million yen, by the number of investment units issued expected at the end of the fiscal period.
2. The forecasts contained in this document are "current" as of the date of this release, based on the assumptions described in the Exhibit. Actual results may differ (i.e. operating revenue, operating profit, ordinary profit, net income, dividend per unit) depending on various factors. The above forecasts do not guarantee the amount of future dividends.
3. Should a disparity exceeding a certain percentage arise in the forecasts, revisions may be made.
4. Amounts of less than one million yen are rounded down to the nearest million yen.

Exhibit

Assumptions underlying earnings forecasts for the six-month period ending September 2025 (the 44rd Period) and the six-month period ending March 2026 (the 45th Period)

Items Assumptions

Accounting period The 44th Period: 1 April 2024 - 30 September 2025 (183 days)

The 45th Period: 1 October 2025 - 31 March 2026 (182 days)

Operating assets • Assumes that, in addition to the 12 properties currently owned

as of today, GOR will acquire Fukuoka K-Square and that there will be no other changes (such as additional acquisitions or sales of existing properties) until the fiscal year ending 31 March 2026.

Notwithstanding the above assumption, estimates may change in the event of a change in the portfolio.
Number of units issued • The number of units that have been issued and outstanding as of 31 March 2026 is 972,337 units.
Dividend per unit is calculated based on the above number of units issued, or 972,337.
Operating revenue • Rental revenue takes into account various factors (e.g. tenant
turnover, market trends, and competition in the neighborhood) and assumes that there will be no arrears or nonpayment of rent by tenants.
Rental revenue is expected to decrease with the acquisition of part of Meiji Yasuda Life Insurance Osaka Umeda Building respectively on 25 April 2025 and 24 October 2025 and the transfer of part of Yokohama Plaza Building respectively on 25 April 2025 and 24 October 2025.
Among the operating revenue, 701 million yen of gain on sale of real estate is expected in the 44th Period and 726 million yen in the 45th Period from the transfer of Arca Central, and 2,034 million yen of gain on sale of real estate is expected in the 44th Period and 1,231 million yen in the 45th Period from the transfer of Yokohama Plaza Building.
Operating expenses • Property-related expenses, excluding depreciation and
amortization expenses, are calculated reflecting variable factors based on historical data.
Because the amounts of property tax and city planning tax already paid by the seller are included in the acquisition cost of Meiji Yasuda Life Insurance Osaka Umeda Building, they will not be recorded as operating expenses in the 44th Period and 45th Period. However, property tax and city planning tax for this property due in and after the 46th Period (173 million yen in fiscal 2024, i.e. 86 million yen for six months, excluding depreciated asset tax) will be recorded as operating expenses based on the percentage of ownership as of the levy date in the 46th Period and after.
Property management fees relating to leasing activities are estimated at 530 million yen for the 44th Period and 513 million yen for the 45th Period and tax and public dues at 459 million yen for the 44th Period and 429 million yen for the 45th Period.
Repair and maintenance expenses are estimated at 148 million yen for the 44th Period and 119 million yen for the 45th Period. However, unforeseen emergency repairs may become necessary depending on various factors, and actual repair expenses may exceed the estimates.
Depreciation and amortization expenses, estimated at 760 million yen for the 44th Period and 759 million yen for the 45th Period is calculated on a straight-line basis over the holding period.
Operating expenses other than property-related expenses (e.g. management fees, asset custody fees, and agency fees) are estimated at 722 million yen for the 44th Period and 678 million yen for the 45th Period.
Non-operating expenses • The total non-operating expenses (e.g. interest expenses) are
estimated at 492 million yen for the 44th Period and 668 million yen for the 45th Period.
Borrowings and bonds • As of today, GOR has a total of 72,200 million yen in
outstanding loans, and it is assumed that additional borrowings of 12,500 million yen will be made.
Assumed that loans due during the 44th Period and 45th Period will be fully refinanced.
Dividend per unit may change due to unforeseen fluctuations in interest rates.
As of today, GOR has a total of 15,700 million yen in outstanding corporate bonds issued. It is assumed that additional borrowings of 3,000 million yen will be made.