JAPAN METROPOLITAN FUND INVESTMENT CORPORATION |
BALANCE SHEETS |
As of February 28, 2025 and August 31, 2025 |
As of | (Thousands of yen) | |
February 28, 2025 | August 31, 2025 | |
ASSETS Current assets: Cash and bank deposits | 24,707,235 | 51,894,520 |
Cash and bank deposits in trust | 23,398,404 | 24,567,098 |
Rent receivables | 1,153,666 | 1,141,219 |
Income taxes receivable | 92,093 | 95,181 |
Consumption tax refundable | 622,079 | - |
Derivatives | 12,446 | 73,280 |
Other current assets | 1,842,310 | 2,851,044 |
Total current assets | 51,828,236 | 80,622,345 |
Non-current assets: Property and equipment: Buildings | 3,985,829 | 3,105,996 |
Accumulated depreciation | (1,084,131) | (746,181) |
Buildings, net | 2,901,698 | 2,359,814 |
Building improvements | 86,543 | 51,355 |
Accumulated depreciation | (40,923) | (19,788) |
Building improvements, net | 45,620 | 31,567 |
Furniture and fixtures | 30,551 | 24,307 |
Accumulated depreciation | (18,797) | (13,739) |
Furniture and fixtures, net | 11,753 | 10,567 |
Land | 29,795,784 | 25,058,572 |
Buildings in trust | 376,970,772 | 370,963,473 |
Accumulated depreciation | (140,320,570) | (138,968,645) |
Buildings in trust, net | 236,650,201 | 231,994,827 |
Building improvements in trust | 12,405,021 | 11,520,553 |
Accumulated depreciation | (5,520,123) | (5,251,400) |
Building improvements in trust, net | 6,884,898 | 6,269,153 |
Machinery and equipment in trust | 2,570,792 | 2,580,872 |
Accumulated depreciation | (1,650,919) | (1,645,863) |
Machinery and equipment in trust, net | 919,872 | 935,009 |
Furniture and fixtures in trust | 5,693,418 | 5,673,641 |
Accumulated depreciation | (3,985,586) | (3,948,971) |
Furniture and fixtures in trust, net | 1,707,832 | 1,724,669 |
Land in trust | 947,397,877 | 935,476,595 |
Construction in progress in trust | 373,729 | 476,541 |
Total property and equipment | 1,226,689,269 | 1,204,337,318 |
Intangible assets: Goodwill | 12,839,361 | 12,438,131 |
Leasehold rights in trust | 5,398,386 | 5,267,611 |
Other intangible assets | 162,193 | 149,630 |
Other intangible assets in trust | 47,761 | 70,482 |
Total intangible assets | 18,447,703 | 17,925,855 |
Investment and other assets: Investment securities | 21,058,359 | 21,002,851 |
Lease deposits in trust | 1,494,188 | 1,472,980 |
Long-term prepaid expenses | 3,524,100 | 3,507,574 |
Derivatives | 409,494 | 312,392 |
Other investments | 18,368 | 49,610 |
Total investment and other assets | 26,504,512 | 26,345,409 |
Total non-current assets | 1,271,641,484 | 1,248,608,583 |
Deferred assets: Investment unit issuance costs | 53,856 | 43,432 |
Investment corporation bond issuance costs | 109,495 | 91,877 |
Total deferred assets | 163,352 | 135,310 |
TOTAL ASSETS | 1,323,633,073 | 1,329,366,239 |
(To be continued on the following page)
As of | (Thousands of yen) | |
February 28, 2025 | August 31, 2025 | |
LIABILITIES AND NET ASSETS Current liabilities: Accounts payable - operating | 5,269,363 | 5,780,311 |
Short-term borrowings | 21,300,000 | 18,400,000 |
Current portion of long-term bonds issued - unsecured | - | 9,500,000 |
Current portion of long-term borrowings | 60,975,000 | 51,850,000 |
Accounts payable - other | 36,348 | 30,102 |
Accrued expenses | 2,346,797 | 2,664,724 |
Income taxes payable | 605 | 605 |
Consumption tax payable | - | 2,402,963 |
Rent received in advance | 4,982,129 | 5,075,847 |
Deposits received | 1,525,238 | 3,456,059 |
Current portion of tenant leasehold and security deposits in trust | 68,065 | 68,065 |
Other current liabilities | 78,622 | 74,167 |
Total current liabilities | 96,582,170 | 99,302,846 |
Non-current liabilities: Long-term bonds issued - unsecured | 43,500,000 | 34,000,000 |
Long-term borrowings | 474,870,000 | 486,895,000 |
Tenant leasehold and security deposits | 1,860,497 | 1,774,314 |
Tenant leasehold and security deposits in trust | 57,995,386 | 57,114,915 |
Asset retirement obligations | 835,115 | 839,343 |
Other non-current liabilities | 72,388 | 59,194 |
Total non-current liabilities | 579,133,387 | 580,682,768 |
TOTAL LIABILITIES | 675,715,557 | 679,985,614 |
Net Assets | ||
Unitholders' equity: | ||
Unitholders' capital | 431,544,393 | 431,544,393 |
Surplus: | ||
Capital surplus | 202,855,188 | 202,855,188 |
Deduction from capital surplus | (12,999,761) | (12,999,761) |
Capital surplus, net | 189,855,426 | 189,855,426 |
Voluntary reserve | ||
Reserve for reduction entry of property | 2,176,905 | 2,176,265 |
Reserve for dividends | 3,536,701 | 3,139,454 |
Total voluntary reserve | 5,713,607 | 5,315,719 |
Retained earnings | 19,799,519 | 21,697,204 |
Total surplus | 215,368,553 | 216,868,350 |
Total unitholders' equity | 646,912,946 | 648,412,743 |
Valuation and translation adjustments: | ||
Net unrealized holding gains (losses) on investment securities | 582,626 | 582,207 |
Deferred gains on hedges | 421,941 | 385,673 |
Total valuation and translation adjustments | 1,004,568 | 967,880 |
TOTAL NET ASSETS | 647,917,515 | 649,380,624 |
TOTAL LIABILITIES AND NET ASSETS | 1,323,633,073 | 1,329,366,239 |
JAPAN METROPOLITAN FUND INVESTMENT CORPORATION |
STATEMENTS OF INCOME AND RETAINED EARNINGS |
For the Six Months Ended |
February 28, 2025 and August 31, 2025 |
(Thousands of yen) | ||
For the six months ended | ||
February 28, 2025 | August 31, 2025 | |
Operating revenues Rent and other operating revenues | 42,329,287 | 43,874,370 |
Gain on sales of property | 3,493,036 | 4,774,515 |
Dividend income | 493,507 | 676,141 |
Total operating revenues | 46,315,830 | 49,325,027 |
Operating expenses Property-related expenses | 19,162,524 | 19,613,390 |
Asset management fees | 3,846,089 | 4,155,917 |
Custodian fees | 33,860 | 34,235 |
General administration fees | 153,828 | 158,255 |
Compensation for Directors | 5,782 | 5,782 |
Amortization of goodwill | 401,230 | 401,230 |
Other operating expenses | 595,067 | 662,895 |
Total operating expenses | 24,198,382 | 25,031,708 |
Operating income | 22,117,447 | 24,293,318 |
Non-operating revenues Interest income | 18,898 | 44,296 |
Other non-operating revenues | 2,476 | 4,136 |
Total non-operating revenues | 21,375 | 48,433 |
Non-operating expenses Interest expenses | 1,734,352 | 2,032,360 |
Interest expenses on investment corporation bonds | 160,450 | 139,470 |
Amortization of investment corporation bond issuance costs | 19,550 | 17,617 |
Amortization of investment unit issuance costs | 8,686 | 10,423 |
Loan-related costs | 414,171 | 442,557 |
Other non-operating expenses | 1,487 | 1,512 |
Total non-operating expenses | 2,338,698 | 2,643,943 |
Ordinary income | 19,800,124 | 21,697,809 |
Income before income taxes | 19,800,124 | 21,697,809 |
Income taxes Current | 605 | 605 |
Total income taxes | 605 | 605 |
Net income | 19,799,519 | 21,697,204 |
Unappropriated earnings at beginning of period | - | - |
Retained earnings at the end of period | 19,799,519 | 21,697,204 |
JAPAN METROPOLITAN FUND INVESTMENT CORPORATION |
STATEMENTS OF CASH FLOWS |
For the Six Months Ended |
February 28, 2025 and August 31, 2025 |
(Thousands of yen) | ||
For the six months ended | ||
February 28, 2025 | August 31, 2025 | |
Cash Flows from Operating Activities: Income before income taxes Adjustments to reconcile income before income taxes to net cash provided by | 19,800,124 | 21,697,809 |
operating activities: Depreciation | 5,679,554 | 5,684,165 |
Amortization of goodwill | 401,230 | 401,230 |
Amortization of investment corporation bond issuance costs | 19,550 | 17,617 |
Amortization of investment unit issuance costs | 8,686 | 10,423 |
Gain on sales of property | (3,493,036) | (4,774,515) |
Loss on retirement of non-current assets | 126,986 | 31,539 |
Interest income | (18,898) | (44,296) |
Interest expenses | 1,894,803 | 2,171,831 |
(Increase) decrease in rent receivables | (202,051) | 14,797 |
(Increase) decrease in income taxes receivable | (14,522) | (3,087) |
(Increase) decrease in consumption tax refundable | (622,079) | 622,079 |
(Increase) decrease in long-term prepaid expenses | (224,205) | 16,526 |
Increase (decrease) in accounts payable - operating | (334,595) | 652,746 |
Increase (decrease) in consumption tax payable | (523,703) | 2,402,963 |
Increase (decrease) in accounts payable - other | (1,175) | (7,016) |
Increase (decrease) in accrued expenses | 51,135 | 45,708 |
Increase (decrease) in rent received in advance | 311,806 | 93,717 |
Increase (decrease) in deposits received | (1,085,783) | 1,290,728 |
Other, net | 4,353 | (943,985) |
Sub total | 21,778,180 | 29,380,984 |
Interest received | 18,898 | 44,296 |
Interest expenses paid | (1,857,314) | (2,084,031) |
Income taxes paid | (605) | (605) |
Net cash provided by operating activities | 19,939,159 | 27,340,644 |
Cash Flows from Investing Activities: Purchase of property and equipment | (35,841) | (9,394) |
Proceeds from sales of property and equipment | - | 5,459,655 |
Purchase of property and equipment in trust | (74,258,345) | (11,682,807) |
Proceeds from sales of property and equipment in trust | 7,226,169 | 28,106,143 |
Payments for sales of property and equipment in trust | (22,036) | (59,113) |
Purchase of intangible assets | (62,591) | (21,179) |
Purchase of intangible assets in trust | (13,277) | (28,882) |
Proceeds from sales of intangible assets in trust | 42,080 | 169,162 |
Payments of tenant leasehold and security deposits | (75,177) | (98,855) |
Proceeds from tenant leasehold and security deposits | 17,088 | 12,904 |
Payments of tenant leasehold and security deposits in trust | (1,003,657) | (2,867,453) |
Proceeds from tenant leasehold and security deposits in trust | 3,251,900 | 2,192,836 |
Payments of lease deposits in trust | (1,177) | - |
Proceeds from lease deposits in trust | 10,029 | 21,207 |
Investment in securities | (1,186,758) | - |
Proceeds from investment securities | 842,883 | 55,089 |
Payments for restricted bank deposits in trust | (7) | - |
Other expenditures | (17,322) | (37,474) |
Net cash provided by (used in) investing activities | (65,286,038) | 21,211,836 |
Cash Flows from Financing Activities: Proceeds from short-term borrowings | 24,700,000 | 400,000 |
Repayments of short-term borrowings | (7,400,000) | (3,300,000) |
Proceeds from long-term borrowings | 65,050,000 | 34,875,000 |
Repayments of long-term borrowings | (28,350,000) | (31,975,000) |
Redemption of investment corporation bonds | (7,000,000) | - |
Proceeds from issuance of investment units | 19,603,767 | - |
Distribution payments | (16,093,151) | (20,196,502) |
Net cash provided by (used in) financing activities | 50,510,615 | (20,196,502) |
Net change in cash and cash equivalents | 5,163,737 | 28,355,979 |
Cash and cash equivalents at the beginning of period | 42,306,364 | 47,470,101 |
Cash and cash equivalents at the end of period | 47,470,101 | 75,826,081 |
Outline of portfolio properties 1
No. | Name of property | Location | Form of ownership | Leasable area | Appraisal value at end of period | Net book value |
(Note 1) | (Note 2) | (Note 3) | (Note 4) | |||
(m2) | (Millions of yen) | (Millions of yen) | ||||
10001 | Abiko Shopping Plaza | 11-1, Abiko 4-chome, Abiko-shi, Chiba | Trust beneficial interest | 38,881.75 | 13,500 | 9,091 |
10003 | Ito-Yokado Yabashira | 15-8, Higurashi 1-chome, Matsudo-shi, Chiba, etc. | Trust beneficial interest | 21,308.78 | 1,870 | 1,187 |
10004 | JMF-Bldg. Daikanyama 02 | 35-17, Ebisu-Nishi 1-chome, Shibuya-ku, Tokyo | Trust beneficial interest | 612.29 | 1,620 | 1,171 |
10005 | GYRE | 10-1, Jingumae 5-chome, Shibuya-ku, Tokyo | Trust beneficial interest | 4,865.04 | 33,500 | 21,606 |
10007 | Bic Camera Tachikawa | 12-2, Akebonocho 2-chome, Tachikawa-shi, Tokyo, etc. | Trust beneficial interest | 20,983.43 | 22,500 | 13,347 |
10008 | AEON Itabashi Shopping Center | 6-1, Tokumaru 2-chome, Itabashi-ku, Tokyo | Trust beneficial interest | 72,748.34 | 13,000 | 10,280 |
10009 | JMF-Bldg. Kita Aoyama 01 | 14-8, Kita-Aoyama 3-chome, Minato-ku, Tokyo | Trust beneficial interest | 492.69 | 1,700 | 908 |
10011 | SEIYU Hibarigaoka | 9-8, Sumiyoshicho 3-chome, Nishi-Tokyo-shi, Tokyo | Trust beneficial interest | 19,070.88 | 8,700 | 4,393 |
10012 | JMF-Bldg. Jiyugaoka 01 | 9-17, Jiyugaoka 2-chome, Meguro-ku, Tokyo, etc. | Trust beneficial interest | 2,043.68 | 5,260 | 2,616 |
10013 | Cheers Ginza | 9-5, Ginza 5-chome, Chuo-ku, Tokyo | Trust beneficial interest | 1,686.58 | 4,810 | 3,816 |
10014 | Higashi-Totsuka Aurora City | 537-1, Shinanocho, Totsuka-ku, Yokohama-shi, Kanagawa, etc. | Trust beneficial interest | 109,406.91 | 44,500 | 43,272 |
10016 | G-Bldg. Jingumae 06 | 28-3, Jingumae 6-chome, Shibuya-ku, Tokyo | Real property | 670.42 | 3,000 | 2,314 |
10017 | G-Bldg. Jingumae 01 | 21-5, Jingumae 4-chome, Shibuya-ku, Tokyo | Real property | 555.75 | 4,630 | 3,368 |
10020 | AEON MALL Musashi Murayama | 1-3, Enoki 1-chome, Musashimurayama-shi, Tokyo | Trust beneficial interest | 137,466.97 | 31,800 | 23,260 |
10021 | La Porte Aoyama (Note 5) | 51-8, Jingumae 5-chome, Shibuya-ku, Tokyo | Trust beneficial interest | 4,158.53 | 10,800 | 8,974 |
10024 | G-Bldg. Minami-Ikebukuro 01 (Note 5) | 19-5, Minami Ikebukuro 1-chome, Toshima-ku, Tokyo | Trust beneficial interest | 5,232.59 | 10,900 | 6,197 |
10025 | Makuhari Plaza | 7701, Makuharicho 2-chome, Hanamigawa-ku, Chiba-shi, Chiba | Trust beneficial interest | 24,505.37 | 7,050 | 5,134 |
10026 | Urban Terrace Jingumae | 47-6, Jingumae 5-chome, Shibuya-ku, Tokyo | Trust beneficial interest | 1,719.19 | 5,320 | 2,644 |
10027 | Round1 Machida | 13-14, Morino 1-chome, Machida-shi, Tokyo | Trust beneficial interest | 6,801.89 | 3,350 | 2,182 |
10028 | Round1 Stadium Itabashi | 16-13, Aioicho, Itabashi-ku, Tokyo | Trust beneficial interest | 14,828.74 | 3,240 | 2,099 |
10029 | Arkangel Daikanyama (Land with leasehold interest) | 111-14, Aobadai 1-chome, Meguro-ku, Tokyo, etc. | Trust beneficial interest | 904.04 | 1,810 | 1,012 |
10030 | G-Bldg. Omotesando 01 | 1-9, Jingumae 6-chome, Shibuya-ku, Tokyo | Real property | 1,508.03 | 13,500 | 5,730 |
10031 | Round1 Yokohama Station West | 8-16, Minamisaiwai 2-chome, Nishi-ku Yokohama-shi, Kanagawa | Trust beneficial interest | 6,560.09 | 5,570 | 3,649 |
10032 | G-Bldg. Sangenjaya 01 | 15-4, Taishido 2-chome, Setagaya-ku, Tokyo | Trust beneficial interest | 3,471.52 | 7,890 | 3,566 |
10035 | Colline Bajikouen | 4-18, Kamiyoga 2-chome, Setagaya-ku, Tokyo | Trust beneficial interest | 5,356.54 | 4,540 | 3,251 |
10036 | KAWASAKI Le FRONT | 1-11, Nissincho, Kawasaki-ku, Kawasaki-shi, Kanagawa, etc. | Trust beneficial interest | 49,203.94 | 45,000 | 35,146 |
10037 | JMF-Bldg. Shibuya 01 | 20-13, Jinnan1-chome, Shibuya-ku, Tokyo | Trust beneficial interest | 1,630.03 | 5,100 | 2,998 |
10038 | G-Bldg. Omotesando 02 | 25-15, Jingumae 4-chome, Shibuya-ku, Tokyo, etc. | Trust beneficial interest | 5,555.65 | 22,400 | 17,697 |
10039 | G-Bldg. Kichijoji 01 | 12-12, Kichijoji Honcho 2-chome, Musashino-shi, Tokyo | Trust beneficial interest | 1,718.21 | 4,080 | 3,495 |
10040 | CUTE CUBE HARAJUKU | 7-1, Jingumae 1-chome, Shibuya-ku, Tokyo | Trust beneficial interest | 1,428.55 | 11,400 | 8,398 |
10041 | G-Bldg. Ueno 01 | 9-14, Ueno 4-chome, Taito-ku, Tokyo | Trust beneficial interest | 1,471.80 | 3,980 | 3,400 |
10042 | JMF-Bldg. Takadanobaba 01 | 13-2, Takadanobaba 2-chome, Shinjuku-ku, Tokyo | Trust beneficial interest | 3,569.20 | 7,900 | 5,925 |
10043 | G-Bldg. Akihabara 01 | 11-11, Sotokanda 1-chome, Chiyoda-ku, Tokyo | Trust beneficial interest | 2,701.99 | 8,220 | 5,067 |
No. | Name of property | Location | Form of ownership | Leasable area | Appraisal value at end of period | Net book value |
(Note 1) | (Note 2) | (Note 3) | (Note 4) | |||
(m2) | (Millions of yen) | (Millions of yen) | ||||
10044 | G-Bldg. Akihabara 02 | 113, Kanda Matsunaga-cho, Chiyoda-ku, Tokyo, etc. | Trust beneficial interest | 1,037.33 | 2,320 | 2,436 |
10045 | G-Bldg. Kichijoji 02 | 3-13, Kichijoji Minamicho 2-chome, Musashino-shi, Tokyo | Trust beneficial interest | 8,838.79 | 16,400 | 14,878 |
10046 | JMF-Bldg. Ginza Chuo-Dori 01 | 6-16, Ginza 2-chome, Chuo-ku, Tokyo | Trust beneficial interest | 3,141.07 | 14,400 | 12,894 |
10047 | MARINE & WALK YOKOHAMA | 3-1, Shinko 1-chome, Naka-ku, Yokohama-shi, Kanagawa | Trust beneficial interest | 8,347.68 | 11,800 | 10,297 |
10048 | G-Bldg. Jingumae 07 | 26-4 Jingumae 4-chome, Shibuya-ku, Tokyo | Real property | 373.12 | 2,640 | 2,022 |
10049 | G-Bldg. Minami Aoyama 03 (Note 5) | 2-12, Minami Aoyama 5-chome, Minato-ku, Tokyo, etc. | Trust beneficial interest | 1,373.46 | 11,700 | 12,242 |
10050 | JMF-Bldg. Jingumae 02 | 25-5 Jingumae 3-chome, Shibuya-ku, Tokyo | Trust beneficial interest | 802.40 | 2,190 | 2,586 |
10051 | Round1 Stadium Kawasaki Daishi | 5-1, Tonomachi 1-chome, Kawasaki-ku, Kawasaki-shi, Kanagawa | Trust beneficial interest | 13,559.17 | 3,010 | 2,332 |
10052 | m-city Kashiwa | 10 Oyamadai 1-chome, kashiwa-shi, Chiba, etc. | Trust beneficial interest | 20,437.36 | 6,100 | 5,634 |
10053 | JMF-Bldg. Jingumae 03 | 25-28 Jingumae 4-chome, Shibuya-ku, Tokyo, etc. | Trust beneficial interest | 1,127.08 | 7,260 | 7,079 |
10054 | Machinoma Omori | 1-38, Omorinishi 3-chome, Ota-ku, Tokyo | Trust beneficial interest | 9,107.13 | 9,920 | 8,716 |
10055 | JMF-Bldg. Daikanyama 01 | 20-20, Daikanyamacho, Shibuya-ku, Tokyo | Trust beneficial interest | 2,151.32 | 3,920 | 3,239 |
10056 | AEON MALL Tsudanuma | 23-1 Tsudanuma 1-chome, Narashino-shi, Chiba | Trust beneficial interest | 101,210.44 | 29,300 | 28,927 |
10057 | JMF-Bldg. Yokohama Bashamichi 01 (Note 5) | 50-1, Honmachi 6-chome, Naka-ku, Yokohama-shi, Kanagawa | Trust beneficial interest | 25,150.69 | 25,300 | 23,944 |
10058 | JMF-Bldg. Kawasaki 01 (Note 5) | 1-14 Nisshin-cho, Kawasaki-ku, Kawasaki-shi, Kanagawa | Trust beneficial interest | 24,485.71 | 22,400 | 23,801 |
10059 | JMF-Bldg. Shibuya 02 (Note 5) | 31-15, Sakuragaokacho, Shibuya-ku, Tokyo | Trust beneficial interest | 6,379.66 | 19,900 | 19,442 |
10060 | JMF-Bldg. Shibuya 03 (Note 5) | 11-1 Dogenzaka 2-chome, Shibuya-ku, Tokyo | Trust beneficial interest | 5,043.52 | 17,300 | 16,862 |
10061 | JMF-Bldg. Toyocho 01 (Note 5) | 11-38 Toyo 4-chome, Koto-ku, Tokyo | Trust beneficial interest | 12,487.75 | 10,600 | 11,525 |
10062 | OMO3 Tokyo Akasaka (Note 5) | 3-2, Akasaka 4-chome, Minato-ku, Tokyo | Trust beneficial interest | 4,236.46 | 8,290 | 7,811 |
10063 | JMF-Bldg. Nihombashi Hamacho 01 (Note 5) | 12-4, Nihombashi Hamacho 2-chome, Chuo-ku, Tokyo | Trust beneficial interest | 6,123.81 | 10,800 | 10,509 |
10065 | JMF-Bldg. Sasazuka 01 (Note 5) | 1-6 Sasazuka 2-chome, Shibuya-ku, Tokyo | Trust beneficial interest | 8,313.04 | 9,430 | 9,093 |
10066 | JMF-Bldg. Ueno 01 (Note 5) | 24-8, Higashiueno 5-chome, Taito-ku, Tokyo | Trust beneficial interest | 6,858.16 | 9,250 | 8,743 |
10067 | JMF-Bldg. Yokohama 01 (Note 5) | 5-1 Sakae-cho, Kanagawa-ku, Yokohama-shi, Kanagawa | Trust beneficial interest | 12,718.10 | 10,400 | 8,170 |
10068 | JMF-Bldg. Akasaka 01 (Note 5) | 11-28, Akasaka 1-chome, Minato-ku, Tokyo | Trust beneficial interest | 2,544.21 | 4,520 (Note 9) | 4,508 |
10069 | JMF-Bldg. Kanda01 (Note 5) | 1-15, Iwamotocho 2-chome, Chiyoda-ku, Tokyo | Trust beneficial interest | 3,145.67 | 4,580 | 4,330 |
10070 | JMF-Bldg. Edogawabashi 01 (Note 5) | 44-10, Sekiguchi 1-chome, Bunkyo-ku, Tokyo | Trust beneficial interest | 3,434.93 | 3,500 | 3,809 |
10071 | JMF-Bldg. Higashi Nihombashi 01 (Note 5) | 8-3 Higashi-Nihombashi 2-chome, Chuo-ku, Tokyo | Trust beneficial interest | 3,254.74 | 3,730 | 3,272 |
10072 | JMF-Bldg. Ichigaya 01 (Note 6) | 2-1 Kudankita 4-chome, Chiyoda-ku, Tokyo | Trust beneficial interest | 10,372.27 | 22,500 | 21,458 |
10073 | JMF-Bldg. Hiroo 01 (Note 6) | 1-11 Minamiazabu 5-chome, Minato-ku, Tokyo | Trust beneficial interest | 4,212.41 | 10,600 | 10,072 |
10074 | JMF-Bldg. Funabashi 01 | 44-35 Honcho 4-chome, Funabashi-shi, Chiba | Trust beneficial interest | 2,865.76 | 5,520 | 5,076 |
10075 | JMF-Bldg. Akasaka 02 (Note 5) | 3-5 Akasaka 2-chome, Minato-ku, Tokyo | Trust beneficial interest | 12,202.96 | 45,000 | 43,737 |
10076 | JMF-Residence Gakugeidaigaku (Note 5) | 9-13 Nozawa 3-chome, Setagayaku, Tokyo | Trust beneficial interest | 1,052.13 | 1,860 | 1,555 |
10077 | JMF-Residence Kita-Shinagawa (Note 5) | 24-7, Kita-shinagawa 2-chome, Shinagawa-ku, Tokyo | Trust beneficial interest | 1,487.13 | 2,400 | 1,894 |
10078 | JMF-Residence Ikebukuro 1-chome (Note 5) | 16-15, Ikebukuro 1-chome, Toshima-ku, Tokyo | Trust beneficial interest | 1,357.18 | 1,860 | 1,678 |
No. | Name of property | Location | Form of ownership | Leasable area | Appraisal value at end of period | Net book value |
(Note 1) | (Note 2) | (Note 3) | (Note 4) | |||
(m2) | (Millions of yen) | (Millions of yen) | ||||
10079 | JMF-Bldg. Nakano 01 | 19-2, Nakano 2-chome, Nakano-ku, Tokyo | Trust beneficial interest | 3,023.17 | 4,270 | 4,045 |
10080 | JMF-Residence Fujisawa (Note 5) | 1-28, Kawana 1-chome, Fujisawa-shi, Kanagawa | Trust beneficial interest | 1,711.13 | 1,370 | 1,273 |
10081 | JMF-Residence Shin-Yokohama (Note 5) | 18-15, Shi-Yokohama 2-chome, Kohoku-ku, Yokohama-shi, Kanagawa | Trust beneficial interest | 4,029.52 | 3,530 | 3,348 |
10082 | JMF-Residence Akabane Shimo (Note 5) | 4-13, Shimo 1-chome, Kita-ku, Tokyo | Trust beneficial interest | 2,740.30 | 2,560 | 2,323 |
10083 | JMF-Residence Machida (Note 5) | 21-24, Haramachida 2-chome, Machida-shi, Tokyo | Real property | 4,693.77 | 4,510 | 4,192 |
10084 | JMF-Residence Setagaya Mishuku (Note 5) | 11-17, Mishuku 2-chome, Setagaya-ku, Tokyo | Trust beneficial interest | 2,660.21 | 3,450 | 3,091 |
10085 | JMF-Residence Shin-itabashi (Note 5) | 26-13, Itabashi 4-chome, Itabashi-ku, Tokyo | Trust beneficial interest | 1,305.01 | 1,620 | 1,427 |
10086 | JMF-Residence Kuramae 2-chome (Note 5) | 10-8, Kuramae 2-chome, Taito-ku, Tokyo | Trust beneficial interest | 2,161.83 | 3,400 | 3,076 |
10087 | JMF-Residence Kuramae Torigoe (Note 5) | 2-2, Torigoe 2-chome, Taito-ku, Tokyo | Trust beneficial interest | 1,503.78 | 2,220 | 1,968 |
10088 | JMF-Residence Asakusabashi 3-chome (Note 5) | 9-3, Asakusabashi 3-chome, Taito-ku, Tokyo | Trust beneficial interest | 2,926.16 | 4,750 | 4,336 |
10089 | G-Bldg. Jingumae 10 | 5-6, Jingumae 4-chome, Shibuya-ku, Tokyo | Trust beneficial interest | 2,721.27 | 10,100 | 7,306 |
10090 | JMF-Bldg. Yokohama Kohoku 01 (Note 5) | 30-1, Nakagawa-chuo 1- chome, Tsuzuki-ku, Yokohama-shi, Kanagawa, etc | Trust beneficial interest | 8,894.18 | 6,560 | 5,620 |
10091 | unimo chiharadai (Note 5) | 4-1, Chiharadai-nishi 3chome, Ichihara-shi, Chiba, etc | Trust beneficial interest | 47,752.12 | 35,900 | 31,353 |
10092 | CROSS MUKOGAOKA (Note 5) | 2779-1, Aza-Kou-Kouchi Noborito, Tama-ku, Kawasaki-shi, Kanagawa | Trust beneficial interest | 6,771.29 | 6,220 | 4,874 |
20002 | Kyoto Family | 1-1, Ikejiricho, Yamanouchi, Ukyo-ku, Kyoto-shi, Kyoto | Trust beneficial interest | 19,527.34 | 6,580 | 5,742 |
20003 | Kawaramachi OPA | 385, Komeyacho, Shijo-agaru, Kawaramachi-dori, Nakagyo-ku, Kyoto-shi, Kyoto | Trust beneficial interest | 18,848.20 | 13,800 | 17,717 |
20004 | AEON MALL Tsurumi Ryokuchi | 17-1, Tsurumi 4-chome, Tsurumi-ku, Osaka-shi, Osaka | Trust beneficial interest | 138,538.63 | 6,400 | 5,426 |
20005 | AEON MALL Itami | 1-1, Fujinoki 1-chome, Itami-shi, Hyogo | Trust beneficial interest | 157,904.26 | 17,700 | 18,707 |
20006 | Ario Otori | 199-12, Otori Minami-cho 3-cho, Nishi-ku, Sakai-shi, Osaka, etc. | Trust beneficial interest | 95,135.36 | 14,700 | 12,498 |
20007 | AEON MALL Kobe Kita | 1-1, Kouzudai 8-chome, Kita-ku, Kobe-shi, Hyogo | Trust beneficial interest | 128,050.62 | 11,830 | 7,437 |
20009 | LIFE Shimodera (Land with leasehold interest) | 5-23, Shimodera 2-chome, Naniwa-ku, Osaka-shi, Osaka, etc. | Real property | 4,344.18 | 2,280 | 1,717 |
20010 | LIFE Taiheiji (Land with leasehold interest) | 43-6, Taiheiji 2-chome, Higashi Osaka-shi, Osaka | Real property | 3,898.01 | 1,060 | 1,304 |
20011 | G-Bldg. Shinsaibashi 01 | 5-3, Sinsaibashi-suji 2-chome, Chuo-ku, Osaka-shi, Osaka | Trust beneficial interest | 966.52 | 3,610 | 1,600 |
20012 | Round1 Stadium Sennichimae (Land with leasehold interest) | 1, Namba 1-chome, Chuo-ku, Osaka-shi, Osaka, etc. | Trust beneficial interest | 1,711.63 | 14,400 | 8,091 |
20013 | G-Bldg. Shinsaibashi 02 | 3-24, Shinsaibashi-suji 1-chome, Chuo-ku, Osaka-shi, Osaka | Trust beneficial interest | 948.72 | 8,660 | 4,186 |
20014 | Izumisano Shofudai (Land with leasehold interest) | 1138-1, Shofudai 1-chome, Izumisano-shi, Osaka | Trust beneficial interest | 44,009.52 | 2,710 | 2,657 |
20015 | Round1 Stadium Sakai Chuo Kanjyo | 241, Ishihara-cho 2-cho, Higashi-ku Sakai-shi, Osaka | Trust beneficial interest | 17,521.46 | 2,330 | 1,505 |
20016 | pivo Izumi Chuo | 1-2, Ibukino 5-chome, Izumi-shi, Osaka, etc. | Trust beneficial interest | 21,182.94 | 6,290 (Note 9) | 4,910 |
20017 | KAMISHIN PLAZA | 6-12, Osumi 1-chome, Higashiyodogawa-ku, Osaka-shi, Osaka | Trust beneficial interest | 12,728.78 | 5,610 | 4,560 |
20018 | Round1 Kyoto Kawaramachi | 585, Uraderacho, Shijo-agaru yori Rokkaku-sagaru made, Teramachi-dori, Nakagyo-ku, Kyoto-shi, Kyoto, etc. | Trust beneficial interest | 8,821.66 | 3,720 | 2,675 |
20019 | G-Bldg. Shinsaibashi 03 | 2-14, Shinsaibashi-suji 1-chome, Chuo-ku, Osaka-shi, Osaka, etc. | Trust beneficial interest | 5,319.30 | 31,100 | 30,126 |
20021 | m-city Toyonaka | 2-18, Hinode-cho, 2-chome, Toyonaka-shi, Osaka | Trust beneficial interest | 33,301.93 | 6,740 | 4,966 |
20022 | EDION Kyobashi (Land with leasehold interest) | 53-1, Gamo 1-chome, Joto-ku, Osaka-shi, Osaka, etc. | Trust beneficial interest | 4,307.16 | 6,060 | 5,756 |
20023 | JMF-Bldg. Abeno 01 | 4-7, Abenosuji 1-chome, Abeno-ku, Osaka-shi, Osaka | Trust beneficial interest | 4,757.35 | 5,730 | 4,606 |
No. | Name of property | Location | Form of ownership | Leasable area | Appraisal value at end of period | Net book value |
(Note 1) | (Note 2) | (Note 3) | (Note 4) | |||
(m2) | (Millions of yen) | (Millions of yen) | ||||
20024 | JMF-Bldg. Umeda 01 | 15-22, Chayamachi, Kita-ku, Osaka-shi, Osaka | Trust beneficial interest | 3,529.51 | 10,300 | 9,690 |
20025 | G-Bldg. Shinsaibashi 04 | 10-5, Minamisenba 3-chome, Chuo-ku, Osaka-shi, Osaka, etc. | Trust beneficial interest | 1,610.63 | 3,480 | 3,286 |
20026 | JMF-Bldg. Kyoto Kawaramachi 01 | 235, Yamazakicho 2-chome, Sanjo-sagaru, Kawaramachi-dori, Nakagyo-ku, Kyoto-shi, Kyoto | Trust beneficial interest | 2,407.32 | 2,510 | 2,127 |
20027 | JMF-Bldg. Midosuji 01 | 10-25, Minamisenba 3-chome, Chuo-ku, Osaka-shi, Osaka | Trust beneficial interest | 2,393.40 | 9,450 | 10,591 |
20028 | G-Bldg. Kobe Sannomiya 01 | 1-15 Kitanagasa-dori 3-chome, Chuo-ku, Kobe-shi, Hyogo | Trust beneficial interest | 3,750.38 | 3,090 | 3,237 |
20030 | G-Bldg. Midosuji 02 | 8-18 Shinsaibashisuji 2-chome, Chuo-ku, Osaka-shi, Osaka | Trust beneficial interest | 1,428.28 | 31,900 | 15,490 |
20031 | Twin 21 (Note 5) | 1-61 Shiromi 2-chome, Chuo-ku, Osaka-shi, Osaka | Trust beneficial interest | 85,084.90 | 72,400 | 60,860 |
20032 | JMF-Bldg. Kitahama 01 (Note 5) | 6-7 Doshomachi 1-chome, Chuo-ku, Osaka-shi, Osaka | Trust beneficial interest | 10,189.49 | 13,500 | 11,111 |
20033 | JMF-Bldg. Osaka Fukushima 01 (Note 5) | 15-26, Fukushima 7-chome, Fukushima-ku, Osaka-shi, Osaka | Trust beneficial interest | 10,078.72 | 9,950 | 8,595 |
20034 | JMF-Bldg. Higobashi 01 (Note 5) | 5-16 Edobori 1-chome, Nishi-ku, Osaka-shi, Osaka | Trust beneficial interest | 4,655.57 | 5,530 | 4,236 |
20035 | Konami Sports Club Kyobashi (Note 7) | 8-17 Higashinoda-machi 1-chome, Miyakojima-ku, Osaka-shi, Osaka | Trust beneficial interest | 9,586.26 | 3,050 | 3,309 |
20036 | JMF-Bldg. Imabashi 01 (Note 5) | 3-16 Imabashi 2-chome, Chuo-ku, Osaka-shi, Osaka | Trust beneficial interest | 4,277.63 | 3,060 | 2,563 |
20037 | JMF-Bldg. Nishi Hommachi 01 (Note 5) | 6-1 Awaza 1-chome, Nishi-ku, Osaka-shi, Osaka | Trust beneficial interest | 3,849.06 | 3,320 | 2,657 |
20038 | G-Bldg. Shinsaibashi 05 | 8-5 Shinsaibashi-suji 2-chome, Chuo-ku, Osaka-shi, Osaka | Trust beneficial interest | 999.29 | 13,500 | 9,091 |
20039 | JMF-Residence Osaka Noda (Note 5) | 1-20, Tamagawa 3-chome, Fukushima-ku, Osaka-shi, Osaka | Trust beneficial interest | 1,989.40 | 1,610 | 1,427 |
20040 | JMF-Residence Osaka Fukushima (Note 5) | 10-5, Oyodominami 1-chome, Kita-ku, Osaka-shi, Osaka | Trust beneficial interest | 2,013.84 | 1,810 | 1,511 |
20041 | JMF-Residence Sakuranomiya (Note 5) | 12-8, Nakanocho 5-chome, Miyakojima-ku, Osaka-shi, Osaka | Trust beneficial interest | 2,451.22 | 2,310 | 2,059 |
20042 | JMF-Residence Miyakojima (Note 5) | 22-10, Miyakojimahondori 4-chome, Miyakojima-ku, Osaka-shi, Osaka | Trust beneficial interest | 1,782.09 | 1,630 | 1,477 |
20043 | JMF-Residence Tenjimbashisuji 6-chome (Note 5) | 4-8, Nagaranaka 1-chome, Kita-ku, Osaka-shi, Osaka | Trust beneficial interest | 1,625.80 | 1,690 | 1,536 |
20044 | JMF-Bldg. Osaka Fukushima 02 (Note 5) | 20-1, Fukushima 7-chome, Fukushima-ku, Osaka-shi, Osaka | Trust beneficial interest | 14,763.67 | 16,300 | 15,208 |
20045 | JMF-Residence Ebie (Note 5) | 5-18, Ebie 5-chome, Fukushima-ku, Osaka-shi, Osaka | Trust beneficial interest | 2,215.64 | 2,050 | 1,888 |
30001 | AEON Yagoto | 2-1, Ishizaka, Kojimachi-aza, Showa-ku, Nagoya-shi, Aichi | Trust beneficial interest | 63,810.69 | 3,600 | 2,967 |
30002 | mozo wonder city (Note 6) | 40-1, Futakatacho, Nishi-ku, Nagoya-shi, Aichi, etc. | Trust beneficial interest | 86,392.12 | 68,500 | 47,509 |
30003 | G-Bldg. Nagoya Sakae 01 | 27-24, Sakae 3-chome, Naka-ku, Nagoya-shi, Aichi | Real property | 784.97 | 1,330 | 1,893 |
30004 | Valor Kachigawa (Land with leasehold interest) | 1-1 Onocho 2-chome, Kasugai-shi, Aichi | Trust beneficial interest | 20,509.10 | 3,310 | 3,205 |
30005 | JMF-Residence Meiekiminami (Note 5) | 3-16, Meiekiminami 3-chome, Nakamura-ku, Nagoya-shi, Aichi | Trust beneficial interest | 3,828.20 | 2,420 | 2,315 |
30006 | JMF-Bldg. Nagoya Sakae 01 (Note 5) | 11-31, Sakae 3-chome, Naka-ku, Nagoya-shi, Aichi | Trust beneficial interest | 9,928.81 | 10,900 | 10,230 |
90001 | Nara Family (Note 6) | 4-1, Saidaiji-higashimachi 2-chome, Nara-shi, Nara | Trust beneficial interest | 83,319.91 | 36,800 | 32,301 |
90002 | AEON MALL Sapporo Naebo | 1-1, Higashinaebo 2jo 3-chome, Higashi-ku, Sapporo-shi, Hokkaido | Trust beneficial interest | 74,625.52 | 3,704 | 2,263 |
90003 | AEON Naha Shopping Center | 10-2, Kanagusuku 5-chome, Naha-shi, Okinawa | Trust beneficial interest | 79,090.48 | 11,100 | 9,149 |
90004 | Oyama Yuen Harvest Walk (Note 5) | 1475-52, Aza-kaido-nishi, Oaza-Kizawa, Oyama-shi, Tochigi, etc. | Trust beneficial interest | 60,171.65 | 9,770 | 7,164 |
90005 | AEON MALL Sapporo Hassamu | 1-1, Hassamu 8jo 12-chome, Nishi-ku, Sapporo-shi, Hokkaido | Trust beneficial interest | 102,162.16 | 24,900 | 13,782 |
90006 | MrMax Nagasaki | 26-1, Iwami machi, Nagasaki-shi, Nagasaki, etc. | Trust beneficial interest | 12,115.09 | 3,170 | 2,387 |
90007 | Tecc LIFE SELECT Fukuoka Shime Honten | 2-1, Minamizato 5-chome, Shime-machi, Kasuya-gun, Fukuoka | Trust beneficial interest | (Note 8) | 7,110 | 3,982 |
No. | Name of property | Location | Form of ownership | Leasable area | Appraisal value at end of period | Net book value |
(Note 1) | (Note 2) | (Note 3) | (Note 4) | |||
(m2) | (Millions of yen) | (Millions of yen) | ||||
90008 | Round1 Hiroshima | 3-11, Tatemachi, Naka-ku, Hiroshima-shi, Hiroshima | Trust beneficial interest | 9,890.63 | 4,140 | 2,607 |
90009 | DFS T GALLERIA OKINAWA | 1-1, Omoromachi 4-chome, Naha-shi, Okinawa | Trust beneficial interest | 41,845.28 | 18,700 | 14,125 |
90010 | G-Bldg. Sendai Ichibancho 01 | 5-12, Ichibancho 3-chome, Aoba-ku, Sendai-shi, Miyagi | Real property | 2,387.17 | 4,410 | 4,389 |
90011 | G-Bldg. Naha-shintoshin 01 | 5-33, Omoromachi 2-chome, Naha-shi, Okinawa | Trust beneficial interest | (Note 8) | 6,920 | 5,381 |
90012 | JMF-Bldg. Tenjin Nishi-dori 01 (Note 5) | 8-22, Tenjin 2-chome, Chuo-ku, Fukuoka-shi, Fukuoka | Trust beneficial interest | 2,658.19 | 5,170 | 5,032 |
90013 | G-Bldg. Tenjin Nishi-dori 02 | 12-64, Daimyo 1-chome, Chuo-ku, Fukuoka-shi, Fukuoka | Trust beneficial interest | 1,496.56 | 5,620 | 5,166 |
90014 | JMF-Bldg. Sendai 01 (Note 5) | 10-3 Chuo 4-chome, Aoba-ku, Sendai-shi, Miyagi | Trust beneficial interest | 13,098.71 | 8,180 | 7,137 |
90015 | Dormy Inn Hakata Gion (Note 5) | 1-12 Reisen-machi, Hakata-ku, Fukuoka-shi, Fukuoka | Trust beneficial interest | 5,554.91 | 7,490 | 4,354 |
90016 | JMF-Residence Chihaya (Note 5) | 4-25 Chihaya 5-chome, Higashi-ku, Fukuoka-shi, Fukuoka | Trust beneficial interest | 10,331.46 | 4,230 | 3,612 |
90017 | Karuizawa Commongrounds (Land with leasehold interest) | 1689-2, Aza-Toriiharawaki, Oaza-Nagakura, Karuizawa-machi, Kitasaku-gun, Nagano, etc. | Real property | 11,315.43 | 543 | 519 |
Total | 2,614,446.86 | 1,469,367 | 1,209,675 | |||
Note 1 | JMF uses property number for investment properties. The same applies hereinafter. |
Note 2 | "Location" means the residence indication or the location indicated in the land registry book. |
Note 3 | Regardless the share of co-ownership or quasi-co-ownership, "Leasable area" means the total area of the building or land with leasehold interest of each property leasable as stores, offices, etc. indicated in the lease agreement or the plan of such property and it does not include the leasable area of warehouses and land (flat parking lots). |
Note 4 | "Appraisal value at end of period" shows the value appraised or researched by the real estate appraiser (CBRE K.K., Daiwa Real Estate Appraisal Co., Ltd., Japan Real Estate Institute, Tanizawa Sōgō Appraisal Co., Ltd. and JLL Morii Valuation & Advisory K.K.) in accordance with the methods and standard of assets valuation as stipulated in the Articles of Incorporation of JMF as well as the regulations as stipulated by The Investment Trusts Association, Japan. |
Note 5 | "Leasable area" for a pass-through master leased property are presented on an end-tenant basis. |
Note 6 | "Leasable area" for the property which is leased partially in the form of a pass-through master lease is presented on an end-tenant basis. |
Note 7 | JMF sold 50% quasi-co-ownership interest of the property on September 30, 2025. |
Note 8 | "Leasable area" of the property is not disclosed because the consent from the tenant has not been obtained. |
Note 9 | The appraisal value of the property is as of July 18, 2025. |
Outline of portfolio properties 2
No. | Name of property | For the six months ended February 28, 2025 | For the six months ended August 31, 2025 | ||||||
Number of tenants | Occupancy ratio | Rent and other operating revenues | Ratio of rent revenue to total rent revenues | Number of tenants | Occupancy ratio | Rent and other operating revenues | Ratio of rent revenue to total rent revenues | ||
(Note 1) | (Note 2) | (Note 2) | (Note 1) | (Note 2) | (Note 2) | ||||
(%) | (Millions of yen) | (%) | (%) | (Millions of yen) | (%) | ||||
10001 | Abiko Shopping Plaza | 49 | 99.3 | 626 | 1.5 | 50 | 99.3 | 673 | 1.5 |
10003 | Ito-Yokado Yabashira | 1 | 100.0 | 78 | 0.2 | 1 | 100.0 | 78 | 0.2 |
10004 | JMF-Bldg. Daikanyama 02 | 3 | 100.0 | 40 | 0.1 | 3 | 100.0 | 40 | 0.1 |
10005 | GYRE | 13 | 100.0 | 755 | 1.8 | 13 | 100.0 | 757 | 1.7 |
10006 | Ito-Yokado Tsunashima (Note 3) | - | - | 572 | 1.4 | - | - | 0 | 0.0 |
10007 | Bic Camera Tachikawa | 2 | 100.0 | 628 | 1.5 | 2 | 100.0 | 627 | 1.4 |
10008 | AEON Itabashi Shopping Center | 1 | 100.0 | 719 | 1.7 | 1 | 100.0 | 744 | 1.7 |
10009 | JMF-Bldg. Kita Aoyama 01 | 3 | 100.0 | 23 | 0.1 | 3 | 100.0 | 35 | 0.1 |
10011 | SEIYU Hibarigaoka | 1 | 100.0 | 249 | 0.6 | 1 | 100.0 | 249 | 0.6 |
10012 | JMF-Bldg. Jiyugaoka 01 | 4 | 100.0 | 109 | 0.3 | 4 | 100.0 | 109 | 0.3 |
10013 | Cheers Ginza | 10 | 100.0 | 123 | 0.3 | 10 | 100.0 | 119 | 0.3 |
10014 | Higashi-Totsuka Aurora City | 4 | 99.8 | 1,265 | 3.0 | 5 | 100.0 | 1,269 | 2.9 |
10016 | G-Bldg. Jingumae 06 | 4 | 100.0 | 55 | 0.1 | 4 | 100.0 | 55 | 0.1 |
10017 | G-Bldg. Jingumae 01 | 2 | 100.0 | 82 | 0.2 | 2 | 100.0 | 82 | 0.2 |
10020 | AEON MALL Musashi Murayama | 1 | 100.0 | 916 | 2.2 | 1 | 100.0 | 916 | 2.1 |
10021 | La Porte Aoyama (Note 4) | 24 | 100.0 | 294 | 0.7 | 23 | 96.9 | 295 | 0.7 |
10023 | JMF-Bldg. Jingumae 01 (Note 5) | 8 | 100.0 | 69 | 0.2 | - | - | 64 | 0.1 |
10024 | G-Bldg. Minami-Ikebukuro 01 (Note 4) | 8 | 100.0 | 295 | 0.7 | 8 | 100.0 | 304 | 0.7 |
10025 | Makuhari Plaza | 5 | 100.0 | 213 | 0.5 | 5 | 100.0 | 213 | 0.5 |
10026 | Urban Terrace Jingumae | 2 | 100.0 | 110 | 0.3 | 2 | 100.0 | 108 | 0.2 |
10027 | Round1 Machida | 1 | 100.0 | 90 | 0.2 | 1 | 100.0 | 90 | 0.2 |
10028 | Round1 Stadium Itabashi | 1 | 100.0 | 95 | 0.2 | 1 | 100.0 | 95 | 0.2 |
10029 | Arkangel Daikanyama (Land with leasehold interest) | 1 | 100.0 | (Note 6) | (Note 6) | 1 | 100.0 | (Note 6) | (Note 6) |
10030 | G-Bldg. Omotesando 01 | 1 | 100.0 | 155 | 0.4 | 1 | 100.0 | 196 | 0.4 |
10031 | Round1 Yokohama Station West | 1 | 100.0 | 114 | 0.3 | 1 | 100.0 | 114 | 0.3 |
10032 | G-Bldg. Sangenjaya 01 | 3 | 100.0 | 192 | 0.5 | 3 | 100.0 | 193 | 0.4 |
10035 | Colline Bajikouen | 10 | 84.9 | 113 | 0.3 | 11 | 100.0 | 116 | 0.3 |
10036 | KAWASAKI Le FRONT | 66 | 100.0 | 1,972 | 4.7 | 66 | 100.0 | 2,069 | 4.7 |
10037 | JMF-Bldg. Shibuya 01 | 2 | 100.0 | 101 | 0.2 | 2 | 100.0 | 99 | 0.2 |
10038 | G-Bldg. Omotesando 02 | 6 | 100.0 | 372 | 0.9 | 6 | 100.0 | 393 | 0.9 |
10039 | G-Bldg. Kichijoji 01 | 1 | 100.0 | (Note 6) | (Note 6) | 1 | 100.0 | (Note 6) | (Note 6) |
10040 | CUTE CUBE HARAJUKU | 10 | 100.0 | 190 | 0.5 | 10 | 100.0 | 195 | 0.4 |
10041 | G-Bldg. Ueno 01 | 1 | 100.0 | 76 | 0.2 | 1 | 100.0 | 76 | 0.2 |
No. | Name of property | For the six months ended February 28, 2025 | For the six months ended August 31, 2025 | ||||||
Number of tenants | Occupancy ratio | Rent and other operating revenues | Ratio of rent revenue to total rent revenues | Number of tenants | Occupancy ratio | Rent and other operating revenues | Ratio of rent revenue to total rent revenues | ||
(Note 1) | (Note 2) | (Note 2) | (Note 1) | (Note 2) | (Note 2) | ||||
(%) | (Millions of yen) | (%) | (%) | (Millions of yen) | (%) | ||||
10042 | JMF-Bldg. Takadanobaba 01 | 14 | 95.9 | 167 | 0.4 | 14 | 90.0 | 217 | 0.5 |
10043 | G-Bldg. Akihabara 01 | 1 | 100.0 | (Note 6) | (Note 6) | 1 | 100.0 | (Note 6) | (Note 6) |
10044 | G-Bldg. Akihabara 02 | 1 | 100.0 | (Note 6) | (Note 6) | 1 | 100.0 | (Note 6) | (Note 6) |
10045 | G-Bldg. Kichijoji 02 | 1 | 100.0 | (Note 6) | (Note 6) | 1 | 100.0 | (Note 6) | (Note 6) |
10046 | JMF-Bldg. Ginza Chuo-Dori 01 | 10 | 100.0 | 179 | 0.4 | 10 | 100.0 | 213 | 0.5 |
10047 | MARINE & WALK YOKOHAMA | 26 | 100.0 | 451 | 1.1 | 26 | 100.0 | 461 | 1.1 |
10048 | G-Bldg. Jingumae 07 | 1 | 100.0 | (Note 6) | (Note 6) | 1 | 100.0 | (Note 6) | (Note 6) |
10049 | G-Bldg. Minami Aoyama 03 (Note 4) | 6 | 100.0 | 166 | 0.4 | 6 | 100.0 | 170 | 0.4 |
10050 | JMF-Bldg. Jingumae 02 | 3 | 100.0 | 47 | 0.1 | 3 | 100.0 | 48 | 0.1 |
10051 | Round1 Stadium Kawasaki Daishi | 1 | 100.0 | (Note 6) | (Note 6) | 1 | 100.0 | (Note 6) | (Note 6) |
10052 | m-city Kashiwa | 1 | 100.0 | (Note 6) | (Note 6) | 1 | 100.0 | (Note 6) | (Note 6) |
10053 | JMF-Bldg. Jingumae 03 | 6 | 100.0 | 109 | 0.3 | 6 | 100.0 | 112 | 0.3 |
10054 | Machinoma Omori | 34 | 100.0 | 390 | 0.9 | 34 | 100.0 | 403 | 0.9 |
10055 | JMF-Bldg. Daikanyama 01 | 9 | 100.0 | 101 | 0.2 | 9 | 100.0 | 103 | 0.2 |
10056 | AEON MALL Tsudanuma | 1 | 100.0 | 774 | 1.8 | 1 | 100.0 | 774 | 1.8 |
10057 | JMF-Bldg. Yokohama Bashamichi 01 (Note 4) | 13 | 100.0 | 700 | 1.7 | 13 | 100.0 | 698 | 1.6 |
10058 | JMF-Bldg. Kawasaki 01 (Note 4) | 10 | 79.0 | 487 | 1.2 | 11 | 84.3 | 518 | 1.2 |
10059 | JMF-Bldg. Shibuya 02 (Note 4) | 5 | 100.0 | 366 | 0.9 | 5 | 100.0 | 379 | 0.9 |
10060 | JMF-Bldg. Shibuya 03 (Note 4) | 11 | 100.0 | 321 | 0.8 | 11 | 100.0 | 325 | 0.7 |
10061 | JMF-Bldg. Toyocho 01 (Note 4) | 14 | 100.0 | 331 | 0.8 | 14 | 100.0 | 330 | 0.8 |
10062 | OMO3 Tokyo Akasaka (Note 4) | 2 | 100.0 | (Note 6) | (Note 6) | 2 | 100.0 | (Note 6) | (Note 6) |
10063 | JMF-Bldg. Nihombashi Hamacho 01 (Note 4) | 1 | 100.0 | (Note 6) | (Note 6) | 1 | 100.0 | (Note 6) | (Note 6) |
10064 | JMF-Bldg. Toyocho 02 (Notes 4 and 7) | 20 | 100.0 | 299 | 0.7 | - | - | 249 | 0.6 |
10065 | JMF-Bldg. Sasazuka 01 (Note 4) | 14 | 82.5 | 195 | 0.5 | 15 | 91.1 | 257 | 0.6 |
10066 | JMF-Bldg. Ueno 01 (Note 4) | 7 | 100.0 | (Note 6) | (Note 6) | 7 | 100.0 | (Note 6) | (Note 6) |
10067 | JMF-Bldg. Yokohama 01 (Note 4) | 54 | 100.0 | 400 | 0.9 | 54 | 100.0 | 405 | 0.9 |
10068 | JMF-Bldg. Akasaka 01 (Note 4) | 10 | 100.0 | 108 | 0.3 | 10 | 100.0 | 109 | 0.2 |
10069 | JMF-Bldg. Kanda01 (Note 4) | 8 | 100.0 | 113 | 0.3 | 8 | 100.0 | 113 | 0.3 |
10070 | JMF-Bldg. Edogawabashi 01 (Note 4) | 5 | 100.0 | 104 | 0.2 | 5 | 100.0 | 104 | 0.2 |
10071 | JMF-Bldg. Higashi Nihombashi 01 (Note 4) | 9 | 100.0 | 94 | 0.2 | 9 | 100.0 | 100 | 0.2 |
10072 | JMF-Bldg. Ichigaya 01 (Note 8) | 29 | 99.4 | 415 | 1.0 | 27 | 98.3 | 425 | 1.0 |
10073 | JMF-Bldg. Hiroo 01 (Note 8) | 36 | 98.4 | 191 | 0.5 | 35 | 96.6 | 193 | 0.4 |
10074 | JMF-Bldg. Funabashi 01 | 6 | 88.8 | 140 | 0.3 | 7 | 100.0 | 138 | 0.3 |
10075 | JMF-Bldg. Akasaka 02 (Note 4) | 12 | 100.0 | 780 | 1.8 | 12 | 100.0 | 783 | 1.8 |
No. | Name of property | For the six months ended February 28, 2025 | For the six months ended August 31, 2025 | ||||||
Number of tenants | Occupancy ratio | Rent and other operating revenues | Ratio of rent revenue to total rent revenues | Number of tenants | Occupancy ratio | Rent and other operating revenues | Ratio of rent revenue to total rent revenues | ||
(Note 1) | (Note 2) | (Note 2) | (Note 1) | (Note 2) | (Note 2) | ||||
(%) | (Millions of yen) | (%) | (%) | (Millions of yen) | (%) | ||||
10076 | JMF-Residence Gakugeidaigaku (Note 4) | 40 | 97.6 | 34 | 0.1 | 39 | 95.2 | 34 | 0.1 |
10077 | JMF-Residence Kita-Shinagawa (Note 4) | 61 | 98.7 | 49 | 0.1 | 60 | 97.3 | 49 | 0.1 |
10078 | JMF-Residence Ikebukuro 1-chome (Note 4) | 41 | 93.1 | 41 | 0.1 | 44 | 100.0 | 44 | 0.1 |
10079 | JMF-Bldg. Nakano 01 | 7 | 100.0 | 104 | 0.2 | 7 | 100.0 | 105 | 0.2 |
10080 | JMF-Residence Fujisawa (Note 4) | 72 | 98.6 | 36 | 0.1 | 73 | 100.0 | 39 | 0.1 |
10081 | JMF-Residence Shin-Yokohama (Note 4) | 108 | 98.1 | 83 | 0.2 | 109 | 99.0 | 85 | 0.2 |
10082 | JMF-Residence Akabane Shimo (Note 4) | 58 | 100.0 | 53 | 0.1 | 55 | 95.3 | 55 | 0.1 |
10083 | JMF-Residence Machida (Note 4) | 180 | 99.4 | 114 | 0.3 | 175 | 96.7 | 108 | 0.2 |
10084 | JMF-Residence Setagaya Mishuku (Note 4) | 76 | 96.8 | 69 | 0.2 | 73 | 91.1 | 71 | 0.2 |
10085 | JMF-Residence Shin-itabashi (Note 4) | 34 | 96.4 | 33 | 0.1 | 32 | 90.4 | 32 | 0.1 |
10086 | JMF-Residence Kuramae 2-chome (Note 4) | 60 | 100.0 | 65 | 0.2 | 60 | 100.0 | 67 | 0.2 |
10087 | JMF-Residence Kuramae Torigoe (Note 4) | 45 | 100.0 | 42 | 0.1 | 44 | 96.9 | 45 | 0.1 |
10088 | JMF-Residence Asakusabashi 3-chome (Note 4) | 72 | 98.2 | 74 | 0.2 | 71 | 97.8 | 93 | 0.2 |
10089 | G-Bldg. Jingumae 10 | 1 | 100.0 | (Note 6) | (Note 6) | 1 | 100.0 | (Note 6) | (Note 6) |
10090 | JMF-Bldg. Yokohama Kohoku 01 (Note 4) | 41 | 97.1 | 215 | 0.5 | 41 | 97.1 | 267 | 0.6 |
10091 | unimo chiharadai (Note 4) | 154 | 98.9 | 939 | 2.2 | 156 | 99.7 | 1,418 | 3.2 |
10092 | CROSS MUKOGAOKA (Note 4) | - | - | - | - | 14 | 100.0 | 168 | 0.4 |
20002 | Kyoto Family | 54 | 98.9 | 605 | 1.4 | 53 | 98.8 | 622 | 1.4 |
20003 | Kawaramachi OPA | 1 | 100.0 | 336 | 0.8 | 1 | 100.0 | 336 | 0.8 |
20004 | AEON MALL Tsurumi Ryokuchi (Note 9) | 1 | 100.0 | 650 | 1.5 | 1 | 100.0 | 641 | 1.5 |
20005 | AEON MALL Itami | 1 | 100.0 | 585 | 1.4 | 1 | 100.0 | 587 | 1.3 |
20006 | Ario Otori | 1 | 100.0 | 549 | 1.3 | 1 | 100.0 | 549 | 1.3 |
20007 | AEON MALL Kobe Kita | 1 | 100.0 | 401 | 0.9 | 1 | 100.0 | 410 | 0.9 |
20009 | LIFE Shimodera (Land with leasehold interest) | 1 | 100.0 | 56 | 0.1 | 1 | 100.0 | 56 | 0.1 |
20010 | LIFE Taiheiji (Land with leasehold interest) | 1 | 100.0 | 48 | 0.1 | 1 | 100.0 | 48 | 0.1 |
20011 | G-Bldg. Shinsaibashi 01 | 1 | 100.0 | (Note 6) | (Note 6) | 1 | 100.0 | (Note 6) | (Note 6) |
20012 | Round1 Stadium Sennichimae (Land with leasehold interest) | 1 | 100.0 | 240 | 0.6 | 1 | 100.0 | 240 | 0.5 |
20013 | G-Bldg. Shinsaibashi 02 | 1 | 100.0 | (Note 6) | (Note 6) | 1 | 100.0 | (Note 6) | (Note 6) |
20014 | Izumisano Shofudai (Land with leasehold interest) | 2 | 100.0 | (Note 6) | (Note 6) | 2 | 100.0 | (Note 6) | (Note 6) |
20015 | Round1 Stadium Sakai Chuo Kanjyo | 1 | 100.0 | 82 | 0.2 | 1 | 100.0 | 82 | 0.2 |
20016 | pivo Izumi Chuo | 21 | 100.0 | (Note 6) | (Note 6) | 21 | 100.0 | (Note 6) | (Note 6) |
20017 | KAMISHIN PLAZA | 31 | 97.0 | 323 | 0.8 | 30 | 99.6 | 329 | 0.7 |
20018 | Round1 Kyoto Kawaramachi | 1 | 100.0 | 104 | 0.2 | 1 | 100.0 | 104 | 0.2 |
20019 | G-Bldg. Shinsaibashi 03 | 4 | 100.0 | (Note 6) | (Note 6) | 4 | 100.0 | (Note 6) | (Note 6) |
No. | Name of property | For the six months ended February 28, 2025 | For the six months ended August 31, 2025 | ||||||
Number of tenants | Occupancy ratio | Rent and other operating revenues | Ratio of rent revenue to total rent revenues | Number of tenants | Occupancy ratio | Rent and other operating revenues | Ratio of rent revenue to total rent revenues | ||
(Note 1) | (Note 2) | (Note 2) | (Note 1) | (Note 2) | (Note 2) | ||||
(%) | (Millions of yen) | (%) | (%) | (Millions of yen) | (%) | ||||
20021 | m-city Toyonaka | 1 | 100.0 | (Note 6) | (Note 6) | 1 | 100.0 | (Note 6) | (Note 6) |
20022 | EDION Kyobashi (Land with leasehold interest) | 1 | 100.0 | (Note 6) | (Note 6) | 1 | 100.0 | (Note 6) | (Note 6) |
20023 | JMF-Bldg. Abeno 01 | 10 | 100.0 | 162 | 0.4 | 10 | 100.0 | 164 | 0.4 |
20024 | JMF-Bldg. Umeda 01 | 11 | 92.8 | 229 | 0.5 | 11 | 92.8 | 251 | 0.6 |
20025 | G-Bldg. Shinsaibashi 04 | 5 | 100.0 | 91 | 0.2 | 5 | 100.0 | 89 | 0.2 |
20026 | JMF-Bldg. Kyoto Kawaramachi 01 | 4 | 100.0 | 79 | 0.2 | 4 | 100.0 | 78 | 0.2 |
20027 | JMF-Bldg. Midosuji 01 | 2 | 100.0 | (Note 6) | (Note 6) | 2 | 100.0 | (Note 6) | (Note 6) |
20028 | G-Bldg. Kobe Sannomiya 01 | 5 | 94.2 | (Note 6) | (Note 6) | 5 | 94.2 | (Note 6) | (Note 6) |
20030 | G-Bldg. Midosuji 02 | 1 | 100.0 | (Note 6) | (Note 6) | 1 | 100.0 | (Note 6) | (Note 6) |
20031 | Twin 21 (Note 4) | 115 | 95.6 | 2,233 | 5.3 | 114 | 94.0 | 2,430 | 5.5 |
20032 | JMF-Bldg. Kitahama 01 (Note 4) | 10 | 100.0 | 342 | 0.8 | 10 | 100.0 | 342 | 0.8 |
20033 | JMF-Bldg. Osaka Fukushima 01 (Note 4) | 26 | 100.0 | 310 | 0.7 | 26 | 100.0 | 311 | 0.7 |
20034 | JMF-Bldg. Higobashi 01 (Note 4) | 14 | 100.0 | 142 | 0.3 | 14 | 100.0 | 146 | 0.3 |
20035 | Konami Sports Club Kyobashi (Note 10) | 1 | 100.0 | (Note 6) | (Note 6) | 1 | 100.0 | (Note 6) | (Note 6) |
20036 | JMF-Bldg. Imabashi 01 (Note 4) | 20 | 100.0 | 122 | 0.3 | 20 | 100.0 | 123 | 0.3 |
20037 | JMF-Bldg. Nishi Hommachi 01 (Note 4) | 20 | 100.0 | 102 | 0.2 | 20 | 99.3 | 109 | 0.2 |
20038 | G-Bldg. Shinsaibashi 05 | 1 | 100.0 | (Note 6) | (Note 6) | 1 | 100.0 | (Note 6) | (Note 6) |
20039 | JMF-Residence Osaka Noda (Note 4) | 66 | 94.8 | 38 | 0.1 | 69 | 98.8 | 39 | 0.1 |
20040 | JMF-Residence Osaka Fukushima (Note 4) | 84 | 100.0 | 40 | 0.1 | 83 | 98.8 | 43 | 0.1 |
20041 | JMF-Residence Sakuranomiya (Note 4) | 116 | 97.5 | 53 | 0.1 | 116 | 97.5 | 53 | 0.1 |
20042 | JMF-Residence Miyakojima (Note 4) | 74 | 98.5 | 37 | 0.1 | 73 | 96.9 | 37 | 0.1 |
20043 | JMF-Residence Tenjimbashisuji 6-chome (Note 4) | 58 | 96.3 | 38 | 0.1 | 60 | 100.0 | 40 | 0.1 |
20044 | JMF-Bldg. Osaka Fukushima 02 (Note 4) | 22 | 100.0 | 340 | 0.8 | 22 | 100.0 | 408 | 0.9 |
20045 | JMF-Residence Ebie (Note 4) | - | - | - | - | 98 | 100.0 | 31 | 0.1 |
30001 | AEON Yagoto | 2 | 100.0 | 125 | 0.3 | 2 | 100.0 | 128 | 0.3 |
30002 | mozo wonder city (Note 8) | 197 | 90.3 | 3,381 | 8.0 | 219 | 99.2 | 3,494 | 8.0 |
30003 | G-Bldg. Nagoya Sakae 01 | 3 | 73.6 | 27 | 0.1 | 4 | 100.0 | 27 | 0.1 |
30004 | Valor Kachigawa (Land with leasehold interest) | 1 | 100.0 | (Note 6) | (Note 6) | 1 | 100.0 | (Note 6) | (Note 6) |
30005 | JMF-Residence Meiekiminami (Note 4) | 47 | 97.6 | 56 | 0.1 | 47 | 97.6 | 59 | 0.1 |
30006 | JMF-Bldg. Nagoya Sakae 01 (Note 4) | 27 | 90.0 | 120 | 0.3 | 27 | 90.0 | 260 | 0.6 |
90001 | Nara Family (Note 8) | 107 | 99.6 | 1,808 | 4.3 | 107 | 99.7 | 1,849 | 4.2 |
90002 | AEON MALL Sapporo Naebo (Note 11) | 1 | 100.0 | 293 | 0.7 | 1 | 100.0 | 224 | 0.5 |
90003 | AEON Naha Shopping Center | 1 | 100.0 | 370 | 0.9 | 1 | 100.0 | 380 | 0.9 |
90004 | Oyama Yuen Harvest Walk (Note 4) | 64 | 98.9 | 863 | 2.0 | 64 | 99.0 | 885 | 2.0 |
No. | Name of property | For the six months ended February 28, 2025 | For the six months ended August 31, 2025 | ||||||
Number of tenants | Occupancy ratio | Rent and other operating revenues | Ratio of rent revenue to total rent revenues | Number of tenants | Occupancy ratio | Rent and other operating revenues | Ratio of rent revenue to total rent revenues | ||
(Note 1) | (Note 2) | (Note 2) | (Note 1) | (Note 2) | (Note 2) | ||||
(%) | (Millions of yen) | (%) | (%) | (Millions of yen) | (%) | ||||
90005 | AEON MALL Sapporo Hassamu | 1 | 100.0 | 696 | 1.6 | 1 | 100.0 | 696 | 1.6 |
90006 | MrMax Nagasaki | 2 | 100.0 | (Note 6) | (Note 6) | 2 | 100.0 | (Note 6) | (Note 6) |
90007 | Tecc LIFE SELECT Fukuoka Shime Honten | 1 | 100.0 | (Note 6) | (Note 6) | 1 | 100.0 | (Note 6) | (Note 6) |
90008 | Round1 Hiroshima | 1 | 100.0 | 119 | 0.3 | 1 | 100.0 | 119 | 0.3 |
90009 | DFS T GALLERIA OKINAWA | 1 | 100.0 | 477 | 1.1 | 1 | 100.0 | 477 | 1.1 |
90010 | G-Bldg. Sendai Ichibancho 01 | 1 | 100.0 | 87 | 0.2 | 1 | 100.0 | 76 | 0.2 |
90011 | G-Bldg. Naha-shintoshin 01 | 2 | 100.0 | (Note 6) | (Note 6) | 2 | 100.0 | (Note 6) | (Note 6) |
90012 | JMF-Bldg. Tenjin Nishi-dori 01 (Note 4) | 8 | 88.8 | 119 | 0.3 | 8 | 90.3 | 118 | 0.3 |
90013 | G-Bldg. Tenjin Nishi-dori 02 | 1 | 100.0 | (Note 6) | (Note 6) | 1 | 100.0 | (Note 6) | (Note 6) |
90014 | JMF-Bldg. Sendai 01 (Note 4) | 86 | 97.5 | 329 | 0.8 | 84 | 95.7 | 332 | 0.8 |
90015 | Dormy Inn Hakata Gion (Note 4) | 2 | 100.0 | (Note 6) | (Note 6) | 2 | 100.0 | (Note 6) | (Note 6) |
90016 | JMF-Residence Chihaya (Note 4) | 149 | 99.3 | 116 | 0.3 | 147 | 97.7 | 118 | 0.3 |
90017 | Karuizawa Commongrounds (Land with leasehold interest) | 1 | 100.0 | (Note 6) | (Note 6) | 1 | 100.0 | (Note 6) | (Note 6) |
Total | 3,177 | 98.4 | 42,327 | 100.0 | 3,272 | 99.4 | 43,873 | 100.0 | |
Note 1 | "Number of tenants" is based upon the numbers of the lease agreements of the building or land with leasehold interest of each such property used as stores, offices, etc. |
Note 2 | "Occupancy ratio" (percentage of leased area against the leasable area at the end of accounting period) and "Ratio of rent revenue to total rent revenues" are calculated by rounding to the nearest first decimal place. |
Note 3 | JMF sold 60% quasi-co-ownership interest of the property on February 28, 2025 and 40% on March 3, 2025. |
Note 4 | "Number of tenants" and "Occupancy ratio" for a pass-through master leased property are presented on an end-tenant basis. |
Note 5 | JMF sold the property on July 11, 2025. |
Note 6 | Rent revenue of the property is not disclosed because the consent from the tenant has not been obtained. |
Note 7 | JMF sold the property on August 1, 2025. |
Note 8 | "Number of tenants" and "Occupancy ratio" for the properties which are leased partially in the form of a pass-through master lease are presented on an end-tenant basis. |
Note 9 | JMF sold 25% quasi-co-ownership interest of the property on September 25, 2023 and 50% on August 29, 2025. |
Note 10 | JMF sold 50% quasi-co-ownership interest of the property on September 30, 20025. |
Note 11 | JMF sold 20% quasi-co-ownership interest of the property on August 30, 2024, 20% on February 28, 2025 and 20% on August 29, 2025. |