Fukuoka REIT Corporation

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Dividends

01. Dividends

42nd Fiscal Period (March 1, 2025 - August 31, 2025) Actual
Dividend per unit 4,203 yen

Only unitholders on the register as of the end of August 2025 are eligible to receive the dividend for the 42nd fiscal period. The final trading day with rights at the Tokyo Stock Exchange and Fukuoka Stock Exchange is August 27, 2025.

43rd Fiscal Period (September 1, 2025 -February 28, 2026) Forecast
Dividend per unit 4,000 yen
44th Fiscal Period (March 1, 2026 -August 31, 2026) Forecast
Dividend per unit 4,000 yen

The figures above are the dividend forecasts and results of Fukuoka REIT Corporation. The dividend forecasts are calculated under the definite presumption. The actual dividend could be changed under the variation of economic condition. In addition, these forecasts are not guaranteed the price of dividend.

Dividend track record

(yen)
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02. Financial Highlights

(mm yen)
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  38th 39th 40th 41st 42nd
Operating revenues 9,284 9,326 9,652 10,400 10,792
Leasing NOI (Note 1) 5,152 5,531 5,800 5,770 6,145
Depreciation and amortization expenses 1,531 1,609 1,611 1,595 1,686
Operating income 3,372 3,462 3,664 4,408 4,526
Ordinary income 2,988 3,031 3,225 3,967 4,056
Profit 2,987 3,030 3,223 3,966 4,055
Dividend per unit (yen) 3,753 3,807 3,850 4,096 4,203
Dividend yield (at period-end) (％) (Note 2) 4.6 4.6 5.1 5.7 4.5
Total number of investment units outstanding (at period-end)(Note 3) 796,000 796,000 796,000 872,000 868,820
Total assets (at period-end) 203,868 214,390 215,083 226,966 226,809
Net assets (at period-end) 101,926 101,969 102,161 113,389 113,373
Net assets per unit (at period-end) (yen) 128,048 128,102 128,344 130,034 130,491
Market net assets value per unit (Note 4) 185,197 189,440 194,842 194,747 195,977
Ratio of interest-bearing debt (%) 42.4 44.9 44.8 42.5 42.5
FFO per unit (yen) (Note 5) 5,133 5,529 5,828 5,242 5,601
Days in fiscal period(days) 184 182 184 181 184
Number of investment properties (at period-end) 35 35 35 35 37
Number of tenants (at period-end) (Note 6) 1,018 1,031 1,043 1,047 1,095
Total leasable floor space (m2)(Note 7) 580,272.77 590,409.24 590,145.62 582,606.85 622,652.88
Occupancy rate (at period-end) (%) 99.1 98.8 98.9 99.2 99.6
  • "Leasing NOI" is calculated using "Leasing business revenues - Expenses related to leasing business + Depreciation and amortization expenses".
  • (Dividend / Days in fiscal period × 365) / Unit price (at end of each fiscal period)
  • The number of investment units for the fiscal period ending August 31, 2025 is 868,820 units. Additionally, the cancellation of the investment units acquired during the fiscal period ending August 31, 2025 (3,180 units), was completed as of July 31, 2025.
  • Market net asset value per unit= {Total net assets + Unrealized gains - Total amount of dividends} / Total number of investment units outstanding
  • The FFO per unit is calculated by the following method.
    FFO per unit = (Profit + Loss on sale of real estate-Gain on sale of real estate + Depreciation) / Total number of investment units outstanding
  • "Number of tenants" is based on the total number of sections stipulated in the tenancy agreements for retail and office buildings among relevant properties. For the number of tenants in pass-through master leasing properties, the number of sections stipulated in the tenancy agreements with end tenants is shown.
  • "Total leasable floor space" indicates the figure for properties owned at end of period.

03. LTV track record

(%)
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  38th 39th 40th 41st 42nd
Total debt （mm yen） 86,450 96,350 96,350 96,350 96,350
Total assets （mm yen） 203,868 214,390 215,083 226,966 226,809
Period-end appraisal value（mm yen） 239,392 255,674 259,054 260,974 275,745
Period-end book value（mm yen） 190,913 203,818 203,056 200,971 215,198
Unrealized gain （mm yen） 48,478 51,855 55,998 60,002 60,547
LTV（％） 42.4 44.9 44.8 42.5 42.5

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