Japan Real Estate Investment Corp.

Japan Real Estate Investment Corporation operates under Japan's Act on Investment Trusts and Investment Corporations (ITA). Since its IPO, its total acquisition price has grown from 92.8 billion yen to 1,167.7 billion yen as of March 31, 2025, and its portfolio has expanded from 20 to 77 properties. For the March 2025 period (October 1, 2024 to March 31, 2025), the Japanese economy continued a gradual recovery despite lingering stagnation in capital investment and personal consumption due to inflation. In the office leasing market, demand is growing, the vacancy rate in central Tokyo is gradually declining, and rent levels are rising at an accelerating rate. The Company is pursuing strategic leasing activities to maintain and improve occupancy and achieve sustainable income growth. In the real estate trading market, acquisition appetite among domestic and foreign investors remains firm, but competition for high-quality office buildings is fierce and expected yields are low. Dividend per unit for the March 2025 period was 2,487 yen, up 18 yen from the September 2024 period. The Company was established on May 11, 2001 and incorporated in Japan in 2001.