Japan Metropolitan Fund Investment (8953) Investor presentation summary

Recent acquisitions and growth strategies

• Announced acquisitions include JMF-Bldg. Shin-Yokohama 01, m-city Toda-Koen, and JMF-Residence Osaka Awaji.

• Growth scenarios focus on rent gap reduction, tenant replacement, and lease renewals to drive NOI growth.

• JMF-Bldg. Shin-Yokohama 01 targets over 10% rent gap reduction while maintaining occupancy.

• m-city Toda-Koen aims for stable earnings and further rent increases through retail sales growth.

• JMF-Residence Osaka Awaji achieved a 17% NOI improvement at acquisition, with further upside from market rent increases.

Financial performance and asset valuation

• Recent acquisitions show unrealized gain ratios of 15% (Shin-Yokohama), 19% (Toda-Koen), and 23% (Osaka Awaji).

• NOI yields for new assets range from 4.1% to 5.5%, reflecting operational assumptions and rent increases.

• Acquisition prices are below appraised values, indicating potential for value appreciation.

Investment approach and risk management

• Pursues agile acquisitions across diversified asset types to capture growth potential.

• Emphasizes disciplined investment and property-specific growth opportunities.

• Notes risks related to market fluctuations, economic conditions, and real estate environment.