Japan Metropolitan Fund Investment (8953) Q4 2024 earnings summary

Executive summary

• Operating revenues for the six months ended August 31, 2024, were ¥40,879 million, up from ¥40,836 million in the previous period.

• Net income for the period was ¥15,696 million, slightly down from ¥16,016 million in the prior six months.

• Portfolio occupancy remained high at 99.3%, with 2,920 tenants as of August 31, 2024.

Financial highlights

• Total assets increased to ¥1,251,535 million as of August 31, 2024, from ¥1,248,079 million at February 29, 2024.

• Total operating expenses for the period were ¥23,037 million, up from ¥22,853 million.

• Net cash provided by operating activities was ¥22,000 million for the six months ended August 31, 2024.

• Net cash used in investing activities was ¥22,656 million, reflecting significant property acquisitions.

• Net cash used in financing activities was ¥13,368 million, mainly due to distribution payments and debt repayments.

Outlook and guidance

• Portfolio occupancy is expected to remain robust, supported by stable tenant demand.

• Continued focus on property acquisitions and asset management to drive future growth.