Financial Summary

Financial Highlights

Operating RevenuesSee All Periods

Operating IncomeSee All Periods

Ordinary IncomeSee All Periods

Net IncomeSee All Periods

Distributions per unitSee All Periods

(including distributions in excess of profit)

  • * IIF implemented a two-for-one unit split on January 1, 2015. but above figures are not adjusted.

FFO per unitSee All Periods

Operating Revenues

Operating Income

Ordinary Income

Net Income

Distributions per unit (including distributions in excess of profit)

  • * IIF implemented a two-for-one unit split on January 1, 2015. but above figures are not adjusted.

FFO per unit

  • * IIF implemented a two-for-one unit split on January 1, 2015. but above figures are not adjusted.
(1) Operating results

Operating revenues Operating
income
Ordinary
income
Net
income
Breakdown
Total
(Millions
of yen)
Rent
revenue
- real
estate
Gain on
sales of
property
Dividend income
from
investment
in Tokumei
Kumiai
(Millions of yen)
Jul. 2017 (20th) 10,054 10,054 - - 5,787 4,634 4,633
Dec. 2016 (19th) 8,069 8,022 46 - 4,416 3,443 3,442
Jun. 2016 (18th) 7,886 7,886 - - 4,338 3,382 3,381
Dec. 2015 (17th) 7,788 7,788 - - 4,277 3,288 3,287
Jun. 2015 (16th) 7,357 7,356 - 0 4,036 3,102 3,101
Dec. 2014 (15th) 6,775 6,775 - 0 3,704 2,800 2,799


(2) Distributions

Distributions per unit *1 FFO
per unit *1,2
Total
distributions
(including distributions
in excess of profit)
Payout ratio *3 Ratio of
distributions
to net assets *4
including distributions
in excess of profit
excluding distributions
in excess of profit
in excess of profit
yen yen yen yen Millions of yen % %
Jul. 2017 (20th) 11,674 11,667 7 15,300 4,636 100.0 4.2
Dec. 2016 (19th) 9,768 9,765 3 12,839 3,443 100.0 3.7
Jun. 2016 (18th) 9,590 8,440 1,150 12,663 3,381 88.0 3.2
Dec. 2015 (17th) 9,324 9,324 0 12,370 3,287 100.0 3.5
Jun. 2015 (16th) 8,796 8,796 0 11,765 3,101 100.0 3.4
Dec. 2014 (15th) 16,911 16,911 0 22,929 2,799 100.0 3.4
  • IIF implemented a two-for-one unit split on January 1, 2015.
  • Figures are calculated using following formula.
    Funds from operation (FFO) per unit  = 
    (net income + loss on sales of real estate properties - gain on sales of real estate properties + depreciation + other property related depreciation)
    number of units issued and outstanding
  • Payout ratio in the above table is calculated by following formula.
    Payout ratio = Distribution per unit (excluding distributions in excess of profit) / Net income per unit x 100 Payout ratio for the six months ended June 30, 2015 (16th period) and July 31, 2017 (20th period) is calculated by using following formula as new investment units were issued during these periods.
    Payout ratio = total of distributions (excluding distributions in excess of profit) /net income x 100 Payout ratio for the six months ended June 30, 2016 and December 3 1, 2016 calculated by following formula is 100.0%, respectively. Payout ratio = Distribution per unit (including distributions in excess of profit) / Net income per unit x 100
  • Ratio of distributions to net assets in the above table is calculated by following formula (A).
    Ratio of distributions to net assets for the six months ended June 30, 2016 and December 31, 2016 calculated by following formula (B) is 3.6% and 3.7%, respectively.
    (A) Ratio of distributions to net assets = Distribution per unit (excluding distributions in excess of profit) / { (Net assets at beginning of period+Net assets at end of period) / 2} x 100 (B) Ratio of distributions to net assets = Distribution per unit (including distributions in excess of profit) / { (Net assets at beginning of period+Net assets at end of period) / 2} x 100
  • Distribution per unit in excess of profit consists only of allowance for temporary difference adjustment.


(3) Financial position

Total assets Net assets Ratio of net assets
to total assets
Net asset value
per unit
Millions of yen Millions of yen % yen
Jul. 2017 (20th) 261,999 117,008 44.7 294,608
Dec. 2016 (19th) 224,749 93,959 41.8 266,503
Jun. 2016 (18th) 216,639 93,799 43.3 266,048
Dec. 2015 (17th) 215,694 93,817 43.5 266,100
Jun. 2015 (16th) 214,877 93,677 43.6 265,703
Dec. 2014 (15th) 190,852 82,001 43.0 247,690
  • * Effective as of January 1, 2015, IIF made a two-for-one split of our units. Net asset value per unit shows pro forma per unit information which has been adjusted to reflect the Unit Split as if it had been effective on January 1, 2014.


(4) Cash flows

Net cash provided by (used in) Cash and cash
equivalents at end
of period
Operating
activities
Investing
activities
Financing
activities
Millions of yen Millions of yen Millions of yen Millions of yen
Jul. 2017 (20th) 5,727 -34,861 31,200 14,811
Dec. 2016 (19th) 13,565 -13,020 5,293 12,745
Jun. 2016 (18th) 4,287 -6,081 -1,688 6,906
Dec. 2015 (17th) 5,288 -1,195 -3,102 10,389
Jun. 2015 (16th) 3,455 -22,190 20,159 9,398
Dec. 2014 (15th) 4,620 -375 -2,755 7,974

  • * Consumption taxes are not included.
  • * Figures less than unit indicated in the above table are rounded down for amounts and rounded for ratio unless otherwise indicated.

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