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)

FFO per unitSee All Periods

Operating Revenues

Operating Income

Ordinary Income

Net Income

Distributions per unit (including distributions in excess of profit)

FFO per unit

(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)
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
Jun. 2014 (14th) 6,576 6,575 - 0 3,640 2,733 2,750


(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 % %
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
Jun. 2014 (14th) 16,617 16,617 0 22,389 2,750 100.0 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(A).
    Payout ratio for the six months ended June 30, 2016 and December 31, 2016 calculated by following formula (B) is 100.0%, respectively.
    (A) Payout ratio = Distribution per unit (excluding distributions in excess of profit) / Net income per unit x 100 (B) Payout ratio = Distribution per unit (including distributions in excess of profit) / Net income per unit x 100 Payout ratio for the six months ended June 30th of 2014 and 2015 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
  • 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
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
Jun. 2014 (14th) 190,840 82,004 43.0 247,698
  • * 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
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
Jun. 2014 (14th) 3,513 -18,454 11,771 6,484

  • * 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.

{literal} {/literal}