Portfolio Composition Policy

HOME >
Overview >
Portfolio Composition Policy

As of December 31, 2005, the most recent data available, there were 236 industrial zones in Japan, of which 76 generated more than 1 trillion yen in shipments of manufactured products. The distribution of these 76 zones can be seen in the following map:

Target Portfolio

We have set the following guidelines for our target portfolio:

Asset Type
(based on appraised value)

Logistics,
manufacturing and
research and
development facilities

50 - 80%

Infrastructure facilities

20 - 50%

Location
(based on appraised value)

Urban and suburban
properties and
industrial-area
properties

80% or more

Other properties

20% or less

Lease Term
(based on rental revenue)

Less than 2 years	0 - 20%
2 to 10 years	20 - 40%
10 years or more	40 - 80%

We also intend to have at least 80% of our portfolio (based on appraised value) consist of properties that are in operation.

While we intend to satisfy the foregoing target percentages, there may be instances, particularly after property acquisitions or dispositions, when we do not comply with these target percentages.