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Next, I would like to mention other topics.
Table 1. at the top left shows how to build relationships with office building tenants. As I mentioned earlier in the case of A-PLACE Ebisu Minami, we correctly understands tenants’ needs for moving within the relevant property or space expansion based on relationships with tenants built through PM, and utilize such understanding to execute lease agreements earlier and generate rent revenues. Thanks to these characteristics, our leasing activities get good results in a short period of time: the average period from move-out to delivery to a new tenant in office properties for the past two years was 2.3 months, and the leasing period of moving within the relevant property or space expansion was further shorter by 1 month, lasting only 1.6 months on average.
Table 2. at the bottom left shows the improvement in profit/loss status at retail properties. We are making efforts to improve the profit/loss balance even at the stably-operated retail properties, through rent upward revision at lease renewals, cost reduction by switching an electricity provider to a power producer and supplier (PPS).
During the 10th period, we revised rents upwardly concerning the contracts with nine tenants of three properties in total, while the power contract of six properties was replaced by that with a new electricity provider. These initiatives have made contributions to our internal growth.
Pictures 3. at the top right introduces a part of our measures to improve tenant satisfaction. We continue to engage in works to improve the value of properties, with an aim to raise the satisfaction level of tenants and visitors, by renovating elevator halls, replacing air-conditioning units and setting up fitting boards, by reference to tenant questionnaires, etc.
Table 4. at the bottom right shows the status of the review of our office building management systems. We are striving to improve the management quality and reduce costs at office properties in the portfolio, through appropriate changes in PM/BM companies.
Please turn to the next page.
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