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I would like to explain about external growth.
As four and half years have passed since the listing in June 2012, and after the 4th public offering for four consecutive years, our asset size has steadily been expanding. The asset size of the portfolio, consisted of 38 properties worth ¥389.1 billion in aggregate as of January 17, 2017, has increased approximately 2.3-fold from the size as at IPO.
The ratio of retail properties and office properties is almost half and half, striking a balance in the portfolio.
We will continue our efforts to expand the asset size by acquiring properties from third parties and utilizing the sponsor’s support, while focusing on quality.
Furthermore, the name of the category "Activia Account Properties" described in this slide is a renamed asset category formerly called as "Other Properties."
For details, I will provide an explanation later on page 16.
Please turn to the next page.
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