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On the slide 5, I would like to present how we respond to COVID-19 pandemic and the growth cycle that we have drawn.
During the brief of the financial results of the previous period, I told you that we would work to achieve stabilized DPU of ￥10,000 through four action plans.
And as I mentioned earlier, we are still on the track of the growth strategy obtaining a certain result contributing to enhancement of our unitholder value.
Though as COVID-19 infection spread has become nationwide from February, with a state of emergency declared in April, and measures to prevent infection spread such as stay-at-home order are prioritized, it is having a significant impact on tenant businesses. As an investment corporation which holds the beneficiary interests in real estate properties serving people places for societal and economical activities, we consider that the most important step to take in light of continuous enhancement of our unitholder value is to fulfill our social responsibility. Therefore, we offer a relief to tenants such as fixed-rent reduction.
We assume that after this crisis, tenant businesses will show a recovery starting from the center of consumer spending such as central city at present seriously affected by stay-at-home order. So, we, who have a strong competitivity of assets in terms of location and quality, will work to support tenant businesses as an immediate concern in order to strengthen confidence with them and maintain stabilized occupancy. And we believe that will bring us back early to the path to growth.
We identify three periods in a row from the period ended May 2020 to the period ending May 2021 “emergency”, and we will work to fulfill our social responsibility, which would be important from the point of view of sustainability also, commencing with sincere approach to our tenants.
Please turn to the next slide.
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