|
|
 |
|
|
|
|
|
Next, we come to the detail of relief requests and negotiation status with tenants.
147 requests accounting for approximately 80% are concerned about temporary reduction of rent following temporary closure of their businesses and significant decline in sales.
We are in negotiation with respective tenant, and in the case that we accept temporary reduction in order to support their businesses, we propose them instead other requirements which will contribute to enhancement of our unitholder value.
Those are, for example, rental increase after a certain period passed, agreement on sales-linked rent, or arrangement easing to occur them, and extension of period during which tenancy cancellation is prohibited.
We are also in negotiation with some tenants to switch to fixed-term leases at future contract renewal.
Approximately 50% of negotiation has been concluded, though as there are some cases that we have not accepted rent reduction, we continue to work to reach agreement with remaining tenants, with expectation to conclude before the end of FP18 ending November 2020, keeping impact as minimized as possible.
On the lower right, you can see the relief requests coming from office tenants. We have received request by around 10% of them, and we deem its impact at present is not material.
Recently there was a few cases that tenants who had precedingly increased their leased area requested a partial cancellation, though we deem it another opportunity made to pursue rental increase at tenant replacement.
Please turn to the next slide.
|
|
|
