Premier Investment Corporation

TSE code 8956

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Message to Our Unitholders

Message to Our Unitholders

Dear Investor,

On behalf of Premier Investment Corporation (PIC), I would like to express our sincere gratitude for your loyal patronage.

PIC has continued to grow steadily through close coordination with NTT Urban Development Corporation (NTTUD), the main sponsor.

As of October 31, 2016, PIC's owned assets totaled 59 properties comprised of 28 office buildings and 31 residential properties, with the asset size standing at 235.9 billion yen. The occupancy rate of the entire portfolio was 96.8% as of that date.
For the 28th fiscal period ended October 31, 2016, PIC posted operating revenue of 8,423 million yen, up 4.1% period-on-period, and net income of 3,335 million yen, an increase of 2.9% from the previous fiscal period, thanks to such factors as the addition of revenue from the properties acquired in the previous fiscal period.
As for distribution per unit, PIC secured 2,533 yen, surpassing the forecast for the period (2,450 yen) announced in the Financial Report for the Fiscal Period Ended April 30, 2016 dated June 17, 2016.

Furthermore, in December 2016, PIC conducted a property swap transaction with NTTUD, resulting in further reinforcement of coordination with the main sponsor. Specifically, PIC acquired an office building in Osaka City from NTTUD, while simultaneously transferring an office building (land with leasehold interest) it owned in Osaka City to NTTUD.

Going forward, we will continue our endeavors to further expand the asset size while working to enhance the quality of the portfolio as we aim to achieve stable management over the medium to long term. In doing so, we will put forth our utmost efforts to meet the expectations of our unitholders. We appreciate and request your continued support and encouragement of PIC.



Shuro Hoshizawa
Executive Director
Premier Investment Corporation

December 16, 2016

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Premier Investment Corporation
Executive Director
Shuro Hoshizawa

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