Premier Investment Corporation

TSE code 8956

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Message to Our Unitholders

Dear investors,

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

As of June 23, 2018, I, Tatsuya Takahashi, assumed the office of Executive Director of PIC, concurrently with the assignment of Director of Premier REIT Advisors Co., Ltd. (PRA), the asset management company of PIC, which I have held since July 2016. Taking this opportunity, I would like to deliver an address to unitholders.

PIC has continued to grow steadily through close collaboration with NTT Urban Development Corporation (NTTUD), the main sponsor. Furthermore, in the 31st fiscal period ended April 2018, PIC worked on transactions with sources other than our sponsors, selling two office buildings and acquiring two residential properties, in an effort to improve the content of the portfolio.

These transactions brought PIC’s owned assets as of April 30, 2018 to 60 properties in total, comprising 27 office buildings and 33 residential properties and an asset size standing at 246.4 billion yen. The occupancy rate of the entire portfolio was 96.9% as of that date.

For the 31st fiscal period, PIC posted operating revenues of 9,154 million yen, an increase of 5.9% from the previous fiscal period, and net income of 3,679 million yen, a period-on-period increase of 10.1%.

As for distribution per unit, PIC secured 2,687 yen which surpassed the forecast for the period (2,620 yen) announced in the Financial Report for the Fiscal Period Ended October 31, 2017 dated December 18, 2017.

Going forward, we will continue our endeavors to further expand the asset size while working to enhance the quality of the portfolio and 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.

June 23, 2018

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Premier Investment Corporation
Executive Director
Tatsuya Takahashi