To Our Valued Investors,

Thank you for your continued support.

Since its stock was first listed in 2005, the Investment Corporation has been investing in and operating medium-sized offices and single and compact residential properties primarily in the 23 wards of Tokyo.

Since the change of sponsor in 2009, the Investment Corporation has been pursuing the interests of investors and steadily grown its business with Heiwa Real Estate Group as its sponsor. Since 2020, the COVID-19 pandemic has been adding to the uncertainty in the real estate market. Amid these conditions, the Investment Corporation announced the Next Vision (asset size of 300 billion yen, distribution of 3,300 yen, AA- rating, and 100% electricity introduction rate derived from renewable energy), its new medium- to long-term targets, in July 2021. Because of the subsequent early achievement of the targets excluding the asset size of 300 billion yen, the Investment Corporation announced NEXT VISION II (asset size of 300 billion yen, distribution of 3,800 yen, annual rental income of +1%, 10% ROI, AA rating, 90% GHG reduction by 2030, 100% electricity introduction rate derived from renewable energy) in January 2024 as new medium-term targets. In NEXT VISION II, the Investment Corporation will invest significant funds in value-enhancing construction to accelerate internal growth, in addition to its property replacement strategy from previous years. Aiming for annual rental income of 1% and 10% ROI, we will build a portfolio that can withstand cost increases attributable to inflation and the impact on interest costs due to policy changes by the Bank of Japan. In addition, we will aim for distribution of 3,800 yen by returning cash flows obtained through investments in growth to our unitholders in a sustainable manner. Public interest in ESG has been growing rapidly in recent years. Responses to issues surrounding the environment, society, and corporate governance are important and significantly affect all of the management and business of the Investment Corporation. It recognizes that efforts to build a sustainable society contribute to the sustainable growth of the Investment Corporation. The Investment Corporation establishes ESG targets and strives to achieve them as one of its growth strategies.

The Investment Corporation aims to contribute to the interests of its investors and all other stakeholders while leveraging the sponsorship of the Heiwa Real Estate Group for both external and internal growth.
We earnestly ask for your continued support of our business.