Reported Earnings • Jun 03
First half 2026 earnings released: EPS: JP¥2,599 (vs JP¥3,174 in 1H 2025) First half 2026 results: EPS: JP¥2,599 (down from JP¥3,174 in 1H 2025). Revenue: JP¥8.15b (down 11% from 1H 2025). Net income: JP¥3.86b (down 20% from 1H 2025). Profit margin: 47% (down from 53% in 1H 2025). Over the last 3 years on average, earnings per share has increased by 8% per year but the company’s share price has fallen by 6% per year, which means it is significantly lagging earnings. Declared Dividend • May 23
First half dividend of JP¥3,112 announced Shareholders will receive a dividend of JP¥3,112. Ex-date: 28th August 2026 Payment date: 24th November 2026 Dividend yield will be 5.0%, which is higher than the industry average of 4.4%. Announcement • Apr 17
Mitsubishi Estate Logistics REIT Investment Corporation announces Semi-Annual dividend, payable on November 24, 2026 Mitsubishi Estate Logistics REIT Investment Corporation announced Semi-Annual dividend of JPY 2829.0000 per share payable on November 24, 2026, ex-date on August 28, 2026 and record date on August 31, 2026. Reported Earnings • Apr 17
First half 2026 earnings released: EPS: JP¥2,599 (vs JP¥3,174 in 1H 2025) First half 2026 results: EPS: JP¥2,599 (down from JP¥3,174 in 1H 2025). Revenue: JP¥8.15b (down 11% from 1H 2025). Net income: JP¥3.86b (down 20% from 1H 2025). Profit margin: 47% (down from 53% in 1H 2025). Over the last 3 years on average, earnings per share has increased by 8% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings. Upcoming Dividend • Feb 19
Upcoming dividend of JP¥2,832 per share Eligible shareholders must have bought the stock before 26 February 2026. Payment date: 25 May 2026. Trailing yield: 4.3%. Within top quartile of Japanese dividend payers (3.4%). In line with average of industry peers (4.6%). Buy Or Sell Opportunity • Jan 29
Now 21% overvalued after recent price rise Over the last 90 days, the stock has risen 9.2% to JP¥134,800. The fair value is estimated to be JP¥111,729, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 14% over the last 3 years. Earnings per share has grown by 13%. Buy Or Sell Opportunity • Jan 06
Now 21% overvalued after recent price rise Over the last 90 days, the stock has risen 11% to JP¥134,800. The fair value is estimated to be JP¥111,575, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 14% over the last 3 years. Earnings per share has grown by 13%. Declared Dividend • Dec 12
Final dividend of JP¥2,832 announced Shareholders will receive a dividend of JP¥2,832. Ex-date: 26th February 2026 Payment date: 25th May 2026 Dividend yield will be 4.4%, which is about the same as the industry average. Announcement • Dec 11
Mitsubishi Estate Logistics REIT Investment Corporation announces Semi-Annual dividend, payable on May 25, 2026 Mitsubishi Estate Logistics REIT Investment Corporation announced Semi-Annual dividend of JPY 2547.0000 per share payable on May 25, 2026, ex-date on February 26, 2026 and record date on February 28, 2026. Reported Earnings • Nov 30
Full year 2025 earnings released: EPS: JP¥5,715 (vs JP¥5,662 in FY 2024) Full year 2025 results: EPS: JP¥5,715 (up from JP¥5,662 in FY 2024). Revenue: JP¥17.1b (up 1.4% from FY 2024). Net income: JP¥8.60b (flat on FY 2024). Profit margin: 50% (in line with FY 2024). Over the last 3 years on average, earnings per share has increased by 13% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings. Announcement • Nov 20
Mitsubishi Estate Logistics REIT Investment Corporation to Report Fiscal Year 2025 Results on Oct 16, 2025 Mitsubishi Estate Logistics REIT Investment Corporation announced that they will report fiscal year 2025 results on Oct 16, 2025 Reported Earnings • Oct 17
Full year 2025 earnings released: EPS: JP¥5,715 (vs JP¥5,662 in FY 2024) Full year 2025 results: EPS: JP¥5,715 (up from JP¥5,662 in FY 2024). Revenue: JP¥17.1b (up 1.4% from FY 2024). Net income: JP¥8.60b (flat on FY 2024). Profit margin: 50% (in line with FY 2024). Over the last 3 years on average, earnings per share has increased by 13% per year but the company’s share price has fallen by 3% per year, which means it is significantly lagging earnings. Announcement • Aug 27
Mitsubishi Estate Logistics REIT Investment Corporation to Report Fiscal Year 2025 Results on Oct 16, 2025 Mitsubishi Estate Logistics REIT Investment Corporation announced that they will report fiscal year 2025 results on Oct 16, 2025 Upcoming Dividend • Aug 21
Upcoming dividend of JP¥2,764 per share Eligible shareholders must have bought the stock before 28 August 2025. Payment date: 21 November 2025. Trailing yield: 4.5%. Within top quartile of Japanese dividend payers (3.7%). In line with average of industry peers (4.7%). Reported Earnings • Jun 04
Full year 2025 earnings released: EPS: JP¥19,039 (vs JP¥4,923 in FY 2024) Full year 2025 results: EPS: JP¥19,039 (up from JP¥4,923 in FY 2024). Revenue: JP¥18.2b (up 18% from FY 2024). Net income: JP¥9.59b (up 29% from FY 2024). Profit margin: 53% (up from 48% in FY 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 40% per year but the company’s share price has fallen by 9% per year, which means it is significantly lagging earnings. Declared Dividend • May 24
First half dividend of JP¥2,764 announced Shareholders will receive a dividend of JP¥2,764. Ex-date: 28th August 2025 Payment date: 21st November 2025 Dividend yield will be 11%, which is higher than the industry average of 4.4%. New Risk • Apr 22
New major risk - Financial position The company's debt is not well covered by operating cash flow. Operating cash flow to total debt ratio: 18% This is considered a major risk. If the company's operating cash flows are too small relative to the size of their debt, it increases their balance sheet risk. The company has less cash from operations to cover its expenses from servicing large debt and it increases the risk of liquidity issues. It also extends the time it would take for the company to pay back the debt in full, meaning it may not be able to easily pay it all off in a distress scenario. This is currently the only risk that has been identified for the company. Announcement • Apr 18
Mitsubishi Estate Logistics REIT Investment Corporation announces Semi-Annual dividend, payable on November 21, 2025 Mitsubishi Estate Logistics REIT Investment Corporation announced Semi-Annual dividend of JPY 2487.0000 per share payable on November 21, 2025, ex-date on August 28, 2025 and record date on August 31, 2025. Reported Earnings • Apr 18
First half 2025 earnings released: EPS: JP¥9,520 (vs JP¥2,462 in 1H 2024) First half 2025 results: EPS: JP¥9,520 (up from JP¥2,462 in 1H 2024). Revenue: JP¥9.11b (up 18% from 1H 2024). Net income: JP¥4.79b (up 29% from 1H 2024). Profit margin: 53% (up from 48% in 1H 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 28% per year but the company’s share price has fallen by 9% per year, which means it is significantly lagging earnings. Announcement • Apr 17
Mitsubishi Estate Logistics REIT Investment Corporation (TSE:3481) announces an Equity Buyback for 30,000 shares, representing 1.99% for ¥3,000 million. Mitsubishi Estate Logistics REIT Investment Corporation (TSE:3481) announces a share repurchase program. Under the program, the company will repurchase up to 30,000 units, representing 1.99% of its issued share capital (excluding treasury stock) for ¥3,000 million. The purpose of the program is to increase unitholder value through various measures including asset acquisitions, asset replacements and rent growth. The repurchased units will be cancelled. The program will be valid till July 31, 2025. As of March 31, 2025, the company had 1,510,455 units in issue and 0 units in treasury. Announcement • Mar 14
Mitsubishi Estate Logistics Reit Investment Corporation Announces Board Changes Mitsubishi Estate Logistics REIT Investment Corporation (MEL) announced on March 14, 2025 that it received from Ken Takanashi, its Executive Director, a notification of resignation as of March 31, 2025. Accordingly, Kazuyuki Takeda, the current Alternate Executive Director, will be appointed as the new Executive Director on April 1, 2025. Moreover, Kazuyuki Takeda, the new Executive Director, is Executive Officer, General Manager of Human Resources and General Affairs Department, Mitsubishi Jisho Investment Advisors Inc., which is the asset management company of MEL. The brief career profile of the newly appointed Executive Director are as follows: In April 1991 Joined The Sakura Bank, Limited (current: Sumitomo Mitsui Banking Corporation). In October 1995, Seconded to Sakura Investment Management (current: Sumitomo Mitsui DS Asset Management Company, Limited). In August 2003, Return to Sumitomo Mitsui Banking Corporation. In July 2004, Joined Mitsubishi Jisho Investment Advisors Inc. In October 2006, Deputy General Manager of Asset Management Department April 2009 Deputy General Manager of Fund Management Department In April 2011, Deputy General Manager of Fund Management Department and Asset Management Department. In April 2012, General Manager of Compliance Department and Internal Audit Department. In April 2014, Executive Director of Nippon Open Ended Real Estate Investment Corporation. In April 2017, General Manager of Private Fund Management Department, Mitsubishi Jisho Investment Advisors Inc. In April 2019, General manager of Human Resources and General Affairs Department. In April 2022, Executive Officer, General manager of Corporate Management Department and Human Resources and General Affairs Department. In September 2022, Executive Officer, General manager of Fund Planning Department. In April 2023, Executive Officer, General manager of Human Resources and General Affairs Department (incumbent). In April 2025, Executive Officer, Mitsubishi Estate Logistics REIT Investment Corporation (to be appointed). New Risk • Feb 26
New minor risk - Dividend sustainability The dividend is not well covered by cash flows. Cash payout ratio: 292% Dividend yield: 15% This is considered a minor risk. Dividends are ultimately paid out of the company's available cash reserves. Companies that pay out too much of their cash flow are at risk of having to reduce or cut their dividend in future. If cash flow growth slows or cash flows fall, then there may not be enough cash reserves to maintain the same dividend. Or in extreme cases, companies may opt to take on debt to maintain the dividend. This risk is mitigated by the fact the dividend is covered by earnings, however, cash flows are generally more important. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Major Risk Debt is not well covered by operating cash flow (19% operating cash flow to total debt). Minor Risk Dividend is not well covered by cash flows (292% cash payout ratio). Upcoming Dividend • Feb 20
Upcoming dividend of JP¥9,441 per share Eligible shareholders must have bought the stock before 27 February 2025. Payment date: 23 May 2025. Trailing yield: 5.0%. Within top quartile of Japanese dividend payers (3.8%). In line with average of industry peers (5.0%). Announcement • Jan 22
Mitsubishi Estate Logistics REIT Investment Corporation Provides Dividend Guidance for the Period Ending August 31, 2025 Mitsubishi Estate Logistics REIT Investment Corporation provided dividend guidance for the period ending August 31, 2025. For the period, the company expects Distribution per unit (including surplus cash distributions("SCD")) JPY 2,740 compared to previous forecast JPY 8,219. Distribution per unit of JPY 2,466 compared to previous forecast of JPY 7,398. SCD per unit is JPY 274 compared to previous forecast JPY 821. Considering the introduction of the new Nippon Individual Savings Account ("New NISA") starting from January 2024, the company will implement the Split. This initiative is designed to lower the amount per investment unit, thereby fostering a more accessible investment environment for investors, broadening investor base, and enhancing the liquidity of our investment units. Method of Split: As of February 28, 2025 as the record date, each of the investment unit owned by the unitholders who are registered or recorded in the latest register of unitholders will be divided on a three-for-one basis. Record date: February 28, 2025 (Note). Effective date: March 1, 2025. (Note) The final trading day with rights on Tokyo Stock Exchange is scheduled for February 26, 2025. In connection with the Split, the forecast distributions per unit for the fiscal period ending August 31, 2025, announced in the Financial Results will be revised in proportion to the ratio of the unit split. The revision of the forecast distributions per unit is due to the increase in the total number of investment units issued and outstanding as a result of the Split, there have been no change to the forecasted investment situation or the actual forecast. In addition, the forecast distributions per unit for the fiscal period ending February 28, 2025 (September 1, 2024, to February 28, 2025), which was simultaneously announced in the Financial Results, remains unchanged due to the Split being effective on March 1, 2025. Declared Dividend • Dec 28
Final dividend of JP¥9,441 announced Shareholders will receive a dividend of JP¥9,441. Ex-date: 27th February 2025 Payment date: 23rd May 2025 Dividend yield will be 5.4%, which is higher than the industry average of 4.4%. Reported Earnings • Oct 20
Full year 2024 earnings released: EPS: JP¥16,989 (vs JP¥13,927 in FY 2023) Full year 2024 results: EPS: JP¥16,989 (up from JP¥13,927 in FY 2023). Revenue: JP¥16.9b (up 13% from FY 2023). Net income: JP¥8.55b (up 22% from FY 2023). Profit margin: 51% (up from 47% in FY 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 10% per year but the company’s share price has fallen by 9% per year, which means it is significantly lagging earnings. Announcement • Oct 19
Mitsubishi Estate Logistics REIT Investment Corporation Announces Dividend for the Fiscal Period Ended August 31, 2024, Payable on November 21, 2024 Mitsubishi Estate Logistics REIT Investment Corporation announced Distributions per unit (excluding surplus cash distributions) of JPY 9,602 or Distributions per unit (including SCD) JPY 9,602 for the Fiscal Period Ended August 31, 2024. Scheduled Date of Commencement of Distributions Payments: November 21, 2024. Announcement • Oct 17
Mitsubishi Estate Logistics REIT Investment Corporation (TSE:3481) acquired MJ Logipark Aisai 1 for ¥2.0 billion. Mitsubishi Estate Logistics REIT Investment Corporation (TSE:3481) acquired MJ Logipark Aisai 1 for ¥2.0 billion on October 17, 2024. A cash consideration of ¥2.05 billion will be paid by Mitsubishi Estate Logistics REIT Investment Corporation. As part of consideration, ¥2.05 billion is paid towards assets of MJ Logipark Aisai 1. The transaction will be financed from cash on hand.
Mitsubishi Estate Logistics REIT Investment Corporation (TSE:3481) completed the acquisitio of MJ Logipark Aisai 1 on October 17, 2024. Announcement • Sep 27
Mitsubishi Estate Logistics REIT Investment Corporation to Report Q4, 2024 Results on Oct 17, 2024 Mitsubishi Estate Logistics REIT Investment Corporation announced that they will report Q4, 2024 results on Oct 17, 2024 Upcoming Dividend • Aug 22
Upcoming dividend of JP¥9,382 per share Eligible shareholders must have bought the stock before 29 August 2024. Payment date: 22 November 2024. Trailing yield: 4.9%. Within top quartile of Japanese dividend payers (3.7%). Higher than average of industry peers (4.3%). Buy Or Sell Opportunity • Jul 10
Now 20% overvalued Over the last 90 days, the stock has fallen 3.8% to JP¥375,000. The fair value is estimated to be JP¥312,457, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 22% over the last 3 years. Earnings per share has grown by 6.9%. Buy Or Sell Opportunity • Apr 26
Now 21% overvalued after recent price rise Over the last 90 days, the stock has risen 7.4% to JP¥405,000. The fair value is estimated to be JP¥333,494, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 22% over the last 3 years. Earnings per share has grown by 6.9%. Declared Dividend • Apr 17
First half dividend of JP¥9,382 announced Shareholders will receive a dividend of JP¥9,382. Ex-date: 29th August 2024 Payment date: 22nd November 2024 Dividend yield will be 4.4%, which is about the same as the industry average. Reported Earnings • Apr 16
First half 2024 earnings released: EPS: JP¥7,385 (vs JP¥7,047 in 1H 2023) First half 2024 results: EPS: JP¥7,385 (up from JP¥7,047 in 1H 2023). Revenue: JP¥7.75b (up 8.3% from 1H 2023). Net income: JP¥3.72b (up 8.3% from 1H 2023). Profit margin: 48% (in line with 1H 2023). Over the last 3 years on average, earnings per share has increased by 7% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings. Price Target Changed • Mar 08
Price target decreased by 9.8% to JP¥433,000 Down from JP¥480,200, the current price target is an average from 4 analysts. New target price is 21% above last closing price of JP¥358,000. Stock is down 10% over the past year. The company posted earnings per share of JP¥13,927 last year. Upcoming Dividend • Feb 21
Upcoming dividend of JP¥7,963 per share Eligible shareholders must have bought the stock before 28 February 2024. Payment date: 23 May 2024. Trailing yield: 4.6%. Within top quartile of Japanese dividend payers (3.3%). In line with average of industry peers (4.6%). Reported Earnings • Oct 19
Full year 2023 earnings released Full year 2023 results: Revenue: JP¥14.7b (up 17% from FY 2022). Net income: JP¥6.94b (up 17% from FY 2022). Profit margin: 47% (in line with FY 2022). Upcoming Dividend • Aug 23
Upcoming dividend of JP¥7,832 per share at 4.0% yield Eligible shareholders must have bought the stock before 30 August 2023. Payment date: 21 November 2023. Trailing yield: 4.0%. Within top quartile of Japanese dividend payers (3.5%). In line with average of industry peers (3.7%). Reported Earnings • Jun 04
Full year 2023 earnings released: EPS: JP¥14,091 (vs JP¥12,988 in FY 2022) Full year 2023 results: EPS: JP¥14,091 (up from JP¥12,988 in FY 2022). Revenue: JP¥14.3b (up 42% from FY 2022). Net income: JP¥6.86b (up 35% from FY 2022). Profit margin: 48% (down from 51% in FY 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 9% per year but the company’s share price has only increased by 3% per year, which means it is significantly lagging earnings growth. Reported Earnings • Apr 19
First half 2023 earnings released: EPS: JP¥7,046 (vs JP¥6,495 in 1H 2022) First half 2023 results: EPS: JP¥7,046 (up from JP¥6,495 in 1H 2022). Revenue: JP¥7.15b (up 42% from 1H 2022). Net income: JP¥3.43b (up 35% from 1H 2022). Profit margin: 48% (down from 51% in 1H 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 8% per year whereas the company’s share price has increased by 5% per year. Board Change • Mar 28
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 3 non-independent directors. Executive Director Ken Takanashi was the last director to join the board, commencing their role in 2021. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Upcoming Dividend • Feb 20
Upcoming dividend of JP¥7,628 per share at 3.9% yield Eligible shareholders must have bought the stock before 27 February 2023. Payment date: 22 May 2023. Trailing yield: 3.9%. Within top quartile of Japanese dividend payers (3.6%). In line with average of industry peers (4.0%). Price Target Changed • Dec 13
Price target decreased to JP¥483,000 Down from JP¥521,333, the current price target is an average from 3 analysts. New target price is 11% above last closing price of JP¥435,500. Stock is down 14% over the past year. The company posted earnings per share of JP¥13,252 last year. Reported Earnings • Dec 04
Full year 2022 earnings released: EPS: JP¥13,252 (vs JP¥12,214 in FY 2021) Full year 2022 results: EPS: JP¥13,252 (up from JP¥12,214 in FY 2021). Revenue: JP¥12.6b (up 27% from FY 2021). Net income: JP¥5.96b (up 25% from FY 2021). Profit margin: 48% (in line with FY 2021). Over the last 3 years on average, earnings per share has increased by 9% per year whereas the company’s share price has increased by 8% per year. Board Change • Nov 16
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 3 non-independent directors. Executive Director Ken Takanashi was the last director to join the board, commencing their role in 2021. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Oct 17
Full year 2022 earnings released: EPS: JP¥13,132 (vs JP¥12,214 in FY 2021) Full year 2022 results: EPS: JP¥13,132 (up from JP¥12,214 in FY 2021). Revenue: JP¥11.3b (up 14% from FY 2021). Net income: JP¥5.52b (up 16% from FY 2021). Profit margin: 49% (in line with FY 2021). Net asset value (NAV) per share: JP¥297,352 (flat on FY 2021). The current share price is 36% higher than NAV per share. Over the last 3 years on average, earnings per share has increased by 9% per year whereas the company’s share price has increased by 4% per year. Upcoming Dividend • Aug 23
Upcoming dividend of JP¥7,307 per share Eligible shareholders must have bought the stock before 30 August 2022. Payment date: 21 November 2022. Trailing yield: 3.1%. Lower than top quartile of Japanese dividend payers (3.6%). Lower than average of industry peers (3.6%). Reported Earnings • Jun 03
Full year 2022 earnings released: EPS: JP¥12,988 (vs JP¥11,405 in FY 2021) Full year 2022 results: EPS: JP¥12,988 (up from JP¥11,405 in FY 2021). Revenue: JP¥10.1b (up 33% from FY 2021). Net income: JP¥5.08b (up 36% from FY 2021). Profit margin: 51% (up from 49% in FY 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 10% per year but the company’s share price has increased by 20% per year, which means it is tracking significantly ahead of earnings growth. Board Change • Apr 27
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 3 non-independent directors. Executive Director Ken Takanashi was the last director to join the board, commencing their role in 2021. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Apr 17
First half 2022 earnings released: EPS: JP¥6,495 (vs JP¥5,959 in 1H 2021) First half 2022 results: EPS: JP¥6,495 (up from JP¥5,959 in 1H 2021). Revenue: JP¥5.03b (up 20% from 1H 2021). Net income: JP¥2.54b (up 23% from 1H 2021). Profit margin: 51% (up from 49% in 1H 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 9% per year but the company’s share price has increased by 23% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Feb 22
Mitsubishi Estate Logistics REIT Investment Corporation to Report Fiscal Year 2022 Results on Apr 15, 2022 Mitsubishi Estate Logistics REIT Investment Corporation announced that they will report fiscal year 2022 results on Apr 15, 2022 Upcoming Dividend • Feb 18
Upcoming dividend of JP¥7,099 per share Eligible shareholders must have bought the stock before 25 February 2022. Payment date: 20 May 2022. Trailing yield: 2.9%. Lower than top quartile of Japanese dividend payers (3.4%). Lower than average of industry peers (3.8%). Buying Opportunity • Jan 13
Now 20% undervalued The stock has been flat over the last 90 days. The fair value is estimated to be JP¥609,604, however is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 26% per annum over the last 3 years. Earnings per share has grown by 9.1% per annum over the last 3 years. Price Target Changed • Nov 01
Price target increased to JP¥557,333 Up from JP¥507,000, the current price target is provided by 1 analyst. New target price is 14% above last closing price of JP¥490,000. Stock is up 18% over the past year. The company posted earnings per share of JP¥12,075 last year. Upcoming Dividend • Aug 23
Upcoming dividend of JP¥6,685 per share Eligible shareholders must have bought the stock before 30 August 2021. Payment date: 20 November 2021. Trailing yield: 2.7%. Lower than top quartile of Japanese dividend payers (3.1%). Lower than average of industry peers (3.4%). Reported Earnings • Apr 18
First half 2021 earnings released: EPS JP¥5,959 (vs JP¥5,563 in 1H 2020) The company reported a solid first half result with improved earnings and revenues, although profit margins were weaker. First half 2021 results: Revenue: JP¥15.2b (up 375% from 1H 2020). Net income: JP¥2.07b (up 27% from 1H 2020). Profit margin: 14% (down from 51% in 1H 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 5% per year but the company’s share price has increased by 20% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Apr 15
Mitsubishi Estate Logistics REIT Investment Corporation Provides Earnings Guidance for the Period Ending August 31, 2021 and February 28, 2022 Mitsubishi Estate Logistics REIT Investment Corporation provided earnings guidance for the period ending August 31, 2021 and February 28, 2022. For the period ending August 31, 2021, the company expects operating revenues to be JPY 4,941 million, operating income to be JPY 2,521 million and net income to be JPY 2,335 million.
For the period ending February 28, 2022, the company expects operating revenues to be JPY 5,035 million, operating income to be JPY 2,613 million and net income to be JPY 2,492 million. Is New 90 Day High Low • Feb 24
New 90-day high: JP¥430,500 The company is up 8.0% from its price of JP¥398,000 on 26 November 2020. The Japanese market is up 10.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the REITs industry, which is up 16% over the same period. Announcement • Feb 20
Mitsubishi Estate Logistics REIT Investment Corporation (TSE:3481) agreed to acquire Logicross Narashino / Logicross Osaka / Logicross Nagoya Kasadera from Shin-Narashino Property Godo Kaisha and others for ¥21.4 billion. Mitsubishi Estate Logistics REIT Investment Corporation (TSE:3481) agreed to acquire Logicross Narashino / Logicross Osaka / Logicross Nagoya Kasadera from Shin-Narashino Property Godo Kaisha and others for ¥21.4 billion on February 18, 2021. Under the terms of transaction, Logicross Narashino property will be acquired from Shin-Narashino Property Godo Kaisha. The acquisition price will be funded from the borrowing and cash on hand. The deal is expected to be completed by March 9, 2021. Japan Real Estate Institute acted as Real estate appraiser in the deal. Announcement • Feb 19
Mitsubishi Estate Logistics REIT Investment Corporation Revises Earnings Guidance for the Fiscal Period Ending August 31, 2021 Mitsubishi Estate Logistics REIT Investment Corporation revised earnings guidance for the fiscal period ending August 31, 2021. For the fiscal period ending August 31, 2021, the company expects operating revenues of JPY 4,938 million compared to previous guidance of JPY 4,215 million, operating income of JPY 2,488 million compared to previous guidance of JPY 2,074 million, net income of JPY 2,320 million compared to previous guidance of JPY 1,977 million. Upcoming Dividend • Feb 18
Upcoming Dividend of JP¥6,520 Per Share Will be paid on the 20th of May to those who are registered shareholders by the 25th of February. The trailing yield of 3.1% is in the top quartile of Japanese dividend payers (2.8%), but it is lower than industry peers (3.8%). Announcement • Jan 31
Mitsubishi Estate Logistics REIT Investment Corporation to Report Fiscal Year 2020 Results on Apr 15, 2021 Mitsubishi Estate Logistics REIT Investment Corporation announced that they will report fiscal year 2020 results on Apr 15, 2021 Is New 90 Day High Low • Dec 07
New 90-day low: JP¥389,500 The company is down 7.0% from its price of JP¥421,000 on 08 September 2020. The Japanese market is up 10.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the REITs industry, which is down 1.0% over the same period. Announcement • Sep 19
Mitsubishi Estate Logistics REIT Investment Corporation (TSE:3481) agreed to acquire EntreX CS Center from SMFL Mirai Partners Co., Ltd. for ¥3.1 billion. Mitsubishi Estate Logistics REIT Investment Corporation (TSE:3481) agreed to acquire EntreX CS Center from SMFL Mirai Partners Co., Ltd. for ¥3.1 billion on August 27, 2019. Mitsubishi Estate Logistics REIT Investment Corporation planning to change to name of EntreX CS Center to MJ Logipark Tsuchiura 1. The transaction is funded through borrowings and cash in hand. The transaction is expected to be completed on September 2, 2019. Japan Real Estate Institute acted as appraiser in the transaction. Announcement • Aug 31
Mitsubishi Estate Logistics REIT Investment Corporation to Report Fiscal Year 2020 Results on Oct 15, 2020 Mitsubishi Estate Logistics REIT Investment Corporation announced that they will report fiscal year 2020 results on Oct 15, 2020 
