Financial Highlights

Japan Logistics Fund, Inc. (JLF) and its asset-manager, Mitsui & Co. Logistics Partners, Ltd., have placed the provision of a stable dividend to investors as one of its top management priorities.

 

The results from JLF's 12th fiscal period have enabled us to distribute 15,991 yen per unit, which is an 8.8% decrease from the previous fiscal period's dividend of 17,528 yen per unit, mainly due to the impact of The Great East Japan Earthquake.

The following chart summarizes our financial data for the 11th and 12th fiscal periods.

 

	12th Fiscal Period (Feb. 1, 2011 - Jul. 31, 2011)	11th Fiscal Period (Aug. 1, 2010 - Jan. 31, 2011)	Change
Revenues	5,525 million yen	5,433 million yen	1.7%
Ordinary Income	2,667 million yen	2,595 million yen	2.8%
Net Income	2,366 million yen	2,594 million yen	(8.8%)
Dividend per Unit	15,991 yen	17,528 yen	(8.8%)
FFO per Unit	24,590 yen	25,668 yen	(4.2%)
FFO Payout Ratio	65.0%	68.3%	(3.3%)
No. of Units Issued	148,000 units	148,000 units	0
Total Rentable Area	714,969.97m2	714,969.97m2	0m2
No. of Properties	28 properties	28 properties	0
End-of-Period Occupancy	99.9%	96.6%	3.3%

 

Regarding debt management, we conduct operations in accordance with our conservative financial strategy. The ratio of interest-bearing debt stands at 27.6% and the amount of loans outstanding is 37.2 billion yen as of the end of the 12th fiscal period.

 

We also assume that external growth will be necessary to achieve further diversification of the sources of our cash flow.

 

Kenichiro Matsuoka
CFO
Mitsui & Co., Logistics Partners Ltd.