Nomura Real Estate Office Fund, Inc. (NOF)(URL: http://www.nre-of.co.jp/english/) (TOKYO:8959), a Japanese office building real estate investment trust (J-REIT), announces financial results for the fiscal period from May 1, 2008 to October 31, 2008.
(Omit fractions under one million yen) | ||||||
(1) Operating Results                                        (Ratio of increases and decreases in comparison with the previous term) | ||||||
|  | Operating Revenues | Operating Profits | Current Profits | |||
| Period Ended | Millions of yen | (%) | Millions of yen | (%) | Millions of yen | (%) |
| October 31, 2008 | 13,925 | (14.3) | 6,932 | (19.0) | 5,256 | (16.8) |
| April 30, 2008 | 12,183 | (1.8) | 5,823 | (1.7) | 4,500 | (0.3) |
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|  | Net Income | Net Income per Unit | ROE (Return on Equity) | ROA (Return on Assets) | Current Profits to Operating Revenues Ratio | |
| Period Ended | Millions of yen | (%) | yen | % | % | % |
| October 31, 2008 | 5,255 | (16.8) | 17,563 | 2.8 | 1.4 | 37.7 |
| April 30, 2008 | 4,499 | (0.3) | 16,923 | 2.8 | 1.3 | 36.9 |
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(2) Distributions | ||||||
|  | Cash Distributions per Unit (Note1) | Cash Distributions | Distributions in Excess of Net Income per Unit | Distributions in Excess of Net Income | Payout Ratio (Note2) | Distributions to Net Asset Ratio  |
| Period Ended | yen | Millions of yen | yen | Millions of yen | % | % |
| October 31, 2008 | 17,225 | 5,255 | "• | "• | 99.9 | 2.8 |
| April 30, 2008 | 16,923 | 4,499 | "• | "• | 99.9 | 2.8 |
(Note1) Scheduled commencement date for cash distribution payment: January 22, 2009 | ||||||
(Note2) Payout Ratio is rounded off to the first decimal place. | ||||||
(3) Financial Position | ||||
|  | Total Assets | Net Assets | Capital Adequacy Ratio | Net Assets per Unit |
| Period Ended | Millions of yen | Millions of yen | % | yen |
| October 31, 2008 | 401,684 | 190,711 | 47.5 | 625,031 |
| April 30, 2008 | 353,730 | 161,267 | 45.6 | 606,488 |
(Reference) Equity capital | ||||
As of October 31, 2008     190,711 million yen | ||||
As of April 30,2008         161,267 million yen | ||||
(4) Cash Flows | ||||
|  | Cash Flows from Operating Activities | Cash Flows from Investing Activities | Cash Flows from Financing Activities | Cash and Cash Equivalents at End of Period |
| Period Ended | Millions of yen | Millions of yen | Millions of yen | Millions of yen |
| October 31, 2008 | 7,537 | -45,096 | 40,543 | 38,567 |
| April 30, 2008 | 6,080 | -25,696 | 21,183 | 35,583 |
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Forecasts of Financial Results for the Fiscal Period Ending April 30, 2008 (From November 1, 2008 to April 30, 2009) | ||||||
 | Operating Revenues | Operating Profits | Current Profits | Net Income | Cash Distributions per Unit | Distributions in Excess of Net Income per Unit |
| Period Ending | Millions of yen (%) | Millions of yen (%) | Millions of yen (%) | Millions of yen (%) | yen | yen |
| April 30, 2009 | 14,537 (4.4) | 6,960 (0.4) | 5,288 (0.6) | 5,287 (0.6) | 17,330 | "• |
(Reference) Forecast Net Income per Unit: 17,330 yen | ||||||
| Others | |
| (1) Changes in Accounting Policies | |
| a. Changes accompanying revisions in accounting standards etc. | Yes. |
| b. Changes excluding a. above | No. |
|  | |
| (2) Number of investment units issued | |
| a. The number of investment units issued (including treasury investment units) | |
| As of October 31, 2008 | 305,123 |
| As of April 30, 2008 | 265,903 |
| b. The number of treasury investment units | |
| As of October 31, 2008 | 0 |
| As of April 30, 2008 | 0 |
(Note) Net Income per Unit is figured out by dividing net income by the weighted average number of investment units. | |
The forecasts above are based on information currently available to NOF and on a certain condition deemed to be reasonable. The actual results may vary due to many factors. Accordingly, NOF does not guarantee the cash distribution amount identified above.
The information above is excerpt of and translated from Brief Report on Closing of Accounting Report ("Kessan Tanshin") in Japanese released on December 15, 2008. To confirm complete information, please refer to the original.
(Japanese) http://www.nre-of.co.jp/site/file/tmp-XY2eB.pdf
< About NOF > URL: http://www.nre-of.co.jp/english/
NOMURA OFFICE FUND, INC. (NOF) is listed on the Tokyo Stock Exchange (J-REIT) with the securities code number 8959, managed by Nomura Real Estate Asset Management Co., Ltd. (NREAM) within the Nomura Real Estate Group. The NOF Portfolio consists of office buildings located in the three major metropolitan areas and government-designated cities, etc.
Executive Director: Mitsuharu Sato
*Asset Management Company (AM Company): Nomura Real Estate Asset Management Co., Ltd.
*President and Chief Executive Officer of the AM Company: Tatsuo Inoue
