NOMURA REAL ESTATE MASTER FUND, INC.

TSE code :3462

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  3. Portfolio concentrated in Greater Tokyo Area

Portfolio concentrated in Greater Tokyo Area

Portfolio concentrated in Greater Tokyo Area, where stable income over the medium to long term can be expected with stable tenant demands

NMF focuses its investments in the three major metropolitan areas (Greater Tokyo area, Chukyo area and Kinki area) and other major cities including government-designated cities in Japan and the surrounding areas of those cities. NMF's basic policy is to diversify its investment assets by region with the aim of mitigating earthquake risks and fluctuations in the reagional economies and leasing markets, while placing the greatest importance on tenant demands.
Particularly in Tokyo, where social capital, resources and activities such as politics, economy, culture and population are concentrated, the stable management of the assets based on steady tetant demands can be expected. NMF believes that it can secure stable imcome over the medium to long term by building a portfolio concentrated in the Greater Tokyo area (Tokyo, Kanagawa, Chiba, and Saitama prefectures).

Target Investment Area

NMF aims to build its portfolio targeting the following geographical composition based on the investment policy stated above.

Target Investment Area

Greater Tokyo Area
(Tokyo, Kanagawa, Chiba and Saitama prefectures)
75% or more
Chukyo Area (Aichi, Gifu and Mie prefectures) 25% or less
Kinki Area (Osaka, Kyoto, Hyogo and Nara prefectures)
Other cities
(Note1) The percentage is based on acquisition price (including the acquisition price of the assets to which we succeeded in the mergers and excluding national and local consumption taxes and other expenses for acquisition). The actual percentage may temporarily differs from the above-mentioned percentage.
(Note2) “Other cities” refers to the government-designated major cities, prefectural capitals and other cities that have a population of 100,000 persons or more, in each case which are not included in Greater Tokyo Area, Chukyo Area or Kinki Area; and surrounding areas of these cities.
Investment Area Diversification
Greater Tokyo 82.7%
Others 17.3%

Please refer to the Portfolio Map for more details.

(Note) Figures are based on the acquisition price of the portfolio properties NMF currently owns.
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