March 17, 2022
For Translation Purposes Only
Real Estate Investment Fund Issuer:
Mori Hills REIT Investment Corporation(Securities Code: 3234)
1-12-32 Akasaka, Minato-ku, Tokyo
Hideyuki Isobe, Executive Director
Asset Manager:
Mori Building Investment Management Co., Ltd.
Hideyuki Isobe, President & CEOInquiries: Akira Nemoto
General Manager of Financial Department
TEL: +81-3-6234-3234
MHR Revises Forecasts of Financial Results and Dividend per Unit
for the Fiscal Period Ending July 2022
Mori Hills REIT Investment Corporation (hereinafter “MHR”) has revised its forecasts of financial
results and dividend per unit for the thirty-second fiscal period ending July 2022 (February 1, 2022
to July 31, 2022) disclosed as of September 14, 2021, as follows.
1. Revision of Forecasts of Financial Results and Dividend per Unit for the Thirty-Second Fiscal PeriodEnding July 2022
Dividendper Unit

Dividend in
Excess ofEarnings
per Unit

Operating
Revenue

Operating
IncomeOrdinary
IncomeNet Income

Previous forecast
(A)

9,799
million yen

6,033
million yen

5,481
million yen

5,480
million yen

2,860 yen- yen

Revised forecast(B)11,178
million yen

6,995
million yen

6,448
million yen

6,447
million yen

3,030 yen

- yen

Difference(B)－(A)

1,379
million yen

961
million yen

966
million yen

966
million yen

170 yen

- yen

14.1%

15.9%

17.6%

17.6%

5.9%

-%

Rate ofincrease/decrease(excluding
dividend inexcess ofearnings)<Reference>
Thirty-Second Fiscal Period Ending July 2022
Forecast number of investment units issued and outstanding at end of period: 1,916,330 units
Forecast net income per unit: 3,364 yen(Note) Dividend per unit for the thirty-second fiscal period is calculated based on the assumption that distributions
will be made in the remaining amount after deduction of provision of reserve for reduction entry from netincome.

12. Reason for the Revision of Forecasts of Financial Results and Dividend per Unit
In connection with the partial transfer of the trust beneficiary interests described in the press
release “MHR Announces Partial Transfer of Trust Beneficiary Interest in Domestic Real Estate(Laforet Harajuku (Land): Partial Transfer)” announced today, there will be changes to theassumptions of forecasts for financial results and dividend per unit for the fiscal period ending
July 31, 2022 stated in the press release “Financial Report for the Thirtieth Fiscal Period Ended
July 31, 2021” dated September 14, 2021. It is expected that these changes will result in thedifferences of 10% or more in terms of operating revenue and 5% or more in terms of dividend perunit, therefore MHR has revised its forecasts.
(Notes)1. The above forecasts for thirty-second fiscal period ending July 2022 have been calculated based on theassumptions stated in the press release “Financial Report for the Thirty-First Fiscal Period Ended
January 31, 2022” announced today. Therefore, actual operating revenue, operating income, ordinary
income, net income, dividend per unit (excluding dividend in excess of earnings) and dividend in excessof earnings per unit may change due to factors such as future acquisition or transfer of real estate,changes in the real estate market and other changes in circumstances, etc. regarding MHR. Therefore,
the above forecasts do not guarantee actual performance or dividend amount.
2. MHR may revise the forecasts if it expects substantial discrepancies from the above forecasts.
3. Figures of less than one unit are rounded off and the percentage is rounded to the first decimal place.

MHR’s website address is https://www.mori-hills-reit.co.jp/en/2