March 15, 2017

Financial Results for the Fiscal Period Ended January 31, 2017
Name: Comforia Residential REIT, Inc
Listed Stock Exchange: Tokyo Stock Exchange
Security Code: 3282
URL: http://comforia-reit.co.jp/english/
Representative: Hiroyuki Tohmata, Executive Director
Asset Management Company: TLC Comforia Investment Management INC.
Representative: Hiroyuki Tohmata, President & CEO
Inquiries: Kentaro Yoshikawa, General Manager of Finance & Accounting department
TEL: +81-3-5770-5710
Scheduled Issue Date of Securities Report: April 27, 2017
Scheduled Commencement Date of Cash Distribution: April 14, 2017
Supplementary Presentation Material on Financial Results: Yes
Presentation Meeting of Financial Results: Yes (for institutional investors and analysts)(Figures less than one million yen are rounded down)

1. Results of Operating and Assets for the Fiscal Period Ended January 31, 2017 (August 1, 2016 - January 31, 2017)(1) Operating Results(Percentages show changes compared to the previous period)
Operating Revenues
Million yen%
Period Ended
Jan. 31, 2017
Period Ended
Jul. 31, 2016

Operating Income
Million yen%

Ordinary Income
Million yen%

Net Income
Million yen%

6,674

( 2.2)

2,788( 1.5)

2,341

( 1.2)

2,335( 1.4)

6,531( 29.3)

2,746( 5.5)

2,312( 7.6)

2.304( 7.3)Net Income Per Unit

Return on Equity(ROE)

Return on Assets
(ROA)

Yen
Period Ended
Jan. 31, 2017
Period Ended
Jul. 31, 2016%%

Ordinary Income toOperating Income Ratio
%

4,548

2.7

1.3

35.1

4,489

2.8

1.4

35.4

(2) Cash Distributions
Cash
Distribution
Per Unit(excluding CashDistribution
in Excess ofNet Income)Yen

Total CashDistributions

Cash
Distribution
in Excess of
Net Income
Per Unit

Total CashDistributions
in Excess ofNet IncomeYen

Million yen

Million yen
Period Ended
4,549
2,335
Jan. 31, 2017
Period Ended
4,487
2,304
Jul. 31, 2016
Note: Payout ratio was calculated as follows :Payout Ratio

DistributionRatio
to Net Asset%

0100.02.70099.9

2.7

Payout ratio ＝ Total distributions ÷ Net income ×100 （Payout ratio is rounded down to the first decimal place）- 1 -%0

(3) Financial Position
Total Assets
Million yen
Period Ended
Jan. 31, 2017
Period Ended
Jul. 31, 2016

Net Assets
Million yen

Capital Adequacy Ratio%Net Assets Per UnitYen183,902

85,171

46.3

165,863

179,944

85,13947.3

165,801

Cash Flows fromOperating Activities

Cash Flows from
Investing Activities

Cash Flows from
Financing Activities(4) Cash Flows

Period Ended
Jan. 31, 2017
Period Ended
Jul. 31, 2016

Cash and
Cash Equivalents
at End of Period
Million yen

Million yen

Million yen

Million yen

3,694△ 4,129

1,344

11,646

3,605△ 20,107

16,906

10,737

2. Forecasts of Financial Results for the Fiscal Period Ending July 31, 2017 (February 1, 2017 - July 31, 2017)(Percentages show changes compared to the previous period)
CashDistributionCashPer Unit
Distribution
OperatingOperatingOrdinary
Net Income(excluding Cashin Excess ofRevenues
IncomeIncomeDistribution
Net Income
in Excess ofPer UnitNet Income)Million yen (%) Million yen (%) Million yen (%) Million yen (%)
YenYenPeriod Ended
7,165 ( 7.4)
3,071 ( 10.2)
2,575 ( 10.0)
2,568 ( 10.0)
Jul. 31, 2017
(Reference) Forecast of net income per unit (fiscal period ending July 31, 2017) is 4,558 yen.

4,6100(Note) Cash distributions per unit for the fiscal period ending July 31, 2017 is calculated based on net income and the reversals of reserve
for reduction entry of property totaling 30 million yen.

3. Others(1) Changes in accounting policies, changes in accounting estimates, and retrospective restatementa. Changes in accounting policies due to reversions in accounting standard: Noneb. Changes not mentioned in a. above: Nonec. Changes in accounting estimates: None
d. Retrospective Restatement: None
(2) The number of investment units issued
a. The number of investment units issued at end of period (including treasury units)
Fiscal Period Ended January 31, 2017: 513,504 units Fiscal Period Ended July 31, 2016: 513,504 units
b. The number of treasury units at end of period
Fiscal Period Ended January 31, 2017: 0 units
Fiscal Period Ended July 31, 2016: 0 units(Note) Net income per unit is calculated by dividing net income by the weighted average number of investment
unit.
*Status of audit proceduresThis material is outside the scope of audit procedures based on the Financial Instruments and Exchange Act Japan(Act No. 25 of 1948, including subsequent revisions, hereinafter referred to as the “Financial Instruments andExchange Act”). As of the time of disclosing this material, audit procedures for the financial statements based on theFinancial Instruments and Exchange Act are incomplete.
*Appropriate use of forecasts of financial results and other special items
Forward-looking statements in this material including forecasts of financial results are based on information
currently available to us and on certain assumptions we deem to be reasonable. Therefore, actual operating and- 2 -other results may differ materially due to various factors. In addition, the forecasts do not guarantee the payment ofthe amount.
This material is a translated excerpt from Brief Announcement on the Financial Result (“Kessan Tanshin”) in Japanese released
today, and is for reference purposes only. If any discrepancies arise between this material and the original Japanese version, the later
will prevail.

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