December 13, 2016

Financial Report for the Fiscal Period Ended October 31, 2016
(For the Reporting Period from May 1, 2016 to October 31, 2016)
Name of REIT issuer:

Sekisui House Reit, Inc. (“SHR”)

Stock exchange listing:
Securities code:
URL:
Representative:

Tokyo Stock Exchange3309
http://www.sekisuihouse-reit.co.jp/en/
Junichi Inoue, Executive Director

Asset management company:
Representative:
Inquiries:

Sekisui House Investment Advisors, Ltd.
Junichi Inoue, President & Representative Director
Atsuhiro Kida, Director & General Manager, Management Division
TEL: +81-3-6447-4870

Scheduled date to file securities report:
Scheduled date to commence distribution payment:
Preparation of supplementary material on financial report
Holding of financial report presentation meeting:January 27, 2017
January 23, 2017
Yes
Yes (for institutional investors and analysts)(Amounts truncated to the nearest million yen)

1. Summary of financial results for the fiscal period ended October 31, 2016
(May 1, 2016 – October 31, 2016)(1) Operating results
Operating Revenue
Fiscal period ended
October 31, 2016
April 30, 2016

Millions of yen

Operating Income(Percentages show changes from the previous period)
Ordinary Income
Net Income% Millions of yen

4,059
3,467

17.1
2.6

Net Income per Unit

2,664
2,278

% Millions of yen

17.0(0.5)

18.0
0.8

Ordinary Income toTotal Assets

Return on Equity

Yen

Fiscal period ended
October 31, 2016
April 30, 2016

% Millions of yen

2,321
1,967

%

2,634
2,477

2,320
1,966

%

18.0
0.8

Ordinary Income toOperating Revenue
%

2.4
2.2%

1.3
1.2

57.2
56.8

(Note) Net income per unit is calculated by dividing net income by the day-weighted average number of investment unitsoutstanding during the period.

(2) Distributions
Distributions
per Unit

TotalDistributions

Distributions in
TotalDistributions
Excess ofDistributions in
Payout Ratio to Net Assets(excluding(excludingEarnings per
Excess ofDistributions inDistributions in
Unit
Earnings
Excess of Earnings) Excess of Earnings)
Fiscal period ended
October 31, 2016
April 30, 2016
(Note)

Yen

2,596
2,477

Millions of yen

2,320
1,966

Yen

00

Millions of yen

00%

100.0
100.0%

2.3
2.2

The payout ratio was calculated by the following formula because the number of investment units changed during
the period due to issuances of new investment units during the period.
Payout ratio = Total distributions (excluding distributions in excess of earnings) / Net income × 100

This is an English translation of summarized financial report translated for informational purposes only. If there
is any discrepancy between the Japanese version and the English translation, the Japanese version shall prevail.

-1-(3) Financial position
Total Assets

Net Assets

Equity Ratio

Net Assets per Unit

Millions of yen

Millions of yen

189,257
166,303102,361
89,71054.1
53.9

114,498
112,985

Net Cash
Provided by (Used in)Operating Activities

Net Cash
Provided by (Used in)Investing Activities

Net Cash
Provided by (Used in)
Financing Activities

Cash and Cash
Equivalents
at End of Period

Millions of yen

Millions of yen

Millions of yen

Millions of yen

2,364
3,831

(25,589)5

19,470(1,949)10,34314,097

As ofOctober 31, 2016
April 30, 2016

%Yen

(4) Cash flows

Fiscal period ended
October 31, 2016
April 30, 2016

2. Forecasts of performance for the fiscal period ending April 30, 2017 (November 1, 2016 – April 30,2017) and the fiscal period ending October 31, 2017 (May 1, 2017 – October 31, 2017)

Operating
Revenue(Percentages show changes from the previous period)
Distributions
per Unit Distributions
in Excess of(excluding
Ordinary Income Net Income
Distributions in Earnings per
Excess ofUnit

OperatingIncomeEarnings)

Fiscal period ending
April 30, 2017
October 31, 2017

Millionsof yen4,140
4,149%

2.0
0.2

Millionsof yen2,686
2,657%

0.8(1.1)

Millionsof yen2,361
2,315%

1.7(1.9)

Millionsof yen2,360
2,314%

1.7(1.9)

Yen

2,640
2,590

Yen00(Reference) Forecasted net income per unit (Forecasted net income / Forecasted number of investment units at end of period)
For the fiscal period ending April 30, 2017:
2,640 yen
For the fiscal period ending October 31, 2017:
2,589 yen

* Other(1) Changes in accounting policies, changes in accounting estimates, and retrospective restatementa. Changes in accounting policies due to revisions to accounting standards and other regulations: Noneb. Changes in accounting policies due to reasons other than a. above:Nonec. Changes in accounting estimates:
None
d. Retrospective restatement:
None(2) Number of investment units issued
a. Number of investment units issued at end of period (including treasury investment units)
As of October 31, 2016:
894,000 units
As of April 30, 2016:
794,000 units
b. Number of treasury investment units at end of period
As of October 31, 2016:– units
As of April 30, 2016:– units* Status of audit procedures• As of the time of disclosure of this financial report, audit procedures for the financial statements
pursuant to the Financial Instruments and Exchange Act of Japan are not yet completed.
This is an English translation of summarized financial report translated for informational purposes only. If there
is any discrepancy between the Japanese version and the English translation, the Japanese version shall prevail.

-2-* Remarks on appropriate use of forecasts of performance and other special notes• Forward-looking statements presented in this financial report, including forecasts of performance, arebased on information currently available to SHR and on certain assumptions it deems to be reasonable.
As such, actual operating and other results may differ materially from these forecasts as a consequenceof numerous factors. These forecasts do not guarantee the distribution amount.

This is an English translation of summarized financial report translated for informational purposes only. If there
is any discrepancy between the Japanese version and the English translation, the Japanese version shall prevail.

-3-