Translation
May 16, 2011

Sekisui House SI Investment Corporation
Financial Report for the Fiscal Period ended March 31, 2011

Head Office:Stock Exchange Listing:
URL:Inquiries:

Tokyo
Tokyo Stock Exchange (code number 8973)
http://www.shsi-reit.co.jp/
Makoto Asamoto
Sekisui House SI Asset Management, Ltd. (Asset Management Company)
General Manager, Administration+81-3-5215-8973

Name:
Title:
TEL:

Planned date of submissionof the Securities Report:
Planned commencement date ofdistribution payment:

June 23, 2011
June 15, 2011
(Note: Figures rounded down to nearest million yen)

1. Performance for the Fiscal Period ended March 31, 2011 (October 1, 2010 to March 31, 2011)(1) Operating Results*Percentages indicate changes over the previous fiscal period.
Operating Revenue

Operating Income

Ordinary Income

Net Income

Million yen％*

Million yen％*

Million yen％*

Million yen％*

Fiscal period ended
March 31, 2011

3,462

3.8

1,655

5.0

1,144

19.6

1,126

20.0

Fiscal period ended
September 30, 2010

3,334

△2.0

1,576

△6.6956

△9.2

938

△10.8

Net Income
per Unit

Return on Unitholders’Equity (ROE)

Ordinary Income on
Total Assets

Ordinary Income on
Operating Revenue

Yen％％％

Fiscal period ended
March 31, 2011

9,793

2.2

1.133.0

Fiscal period ended
September 30, 2010

8,164

1.90.928.7(2) Distributions
Distribution
per Unit

TotalDistributions

Distribution in
Excess ofEarnings per Unit

Total
Distributions in
Excess ofEarnings

Distribution
Ratio to
Net Assets

Payout Ratio

YenMillion yen

Yen

Yen％％

Fiscal period ended
March 31, 2011

9,793

1,126

00

100.0

2.2

Fiscal period ended
September 30, 2010

8,160

938

0099.91.8

Note: The payout ratio is rounded down to the first decimal place.

1This translation is for informational purpose only. If there is any discrepancy between the Japanese version and theEnglish translation, the Japanese version shall prevail.

(3) Financial Position
Total Assets

Unitholders’ Equity toTotal Assets

Net Assets

Net Assets per Unit

Million yen

Million yen%

Yen

Fiscal period ended
March 31, 2011

107,352

51,65048.1

448,860

Fiscal period ended
September 30, 2010

104,422

51,46249.3

447,227(4) Cash Flow Position
Cash Flows fromOperating Activities

Cash Flows from
Investing Activities

Cash and Cash
Equivalents at the End ofthe Period

Cash Flows fromFinancing Activities

Million yen

Million yen

Million yen

Million yen

Fiscal period ended
March 31, 2011

1,913

△4,539

1,847

5,080

Fiscal period ended
September 30, 2010

1,605

△346

△1,0785,858

2. Forecast of Results for the Fiscal Period ending September 2011 (April 1, 2011 to September 30, 2011)*Percentages indicate changes over the previous fiscal period.
Operating
Revenue
MillionOperating
Income％*yen

Fiscal period ending
September 30, 2011

3,529

MillionOrdinary
Income％*yen

1.9

1,588

MillionNet
Income％*yen

△4.0

1,136

MillionDistributionper Unit％*YenYen

0.8

9,8700yen△0.71,135

Distribution in
Excess ofEarnings per Unit

Reference: Estimated net income per unit for the fiscal period ending September 30, 2011: 9,870yen

Explanation concerning the Proper Use of the Forecast of Results and Other Issues to be Noted
Descriptions with regard to future issues including the forecast of operating results are based on the current information
held by the Sekisui House SI Investment Corporation and certain assumptions deemed reasonable. The actual operatingresults may materially differ from the forecast for various reasons. The forecast is not intended to assure the amount ofdistributions to investors.

2This translation is for informational purpose only. If there is any discrepancy between the Japanese version and theEnglish translation, the Japanese version shall prevail.