English Translation
April 15, 2024
For Immediate Release
Real Estate Investment Trust Securities Issuer
2-3-4 Uchikanda, Chiyoda-ku, Tokyo
SANKEI REAL ESTATE Inc.
Representative: Yuichi Ota, Executive Director(TSE code: 2972)
Asset Management Company
Sankei Building Asset Management Co., Ltd.
Representative: Yuichi Ota
President and CEO
Contact:
Akio Watanabe
General Manager of Finance & IR Department
TEL: +81-3-5542-1316
Notice Concerning Differences from Operating Forecasts and Distribution Forecastsin Actual Results for the Fiscal Period Ended February2024
SANKEI REAL ESTATE Inc. (“SANKEI REAL ESTATE”) announces that differences from the operating forecasts anddistribution forecasts announced on October 16, 2023, resulted in the following actual results for the fiscal period
ended February 2024 (from September 1, 2023 to February 29, 2024).
1.

Differences from the figures of operating forecasts and distribution forecasts in the figures of actual results forthe fiscal period ended February 2024
Operatingrevenue

OperatingprofitPrevious forecasts(A)Actual results(B)Amount of change(B−A)

2,613
7,778

1,150
1,229

5,165

Rate of change

197.7%

Ordinaryprofit

Distribution
per unit

Distribution
per unit

Distribution inexcess ofearnings
per unit

Net Profit(distribution in excessof earnings included)

958
1,038

957
1,037

2,050
2,221

2,050
2,221

‐
‐

7980

80

171

171

‐

6.9%

8.4%

8.4%

8.3%

8.3%

‐

(million yen)

(distribution in excessof earnings excluded)(yen)(Reference) Result forthe previous period
2,751
1,334
1,130
1,129
2,418
2,418
‐
(Ended August 2023)(Note 1) For the figures of actual results, please refer to “(REIT) Financial Report for the Fiscal Period Ended February 2024” dated April15, 2024.
(Note 2) Figures are rounded down to the nearest specified unit and the rate of change is rounded to one decimal place.
(Note 3) Number of investment units issued and outstanding at end of period: Fiscal period ended August 2023, 467,099 units; Fiscal
period ended February 2024, 467,099 units

2.

Reasons for differences
The "sale and acquisition of some properties," which was announced as an assumption for the forecast in the"Financial Report for the Fiscal Period Ended August 31, 2023 (REIT)" dated October 16, 2023, was executed asa "major portfolio rebalancing" announced on January 30, 2024. As the details of the dispositions werefinalized, gains on sales of properties were recorded as operating revenues and losses on sales of properties
were recorded as operating expenses, resulting in a significant increase in operating revenues from the initialforecast.
As for the Distribution, the result exceeded the previous forecast due to the higher net of gain and loss on
sales of assets disposed (two office buildings) to the assumption as a result of the portfolio rebalancing.

* SANKEI REAL ESTATE Inc. website: https://www.s-reit.co.jp/en/"This notice is the English translation of the original Japanese document and is provided solely for information purposes.
There is no assurance as to the accuracy and/or the completeness of the English translation. In the event of any discrepancy between thistranslation and the Japanese original, the latter shall prevail."