Translation
November 16, 2015

Sekisui House SI Residential Investment Corporation
Financial Report for the Fiscal Period ended September 30, 2015

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+81-3-5770-8973

Name:
Title:
TEL:

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

December 18, 2015
December 15, 2015
(Note: Figures rounded down to nearest million yen)

1. Performance for the Fiscal Period ended September 30, 2015 (April 1, 2015 to September 30, 2015)(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
September 30, 2015

6,411

2.0

2,743

△2.5

2,211

△4.1

2,209

△4.0

Fiscal period ended
March 31, 2015

6,286

12.4

2,814

14.2

2,305

18.0

2,302

18.0Net Income
per Unit

Return on Unitholders’Equity (ROE)

Ordinary Income toTotal Assets

Ordinary Income toOperating Revenue

Yen％％％

Fiscal period ended
September 30, 2015

2,170

2.4

1.1

34.5

Fiscal period ended
March 31, 2015

2,289

2.7

1.2

36.7

(2) Distributions
Distributionper Unit
Total Distributions(excluding(excluding Total
Distribution inDistribution in
Excess of Earnings Excess of Earnings)
per Unit)
Fiscal period ended
September 30, 2015

Distribution in
Excess ofEarnings per Unit

Total
Distributions in
Excess ofEarnings

Distribution
Ratio to
Net Assets

Payout Ratio

YenMillion yenYen

Million yen％％

2,122

2,1600097.7

2.4

Fiscal period ended
2,185
2,224
0096.6
2.5
March 31, 2015
Note 1: Distribution per unit for the periods ended March 31, 2015 and September 30, 2015 is calculated based on the amount of unappropriated retained
earnings less the amount of reserve for reduction entry (¥77 million for the period ended March 31, 2015, and ¥49 million for the period ended
September 30, 2015), divided by the number of investment units issued.
Note 2: The payout ratio is rounded down to the first decimal place.
Note 3: The payout ratio for the fiscal period ended March 31, 2015 is calculated by the following formula as new investment units were issued:
Payout Ratio = Total Distributions (excluding Total Distribution in Excess of Earnings) ÷ Net Income × 100

1This translation is for informational purpose only. If there is any discrepancy between the Japanese version and the English
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
September 30, 2015

195,280

91,213

46.7

89,590Fiscal period ended
March 31, 2015

194,03591,227

47.0

89,605(4) Cash Flow Position
Cash Flows fromOperating Activities

Cash Flows from
Investing Activities

Cash Flows from
Financing Activities

Cash and Cash
Equivalents at the End ofthe Fiscal Period

Million yen

Million yen

Million yen

Million yen

Fiscal period ended
September 30, 2015

6,804

△6,039

△723

8,111

Fiscal period ended
March 31, 2015

4,772

△19,587

14,5208,069

2. Forecast of Operating Results for the Fiscal Period ending March 31, 2016 (October 1, 2015 to March 31, 2016)*Percentages indicate changes over the previous fiscal period.

OperatingRevenueMillion

Operating
Income％*yen

Millionyen

Ordinary
Income％*Millionyen

Distributionper Unit
(excluding
Distribution in
Excess of Earningsper Unit)

Distribution in
Excess ofEarnings per Unit％*

Yen

Yen

△2.32,1200Net
Income％*Millionyen

Fiscal period ending
6,458
0.7
2,701
△1.5
2,160
△2.3
2,158
March 31, 2016
Reference: Estimated net income per unit for the fiscal period ending March 31, 2016: 2,119 yen

Explanation concerning the Proper Use of the Forecast of Operating 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 Residential Investment Corporation and certain assumptions it deems reasonable. The actual
operating results may materially differ from the forecast for various reasons. The forecast is not intended to assure theamount of distributions to investors.

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