Translation
November 15, 2016

Financial Report for the Fiscal Period ended September 30, 2016

Name of Real Estate Investment Trust Securities Issuer :Stock Exchange Listing :URL :Representative :Sekisui House SI Residential Investment Corporation

Asset Management Company :Representative :Inquiries :Sekisui House SI Asset Management, Ltd.
Osamu Minami, President
Koichi Iso, General Manager, Management Department
TEL: +81-3-5770-8973 (main)

Planned Date of Submission of the Securities Report :Planned Commencement Date of Distribution Payment :December 26, 2016 (Japanese only)
December 15, 2016

Preparation of Supplementary Material on Financial Report :Holding of Financial Report Presentation Meeting :Yes
Yes (for institutional investors and analysts)

Tokyo Stock Exchange (code number 8973)

http://www.shsi-reit.co.jp/eng/
Osamu Minami, Executive Director(Note: Figures rounded down to nearest million yen)

1. Performance for the Fiscal Period ended September 30, 2016 (April 1, 2016 to September 30, 2016)(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, 2016

6,693

2.3

2,739(0.1)

2,193(0.9)

2,192(0.8)

Fiscal period ended
March 31, 2016

6,543

2.0

2,741(0.1)

2,214

0.1

2,210

0.0

Net Incomeper Unit

Return on Unitholders’Equity (ROE)

Ordinary Income toTotal Assets

Ordinary Income toOperating Revenue

Yen％％％

Fiscal period ended
September 30, 2016

2,153

2.4

1.1

32.8

Fiscal period ended
March 31, 2016

2,171

2.4

1.1

33.8

(2) Distributions
Distributionper Unit
(excluding
Distribution in
Excess ofEarnings)
Fiscal period ended
September 30, 2016

Total Distributions(excludingDistribution in
Excess of Earnings)

Distribution in
Excess ofEarnings per Unit

TotalDistributions in
Excess ofEarnings

Yen

Million yen

Yen

Million yen％％

2,145

2,183

0099.6

2.4

Distribution
Ratio toNet Assets

Payout Ratio

Fiscal period ended
2,125
2,163
0097.82.4
March 31, 2016
Note 1: Distribution per unit for the periods ended March 31, 2016 and September 30, 2016 are calculated based on the amount of unappropriatedretained earnings less the amount of reserve for reduction entry of 47 million yen and 8 million yen respectively, divided by the number ofinvestment units issued as of the end of each fiscal period.
Note 2: 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 the English translation,
the Japanese version shall prevail.

(3) Financial Position
Total Assets

Net Assets

Unitholders’ Equity Ratio

Net Assets per Unit

Million yen

Million yen%Yen

Fiscal period ended
September 30, 2016

203,257

91,292

44.9

89,668

Fiscal period endedMarch 31, 2016

198,290

91,26346.0

89,639(4) Cash Flow Position
Cash Flows fromOperating Activities

Cash Flows from
Investing Activities

Cash and Cash
Equivalents at the End ofthe Fiscal Period

Cash Flows from
Financing Activities

Million yen

Million yen

Million yen

Million yen

Fiscal period ended
September 30, 2016

5,226

(7,498)

2,837

9,009

Fiscal period ended
March 31, 2016

11,924(12,530)

939

8,444

2. Forecast of Operating Results for the Fiscal Period ending March 31, 2017 (October 1, 2016 to March 31, 2017)
and September 30, 2017 (April 1, 2017 to September 30, 2017)*Percentages indicate changes over the previous fiscal period.

OperatingRevenue

Fiscal period ending
March 31, 2017

Operating Income

OrdinaryIncomeNet
IncomeDistributionper Unit
(excluding
Distribution in
Excess of Earnings)

Distribution in
Excess ofEarnings per Unit

Million yen％*

Million yen％*

Million yen％*

Million yen％*

Yen

Yen

6,857

2.5

2,975

8.6

2,412

10.0

2,410

9.9

2,1800Fiscal period ending
6,845(0.2)
2,948(0.9)
2,401(0.4)
2,399(0.4)
2,1700
September 30, 2017
Reference: Estimated net income per unit for the fiscal period ending March 31, 2017: 2,204 yen; and for the fiscal period ending September 30, 2017:
2,170 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.