For Translation Purposes Only

Seventh Fiscal Period (December 1, 2009 to May 31, 2010) Financial Results
July 15, 2010
For Immediate Release
Name: Nomura Real Estate Residential Fund, Inc.
Listed Stock Exchange: Tokyo Stock Exchange
Securities Code: 3240
Representative: Nobuyuki Hamada, Representative and Executive Director
URL: http://www.nre-rf.co.jp/english/
Asset Management Company: Nomura Real Estate Asset Management Co., Ltd.
Representative: Atsushi Ogata, President and Chief Executive Officer
Inquiries: Masatomi Natsume, Director and Head of Residence Management Division
TEL: +81-3-3365-7729
Schedule Issue Date of Securities Report: August 30, 2010
Scheduled Commencement Date of Cash Distribution: August 18, 2010
(Figures below one million yen are omitted)

1. Status of Management and Assets during the Seventh Fiscal Period (ended May 31, 2010)(1) Status of Management(Percentage is ratio of increase/decrease from the prior period)
Operating Revenue

Operating Income(%)

Millions of Yen

Current Profit

Millions of Yen

May 31, 2010

4,323(–9.2)

2,037(–5.8)

1,387(–5.1)

1,386(–5.1)

Nov. 30, 2009

3,959(–1.7)

1,926(–1.2)

1,320(–2.0)

1,319(–2.0)Net Income Per Unit
Fiscal Period ended(%)

Millions of Yen

Net Income

Fiscal Period ended

ROE (Return on Equity)

Yen(%)

Millions of Yen

Current Profits to
Operating Revenues Ratio

ROA (Return on Assets)

%(%)

%%

May 31, 2010

11,141

2.2

1.0

32.1

Nov. 30, 2009

13,631

2.4

1.0

33.3

(2) Status of Distribution

Fiscal Period ended

Cash
Distribution
Per Unit

Yen

Total CashDistribution
Millions of Yen

Distributions in
Excess of Net
Income Per Unit

Distributions in
Excess of Net
IncomePayoutRatio

YenYenDistribution to
Net Asset Ratio%%

May 31, 2010

11,046

1,386

00

100.0

2.1

Nov. 30, 2009

13,631

1,319

0099.92.4(Note) Regarding the Payout Ratio, figures below the first decimal are omitted.

(3) Financial Position
Total Asset
Fiscal Period ended

Millions of Yen

Net Asset

Capital Adequacy Ratio

Millions of Yen

Net Asset Per Unit%Yen

May 31, 2010

138,755

63,18645.5

503,335

Nov. 30, 2009

128,433

55,08842.9569,306

Cash Flow fromOperating Activities

Cash Flow from
Investment Activities

Cash Flow from
Financing Activities

Cash and Cash Equivalentat Fiscal Period End

May 31, 2010

2,216

–10,410

8,753

5,344

Nov. 30, 2009

2,110

491

–3,361

4,785(4) Status of Cash Flow
Fiscal Period ended

Millions of Yen

Millions of Yen

Millions of Yen

Millions of Yen

2. Forecast of Financial Results for the Eighth Fiscal Period (ending November 30, 2010)
OperatingRevenue

Operating Income

Fiscal Period ending Millions of Yen (%) Millions of Yen

Nov. 30, 2010

4,385

(1.4)

2,115

(Percentage is ratio of increase/decrease from the prior period)
Distributions inCash
Excess ofCurrent Profit
Net Income
Distribution
Net Income
Per UnitPer Unit(%) Millions of Yen (%) Millions of Yen(%)

Yen(3.8)(5.9)

11,7001,470(5.9)

1,468

Yen0(Reference) Forecast for Net Income Per Unit: 11,700 yen

3. Other(1) Changes in Accounting Policies
a. Changes accounting standards due to revisions: Noneb. Changes not mentioned in a. above: None
(2) Number of Investment Units Issued
a. Number of investment units issued (including treasury investment units)
As of May 31, 2010:
125,535 units
As of November 30, 2009:
196,765 units
b. Number of treasury investment units
As of May 31, 2010:
0 units
As of November 30, 2009:
0 units(Note) Net Income Per Unit is calculated by dividing net income with the weighted average number of investment units.

(3) ROE and ROA
The Seventh Fiscal Period ROE and ROA use the average equity capital of weighted days and average
total assets of weighted months in the calculations as equity capital and assets, respectively, as newinvestment units were offered during the Seventh Fiscal Period.

The forecasts above are based on information currently available to NRF and deemed to be reasonable undercertain conditions, and the actual results may vary due to many factors. Also, NRF does not guarantee the cash
distribution amount stated above.
This information is an excerpt, which has been translated, from the Brief Report of Financial Results (“KessanTanshin”) in Japanese, released on July 15, 2010. To confirm complete information, please refer to the original.
[Japanese] Brief Report of Financial Results (Seventh Fiscal Period)