For Translation Purposes Only

Tenth Fiscal Period (June 1, 2011 to November 30, 2011) Financial Results
January 13, 2012For Immediate Release
Name: Nomura Real Estate Residential Fund, Inc.
Listed Stock Exchange: Tokyo Stock Exchange
Securities Code: 3240
Representative: Yoshinori Hirohata, Executive Director
URL: http://www.nre-rf.co.jp/english/
Asset Management Company: Nomura Real Estate Asset Management Co., Ltd.
Representative: Yoji Kurihara, President and Chief Executive Officer
Inquiries: Masatomi Natsume, NRF Chief Investment Officer
TEL: +81-3-3365-7729
Schedule Issue Date of Securities Report: February 28, 2012
Scheduled Commencement Date of Cash Distribution: February 17, 2012
(Figures below one million yen are omitted)

1. Status of Management and Assets during the Tenth Fiscal Period (ended November 30, 2011)(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

Nov. 30, 2011

4,445(–1.5)

2,098(–3.6)

1,479(–4.8)

1,477(–0.8)

May 31, 2011

4,510(–1.0)

2,177(–1.2)

1,553(–2.5)

1,465(–3.3)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)

%(%)

%%

Nov. 30, 2011

11,769

2.3

1.1

33.3

May 31, 2011

11,674

2.3

1.1

34.4

(2) Status of Distribution
Cash
Distribution
Per Unit
Fiscal Period ended

Yen

Total CashDistribution

Distributions in
Excess of Net
Income Per Unit

Millions of Yen

Distributions in
Excess of Net
IncomeYen

PayoutRatio

YenDistribution to
Net Asset Ratio%%

Nov. 30, 2011

11,770

1,477

00

100.0

2.3

May 31, 2011

11,674

1,46500

99.9

2.3(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

Nov. 30, 2011

140,152

63,27745.1

504,059

May 31, 2011

140,534

63,26545.0503,963

Cash Flow fromOperating Activities

Cash Flow from
Investment Activities

Cash Flow from
Financing Activities

Cash and Cash Equivalent
at Fiscal Period End(4) Status of Cash Flow
Fiscal Period ended

Millions of Yen

Millions of Yen

Millions of Yen

Millions of Yen

Nov. 30, 2011

2,247

–2,431–1,855

4,786

May 31, 2011

3,793

–1,138–1,6196,826

2. Forecast of Financial Results for the Eleventh Fiscal Period (ending May 31, 2012)
OperatingRevenue

Operating Income

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

May 31, 2012

5,186

(16.7)

2,488(Percentage is ratio of increase/decrease from the prior period)
Distributions inCash
Excess ofCurrent Profit
Net Income
DistributionNet Income
Per Unit
Per Unit(%) Millions of Yen (%) Millions of Yen(18.6)

1,815(22.7)

1,814(%)

Yen(22.8)

12,018

Yen0(Reference) Forecast for Net Income Per Unit (Eleventh Fiscal Period): 12,018 yen

3. Other(1) Changes in Accounting Policies, Accounting Estimate, and Retrospective Restatementa. Changes in accounting policies due to revisions in accounting standards: Noneb. Changes not mentioned in a. above: Nonec. Changes in accounting estimate: None
d. Retrospective restatement: None
(2) Number of Investment Units Issued
a. Number of investment units issued (including treasury investment units)
As of November 30, 2011:
125,535 units
As of May 31, 2011:
125,535 units
b. Number of treasury investment units
As of November 30, 2011:
0 units
As of May 31, 2011:
0 units(Note) Net Income Per Unit is calculated by dividing net income with the weighted average number of investment units.

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 today. To confirm complete information, please refer to the original.
[Japanese] Brief Report of Financial Results (Tenth Fiscal Period)