December 15, 2011

Nomura Office Fund Announces Financial Results for the Fiscal Period Ended
October 31, 2011
TOKYO--(BUSINESSWIRE)--Nomura
RealEstateOffice
Fund,Inc.
(NOF)(URL:
http://www.nre-of.co.jp/english/) (TOKYO:8959), a Japanese office building real estate investment
trust (J-REIT), announces financial results for the fiscal period from May 1, 2011 to October 31, 2011.
(Omit fractions under one million yen)

(1) Operating Results (Ratio of increases and decreases in comparison with the previous period)
Operating Revenues
Period Ended

Operating Profits

Millions of yen(%)

Millions of yen

October 31, 2011

13,637(4.0)

April 30, 201113,117(-1.8)

6,219
6,144

Net Incomeper Unit

Net Income
Period Ended

Millions of yen(%)

Current Profits(%)

Millions of yen

4,628
4,503

(1.2)
(-1.3)

ROE(Return onEquity)yen(%)

(2.8)
(0.5)

ROA
(Return onAssets)%

Current Profits
to Operating
Revenues Ratio%%

October 31, 2011

4,627

(4.5)

15,164

2.4

1.2

33.9

April 30, 2011

4,428(-1.1)

14,512

2.3

1.1

34.3

Total CashDistribution

Distributions in
Excess of Net
Income per Unit

Distributions
in Excess ofNet Incomeyen

Millions of yen(2) Distributions
Cash
Distributions
per Unit
Period Endedyen

Millions of yen

PayoutRatio(Note)

Distributions
to Net Asset
Ratio%%

October 31, 2011

14,837

4,5270-97.8

2.4

April 30, 2011

14,512

4,427

0-

99.9

2.3

(Note) Payout Ratio is rounded off to the first decimal place.

(3) Financial Position
Total Assets
Period Ended

Net Assets

Millions of yen

Capital Adequacy Ratio

Millions of yen

October 31, 2011

400,390

190,082

47.5

April 30, 2011

404,069

189,883

47.0(Reference) Owned Capital: As of October 31, 2011

Net Assets per Unit%

JPY190,082mln As of April 30, 2011

yen

622,970
622,318
JPY189,883mln(4) Cash Flows
Cash Flows fromOperatingActivities
Period Ended

Millions of yen

Cash Flows from
Investing Activities
Millions of yen

Cash Flows from
Financing Activities
Millions of yen

Cash and Cash
Equivalents
at End of Period
Millions of yen

October 31, 2011

13,789-1,502-7,67936,317

April 30, 2011

9,039

-208

-7,87431,709－1－Forecasts of Financial Results for the Fiscal Period Ending April 30, 2012 (From November 1,
2011 to April 30, 2012)
OperatingRevenues

Operating Profits

Current Profits

Period Ending

Millions of yen (%)

Millions of yen (%)

Millions of yen (%) Millions of yen (%)

April 30, 2012

12,423 (-8.9)

5,389 (-13.3)

3,784 (-18.2)

Net Income

3,783 (-18.2)

Cash
Distributions
per Unit

Distributions
in Excess ofNet Income
per Unit

yenyen12,4000(Reference) Forecast Net Income per Unit: JPY12,400Others(1) Changes in Accounting Policies
a. Changes accompanying revisions in accounting standards
b. Changes excluding a. above

None.
None.

(2) Number of investment units issueda. The number of investment units issued (including treasury investment units)
As of October 31, 2011
305,123
As of April 30, 2011
305,123b. The number of treasury investment units
As of October 31, 2011
0As of April 30, 20110(Note) Net Income per Unit is figured out by dividing net income by the weighted average number of investment
units.
The forecasts above are based on information currently available to NOF and on a certain condition deemed to bereasonable. The actual results may vary due to many factors. Accordingly, NOF does not guarantee the cash
distribution amount identified above.
The information above is excerpt of and translated from Brief Report on Closing of Accounting Report (“KessanTanshin”) in Japanese released on December 15, 2011. To confirm complete information, please refer to theoriginal.
(Japanese) http://www.nre-of.co.jp/site/file/tmp-mMt5u.pdf< About NOF >URL: http://www.nre-of.co.jp/english/

NOMURA OFFICE FUND, INC. (NOF) is listed on the Tokyo Stock Exchange (J-REIT) with the securities code number
8959, managed by Nomura Real Estate Asset Management Co., Ltd. (NREAM) within the Nomura Real Estate Group.
The NOF Portfolio consists of office buildings located in the three major metropolitan areas andgovernment-designated cities, etc.
Executive Director: Yuichi Maruko*Asset Management Company (AM Company): Nomura Real Estate Asset Management Co., Ltd.

*President and Chief Executive Officer of the AM Company: Yoji Kurihara
Contacts
Nomura Real Estate Asset Management Co., Ltd.
Kenji Tsuga, +81-3-3365-0507
Chief Investment Officer, NOF－2－