March 10, 2023
For Translation Purpose Only
For Immediate Release
Japan Prime Realty Investment Corporation
Yoshihiro Jozaki, Executive Officer(Securities Code: 8955)
Asset Management Company:
Tokyo Realty Investment Management, Inc.
Yoshihiro Jozaki, President and CEO
Inquiries: Yoshinaga Nomura, Director and General
Manager, Finance and Administration Division and CFO(TEL: +81-3-3516-1591)(Corrections) Notice Concerning Partial Corrections to “Financial Report for the 42nd Fiscal
Period Results” and “Forty-Second Fiscal Period Reporting for Financial Results &Management Status (Asset Management Report)”
Japan Prime Realty Investment Corporation (JPR) hereby announces that it has corrected part of the contents of the“Financial Report for the 42nd Fiscal Period Results” released as of February 17, 2023 and “Forty-Second Fiscal Period
Reporting for Financial Results & Management Status (Asset Management Report)” in Japanese only dispatched as ofMarch 10, 2023, as follows.
With change of the occupancy rate and leased floor space for Shinjuku Square Tower as of the end of the 42nd fiscal
period, the occupancy rate and total leased floor space for the entire portfolio ,etc at the end of the FP are corrected.
Please note that the corrections are underlined in the documents.
Details
1. Contents of corrections in “Financial Report for the 42nd Fiscal Period Results”(1) Page 4 > 1. Management Status > 1) Overview of Fiscal Period under Review > c) Portfolio Management Status >Operational Management of Portfolio<Before correction>
In the office property leasing market in the 42nd fiscal period, the upward trend in the vacancy rate and the downward
trend in rent levels appeared to take a temporary pause, given the impact of COVID-19 being tamed. Nevertheless, thesituation demands that close attention be continuously paid. Under such circumstances, JPR endeavored to attract new
tenants through strategic leasing activities and enhance the satisfaction of existing tenants by maintaining close cooperation
with property management companies and brokers, with an aim to secure stable earnings across the entire portfolio as wellas its occupancy rate. As a result of these efforts, the occupancy rate at the end of the 42nd fiscal period was kept at a highlevel, standing at 97.5% to remain the same as the end of the previous fiscal period.
(The rest is omitted.)<After correction>
In the office property leasing market in the 42nd fiscal period, the upward trend in the vacancy rate and the downward
trend in rent levels appeared to take a temporary pause, given the impact of COVID-19 being tamed. Nevertheless, thesituation demands that close attention be continuously paid. Under such circumstances, JPR endeavored to attract new
tenants through strategic leasing activities and enhance the satisfaction of existing tenants by maintaining close cooperation
with property management companies and brokers, with an aim to secure stable earnings across the entire portfolio as wellas its occupancy rate. As a result of these efforts, the occupancy rate at the end of the 42nd fiscal period was kept at a highlevel, rising 0.1 percentage point from the end of the previous fiscal period to 97.6%.
(The rest is omitted.)1(2) Page 32 > 3. Reference Information > (5) Information Concerning Tenants > 1) Overview of Lease Status by JPR asa Whole<Before correction>
No. of Properties

Total No. of Tenants

Total Leasable Floor SpaceOccupancy Rate

494,503.72 m2

97.5%(Omitted)
December 31, 2022

65

1,180(Note) Occupancy rates have been rounded to the first decimal place.
Furthermore, the following table shows the total number of tenants, total leased floor space and total leasable floor space
as of the end of the 42nd fiscal period, as well as the total rental income for the 42nd fiscal period.
Total Number of Tenants

1,180

Total Leased Floor Space482,379.10 m2

Total Leasable Floor Space494,503.72 m2

Total Rental Revenues

17,392,648 thousand yen<After correction>
No. of Properties

Total No. of Tenants

Total Leasable Floor Space

Occupancy Rate

494,503.72 m2

97.6%(Omitted)
December 31, 2022

65

1,180(Note) Occupancy rates have been rounded to the first decimal place.
Furthermore, the following table shows the total number of tenants, total leased floor space and total leasable floor space
as of the end of the 42nd fiscal period, as well as the total rental income for the 42nd fiscal period.
Total Number of Tenants

1,180Total Leased Floor Space482,397.00 m2

Total Leasable Floor Space494,503.72 m2

Total Rental Revenues

17,392,648 thousand yen(3) Pages 33 and 34 > 3. Reference Information > (5) Information Concerning Tenants > 2) Overview of Lease Status for
Respective Properties<Before correction>
42nd Fiscal Period (July 1, 2022 – December 31, 2022)
Information on Period End Floor Space, Etc.
AreaType

Property Name

Total
Total
Leasable
LeasedFloor Space Floor Space(m2)(m2)

No. ofTenants(Note 1)

Rental Revenues

Occupancy
Rate(%)(thousandsof yen)

Ratio(%)

2691.4

405,573

2.3

1,18097.5

17,392,648

100.0(Omitted)
Central
Office Shinjuku Square Tower
Tokyo

19,266.47

17,603.87(Omitted)
Total

494,503.72 482,379.10(The rest is omitted.)2

<After correction>
42nd Fiscal Period (July 1, 2022 – December 31, 2022)
Information on Period End Floor Space, Etc.
Area

Type

Property Name

Total
Total
Leasable
LeasedFloor Space Floor Space
(m2)
(m2)

No. ofTenants(Note 1)

Rental Revenues

Occupancy
Rate(%)(thousandsof yen)

Ratio(%)

2691.5405,573

2.3

1,18097.617,392,648

100.0(Omitted)
Central
Office Shinjuku Square Tower
Tokyo

19,266.47

17,621.77(Omitted)
Total

494,503.72 482,397.00(The rest is omitted.)

2. Contents of corrections in “Forty-Second Fiscal Period Reporting for Financial Results & Management Status (AssetManagement Report)”* The report posted on JPR’s website reflects corrections below.
(1) Page 23 > 1. Overview of Asset Management > (1) Trends in Operating Results and Other Management Data
<Before correction>
Fiscal PeriodUnit

Occupancy Rate%

38th Fiscal
39th Fiscal
40th Fiscal
41st Fiscal42nd Fiscal
PeriodPeriodPeriodPeriodPeriod(Jul. 1, 2020 ‒ (Jan. 1, 2021 ‒ (Jul. 1, 2021 ‒ (Jan. 1, 2022 ‒ (Jul. 1, 2022 ‒Dec. 31, 2020) Jun. 30, 2021) Dec. 31, 2021) Jun. 30, 2022) Dec. 31, 2022)(Omitted)
99.3
98.1
97.3
97.5
97.5
(The rest is omitted.)<After correction>
Fiscal Period

Unit

Occupancy Rate%

38th Fiscal
39th Fiscal
40th Fiscal
41st Fiscal
42nd Fiscal
PeriodPeriodPeriodPeriodPeriod(Jul. 1, 2020 ‒ (Jan. 1, 2021 ‒ (Jul. 1, 2021 ‒ (Jan. 1, 2022 ‒ (Jul. 1, 2022 ‒Dec. 31, 2020) Jun. 30, 2021) Dec. 31, 2021) Jun. 30, 2022) Dec. 31, 2022)(Omitted)
99.3
98.1
97.3
97.5
97.6
(The rest is omitted.)(2) Page 24 > 1. Overview of Asset Management > (2) Progress in Asset Management for the Fiscal Period >③Management Status<Before correction>
Operational Management of Portfolio
In the office property leasing market in the 42nd fiscal period, the upward trend in the vacancy rate and the downward
trend in rent levels appeared to take a temporary pause, given the impact of COVID-19 being tamed. Nevertheless, thesituation demands that close attention be continuously paid. Under such circumstances, JPR endeavored to attract new
tenants through strategic leasing activities and enhance the satisfaction of existing tenants by maintaining close cooperation
with property management companies and brokers, with an aim to secure stable earnings across the entire portfolio as wellas its occupancy rate. As a result of these efforts, the occupancy rate at the end of the 42nd fiscal period was kept at a highlevel, standing at 97.5% to remain the same as the end of the previous fiscal period.
(The rest is omitted.)3

<After correction>
Operational Management of Portfolio
In the office property leasing market in the 42nd fiscal period, the upward trend in the vacancy rate and the downward
trend in rent levels appeared to take a temporary pause, given the impact of COVID-19 being tamed. Nevertheless, thesituation demands that close attention be continuously paid. Under such circumstances, JPR endeavored to attract newtenants through strategic leasing activities and enhance the satisfaction of existing tenants by maintaining close cooperation
with property management companies and brokers, with an aim to secure stable earnings across the entire portfolio as wellas its occupancy rate. As a result of these efforts, the occupancy rate at the end of the 42nd fiscal period was kept at a highlevel, rising 0.1 percentage point from the end of the previous fiscal period to 97.6%.
(The rest is omitted.)(3) Page 30 > 3. Status of JPR’s Assets Under Management > (2) Major Assets Owned by JPR<Before correction>
The following is an overview of the major assets (ten largest properties by book value at end of period) owned by JPR asof the end of the 42nd fiscal period.
Leasable
Floor Space(m2)Leased FloorSpace(m2)Occupancy
Rate(%)

Rate ofMonthly
Contracted
Rent at Endof Period

Property NameBook Value(thousands ofyen)

Shinjuku Square Tower

12,836,939(Omitted)
19,266.47
17,603.87

91.4

2.6 OfficeTotal

190,966,982

125,563.25

95.1

38.3

119,355.95

Asset Class(The rest is omitted.)<After correction>
The following is an overview of the major assets (ten largest properties by book value at end of period) owned by JPR asof the end of the 42nd fiscal period.

Property NameBook Value(thousands ofyen)

Leasable
Floor Space(m2)Leased Floor
Space(m2)Occupancy
Rate(%)

Rate ofMonthly
Contracted
Rent at Endof Period

91.5

2.6

95.1

38.3

Shinjuku Square Tower

12,836,939(Omitted)
19,266.47
17,621.77

Total

190,966,982

125,563.25

119,373.85

Asset ClassOffice(The rest is omitted.)4(4) Pages 33 and 34 > 3. Status of JPR’s Assets Under Management > (3) Itemized Portfolio Assets<Before correction>
The following table provides changes in rental business results for each of JPR’s real estate properties and beneficiaryinterests in real estate.
41st Fiscal Period (Jan. 1, 2022 ‒ Jun. 30, 2022)

Area Type

Property Name

RentalRevenues
throughout
Period(thousandsof yen)

Number ofTenants at
Period End(Note 1)

Occupancy
Rate at
Period End(%)

2494.6408,240

1,171

97.5

17,019,663

42nd Fiscal Period (Jul. 1, 2022 ‒ Dec. 31, 2022)

Ratio toTotal
RentalRevenues(%)

Number ofTenants at
Period End(Note 1)

Occupancy
Rate at
Period End(%)

RentalRevenues
throughout
Period(thousandsof yen)

Ratio toTotal
RentalRevenues
(%)

2.4

26

91.4

405,573

2.3

100.0

1,180

97.5

17,392,648

100.0(Omitted)
Shinjuku Square Tower(Omitted)
Total(The rest is omitted.)<After correction>
The following table provides changes in rental business results for each of JPR’s real estate properties and beneficiaryinterests in real estate.
41st Fiscal Period (Jan. 1, 2022 ‒ Jun. 30, 2022)

Area TypeProperty Name

Number of
Tenants at
Period End(Note 1)

Occupancy
Rate at
Period End(%)

RentalRevenues
throughout
Period(thousandsof yen)

42nd Fiscal Period (Jul. 1, 2022 ‒ Dec. 31, 2022)

Ratio toTotal
RentalRevenues(%)

Number of
Tenants at
Period End(Note 1)

Occupancy
Rate at
Period End(%)

RentalRevenues
throughout
Period(thousandsof yen)

Ratio toTotal
RentalRevenues
(%)

2.4

26

91.5

405,573

2.3

100.0

1,180

97.6

17,392,648

100.0(Omitted)
Shinjuku Square Tower

2494.6408,240(Omitted)

Total

1,171

97.5

17,019,663(The rest is omitted.)5