June 13, 2017

Financial Report for the Fiscal Period Ended April 30, 2017(For the Reporting Period from November 1, 2016 to April 30, 2017)
Name of REIT issuer:

Sekisui House Reit, Inc. (“SHR”)

Stock exchange listing:
Securities code:
URL:
Representative:

Tokyo Stock Exchange3309
http://www.sekisuihouse-reit.co.jp/en/
Junichi Inoue, Executive Director

Asset management company:
Representative:
Inquiries:

Sekisui House Investment Advisors, Ltd.
Junichi Inoue, President & Representative Director
Atsuhiro Kida, Director & General Manager, Management Division
TEL: +81-3-6447-4870

Scheduled date to file securities report:
Scheduled date to commence distribution payment:
Preparation of supplementary material on financial report
Holding of financial report presentation meeting:

July 28, 2017
July 21, 2017
Yes
Yes (for institutional investors and analysts)(Amounts truncated to the nearest million yen)

1. Summary of financial results for the fiscal period ended April 30, 2017
(November 1, 2016 – April 30, 2017)(1) Operating results(Percentages show changes from the previous period)
Operating Income
Ordinary Income
Net Income

Operating Revenue
Fiscal period endedApril 30, 2017October 31, 2016

Millions of yen% Millions of yen

4,144
4,059

2.1
17.1

Net Income per Unit

2,704
2,664

% Millions of yen

1.5
17.0

2.6
18.0

Ordinary Income toTotal Assets

Return on Equity

Yen

Fiscal period endedApril 30, 2017
October 31, 2016

% Millions of yen

2,381
2,321%

2,663
2,634

2,380
2,320%

2.6
18.0

Ordinary Income toOperating Revenue
%

2.3
2.4%

1.3
1.3

57.5
57.2(Note) Net income per unit is calculated by dividing net income by the day-weighted average number of investment units
issued and outstanding during the period.

(2) Distributions
Distributions
per Unit

TotalDistributions

Distributions in
TotalDistributions
Excess ofDistributions in
Payout Ratio to Net Assets(excluding(excludingEarnings
Excess ofDistributions inDistributions in
per Unit
Earnings
Excess of Earnings) Excess of Earnings)
Fiscal period endedApril 30, 2017
October 31, 2016
(Note)

Yen

2,663
2,596

Millions of yen

2,380
2,320

Yen

00

Millions of yen

00%

100.0
100.0%

2.3
2.3

The payout ratio of fiscal period ended October 31,2016 was calculated by the following formula because thenumber of investment units changed during the period due to issuances of new investment units during the period.
Payout ratio = Total distributions (excluding distributions in excess of earnings) / Net income × 100

This is an English translation of summarized financial report translated for informational purposes only. If there
is any discrepancy between the Japanese version and the English translation, the Japanese version shall prevail.

-1-(3) Financial position
Total Assets

Net Assets

Equity Ratio

Net Assets per Unit

Millions of yen

Millions of yen

189,627
189,257

102,421102,36154.0
54.1114,565
114,498

Net Cash
Provided by (Used in)Operating Activities

Net Cash
Provided by (Used in)Investing Activities

Net Cash
Provided by (Used in)
Financing Activities

Cash and Cash
Equivalents
at End of Period

Millions of yen

Millions of yen

Millions of yen

Millions of yen

3,822
2,364

(66)
(25,589)(2,321)
19,47011,777
10,343As ofApril 30, 2017
October 31, 2016

%Yen

(4) Cash flows

Fiscal period endedApril 30, 2017
October 31, 2016

2. Forecasts of performance for the fiscal period ending October 31, 2017 (May 1, 2017 – October 31,2017) and the fiscal period ending April 30, 2018 (November 1, 2017 – April 30, 2018)

Operating
Revenue(Percentages show changes from the previous period)
Distributions
per Unit Distributions
in Excess of(excludingOrdinary Income Net Income
Distributions in Earnings per
Excess ofUnit

OperatingIncomeEarnings)

Fiscal period ending
October 31, 2017
April 30, 2018

Millionsof yen

4,581
4,652%

10.5
1.5

Millionsof yen2,979
2,994%

10.2
0.5

Millionsof yen2,617
2,617%

9.9
0.0

Millionsof yen2,616
2,616%

9.90.0

Yen

2,700
2,700

Yen00(Reference) Forecasted net income per unit (Forecasted net income / Forecasted number of investment units at end of period)
For the fiscal period ending October 31, 2017:
2,700 yen
For the fiscal period ending April 30, 2018:
2,700 yen

* Other(1) Changes in accounting policies, changes in accounting estimates, and retrospective restatementa. Changes in accounting policies due to revisions to accounting standards and other regulations: Noneb. Changes in accounting policies due to reasons other than a. above:Nonec. Changes in accounting estimates:
None
d. Retrospective restatement:
None(2) Number of investment units issued
a. Number of investment units issued at end of period (including treasury investment units)
As of April 30, 2017:894,000 units
As of October 31, 2016:
894,000 units
b. Number of treasury investment units at end of period
As of April 30, 2017:
None
As of October 31, 2016:
None* Status of audit procedures• As of the time of disclosure of this financial report, audit procedures for the financial statements
pursuant to the Financial Instruments and Exchange Act of Japan are not yet completed.
This is an English translation of summarized financial report translated for informational purposes only. If there
is any discrepancy between the Japanese version and the English translation, the Japanese version shall prevail.

-2-* Remarks on appropriate use of forecasts of performance and other special notes• Forward-looking statements presented in this financial report, including forecasts of performance, arebased on information currently available to SHR and on certain assumptions it deems to be reasonable.
As such, actual operating and other results may differ materially from these forecasts as a consequenceof numerous factors. These forecasts do not guarantee the distribution amount.
• At a meeting of the board of directors held on May 9, 2017, SHR passed a resolution to carry out
issuances of new investment units through public offering and by way of third-party allocation.
Payment for the issuance of new investment units through public offering was completed on May 24,
2017 and payment for the issuance of new investment units by way of third-party allocation wascompleted on June 12, 2017.
The above “2. Forecasts of performance for the fiscal period ending October 31, 2017 (May 1, 2017 –October 31, 2017) and the fiscal period ending April 30, 2018 (November 1, 2017 – April 30, 2018)”
are based on the assumption of 969,000 units, comprising total 894,000 units issued and outstanding asof April 30, 2017 with the addition of the 71,400 units issued and outstanding through public offeringand the 3,600 units issued and outstanding by way of third-party allocation.

This is an English translation of summarized financial report translated for informational purposes only. If there
is any discrepancy between the Japanese version and the English translation, the Japanese version shall prevail.

-3-