Translation
November 14, 2011

Sekisui House SI Investment Corporation
Financial Report for the Fiscal Period ended September 30, 2011

Head Office:Stock Exchange Listing:
URL:
Inquiries:

Tokyo
Tokyo Stock Exchange (code number 8973)
http://www.shsi-reit.co.jp/
Makoto Asamoto
Sekisui House SI Asset Management, Ltd. (Asset Management Company)
General Manager, Administration+81-3-5215-8973

Name:
Title:
TEL:

Planned date of submissionof the Securities Report:
Planned commencement date ofdistribution payment:

December 22, 2011
December 15, 2011
(Note: Figures rounded down to nearest million yen)

1. Performance for the Fiscal Period ended September 30, 2011 (April 1, 2011 to September 30, 2011)(1) Operating Results*Percentages indicate changes over the previous fiscal period.
Operating Revenue

Fiscal period ended
September 30, 2011
Fiscal period ended
March 31, 2011

Operating Income

Ordinary Income

Net Income

Million yen％*

Million yen％*

Million yen％*

Million yen％*

3,533

2.0

1,622

△2.0

1,156

1.1

1,155

2.6

3,462

3.8

1,655

5.0

1,144

19.6

1,126

20.0

Net Income

Return on Unitholders’

Ordinary Income onper Unit

Equity (ROE)

Total Assets

Fiscal period ended
September 30, 2011
Fiscal period ended
March 31, 2011

Ordinary Income on
Operating Revenue

Yen％％％

10,045

2.2

1.1

32.7

9,793

2.2

1.1

33.0

(2) Distributions

Fiscal period ended
September 30, 2011
Fiscal period ended
March 31, 2011

Total

Distribution inDistribution

Totalper Unit

Distributions

Distributions in

Excess ofEarnings per Unit

Excess ofDistribution
Payout Ratio

Ratio to
Net Assets

Earnings

YenMillion yen

Yen

Yen％％

10,045

1,155

00

100.0

2.2

9,793

1,126

00100.0

2.2

Note: The payout ratio is rounded down to the first decimal place.

1This translation is for informational purpose only. If there is any discrepancy between the Japanese version and theEnglish translation, the Japanese version shall prevail.

(3) Financial Position
Total Assets

Unitholders’ Equity toNet Assets

Net Assets per Unit

Total Assets

Million yen

Million yen%Yen

109,664

51,67947.1

449,112

107,352

51,65048.1

448,860

Fiscal period ended
September 30, 2011
Fiscal period ended
March 31, 2011

(4) Cash Flow Position
Cash and Cash

Cash Flows from

Cash Flows from

Cash Flows fromOperating Activities

Investing ActivitiesFinancing Activities

Equivalents at the End ofthe Period

Million yen

Million yen

Million yen

Million yen

1,821△2,481

1,173

5,593

1,913

△4,539

1,847

5,080

Fiscal period ended
September 30, 2011
Fiscal period ended
March 31, 2011

2. Forecast of Results for the Fiscal Period ending March 2012 (October 1, 2011 to March 31, 2012)*Percentages indicate changes over the previous fiscal period.
OperatingOperating

OrdinaryNet

Distribution

Revenue

IncomeIncomeIncomeper Unit

Million％*yen

Fiscal period ending
March 31, 2012

3,557

Million％*yen

0.7

1,615

Million％*yen

△0.4

1,168

Million

1,167

Excess ofEarnings per Unit％*Yen

Yen

1.0

10,1500

yen

1.1

Distribution inReference: Estimated net income per unit for the fiscal period ending March 31, 2012: 10,150yen

Explanation concerning the Proper Use of the Forecast of Results and Other Issues to be Noted
Descriptions with regard to future issues including the forecast of operating results are based on the current information
held by the Sekisui House SI Investment Corporation and certain assumptions deemed reasonable. The actual operating
results may materially differ from the forecast for various reasons. The forecast is not intended to assure the amount ofdistributions to investors.

2This translation is for informational purpose only. If there is any discrepancy between the Japanese version and theEnglish translation, the Japanese version shall prevail.