Top Message
Hankyu Hanshin REIT is implementing measures toward continued growth and enhancement of distributions.
Toyoshige Okazaki
Executive Director,
Hankyu Hanshin REIT, Inc.
President and Representative Director,
Hankyu Hanshin REIT Asset Management, Inc.
Welcome to our website!
Firstly, I would like to extend my heartfelt gratitude for your continued support of our business.
Starting from the railway business of Hankyu Corporation and Hanshin Electric Railway Co., Ltd., the Hankyu Hanshin Holdings, Inc. Group (hereafter, the “sponsor group”), as the sponsor of Hankyu Hanshin REIT, Inc. (hereafter, “HHR”), has provided our customers with a wide range of services in such businesses as real estate and entertainment.
In the real estate business, we are engaged in the development and operation of offices and retail facilities, centered on the Osaka Umeda area, which represents the core area where we develop and own a lot of facilities along the railways.
HHR will continue its initiatives for sustainable growth by making the most of the planning and operation capabilities cultivated in the real estate business held by the sponsor group.
In the Kansai Region, one of HHR’s key investment focus areas, Japanese and foreign tourist demand, especially from inbound tourists, has recorded consistent and robust growth even after the closing of “EXPO 2025 Osaka, Kansai, Japan.” Furthermore, going-out demand has also shown a recovery trend after being significantly restricted during the COVID-19 pandemic.
Additionally, the decline of office vacancy rates and the increase in rent unit prices have continued, reflecting the trend of a shrinking supply of new offices due to the increase in construction costs and the rising need for location improvement for the purpose of active recruitment and improvement of the employment environment.
On the other hand, the social and economic environment surrounding HHR has been changing as observed in price increases of goods and services due to the progress of inflation.
Under these circumstances, HHR has achieved steady growth.
In the 41st fiscal period (June 1, 2025 to November 30, 2025), we acquired “Hankyu Hanshin Ueno Okachimachi Building,” using the proceeds from the sale of the remaining 20% quasi co-ownership of “Shiodome East Side Building” and concluded a properties agreement with “(Tentative Name) Sugi Pharmacy Daito Goryo Store (site)” (The acquisition is planned for March 2026). With these achievements, the strategic asset replacement initiated in March 2025 was completed.
With respect to the operation of the existing properties, our initiatives to increase profit have steadily borne fruit as a result of a rise of variable rent, reflecting the trend of growing tenant sales mostly from urban retail facilities, and the realization of upward rent revisions for some fixed-rent tenants.
As a result, the distribution per unit for the 41st fiscal period ended November 2025 was 3,389 yen, a 2.7% increase from the forecast (3,300 yen) announced on July 17, 2025.
The distributions per unit for the 42nd fiscal period ending May 2026 and the 43rd fiscal period ending November 2026 are expected to be 3,270 yen and 3,330 yen, respectively.
Going forward, we will concentrate our efforts on realizing external and internal growth, financial strategy and sustainability, pursuing an increase in distribution per unit and maximization of unitholder value.
Please visit our website for the 41sr fiscal period financial briefing video (Japanese only).
I look forward to your continued support and encouragement. Thank you.
January 2026