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4 Jul 2012 13:42
4 July 2012
Japan Residential Investment Company Limited (the "Company")
Investment Property Valuation
Japan Residential Investment Company Limited (AIM: JRIC) is a closed-ended Guernsey registered company established to make and hold investments in residential property in Japan. The Company, its subsidiaries and entities in which it has a beneficial interest are referred to collectively as "the Fund".
The Fund portfolio was externally valued at ¥31,114 million (£258 million) as at 31 May 2012, representing an incremental increase of ¥42 million (£348,000) or 0.1% over values on the same date one year prior. This represents the second consecutive YoY increase in portfolio value since November 2011 on a like-for-like basis. Portfolio value gained ¥37 million (£307,000) for the six months ending May 2012. The unleveraged net yield of the portfolio (appraised net operating income over value) ended at 5.90% as at 31 May 2012, down from 5.98% at the same time one year prior.
Portfolio valuation trend by region for year ending May (Percentage):
H1 2011 | H2 2011 | H1 2012 | |
Tokyo | -1.4% | 0.8% | 0.5% |
Osaka | -2.8% | -0.1% | 0.4% |
Nagoya | -2.5% | -1.5% | -1.5% |
Other | -0.3% | -0.3% | 0.0% |
Total | -1.8% | 0.1% | 0.1% |
Note: Sterling values are based on the exchange rate of ¥120.642/£1 as at 31 May 2012.
Enquiries:
KK Halifax Management Limited Manager
| Edward Barrow | +65 6593 8904 |
KK Halifax Asset Management Investment Adviser
| Alec Menikoff | +81 (0)3 5563 8771 |
Smith & Williamson Corporate Finance Limited Nominated Adviser
| Azhic Basirov David Jones | +44 (0)20 7131 4000 |
Fairfax I.S. PLC Joint Broker
| John Korwin-Szymanowski James King | +44 (0)20 7598 5368 |
Westhouse Securities Limited Joint Broker
| Alastair Moreton Hannah Young
| +44 (0)20 7601 6100 |
JRIC.L (JRIC)
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