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Cash Distributions

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Distribution per Unit (Actual)

7th Fiscal Period Ending April 2018 Distribution per unit
(excluding distributions in excess of earnings)
Distributions in excess of earnings per unit Distribution per unit
(including distributions in excess of earnings)
2,705 yen - 2,705 yen

The calculation period is six months from November 1, 2017 to April 30, 2018.
Unitholders recorded on the unitholders registry as of April 30, 2018 are eligible to receive the cash distributions.
Furthermore, the final trading day on the Tokyo Stock Exchange for cash distribution eligibility is April 24, 2018.
The cash distributions for the 7th fiscal period has been paid from Jnly 20, 2018.

Distribution per Unit (Forecast)

8th Fiscal Period Ending October 2018 Distribution per unit
(excluding distributions in excess of earnings)
Distributions in excess of earnings per unit Distribution per unit
(including distributions in excess of earnings)
1,531 yen - 1,531 yen

The calculation period is six months from May 1, 2018 to October 31, 2018.
The above cash distribution forecast represents the figure calculated as of Jun 15, 2018 based on certain preconditions. The actual cash distribution amount may differ from the forecast due to acquisitions or sales of properties, the real estate market trends and changes in other conditions surrounding SHR, among other factors. Moreover, the above forecast is not a guarantee of the actual cash distribution payment.
Unitholders recorded on the unitholders registry as of October 31, 2018 are eligible to receive the cash distributions.
Furthermore, the final trading day on the Tokyo Stock Exchange for cash distribution eligibility is October 26, 2018.

SHR merged with SHI, effective May 1, 2018, and implemented a two-for-one split of investment units. The forecasts for the 8th fiscal period (ending October, 2018) and the 9th fiscal period (ending April, 2019) described below reflect the impact of the merger and the investment unit split.
9th Fiscal Period Ending April 2019 Distribution per unit
(excluding distributions in excess of earnings)
Distributions in excess of earnings per unit Distribution per unit
(including distributions in excess of earnings)
1,526 yen - 1,526 yen

The calculation period is six months from November 1, 2018 to April 30, 2019.
The above cash distribution forecast represents the figure calculated as of Jun 15, 2018 based on certain preconditions. The actual cash distribution amount may differ from the forecast due to acquisitions or sales of properties, the real estate market trends and changes in other conditions surrounding SHR, among other factors. Moreover, the above forecast is not a guarantee of the actual cash distribution payment.
Unitholders recorded on the unitholders registry as of April 30, 2019 are eligible to receive the cash distributions.
Furthermore, the final trading day on the Tokyo Stock Exchange for cash distribution eligibility is April 24, 2019.

9th Fiscal Period Ending April 2019 Distribution per unit
(excluding distributions in excess of earnings)
Distributions in excess of earnings per unit Distribution per unit
(including distributions in excess of earnings)
1,496 yen - 1,496 yen

The calculation period is six months from November 1, 2018 to April 30, 2019.
The above cash distribution forecast represents the figure calculated as of January 24, 2018 based on certain preconditions. The actual cash distribution amount may differ from the forecast due to acquisitions or sales of properties, the real estate market trends and changes in other conditions surrounding SHR, among other factors. Moreover, the above forecast is not a guarantee of the actual cash distribution payment.
Unitholders recorded on the unitholders registry as of April 30, 2019 are eligible to receive the cash distributions.
Furthermore, the final trading day on the Tokyo Stock Exchange for cash distribution eligibility is April 24, 2019.

Forecasted Merger Consideration regarding the Final Fiscal Period of SHI

The following shows the forecasted merger consideration in lieu of cash distribution regarding the final fiscal period of SHI, the dissolving corporation as a result of the absorption-type merger, payable to unitholders who satisfy all the conditions described below.

Final Fiscal Period of SHI
25th Fiscal Period Ending April 2018
Merger consideration per unit : 2,764 yen


As a consequence of the merger with SHR, SHI changed its fiscal closing dates from March 31 and September 30 to April 30 and October 31 and its final fiscal period was seven months from October 1, 2017 until April 30, 2018.

Unitholders recorded on the unitholders registry of SHI as of April 30, 2018 are eligible to receive the merger consideration.
Investment units of SHI were delisted on April 25, 2018.

The merger consideration has been paid from July 20, 2018.

Changes in Cash Distribution per Unit

All period

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Changes in Cash Distribution per unit (All period)

(yen)
  • The accounting period for fiscal period ended April 2015 (1st FP) covers from September 8, 2014 to April 30, 2015 (235days). While the actual asset management period covers the 149days from December 3, 2014 to April 30, 2015.

(yen)
Apr. 2016 (3rd FP)
Actual
Oct. 2016 (4thFP)
Actual
Apr. 2017 (5th FP)
Actual
Oct. 2017 (6th FP)
Actual
Apr. 2018 (7th FP)
Actual
Oct. 2018 (8th FP)
Forecast
Apr. 2019 (9th FP)
Forecast

1,238 yen
(2,477 yen)
1,298 yen
(2,596 yen)
1,331 yen
(2,663 yen)
1,355 yen
(2,710 yen)
1,352 yen
(2,705 yen)
1,531 yen
1,526 yen
  • A two-for-one split for SHR's investment units was implemented on May 1, 2018. To account for the effect of the split, the amount of distribution per unit before the split is found by dividing by two and rounded down decimal places. Moreover, the actual amount of distribution per unit before the split is shown in parenthesis in the above table.

Distribution policy

SHR shall pay out distributions from earnings in excess of an amount equivalent to ninety hundredths (90/100) of its earnings available for distribution, as provided for in Article 67-15, Paragraph 1 of the Act on Special Measures Concerning Taxation, in principle.

Handling of cash distributions after the lapse of the statute of limitation

If a cash distribution has not been paid a full 3 years from the cash distribution payment date, such cash distribution cannot be paid according to SHR’s Articles of Incorporation. Please obtain your cash distribution as early as possible.

For any inquiry about the procedures for receiving cash distributions, please contact Stock Transfer Agency Department of Mizuho Trust & Banking Co., Ltd.
Stock Transfer Agency Department only in Japan, Mizuho Trust & Banking Co., Ltd.
Telephone: 0120-288-324 (Toll Free only in Japan)

 

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