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Unitholders’ Capital
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Unitholders’ Capital

As of June 14, 2024

Unitholders’ Capital 161,287,627,756 yen
Total Number of Authorized Investment Units 20,000,000 units
Total Number of Investment Units Issued and Outstanding 4,381,482 units

The table below shows the changes in unitholders’ capital and the total number of investment units issued and outstanding of SHR since its establishment.

Date Event Unitholders’ Capital
(million yen)
Total Number of Investment Units
Issued and Outstanding (units)
Increase Balance Increase Balance
Sep. 8, 2014 Private establishment(Note 1) 200 200 2,000 2,000
Dec. 2, 2014 Public offering (Note 2) 63,690 63,890 600,000 602,000
Dec. 24, 2014 Third-party allotment(Note 3) 3,184 67,074 30,000 632,000
May 19, 2015 Public offering (Note 4) 19,673 86,748 154,200 786,200
Jun. 12, 2015 Third-party allotment(Note 5) 995 87,743 7,800 794,000
May 24, 2016 Public offering (Note 6) 11,706 99,450 95,200 889,200
Jun. 21, 2016 Third-party allotment(Note 7) 590 100,040 4,800 894,000
May 24, 2017 Public offering (Note 8) 9,661 109,702 71,400 965,400
Jun. 12, 2017 Third-party allotment(Note 9) 487 110,189 3,600 969,000
May 1, 2018 Split and allotment of investment units associated with merger (Note 10) - 110,189 2,793,091 3,762,091
Jun. 10, 2019 Public offering (Note 11) 37,162 147,351 501,500 4,263,591
Jul. 9, 2019 Third-party allotment(Note 12) 1,858 149,210 25,075 4,288,666
Nov. 1, 2021 Public offering(Note 13) 11,652 160,862 137,500 4,426,166
Nov. 29, 2021 Third-party allotment(Note 14) 420 161,283 4,967 4,431,133
Oct. 17, 2022 Cancellation(Note 15) - 161,283 (49,651) 4,381,482
Dec. 21, 2023 Reversal of allowance for temporary difference adjustments(Note 16) 4 161,287 - 4,381,482
  • New investment units were issued at an issue price of 100,000 yen per unit upon the establishment of SHR.
  • New investment units were issued at an issue price of 110,000 yen per unit (issue amount of 106,150 yen per unit) through a public offering.
  • New investment units were issued at an issue amount of 106,150 yen by way of third-party allotment.
  • New investment units were issued at an issue price of 131,917 yen per unit (issue amount of 127,587 yen per unit) through a public offering.
  • New investment units were issued at an issue amount of 127,587 yen by way of third-party allotment.
  • New investment units were issued at an issue price of 127,140 yen per unit (issue amount of 122,967 yen per unit) through a public offering.
  • New investment units were issued at an issue amount of 122,967 yen by way of third-party allotment.
  • New investment units were issued at an issue price of 139,912 yen per unit (issue amount of 135,320 yen per unit) through a public offering.
  • New investment units were issued at an issue amount of 135,320 yen by way of third-party allotment.
  • As a consequence of the merger with SHI effective May 1, 2018, SHR implemented a two-for-one split of investment units of SHR (increase of 969,000 units) to secure an allotment of at least one unit for unitholders of SHI, allotting 1.65 units per investment unit of SHI (increase of 1,824,091 units).
  • New investment units were issued at an issue price of 76,537 yen per unit (issue amount of 74,103 yen per unit) through a public offering.
  • New investment units were issued at an issue amount of 74,103 yen by way of third-party allotment.
  • New investment units were issued at an issue price of 87,574 yen per unit (issue amount of 84,744 yen per unit) through a public offering.
  • New investment units were issued at an issue amount of 84,744 yen by way of third-party allotment.
  • From June 16, 2022 to September 7, 2022, SHR acquired its own investment units through market purchases via the Tokyo Stock Exchange based on a discretionary transaction contract with a securities company. As resolved at SHR's Board of Directors Meeting on September 30, 2022, all acquired investment units were canceled on October 17, 2022. In addition, funds related to the buyback of investment units were deducted from the capital surplus, thus there is no change in Unitholders’ Capital.
  • At SHR's Board of Directors Meeting held on December 21, 2023, a resolution was passed for the reversal of allowance for temporary difference adjustment and incorporate it into the unitholders' capital.

Major Unitholders

As of April 30, 2024

Name Number of Owned Units
(units)
Percentage of Owned Units
to Total Units Issued
and Outstanding (%)
Custody Bank of Japan, Ltd. (Trust Account) 1,190,827 27.2
The Master Trust Bank of Japan, Ltd. (Trust Account) 745,401 17.0
The Nomura Trust and Banking Co., Ltd. (Investment Trust Account) 202,839 4.6
Sekisui House, Ltd. 200,750 4.6
THE NOMURA TRUST AND BANKING CO., LTD. AS THE TRUSTEE OF REPURCHASE AGREEMENT MOTHER FUND 81,150 1.9
STATE STREET BANK WEST CLIENT - TREATY 505234 67,892 1.5
STATE STREET BANK AND TRUST COMPANY 505103 62,311 1.4
SSBTC CLIENT OMNIBUS ACCOUNT 59,207 1.4
JP MORGAN CHASE BANK 385771 47,108 1.1
Mizuho Securities Co., Ltd. 43,825 1.0
Total 2,701,310 61.7
  • Percentage of owned units to total units issued and outstanding is rounded to the nearest first decimal place.

Unitholders Composition

Investment Units Basis Total 4,381,482 units

Individuals and others

336,608 units

Financial institutions (incl. Securities companies)

2,841,285 units

Non-financial corporations

294,501 units

Non-Japanese corporations, etc.

909,088 units

Unitholders Basis Total 25,455 people

Individuals and others

24,480 people

Financial institutions (incl. Securities companies)

209 people

Non-financial corporations

429 people

Non-Japanese corporations, etc.

337 people

Index

As of May 31, 2024

FTSE EPRA Nareit Global Real Estate Index Series
FTSE Global Equity Index Mid Cap
MSCI Japan Small Cap Index
S&P Global Property
TSE REIT Core Index
GPR/APREA Investable 100 Index
GPR/APREA Investable REIT 100 Index
GPR 250 Index/GPR 250 REIT Index
MSCI Japan ESG Select Leaders Index
FTSE4Good Index Series
Dow Jones Sustainability Asia/Pacific Index

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