Unitholders’ Capital
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Unitholders’ Capital
As of June 15, 2026
| Unitholders’ Capital | 165,151,423,473 yen |
|---|---|
| Total Number of Authorized Investment Units | 20,000,000 units |
| Total Number of Investment Units Issued | 4,303,970 units |
The table below shows the changes in unitholders’ capital and the total number of investment units issued of SHR since its establishment.
| Date | Event |
Unitholders’ Capital (million yen) |
Total Number of Investment Units Issued (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 |
| Jun. 14, 2024 | Reversal of allowance for temporary difference adjustments(Note 17) |
2 | 161,290 | - | 4,381,482 |
| Dec. 16, 2024 | Reversal of allowance for temporary difference adjustments(Note 18) |
3,861 | 165,151 | - | 4,381,482 |
| Mar. 14, 2025 | Cancellation(Note 19) | - | 165,151 | (26,053) | 4,355,429 |
| Oct. 14, 2025 | Cancellation(Note 20) | - | 165,151 | (51,459) | 4,303,970 |
- 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.
- At SHR’s Board of Directors Meeting held on June 14, 2024, a resolution was passed for the reversal of allowance for temporary difference adjustments and incorporate it into the Unitholders’ Capital.
- At SHR’s Board of Directors Meeting held on December 16, 2024, a resolution was passed for the reversal of allowance for temporary difference adjustments and incorporate it into the Unitholders’ Capital.
- From December 17, 2024 to January 29, 2025, 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 February 27, 2025, all acquired investment units were canceled on March 14, 2025. In addition, funds related to the buyback of investment units were deducted from the capital surplus, thus there is no change in Unitholders' Capital.
- From June 16, 2025 to September 8, 2025, 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 29, 2025, all acquired investment units were canceled on October 14, 2025. In addition, funds related to the buyback of investment units were deducted from the capital surplus, thus there is no change in Unitholders' Capital.
Major Unitholders
As of April 30, 2026
| Name | Number of Owned Units (units) |
Percentage of Owned Units to Total Units Issued and Outstanding (%) |
|---|---|---|
| Custody Bank of Japan, Ltd. (Trust Account) | 919,777 | 21.4 |
| The Master Trust Bank of Japan, Ltd. (Trust Account) | 673,021 | 15.6 |
| Sekisui House, Ltd. | 200,750 | 4.7 |
| The Nomura Trust and Banking Co., Ltd. (Investment Trust Account) | 199,112 | 4.6 |
| STATE STREET BANK AND TRUST COMPANY 505103 | 65,101 | 1.5 |
| STATE STREET BANK AND TRUST COMPANY 505001 | 64,822 | 1.5 |
| JP MORGAN CHASE BANK 385781 | 60,205 | 1.4 |
| Meiji Yasuda Life Insurance Company | 57,218 | 1.3 |
| THE NOMURA TRUST AND BANKING CO., LTD. AS THE TRUSTEE OF REPURCHASE AGREEMENT MOTHER FUND | 43,922 | 1.0 |
| Mitsubishi UFJ Morgan Stanley Securities Co., Ltd. | 43,031 | 1.0 |
| Total | 2,326,959 | 54.1 |
- Percentage of owned units to total units issued and outstanding is rounded to the nearest first decimal place.
Unitholders Composition
As of April 30, 2026
Investment Units Basis Total 4,303,970 units
Individuals and others
471,410 units
Financial institutions (incl. Securities companies)
2,401,281 units
Non-financial corporations
331,643 units
Non-Japanese corporations, etc.
1,099,636 units
Unitholders Basis Total 39,557 people
Individuals and others
38,301 people
Financial institutions (incl. Securities companies)
188 people
Non-financial corporations
598 people
Non-Japanese corporations, etc.
470 people
Index
As of May 31, 2026
| FTSE EPRA Nareit Global Real Estate Index Series |
| FTSE Global Equity Index Mid Cap |
| MSCI Japan Small Cap |
| 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 |
| FTSE4Good Index Series |
| Dow Jones Best-in-Class Asia Pacific Index |