Overview
Japan Residential Investment Company : JRIC
Japan Residential Investment Company Limited was established to make and hold investments in residential property in Japan. The Company through firms in which it has beneficial ownership seeks to provide Shareholders with stable income together with capital growth. The Fund intends to invest in and hold Japanese residential property predominantly situated in major conurbations which offer attractive yields and the potential for capital growth. Up to 15% of the Gross Asset Value (calculated at the time of investment) may be invested in commercial property once fully invested and measured at the time of investment. Although it is not the intention that Japan Residential Investment Company will seek actively to invest in commercial property, it may acquire properties which include elements of commercial property (for example shops situated on the ground floor of an apartment block). In addition, the Fund may acquire a portfolio of properties comprising a mixture of residential and commercial properties. In this event the Fund, subject to prevailing market conditions, will seek to sell any freestanding commercial properties.
News
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01 Jun 2016 1 min read
Takeovers boost Capital Gearing
Capital Gearing Trust says, as at 5 April 2016, the net asset value per share was 3,382p compared to 3,297p a year earlier. Although an increase across the year of 2.6% might be seen as modest, this achievement is more creditable when measured against, for example, the decline in the FTSE All-Share Index of 9.3% […]
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09 Dec 2015 1 min read
Japan Residential Investment Company – Alternative suitor pulls out
Japan Residential Investment Company has announced that the third party, with which it has been in discussion with, regarding a potential bid has advised that it is no longer interested in making an offer for the company. On 13 November 2015, Nikko III Pte. Ltd. and Japan Residential Investment Company announced that they had reached […]
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25 Nov 2015 1 min read
Japan Residential received new approach at 73.5p
Japan Residential Investment Company (JRIC) has announced today that, following the announcement, on 13 November 2015, that Nikko III Pte. Ltd. and JRIC had reached agreement on the terms of a recommended cash offer by Nikko III Pte, for the entire issued and to be issued share capital of JRIC (at 72p in cash per […]
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13 Nov 2015 3 min read
Bid for Japanese Residential Investment Company
The Bidco Board and the Japanese Residential Investment Company Board are pleased to announce that they have reached agreement on the terms of a recommended cash offer by Bidco for the entire issued, and to be issued, share capital of JRIC. Bidco is a newly-incorporated entity indirectly wholly-owned and controlled by the Blackstone Funds. Blackstone […]
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24 Jul 2015 1 min read
Athelney lags small cap. indices
Athelney Trust’s interim figures show its NAV total return was 6.4% over the six months ended 30 June 2015, behind returns on small cap indices with the FTSE Smaller Companies, Fledgling and Aim All-share being up by 7.1, 15.6 and 8.2 per cent respectively There is much musing on the economy in the report – […]
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2 min read
Japan Residential gains despite yen weakness
While Japan Residential’s net asset value rose 6.3% in yen terms over the six months ended 31 May 2015, in sterling terms the rise was just 0.4% as the yen weakened. The yen uplift in the NAV was driven by a 3.1% uplift in the value of their investment properties. The distribution was held steady […]
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08 Jul 2015 2 min read
Japan Residential adds new property
On 7 July 2015, Japan Residential Investment Company acquired Minamisuna 7 Chome Building, a seven story apartment complex located in Koto Ward, Tokyo. The purchase price was Yen488m (£2.5m), excluding tax and other acquisition costs, and has an estimated prospective net operating yield of 4.7%. The property was purchased at a 2.4% discount to a […]
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13 Mar 2015 1 min read
Japan Residential hints at planned reforms
Japan Residential Investment Company has published results for the year ended 30 November 2014 that show its net asset value fell by 2.6p to 56.1p. This fall was entirely down to the weakness of the yen against sterling. in yen terms the net asset value rose by 5.7% over the year. The dividend for the […]
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18 Aug 2014 1 min read
Japan Residential Investment Company Sells Branche Kanamecho IV for £3.2m
JRIC : Japan Residential Investment Company Sells Branche Kanamecho IV for £3.2m Japan Residential Investment Company has sold its Branche Kanamecho IV property (a 20 unit apartment building in Toshima Ward, Tokyo) for Yen 550m (£3.2m) excluding taxes and sale costs. This represents a 34.1% premium to the 31 May 2014 valuation, of Yen 240m, and is a […]
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30 Jul 2014 1 min read
Japan Residential Investment Company : JRIC – interims
Japan Residential Investment Company has published interim figures for the period ended 31 May 2014. The net asset value climbed from 58.7p to 58.9p and the company paid a distribution of 1.8p per share (covered 94.7% by earnings). The property portfolio rose in value by 1.8% but this was offset by a fall in the […]
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18 Mar 2014 1 min read
Japan Residential : JRIC – annual results
Over the year to the end of November 2013 Japan Residential Investment Company’s portfolio increased in value by 3% however adverse movements in the sterling / yen exchange rate pushed the net asset value down by 11%. Average occupancy nudged up to 95.6% from 95.2% but again yen weakness pushed down revenues. the dividend was […]
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28 Feb 2014 1 min read
Japan Residential : JRIC – acquisitions
Japan Residential Investment Company is buying seven residential apartment buildings for YEN9.4bn (£55.3m) at a small discount to a recent valuation. In all the properties contain 419 units and 15,077 sqm of leasable space and are expected to generate a yield of 5.2%
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30 Jan 2014 1 min read
Japan Residential Property ; JRIC – acquisition
Japan Residential Property has bought a 23 unit apartment building in the Toritsudai neighbourhood of Tokyo for Yen702m (£4.12m) equivalent to a 5.1% yield.
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30 Dec 2013 1 min read
Japan Residential : JRIC – acquisition
JRIC has bought a 61 unit apartment complex in East Village Sannomiya for Y796m. The estimated prospective net operating yield is 5.9%.