NIPPON REIT Investment Ratios and Metrics

Market cap in millions JPY. Fiscal year is July - June.

Millions JPY. Fiscal year is Jul - Jun.

Fiscal Year	Current	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	2020 - 2016
Period Ending	Apr '26 Apr 27, 2026	Jun '25 Jun 30, 2025	Jun '24 Jun 30, 2024	Jun '23 Jun 30, 2023	Jun '22 Jun 30, 2022	Jun '21 Jun 30, 2021	2020 - 2016
Market Capitalization	158,270	156,325	148,477	153,651	163,775	205,393	Upgrade
Market Cap Growth	9.01%	5.29%	-3.37%	-6.18%	-20.26%	31.56%	Upgrade
Enterprise Value	277,229	273,653	270,851	275,092	286,594	327,765	Upgrade
Last Close Price	89500.00	86283.10	75938.31	74386.55	75547.17	89919.54	Upgrade
PE Ratio	12.44	14.26	16.96	20.36	17.60	19.94	Upgrade
PS Ratio	6.98	7.45	7.94	8.82	8.82	10.51	Upgrade
PB Ratio	1.18	1.19	1.13	1.18	1.25	1.56	Upgrade
P/OCF Ratio	3.26	5.23	8.20	11.85	8.49	8.03	Upgrade
EV/Sales Ratio	12.23	13.05	14.49	15.80	15.43	16.78	Upgrade
EV/EBITDA Ratio	16.87	18.70	21.86	24.69	22.63	24.07	Upgrade
EV/EBIT Ratio	19.34	21.68	26.11	30.13	26.91	28.26	Upgrade
Debt / Equity Ratio	1.01	1.02	1.02	1.02	1.02	1.01	Upgrade
Debt / EBITDA Ratio	8.24	9.17	10.82	11.90	10.47	9.74	Upgrade
Net Debt / Equity Ratio	0.89	0.94	0.93	0.91	0.94	0.93	Upgrade
Net Debt / EBITDA Ratio	7.24	8.46	9.87	10.64	9.64	8.99	Upgrade
Asset Turnover	-	0.08	0.07	0.06	0.07	0.07	Upgrade
Quick Ratio	0.63	0.42	0.50	0.68	0.56	0.62	Upgrade
Current Ratio	0.89	0.67	0.77	0.99	0.91	1.01	Upgrade
Return on Equity (ROE)	-	8.35%	6.69%	5.78%	7.11%	7.86%	Upgrade
Return on Assets (ROA)	-	2.84%	2.34%	2.07%	2.42%	2.65%	Upgrade
Return on Invested Capital (ROIC)	5.33%	4.75%	3.92%	3.47%	4.02%	4.45%	Upgrade
Earnings Yield	8.04%	7.01%	5.90%	4.91%	5.68%	5.02%	Upgrade
Dividend Yield	5.22%	-	-	5.63%	6.78%	6.37%	Upgrade
Payout Ratio	67.08%	79.35%	88.39%	102.48%	108.42%	93.01%	Upgrade
Buyback Yield / Dilution	1.73%	0.88%	-	-	-	-	Upgrade
Total Shareholder Return	6.89%	0.88%	-	5.63%	6.78%	6.37%	Upgrade

Source: S&P Capital IQ. Real Estate template. Financial Sources.