Thank you very much for your kind support of Nippon Accommodations Fund (NAF).

It is because of the support of our unitholders and other stakeholders that NAF has been able to develop its asset size and track record steadily from the time of its listing on the Real Estate Investment Trust Securities Market (J-REIT Market) on August 4, 2006, to this day, and for this we are deeply grateful.

NAF defines assets which meet diversifying needs for residences and lodging amidst changes in lifestyles of people and social situations as well as the expectations of users regarding the space and time of their stay as Accommodation Assets. By managing Accommodation Assets appropriately, NAF aims to secure stable income.

The portfolio centers on rental apartments located in Tokyo’s 23 wards that provide both convenience and excellent living conditions, namely the Park Axis series developed by the Mitsui Fudosan Group, the sponsor, and the Park Cube series acquired from third parties. Moreover, NAF defines residential, lodging, and other such facilities including dormitories, corporate housing, senior residences, and hotels as “hospitality facilities” and aims to expand its assets by incorporating a certain amount of these facilities into the portfolio.

Residential real estate centering on rental apartments have been said to possess the characteristic of stable revenue. NAF will endeavor to manage its assets steadily and strategically so as to maximize unitholder value in the medium to long term, taking full advantage of this characteristic.

Additionally, in terms of solving the various social challenges that we face today, while the United Nations advocates benchmarks such as the Sustainable Development Goals (SDGs) for example, NAF, too, seeks to continue to engage in management that emphasizes sustainability further, referring to the Policy for Addressing ESG Issues set forth by the Mitsui Fudosan Group, the sponsor of the Asset Management Company of NAF (Mitsui Fudosan Accommodations Fund Management Co., Ltd.).
NAF has been steadily addressing sustainability issues together with the Asset Management Company of NAF with the Sustainability Policy formulated in fiscal 2016 and reviewed periodically since.
In addition, NAF has set numerical targets in three environmental performance indicators with 2030 as the target year, seeking to keep playing its part in the realization of a carbon-neutral society.
And in April 2023, NAF launched initiatives for disclosure to be consolidated to a section specially set up for ESG on the NAF website designed to provide a clearer view of the series of sustainability initiatives being taken. Please do take a look when you have the time.

NAF will continue to remain committed to business activities in a manner that would lead to the realization of maximization of unitholder value for years to come while taking care to maintain the trust and cooperation of its stakeholders.
NAF would like to request your continued support.

Takashi Ikeda
Executive Director