A part of gains on sale was appropriated to cash distribution and 1,264 million yen was retained in order to strengthen the capability to cope with the risk(the corporate tax was not imposed for this retention).
Since the latter half of the 2000s, it had invested in several global PE funds through a fund of funds, but dividends were not paid as expected due to a strong J-curve effect.
We propose products with low dividend frequency for clients' long-term asset formation needs. As a result, the ratio of dividend distribution to the balance of investment trusts is lower than the market average.
While we manage assets of JHR, we believe that realizing stable growth of dividend and improvement of asset value is the benefit to our investors. In order to accomplish this goal, we operate our assets with a high level of expertise as an asset manager of J-REIT specializing in hotel assets.
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