A Compound Portfolio of Office Buildings and Residential Properties as Investment Targets
Focused Investment on Assets in the Tokyo Economic Bloc
PIC focuses its investment primarily on the Tokyo Economic Bloc, which is characterized by high concentrations of people and industries and an established economic foundation, and in Major Regional Cities. By dividing the investment target areas into the categories of the 5 Central Wards of Tokyo, the Other 18 Wards of Tokyo, the Urban Areas Surrounding Tokyo and the Major Regional Cities, and by considering the balance between those categories while concentrating on the 5 Central Wards, PIC seeks to achieve a portfolio diversified by asset type comprising office buildings and residential properties.
|5 Central Wards of Tokyo||Chiyoda, Chuo, Minato, Shinjuku and Shibuya Wards|
|Other 18 Wards of Tokyo||The remaining 18 wards of the 23 wards of Tokyo|
|Urban Areas Surrounding Tokyo||Tokyo Prefecture excluding the 23 wards of Tokyo, Kanagawa Prefecture (Yokohama City, Kawasaki City and other cities), Saitama Prefecture (Saitama City and other cities) and Chiba Prefecture (Chiba City and other cities)|
|Major Regional Cities||Sapporo City, Sendai City, Shizuoka City, Nagoya City. Osaka City, Kyoto City, Kobe City, Hiroshima City, Okayama City and Fukuoka City etc.|
Based on the basic policy, PIC diversifies its investment targeting to achieve a geographical split for both office buildings and residential properties as indicated below (each of which is set at 100% in the table).
|Asset type/Area||5 Central Wards of Tokyo||Other 18 Wards of Tokyo||Urban Areas Surrounding Tokyo||Major Regional Cities|
|Office buildings||50% or more||0% - 20%||0% - 40%||0% - 20%|
|Residential properties||50% or more||0% - 40%||0% - 20%||0% - 20%|
|(Note)||Diversification ratios by area show the respective ratios of office buildings and residential properties. Since the figures in the table represent ranges, the total of such figures is not 100%. Although PIC makes investments by aiming to achieve the ratios above, the actual ratios may differ in the course of acquiring the investment assets.|