Strengths of ADR

ADR's Basic Management Policy

“Realize a Stable Long-term Dividend”

ADR’s Strength Supporting the Stable Dividends

ADR’s Strength Supporting the Stable Dividends

Stable Dividend

Stable Dividend

Diversified Portfolio 

(as of July 31, 2018)

Investment Areas

Investment Areas

Residential Unit Types

Residential Unit Types

Building Age

Building Age

Walking Time to Train Station

Walking Time to Train Station

Reserve for Temporary Difference

  • ■ Equivalent to “retained earnings” for non-J-REIT companies
  • ■ Capable of distribution exceeding the net income within the scope of cash on hand, thereby;
    ・enabling a increase in dividend
    ・supplementing dividend to cover losses at the time of emergencies and disasters
    ・covering loss on sales and impairment loss
  • ■ Contribute to stabilizing and smoothing out dividends
  • ■ Arises from the merger in March 2010 (Listed as "Dividend Reserve" until FP July 2016)
  • ■ A REIT must distribute nearly the entire net income
    Generally, REITs do not have "reserve for temporary difference"
  • ■ If the market value of the net assets (fair value of accepted assets – fair value of accepted liabilities) of the acquired company exceeds the acquisition cost, the difference is recognized as "negative goodwill" and recorded as income and booked as net asset in the balance sheet.