An office-specialized
J-REIT sponsored by

Mitsui Fudosan


Features of NBF
NBF's Latest News

About NBF

Aiming to achieve steady growth
and secure stable profits
as the largest J-REIT in Japan

As the largest J-REIT in Japan, NBF aims to achieve steady growth of its assets and secure stable profits from a medium- to long-term perspective by maximizing the know-how of its sponsor, the Mitsui Fudosan Group.


An office-specialized J-REIT
sponsored by Mitsui Fudosan

NBF builds a competitive portfolio capturing tenant needs mainly in central Tokyo.

  • Number of Properties 67
  • Asset Size 1,457.9billion yen
Contract base as of February 15, 2024
  • Occupancy Rate 97.8%
As of April 30, 2024


Appropriate control of LTV
Long-term fixed-rate borrowings with diversified repayment dates
Highest rating as a J-REIT

NBF strives to conduct conservative financial management by targeting an LTV ratio of 36-46% and a ratio of long-term fixed-rate borrowings of 80% or higher.

  • JCR AA+
  • R&I AA
  • S&P A+
As of December 31, 2023

Investor Relations

Information disclosure
to stakeholders

NBF strives to implement timely and accurate information disclosure to stakeholders.

  • Actual 11,500yen 45th Period (2H/2023)
  • Forecast 12,500yen 46th Period (1H/2024)
  • Forecast 12,000yen 47th Period (2H/2024)

ESG Initiatives

Making efforts on the enhancement of portfolio quality with the consideration for ESG

NBF will not only give consideration to the environment but also promote communication with stakeholders and governance initiatives by regarding ESG initiatives as a management issue.