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About NBF

Investment Policy

  • Portfolio Policy
  • Investment Criteria
  • Operation and Disposition Policy
  • Following property acquisitions, the goal is to obtain steady growth of operating profits on a mid-to-long-term basis.
  • Periodic review is conducted concerning the necessity of the disposition of individual properties,

Operational Policies

Regarding acquired operating properties, the goal is to obtain steady growth of operating profits on a mid-to-long-term basis by planning to maintain and improve asset value and competitive ability through investment in facilities and by expanding income (increasing rents, etc., increasing occupancy rates, extending the term of leases and rendering them more stable, etc.) and reducing property-related expenses.

  • In order to avoid large-scale reductions and fluctuations in operating revenues due to fire damage, withdrawal of tenants and so forth, efforts, such as maintaining appropriate investment allocation ratios including area diversification and obtaining adequate fire and casualty insurance, etc., will be exerted.
  • NBF will, in principle, for the purpose of assuring stable operating revenues on a mid-to-long-term basis, lease out all operating properties included in operating assets (including installation of parking lots, billboards etc.).

Dispositional Policies

In disposing of individual operating properties, selections will be made through comprehensive research and analysis based on the forecasted operating revenues, actual and predicted fluctuations in asset value, future prospects and stability of the area of location, risks of deterioration and obsolescence of real estate and predicted costs thereof as well as the composition of the portfolio, etc. Disposition/hold studies will be periodically undertaken with respect to all operating properties.

Distribution Per Unit
Actual39th Period (2H/2020) 11,000yen
Forecast40th Period (1H/2021) 11,350yen
41th Period (2H/2021) 11,050yen
Portfolio Data
Number of
Asset Size(Total Acquisition Price)
(Contract base)
1,385.1billion yen
As of Feb. 15, 2021
Occupancy Rate 97.7%
As of Jan. 31, 2021
Financial Data
39th Period(Second-Half 2020)

Investor Meeting(webcast)