Here, we introduce the Net Asset Value (NAV) calculated by Sumitomo Mitsui Trust Research Institute.
These indices may be used as benchmarks for investment in J-REITs.

NAV (Net Asset Value)

[ updated March 15, 2024 ]

  • NAV represents the adjusted net asset value of a J-REIT reflecting the market value of properties held by the J-REIT, that is, the balance between the properties value and debts.
  • The Graph below shows the fluctuation of the premium/ discount of unit price to the NAV for all the J-REITs listed on Tokyo Stock Exchange since September 2002.
  • NAV is calculated monthly. Basically NAV graph is released at the middle of each month after a two month delay.

Graph

Notes on usage

  • Implied Cap Rate and NAV of J-REITs presented on this website is the intellectual property of Sumitomo Mitsui Trust Research Institute, and all rights related to this information belong to Sumitomo Mitsui Trust Research Institute.
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  • Based on its own judgment, Sumitomo Mitsui Trust Research Institute may update, make additions to, revise or delete in whole or in part, or otherwise modify the content of this information without providing advance notice thereof to users of the information.
  • Sumitomo Mitsui Trust Research Institute may suspend or terminate the calculation or provision of Implied Cap Rate and NAV through this website, without providing advance notice thereof to users of this information, in cases such as the following: when the content of this information is updated, additions are made to it, or it is revised or deleted in whole or in part; when system maintenance or inspection is conducted; when equipment, cables, etc. are damaged or their service is suspended; or when such suspension or termination is unavoidable as a result of power outages, natural disasters, or other factors.
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  • Under no circumstances does Sumitomo Mitsui Trust Research Institute guarantee the accuracy of information on Implied Cap Rate and NAV presented on this website, and Sumitomo Mitsui Trust Research Institute shall not be liable for any errors in the figures used in the calculation of Implied Cap Rate and NAV.