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)
[ released January 20, 2022 ]
- 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.
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.
- Before using the data or graphs on this website for purposes such as the provision of information or the composition of financial instruments, please direct any inquiries concerning consent procedures and other matters to the department in charge indicated below. When the data or graphs is used strictly for one's own research purposes, without indicating or providing such information to third parties, such inquiry is not necessary.
- The intention of Sumitomo Mitsui Trust Research Institute is to provide the information only to users of this information. This information is not provided for purposes such as application for, inducement of, or intermediation in sales or other transactions involving products, services, or rights, including financial instruments.
- 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.
- Sumitomo Mitsui Trust Research Institute shall not be responsible for any losses or damages incurred by users of this information for reasons such as the updating of, the making of additions to, or the revision or deletion in whole or in part of the content of this information, or the suspension or termination of the provision of this information.
- 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.