• Record monetization and acquisition signal accelerating capital recycling – Loadstar's record Q1 revenue was driven by the Company’s largest single asset monetization transaction to date. Capital was immediately recycled into GINZA PREX East, the largest single acquisition in the Company’s history, alongside two additional central Tokyo properties, lifting the on-balance-sheet portfolio to a record ¥99.1bn. With the FY12/27 real estate portfolio target of ¥150bn still requiring approximately ¥50bn in net accumulation from the current level, acquisition activity is expected to remain elevated. The office market backdrop remains constructive, with existing office building vacancy in Tokyo's five central wards tightening to 2.02% and average rents continuing their recovery trend, providing visibility to Loadstar’s investment returns in the Company’s Real Estate Investment business.
