Procedures for Mergered Funds

Where a J-REIT has an irregular fiscal period of longer than 6 months associated with a merger, data disclosure for the relevant fiscal period is delayed, in which case final figures, quasi-final figures, and preliminary estimate figures are calculated and published in the first instance using only the data from other J-REITs not applying an irregular fiscal period of 6 months or longer. Subsequently, when the data for the irregular period are disclosed, the final figures and quasi-final figures are recalculated retroactively to include the relevant data.

Accordingly, please note that, in the cases indicated below where there is an irregular fiscal period associated with a merger, the final figures and quasi-final figures will be amended retroactively.

• The index published on November 30, 2010, was calculated using financial results data for BLife Investment Corporation based on an irregular 9-month fiscal period associated with a merger. Partial amendments have therefore been made to the published final figures for December 2009 and January 2010 and the quasi-final figures for February 2010.
• The 15th fiscal period of Invincible Investment Corporation was a 12-month fiscal period associated with the merger of February 1, 2010. Accordingly, index figures published up to the end of February 2011 and based on final figures and quasi-final figures for the period from January 2010 to June 2010 are calculated and published without including data from Invincible Investment Corporation for the relevant period. Please note that data from Invincible Investment Corporation for the irregular fiscal period will thus not be included until the index figures published in late March 2011, and that the final figures published then for the period from January 2010 to June 2010 will be amended versions of the previously published final figures and quasi-final figures.
• The first fiscal period of the newly established Advance Residence Investment Corporation was an 11-month fiscal period associated with the merger of March 2, 2010. Accordingly, index figures published up to the end of March 2011 and based on final figures and quasi-final figures for the period from March 2010 to August 2010 are calculated and published without including data from the newly established Advance Residence Investment Corporation. Please note that data from the newly established Advance Residence Investment Corporation for the irregular fiscal period will thus not be included until the index figures published in late April 2011, and that the final figures published then for the period from March 2010 to August 2010 will be amended versions of the previously published final figures and quasi-final figures.
• The index published on March 29, 2013, was calculated using financial results data for Japan Hotel REIT Investment Corporation based on an irregular 9-month fiscal period associated with a merger. Partial amendments have therefore been made to the published final figures for April and May 2012.

This page will continue to be used to give notification whenever a J-REIT is found to have altered its fiscal period due to merger or other reason.

A partial amendment has been made to the definition of index calculation in the event of a merger. Details can be viewed by following the link below.

There are no resulting changes to the index figures.

The method of calculation of the ARES J-REIT Property Index and other indices in the event of a merger.