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  2. Characteristics of Nippon Healthcare REIT
  3. Healthcare REIT Structure

Healthcare REIT Structure

Healthcare REIT structure and characteristics

While providing residents with private nursing homes and other facilities for the elderly such as fee-based homes for the elderly and elderly housing with supportive services on the one hand, the mechanism of healthcare REITs is such that it also leases business assets to operators and receives rent from the operators who are the lessees. Therefore the healthcare facilities owned by healthcare REITs have the feature of being management-type facilities. The roles of parties concerned with Nippon Healthcare Investment Corporation (NHI) are as follows.

Healthcare REIT structure and characteristics

Structure of cash flow and the nursing care insurance system

In addition to advance fees, monthly rent, etc. paid by residents, operators receive nursing care fees from municipalities and such. On the other hand, NHI can expect stable rent in the medium to long term regardless of fluctuations in earnings from residents and municipalities, in principle, based on long-term fixed-rent lease agreements with operators.

Structure of cash flow and the nursing care insurance system

(Note 1) The burden on the government and municipalities with regard to Specified Facilities and the three nursing care insurance operations is indicated
(Note 2) Starting in August 2015, nursing care insurance subscribers with a certain level of income are scheduled to bear 20% of nursing care fees, in which case insurers (municipalities, etc.) are scheduled to bear 80% of nursing care fees.

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