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  2. Characteristics of Nippon Healthcare REIT
  3. Portfolio Development Policy

Portfolio Development Policy

Nippon Healthcare Investment Corporation will diversify investment in healthcare facilities in Japan while focusing investment on the healthcare facility category of “private nursing homes and other facilities for the elderly” such as fee-based homes for the elderly for which large demand is expected in the medium to long term.

Portfolio Development Policy

Ratios of investment in regions and healthcare facility types

Region Target incorporation
ratio (Note 4)
  Classification of healthcare facility Incorporation
ratio (Note 4)
Three Major
Areas (Note 1)
50% or more   Private nursing
homes and
other facilities
for the elderly
Fee-based homes
for the elderly (Note 5)
(with nursing care /
health-type / residential-type)
60% or more
Elderly housing with
supportive services
(Note 6)
Other private nursing
homes and facilities
for the elderly
Core City
Areas (Note 2)
50% or less   Medical facilities 40% or less
Other (Note 3) 10% or less   Other 10% or less
(Note 1) “Three Major Metropolitan Areas” refers to the greater Tokyo area (Tokyo, Kanagawa, Chiba and Saitama prefectures), the Chukyo area (Aichi, Mie and Gifu prefectures) and the Kinki area (Osaka, Kyoto, Hyogo, Nara and Shiga prefectures).
(Note 2) The “Core City Areas” refers to cities outside the Three Major Metropolitan Areas with populations of 200,000 or more. 
(Note 3) “Other” refers to cities outside the Three Major Metropolitan Areas and the Core City Areas with populations under 200,000.
(Note 4) “Incorporation ratio” is based on acquisition price (not including taxes and other expenses associated with acquisition).
(Note 5) “Fee-based homes for the elderly” refers to facilities as defined by Article 29 of the Act on Social Welfare for the Elderly. However, this excludes facilities that fall under the category of elderly housing with supportive services.
(Note 6) “Elderly housing with supportive services” refers to rental housing registered by prefectures that meet the registration criteria stipulated by the Act on Securement of Stable Supply for Elderly Persons’ Housing.