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  2. Characteristics of Nippon Healthcare REIT
  3. Stable Management Strategy

Stable Management Strategy

Nippon Healthcare Investment Corporation takes the following measures to obtain stable revenue and to maintain and increase unitholders’ value.

Establish long-term lease relations

In principle, Nippon Healthcare Investment Corporation targets properties with remaining lease periods of 10 years or more at the time of acquisition for investment, upon consideration of the possibility of contract renewal.

Stabilization of earnings through fixed rent agreements

All lease agreements with operators for the assets under management of Nippon Healthcare Investment Corporation are fixed rent agreements.

Lease agreements with highly reliable operators

Nippon Healthcare Investment Corporation believes that all of the operators of its assets under management are highly reliable both with regard to their management track record for healthcare facilities and their creditworthiness.

Operator Number of managed facilities Number of operating rooms Sales (million yen) Established Attributes
Nichii Gakkan Company 320
cases
7,939
rooms
271,447 August 1973 Listed on the first section of the Tokyo Stock Exchange
Watami No Kaigo Co., Ltd. 104
cases
7,902
rooms
37,877 November
1992
Subsidiary of Watami Co., Ltd., a company listed on the first section of the Tokyo Stock Exchange
Sawayaka Club Co., Ltd.  55
cases
3,382
rooms
10,659 December
2004
Subsidiary of Uchiyama Holdings Co., Ltd., a company listed on the first section of the Tokyo Stock Exchange
Super Court Co., Ltd.  39
cases
2,746
rooms
10,597 May
1995
Subsidiary of Super Holdings Co., Ltd., the parent company of Super Hotel which manages business hotels
Cedar Co., Ltd. 34
cases
1,749
rooms
10,415 April
1981
Listed on JASDAQ on the Tokyo Stock Exchange
Charm Care Corporation 23
cases
1,617
rooms
5,080 August
1984
Listed on JASDAQ on the Tokyo Stock Exchange
Nihon Kaigo Iryo
Center Co., Ltd.
13
cases
558 rooms 1,378 October
1997
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Agreements with operators for contingencies

Nippon Healthcare Investment Corporation (NHI) has concluded agreements with all of the operators of its assets under management in which the main purpose is, if a lease agreement of a healthcare facility owned by NHI is cancelled, released or by any other reason terminated, or if termination is expected, and if NHI requests the operator to conduct management of the concerned healthcare facility upon concluding a new lease agreement with NHI or the trustee, that the operator will sincerely deliberate on the request (agreement on backup of management). Similar agreements will be considered to be concluded with operators of healthcare facilities to be acquired in the future as well.

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