• TSE REIT Index and TOPIX
• Dividend Yield
• Market Cap. and Number of J-REITs
• Assets and Number of Properties
• Price/NAV Ratio
• ARES Japan Property Index（J-REIT）
  - Quarterly Retums
• ARES Japan Property Index（J-REIT）
  - Monthly AJPI Cap Rate

TSE REIT Index and TOPIX (Price Return)

Source: Bloomberg

TSE REIT Index and TOPIX (Total Return)

Source: Bloomberg

Dividend Yield

Source: ARES, Japan Bond Trading and TSE

Market Cap. and Number of J-REITs

Source: ARES

Assets and Number of Properties

Source: ARES

Price/NAV Ratio

Source: ARES

ARES Japan Property Index（J-REIT） - Quarterly Retums

ARES Japan Property Index（J-REIT） - Monthly AJPI Cap Rate