CFO
Dear Stakeholders,
The financial management of PIC is focused on securing and maintaining stability through a conservative financial strategy. We aim to maintain an optimal combination of equity and debt, as well as obtain capital at costs as low as possible, to deliver the best possible returns to PIC's unitholders.
Our basic policy strives to further spread out the repayment dates of borrowings by accelerating shifts to long-term loans and fixed-rate interest loans, and to reinforce the finances ground and stability of PIC by lowering the LTV.
J-REITs have faced a difficult financing environment over the past few years. However, the present demonstration of a less stringent attitude among financial institutions towards real estate financing is favorably transforming the situation. This in turn has enabled J-REITs to procure funds in the capital markets through public offerings of investment units and the issuance of corporate bonds. We are convinced that the financing environment is becoming now favorable for the acquisition of properties.
This, combined with the fact that PIC's new main sponsor NTT Urban Development Corporation enjoys high credit as a leading real estate company in Japan, means that PIC should be able to reduce financing costs in the future. We intend to capitalize on this new strength to further conduct prudent but dynamic financing for PIC. Another of our immediate tasks is to redeem corporate bonds and repay borrowings resolutely to further strengthen PIC's financial standing in the marketplace.
Resume
| Atsuo Komai | Apr. 1983 | Joined Nippon Telegraph and Telephone Corporation |
|---|---|---|
| Jul. 2001 | Manager, Accounting and Finance Depatment, Nippon Telegraph and Telephone East Corporation (NTT EAST) | |
| Jul. 2008 | Manager, General Affairs and Personnel Department, NTT EAST | |
| Sep. 2009 | General Manager, Real Estate Investment Promotion Department, NTT Urban Development Corporation | |
| Jun. 2010 | Seconded to Premier REIT Advisors Co., Ltd. (PRA), Director and General Manager of Business Affairs Department, PRA |
