Frontier Real Estate Investment Corporation

Code 8964

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Milestones

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Milestones of FRI

May 11, 2004 The founder, Frontier REIT Management Inc., filed for establishment of FRI under Article 69-1 of the Investment Trust and Investment Corporation Act of Japan (“Investment Trust Act”)
May 12, 2004 FRI established and registration completed under Article 166 of the Investment Trust Act
June 16, 2004 Registration of FRI under Article 187 of the Investment Trust Act implemented by the Prime Minister (Registration Number 27, Head of the Kanto Local Finance Bureau)
August 2, 2004 Approval granted from Tokyo Stock Exchange (TSE) to list on the Real Estate Investment Trust Market
August 9, 2004 FRI listed on the Real Estate Investment Trust Market of TSE
March 28, 2006 Based on the resolution at the First General Meeting of Unitholders, FRI’s Articles of Incorporation amended
March 25, 2008 Based on the resolution at the Second General Meeting of Unitholders, FRI’s Articles of Incorporation amended
March 26, 2010 Based on the resolution at the Third General Meeting of Unitholders, FRI’s Articles of Incorporation amended
March 23, 2012 Based on the resolution at the Fourth General Meeting of Unitholders, FRI’s Articles of Incorporation amended
January 1, 2014 Based on the split of investment units (2-for-1 split of the investment units), FRI’s Articles of Incorporation amended
March 26, 2014 Based on the resolution at the Fifth General Meeting of Unitholders, FRI’s Articles of Incorporation amended
March 24, 2016 Based on the resolution at the Sixth General Meeting of Unitholders, FRI’s Articles of Incorporation amended

Total Equity Financing

Changes in unitholders' equity and the total number of units issued and outstanding since establishment are as follows.

Date Summary Unitholders' Equity
(Note 1) (million yen)
Number of Units
Issued and
Outstanding (unit)
Notes
New Balance New Balance
May 12, 2004 Private offering at establishment 200 200 400 400 (Note 2)
Aug. 7, 2004 Public offering 54,136 54,336 102,000 102,400 (Note 3)
Sep. 8, 2004 Third-party allotment 4,246 58,582 8,000 110,400 (Note 4)
Mar. 24, 2008 Third-party allotment 9,650 68,233 14,600 125,000 (Note 5)
Jul. 24, 2008 Public offering 21,146 89,379 35,000 160,000 (Note 6)
Jul. 1, 2010 Public offering 18,331 107,711 32,000 192,000 (Note 7)
Jul. 28, 2010 Third-party offering 1,145 108,857 2,000 194,000 (Note 8)
Jul. 10, 2012 Public offering 18,942 127,800 31,000 225,000 (Note 9)
Aug. 8, 2012 Third-party offering 1,527 129,327 2,500 227,500 (Note 10)
Mar. 5, 2013 Public offering 16,420 145,748 19,500 247,000 (Note 11)
Mar. 21, 2013 Third-party offering 842 146,590 1,000 248,000 (Note 12)
Jan. 1, 2014 Split of investment units - 146,590 248,000 496,000 (Note 13)
(Note 1) The monetary amount shown for Unitholders' Equity has been rounded to the nearest million yen.
(Note 2) At its establishment, FRI issued investment units at an issue price of 500,000 yen per unit.
(Note 3) FRI issued new investment units at an issue price of 550,000 yen (issue value of 530,750 yen) per unit in order to raise funds for the acquisition of a new property.
(Note 4) FRI issued new investment units through a third-party allotment at an issue value of 530,750 yen per unit in order to raise funds for the acquisition of a new property.
(Note 5) FRI issued new investment units through a third-party allotment at an issue price of 661,000 yen per unit in order to raise funds for the acquisition of a new property.
(Note 6) FRI issued new investment units at an issue price of 625,240 yen (issue value of 604,186 yen) per unit in order to partially repay borrowings taken out to acquire a new property.
(Note 7) FRI issued new investment units at an issue price of 592,312 yen (issue value of 572,872 yen) per unit in order to raise funds for the acquisition of a new property.
(Note 8) FRI issued new investment units at an issue value of 572,872 yen per unit in order to partially repay borrowings.
(Note 9) FRI issued new investment units at an issue price of 631,800 yen (issue value of 611,064 yen) per unit in order to repay borrowings taken out to acquire a new property and also other borrowings.
(Note 10) FRI issued new investment units at an issue value of 611,064 yen per unit in order to repay borrowings.
(Note 11) FRI issued new investment units at an issue price of 870,675 yen (issue value of 842,099 yen) per unit in order to repay borrowings taken out to acquire a new property and also other borrowings.
(Note 12) FRI issued new investment units at an issue value of 842,099 yen per unit in order to repay borrowings taken out to acquire a new property and also other borrowings.
(Note 13) FRI implemented a 2-for-1 split of investment units.
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