Nomura Office Fund Announces Financial Results for the Fiscal Period Ended April 30, 2012

TOKYO--(BUSINESS WIRE)--Nomura Real Estate Office Fund, Inc. (NOF)(URL: http://www.nre-of.co.jp/english/) (TOKYO:8959), a Japanese office building real estate investment trust (J-REIT), announces financial results for the fiscal period from November 1, 2011 to April 30, 2012.

(Omit fractions under one million yen)
(1) Operating Results  (Ratio of increases and decreases in comparison with the previous period)
	Operating Revenues		Operating Profits		Current Profits
Period Ended	Millions of yen	(%)	Millions of yen	(%)	Millions of yen	(%)
April 30, 2012	12,441	(-8.8)	5,529	(-11.1)	3,903	(-15.7)
October 31, 2011	13,637	(4.0)	6,219	(1.2)	4,628	(2.8)

	Net Income		Net Income per Unit	ROE (Return on Equity)	ROA (Return on Assets)	Current Profits to Operating Revenues Ratio
Period Ended	Millions of yen	(%)	yen	%	%	%
April 30, 2012	3,902	(-15.7)	12,789	2.1	1.0	31.4
October 31, 2011	4,627	(4.5)	15,164	2.4	1.2	33.9

(2) Distributions
	Cash Distributions per Unit	Total Cash Distribution	Distributions in Excess of Net Income per Unit	Distributions in Excess of Net Income	Payout Ratio (Note)	Distributions to Net Asset Ratio
Period Ended	yen	Millions of yen	yen	Millions of yen	%	%
April 30, 2012	12,790	3,902	0	0	100.0	2.1
October 31, 2011	14,837	4,527	0	0	97.8	2.4

(Note 1)	Payout Ratio is rounded off to the first decimal place.
(Note 2)	Cash Distributions per Unit for the period ended October 31, 2011 is calculated by dividing the amount after adding the provision of reserve for reduction entry (JPY100 million) to unappropriated retained earnings by the number of investment units issued and outstanding.

(3) Financial Position
	Total Assets	Net Assets	Capital Adequacy Ratio	Net Assets per Unit
Period Ended	Millions of yen	Millions of yen	%	yen
April 30, 2012	397,667	189,458	47.6	620,923
October 31, 2011	400,390	190,082	47.5	622,970

(Reference)

Owned Capital: As of April 30, 2012

JPY189,458mln

As of October 31, 2011

JPY190,082mln

(4) Cash Flows
	Cash Flows from Operating Activities	Cash Flows from Investing Activities	Cash Flows from Financing Activities	Cash and Cash Equivalents at End of Period
Period Ended	Millions of yen	Millions of yen	Millions of yen	Millions of yen
April 30, 2012	4,914	-8,765	-5,773	26,692
October 31, 2011	13,789	-1,502	-7,679	36,317

Forecasts of Financial Results for the Fiscal Period Ending October 31, 2012 (From May 1, 2012 to October 31, 2012)
	Operating Revenues		Operating Profits		Current Profits		Net Income		Cash Distributions per Unit	Distributions in Excess of Net Income per Unit
Period Ending	Millions of yen (%)		Millions of yen (%)		Millions of yen (%)		Millions of yen (%)		yen	yen
October 31, 2012	12,608	(1.3)	5,335	(-3.5)	3,754	(-3.8)	3,753	(-3.8)	12,300	0
(Reference) Forecast Net Income per Unit: JPY12,300

Others
(1)	Changes in Accounting Policies
	a.	Changes accompanying revisions in accounting standards	None.
	b.	Changes excluding a. above	None.
	c.	Changes in accounting estimate	None.
	d.	Retrospective restatement	None.

(2)	Number of investment units issued
	a.	The number of investment units issued (including treasury investment units)
		As of April 30, 2012	305,123
		As of October 31, 2011	305,123
	b.	The number of treasury investment units
		As of April 30, 2012	0
		As of October 31, 2011	0

(Note)

Net income per unit is calculated by dividing net income by the weighted-average number of units outstanding for the respective six-month period. Net income per unit after adjusting for diluted units is not stated because there are no diluted investment units.

The forecasts above are based on information currently available to NOF and on a certain condition deemed to be reasonable. The actual results may vary due to many factors. Accordingly, NOF does not guarantee the cash distribution amount identified above.

The information above is excerpt of and translated from Brief Report on Closing of Accounting Report ("Kessan Tanshin") in Japanese released on June 15, 2012. To confirm complete information, please refer to the original.
(Japanese) http://www.nre-of.co.jp/site/file/tmp-q7cqJ.pdf

< About NOF > URL: http://www.nre-of.co.jp/english/

NOMURA OFFICE FUND, INC. (NOF) is listed on the Tokyo Stock Exchange (J-REIT) with the securities code number 8959, managed by Nomura Real Estate Asset Management Co., Ltd. (NREAM) within the Nomura Real Estate Group. The NOF Portfolio consists of office buildings located in the three major metropolitan areas and government-designated cities, etc.

Executive Director: Yuichi Maruko

*Asset Management Company (AM Company): Nomura Real Estate Asset Management Co., Ltd.

*President and Chief Executive Officer of the AM Company: Yasuaki Fukui