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Japanese developers log damage reports after Typhoon Jebi


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Japanese developers log damage reports after Typhoon Jebi

Property companies in Japan provided updates on their respective portfolios, after Typhoon Jebi battered the country's Kansai region on Sept. 4.

* GLP J-REIT said it found broken shutters and windows in its properties, but received no reports of significant damages that may affect its operation.

* AEON REIT Investment Corp., meanwhile, said it received reports of water leakage and gale but no reports of damage that would impact its operating results. Similarly, Sakura Sogo REIT Investment Corp. said some minor damage, like water leakage, was reported from its properties but none that will have an influence on its operating results.

* ORIX JREIT Inc., Star Asia Investment Corp., Nomura Real Estate Master Fund,Japan Rental Housing Investments Inc. and Pressance Corp. Co. Ltd. separately said they received reports of minor damages to their assets, but none that would impact their respective operating results.

* According to Invincible Investment Corp., there were no reports of damage to its assets that would impact its business outlook as of Sept. 5, while Nippon Prologis REIT Inc. said it found no material human or physical damage that may cause disruption in its operations or cause losses as of Sept. 6.

The companies said they will provide further updates if they identify damages that may have material impact on their respective operating results.

Typhoon Jebi, Japan's most powerful storm in 25 years, left at least 10 people dead in its trail and forced the closure of the Kansai airport, the British Broadcasting Corp. reported Sept. 6.