Daiwa House Logistics Trust - DBS Research 2022-11-10: Lost In Translation

• See Daiwa House Logistics Trust's announcement dated 09 Nov for its 3Q22 business update:

Higher revenues and NPI in JPY terms

• - Read this at SGinvestors.io -
• Despite this, distributable income in S$ was in line with IPO forecasts, mainly due to lower finance expenses due to;
  • Lower interest rates compared to forecasts and weaker JPY.
  • Lower asset management expenses, perpetual coupon payments, and other trust expenses, also due to weaker JPY.

Positive rental reversions

• - Read this at SGinvestors.io -
• Year-to-date, FY22 achieved positive rental reversions of +2.9%.

Low borrowing costs of ~1.0%

• Read more at SGinvestors.io.

Above is an excerpt from a report by DBS Group Research.
Clients of DBS may access the full PDF report @ https://www.dbs.com/insightsdirect/.

Read also DBS's most recent report:
2025-08-11 Daiwa House Logistics Trust - Sustained Rental Uplift In Japan.

Previous report by DBS:
2025-03-03 Daiwa House Logistics Trust - Resilient Amidst Headwinds.

Price targets by other brokers at Daiwa House Logistics Trust Target Prices.

Listing of research reports at Daiwa House Logistics Trust Analyst Reports.

Relevant links:
Daiwa House Logistics Trust Share Price History,
Daiwa House Logistics Trust Announcements,
Daiwa House Logistics Trust Dividend Payout Dates & Corporate Actions,
Daiwa House Logistics Trust News