Corporate digest

Saizen Reit

SAIZEN Real Estate Investment Trust (Reit) is cutting its interim distribution per unit by 8.7 per cent to 2.83 Singapore cents because of a weaker Japanese yen and a higher number of issued units.

Total return attributable to unitholders fell 19.2 per cent to 369.4 million yen (S$4.6 million) in the second fiscal quarter ended December 2015. This comes as net property income slipped 0.5 per cent to 682.7 million yen, said the manager of the Japanese residential Reit.

For the six-month period, total return attributable to unitholders dropped 35.8 per cent to 573.5 million yen as net property income shed 0.8 per cent t…