According to the REIT manager, it had hedged its net income from Japan, which means that the drop in income from the depreciation of the JPY will be compensated by the foreign exchange (FX) gains from the settlement of the forward contracts.
Parkway Life REIT (PLife REIT) has reported gross revenue of $89.0 million for the 9MFY2022 ended Sept 30, down 1.3% y-o-y.
The lower gross revenue was due to the depreciation of the Japanese yen (JPY) and the loss of income from the divestment of a non-core asset in early 2021. This was partly offset by contributions from three properties acquired in 2021 and five properties in 2022, as well as higher rent from the REIT’s hospitals in Singapore.
