Equity
Summary of unitholders’ equity
As of Jul. 31, 2025
- Total unitholders’ equity
- 130,579million yen
- Total number of investment units outstanding
- 2,746,163units
- Figures are as of July 31, 2025.
Changes in Total Unitholder's Equity and Total Number of Investment Units Outstanding
| Date | Summary | Issue price per unit （yen） |
Subscription price per unit （yen） |
Total Unitholder's Equity （Millions in yen） | Total Number of Investment Units Outstanding（Units） |
||
|---|---|---|---|---|---|---|---|
| Change | Balance | Change | Balance | ||||
| Feb. 22, 2005 | Establishment | 500,000 | － | 500 | 500 | 1,000 | 1,000 |
| May 6, 2005 | Equity Public Offering | 550,000 | 530,750 | 29,562 | 30,062 | 55,700 | 56,700 |
| Jun. 1, 2005 | Third-party Allotment | 530,750 | － | 1,486 | 31,548 | 2,800 | 59,500 |
| Feb. 8, 2006 | Equity Public Offering | 793,800 | 767,070 | 35,668 | 67,217 | 46,500 | 106,000 |
| Mar. 8, 2006 | Third-party Allotment | 767,070 | － | 2,147 | 69,365 | 2,800 | 108,800 |
| Aug. 31, 2007 | Equity Public Offering | 971,180 | 937,486 | 12,656 | 82,021 | 13,500 | 122,300 |
| Feb. 23, 2010 | Equity Public Offering | 624,680 | 602,784 | 5,123 | 87,145 | 8,500 | 130,800 |
| Mar. 25, 2010 | Third-party Allotment | 602,784 | － | 301 | 87,446 | 500 | 131,300 |
| Aug. 30, 2010 | Equity Public Offering | 627,590 | 605,592 | 9,689 | 97,136 | 16,000 | 147,300 |
| Sep. 24, 2010 | Third-party Allotment | 605,592 | － | 423 | 97,559 | 700 | 148,000 |
| Sep. 13, 2013 | Distribution in Excess of Earnings (*1) | － | － | -464 | 97,095 | － | 148,000 |
| Oct. 2, 2013 | Equity Public Offering | 947,700 | 914,652 | 14,634 | 111,729 | 16,000 | 164,000 |
| Oct. 28, 2013 | Third-party Allotment | 914,652 | － | 1,829 | 113,559 | 2,000 | 166,000 |
| Feb. 1, 2014 | Investment Unit Split (*2) | － | － | － | 113,559 | 664,000 | 830,000 |
| Sep. 16, 2015 | Equity Public Offering | 191,782 | 185,290 | 8,801 | 122,360 | 47,500 | 877,500 |
| Oct. 15, 2015 | Third-party Allotment | 185,290 | － | 463 | 122,823 | 2,500 | 880,000 |
| Sep. 27, 2017 | Equity Public Offering | 206,017 | 199,044 | 8,509 | 131,332 | 42,750 | 922,750 |
| Oct. 19, 2017 | Third-party Allotment | 199,044 | － | 447 | 131,780 | 2,250 | 925,000 |
| Jul. 13, 2018 | Cancellation (*3) | － | － | -2,436 | 129,344 | -11,000 | 914,000 |
| Jan. 11, 2019 | Cancellation (*4) | － | － | -1,999 | 127,344 | -8,927 | 905,073 |
| Feb. 21, 2022 | Equity Public Offering | 297,430 | 287,414 | 8,314 | 135,658 | 28,927 | 934,000 |
| Jan. 31, 2024 | Cancellation (*5) | － | － | -936 | 134,721 | -3,300 | 930,700 |
| Jan. 31, 2025 | Cancellation (*6) | － | － | -2,652 | 132,069 | -9,979 | 920,721 |
| Feb. 1, 2025 | Investment Unit Split (*7) | － | － | － | 132,069 | 1,841,442 | 2,762,163 |
| Jul. 31, 2025 | Cancellation (*8) | － | － | -1,490 | 130,579 | -16,000 | 2,746,163 |
- Distribution in Excess of Earnings was resolved at the price of 3,138 yen per unit in order to level out the loss associated with OBR.
- JLF has implemented a 5-for-1 investment unit split.
- Investment units were bought back through open-market transactions on the Tokyo Stock Exchange from March 14, 2018 to May 31, 2018 based on a discretionary transaction contract with a securities company. All the acquired investment units were cancelled on July 13, 2018 based on a resolution at a meeting of the Board of Directors of JLF held on June 27, 2018.
- Investment units were bought back through open-market transactions on the Tokyo Stock Exchange from September 13, 2018 to October 31, 2018 based on a discretionary transaction contract with a securities company. All the acquired investment units were cancelled on January 11, 2019 based on a resolution at a meeting of the Board of Directors of JLF held on November 28, 2018.
- Investment units were bought back through open-market transactions on the Tokyo Stock Exchange from November 24, 2023 to January 12, 2024 based on a purchase contract with a securities company. All the acquired investment units were cancelled on January 31, 2024 based on a resolution at a meeting of the Board of Directors of JLF held on November 22, 2023.
- Investment units were bought back through open-market transactions on the Tokyo Stock Exchange from September 12, 2024 to December 30, 2024 based on a purchase contract with a securities company. All the acquired investment units were cancelled on January 31, 2025 based on a resolution at a meeting of the Board of Directors of JLF held on September 11, 2024.
- JLF has implemented a 3-for-1 investment unit split.
- Investment units were bought back through open-market transactions on the Tokyo Stock Exchange from March 13, 2025 to June 30, 2025 based on a purchase contract with a securities company. All the acquired investment units were cancelled on July 31, 2025 based on a resolution at a meeting of the Board of Directors of JLF held on March 12, 2025.
Top Ten Unitholders
As of Jan. 31, 2025
| Name |
The Number of Units Owned |
Ratio to Total Units Outstanding (%) * |
|---|---|---|
| Custody Bank of Japan, Ltd. (Trust Account) | 266,387 | 28.9 |
| The Master Trust Bank of Japan, Ltd. (Trust Account) | 170,822 | 18.5 |
| The Nomura Trust and Banking Co., Ltd. (Investment Trust Account) | 43,251 | 4.6 |
| THE NOMURA TRUST AND BANKING CO., LTD. AS THE TRUSTEE OF REPURCHASE AGREEMENT MOTHER FUND | 15,895 | 1.7 |
| STATE STREET BANK WEST CLIENT - TREATY 505234 | 14,689 | 1.5 |
| Meiji Yasuda Life Insurance Company | 14,348 | 1.5 |
| STATE STREET BANK AND TRUST COMPANY 505103 | 10,617 | 1.1 |
| MetLife Insurance K.K. | 9,100 | 0.9 |
| Mitsui&Co. Asset Management Holdings LTD. | 8,220 | 0.8 |
| SMBC Nikko Securities Inc. | 8,033 | 0.8 |
- Figures in Ratio to Total Units Outstanding are rounded down to the nearest two decimal places.
Unitholders' Composition
As of Jan. 31, 2025
By the Number of Units Total920,721units
| Unitholders | the Number of Units (Units) | Ratio (%) |
|---|---|---|
| Investment trusts | 362,367 | 39.4 |
| Banks | 72,882 | 7.9 |
| Trust banks | 135,359 | 14.7 |
| Insurance companies | 30,759 | 3.3 |
| Other financial institutions | 52,341 | 5.7 |
| Securities companies | 31,493 | 3.4 |
| Overseas investors | 144,495 | 15.7 |
| Retail investors | 62,199 | 6.8 |
| Others | 28,826 | 3.1 |
| Total | 920,721 | 100.0 |
- Figures in Ratio to Total Units Outstanding are rounded to the first decimal place.