--- title: "Daiwa House Logistics Trust's distribution per unit in the second half of the year decreased by 10.7% to 2.09 cents | Lianhe Zaobao" type: "News" locale: "en" url: "https://longbridge.com/en/news/277124072.md" description: "Daiwa House Logistics Trust released its fiscal year 2025 performance report, showing a 10.5% year-on-year decline in distributable income for the second half of last year to 14.68 million yuan, with a distribution per unit (DPU) of 2.09 cents, down 10.7% year-on-year. The total distributable income for the year decreased by 9.4% year-on-year to 30.38 million yuan, with a distribution per unit of 4.33 cents, a decrease of 9.6% year-on-year. The net real estate income for the second half reached 21.68 million yuan, down 4.3% year-on-year; the total net real estate income for the year was 44.20 million yuan, an increase of 0.7% compared to the previous fiscal year" datetime: "2026-02-27T01:12:17.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/277124072.md) - [en](https://longbridge.com/en/news/277124072.md) - [zh-HK](https://longbridge.com/zh-HK/news/277124072.md) --- # Daiwa House Logistics Trust's distribution per unit in the second half of the year decreased by 10.7% to 2.09 cents | Lianhe Zaobao Daiwa House Logistics Trust reported a 10.5% year-on-year decline in distributable income for the second half of last year to SGD 14.68 million, with a distribution per unit (DPU) of 2.09 cents, a decrease of 10.7% year-on-year. For the full year, distributable income fell 9.4% year-on-year to SGD 30.38 million, with a DPU of 4.33 cents, down 9.6% year-on-year. The trust management company released its fiscal year 2025 performance report as of the end of December last year before the market opened on Friday (February 27). The decline in full-year distributable income was mainly due to reduced foreign exchange gains and increased interest expenses. Net property income for the second half reached SGD 21.68 million, a year-on-year decrease of 4.3%; for the full year, net property income was SGD 44.20 million, an increase of 0.7% compared to SGD 43.89 million in the same period of the previous fiscal year. In a statement, the trust noted that the growth in net property income for the full year 2025 was primarily due to the acquisition of the DPL Gunma Fujioka warehouse in Japan in March 2025 and contributions from the Vietnam asset D Project Tan Duc 2, although this was partially offset by certain property vacancy rates and weakened foreign exchange. #### Further Reading Daiwa House Logistics Trust's distributable income fell 8.4% year-on-year in the first nine months As of the end of December last year, the trust's portfolio occupancy rate was 87.8%, with a weighted average lease expiry (WALE) of 6.6 years. The portfolio valuation reached SGD 835.20 million. Looking ahead, the trust expects the long-term fundamentals of the Japanese logistics industry to remain strong, with e-commerce being a key demand driver. In recent years, Japan's e-commerce sector has steadily grown, and the trust is optimistic about the local market's potential for further growth, which will continue to support the development of the logistics industry. The trust's stock price closed at SGD 0.555 on Thursday (26th), down 0.89% ### Related Stocks - [DHLU.SG](https://longbridge.com/en/quote/DHLU.SG.md) ## Related News & Research - [Think Twice Before You Make A Cash Offer On That Home — Your Money May Be Better Off Invested](https://longbridge.com/en/news/286566627.md) - [Marketing Alliance sells Empire Construction assets, related real estate](https://longbridge.com/en/news/286616900.md) - [Investor interest in global proptech solutions surged last year. Here are three emerging opportunities to watch in 2026](https://longbridge.com/en/news/286681577.md) - [08:33 ETTruss Financial Group Launches End-to-End Digital HELOC to Unlock Home Equity in Days, Not Weeks](https://longbridge.com/en/news/286771722.md) - [Ares Real Estate Income Trust posts April NAV $3.409B, NAV per share $8.164; 94.5% leased portfolio](https://longbridge.com/en/news/286599179.md)