Advertised office rents and vacancy rates in major cities
			Research Firm	Area	2011												2012	Time Point
					Jan.	Feb.	Mar.	Apr.	May	June	July	Aug.	Sep.	Oct.	Nov.	Dec.	Jan.
	T o k y o	Vacancy Rate (%)	Miki Shoji Latest Office Building Market Trends in Tokyo	5 central wards	9.04	9.10	9.19	8.92	8.88	8.81	8.76	8.65	8.64	8.78	8.90	9.01	9.23	The end of each month
			Building Kikaku office search	5 central wards	9.24	8.85	8.59	8.50	8.39	8.06	7.75	7.46	7.27	7.47	7.66	7.72	8.15	Monthly average
			Jones Lang LaSalle Asia Pacific Property Digest	3 central wards			5.9			5.7			4.1					Quarterly
			Sanko Estate Monthly Office Market Survey	5 central wards	6.15	6.31	6.41	6.57	6.11	6.18	6.20	6.11	5.66	5.60	5.72	5.75	5.65	The beginning of each month
		Rent (yen/tsubo)	Miki Shoji Latest Office Building Market Trends in Tokyo	5 central wards	17,548	17,512	17,495	17,419	17,400	17,292	17,225	17,136	17,056	17,011	16,973	16,932	16,920	The end of each month
			Building Kikaku office search	5 central wards	20,027	19,713	19,646	19,583	19,517	19,339	19,264	19,249	19,204	18,955	18,628	18,618	18,574	Monthly average
			Jones Lang LaSalle Asia Pacific Property Digest	3 central wards			29,505			27,407			27,286					Quarterly
			Sanko Estate Monthly Office Market Survey	5 central wards	18,875	18,477	18,222	18,398	18,333	18,018	17,593	17,372	17,555	17,491	17,405	17,310	17,351	The beginning of each month
	N a g o y a	Vacancy Rate (%)	Miki Shoji Latest Office Building Market Trends in Tokyo	Business districts	12.97	13.11	12.82	12.66	12.51	12.41	12.14	11.91	11.84	11.80	11.65	11.62	11.41	The end of each month
			Building Kikaku office search	Main districts	15.64	15.51	14.89	14.52	14.00	13.90	13.88	14.05	13.88	13.03	13.72	13.49	13.03	Monthly average
			Sanko Estate Monthly Office Market Survey	Nagoya city	12.17	11.93	11.62	11.57	11.13	11.02	10.86	10.97	10.06	9.94	9.62	9.25	8.99	The beginning of each month
		Rent (yen/tsubo)	Miki Shoji Latest Office Building Market Trends in Tokyo	Business districts	11,138	11,115	11,122	11,113	11,124	11,116	11,100	11,077	11,061	11,060	11,045	11,060	11,100	The end of each month
			Building Kikaku office search	Main districts	15,734	15,513	15,454	15,312	15,447	15,048	14,985	15,146	15,280	13,160	12,472	11,880	11,546	Monthly average
			Sanko Estate Monthly Office Market Survey	Nagoya city	8,722	8,743	8,706	8,690	8,673	8,621	8,562	8,539	8,527	8,529	8,515	8,521	8,528	The beginning of each month
	O s a k a	Vacancy Rate (%)	Miki Shoji Latest Office Building Market Trends in Tokyo	Business districts	12.02	11.93	12.40	11.98	12.00	11.76	11.62	11.49	11.24	11.78	11.27	10.85	10.74	The end of each month
			Building Kikaku office search	Main districts	10.67	10.61	10.62	10.34	10.23	10.13	10.03	10.04	12.54	12.10	12.32	11.84	11.53	Monthly average
			Sanko Estate Monthly Office Market Survey	Osaka city	10.77	10.54	10.42	10.42	11.31	11.37	11.09	10.49	10.54	10.63	10.48	9.98	9.90	The beginning of each month
		Rent (yen/tsubo)	Miki Shoji Latest Office Building Market Trends in Tokyo	Business districts	11,971	11,942	11,904	11,902	11,852	11,818	11,768	11,762	11,754	11,707	11,705	11,661	11,655	The end of each month
			Building Kikaku office search	Main districts	11,182	11,137	11,159	11,131	10,664	10,676	10,626	10,400	10,380	10,383	10,352	10,308	10,158	Monthly average
			Sanko Estate Monthly Office Market Survey	Osaka city	8,264	8,276	8,293	8,293	8,385	8,421	8,345	8,379	8,326	8,278	8,227	8,175	8,111	The beginning of each month
	F u k u o k a	Vacancy Rate (%)	Miki Shoji Latest Office Building Market Trends in Tokyo	Business districts	14.59	14.65	14.32	14.13	13.95	13.66	13.66	13.83	13.73	13.24	13.35	13.23	13.16	The end of each month
			Building Kikaku office search	Main districts	13.94	13.67	14.31	13.43	13.57	13.01	13.19	13.10	13.05	12.93	12.47	12.40	12.22	Monthly average
			Sanko Estate Monthly Office Market Survey	Fukuoka city	11.39	11.16	11.32	11.08	11.11	11.02	11.06	10.89	10.86	10.69	10.62	10.46	10.18	The beginning of each month
		Rent (yen/tsubo)	Miki Shoji Latest Office Building Market Trends in Tokyo	Business districts	9,571	9,551	9,542	9,551	9,527	9,519	9,479	9,469	9,455	9,443	9,425	9,422	9,417	The end of each month
			Building Kikaku office search	Main districts	10,141	10,221	10,326	9,964	9,813	9,811	9,913	9,814	9,870	9,824	9,767	9,816	9,679	Monthly average
			Sanko Estate Monthly Office Market Survey	Fukuoka city	8,960	8,940	8,966	8,929	8,952	8,974	8,966	9,000	8,852	8,854	8,847	8,905	8,864	The beginning of each month
	[Subject of the survey] Miki Shoji: Buildings with a standard floor space of 100 tsubos (330 m2) or more. Advertised rents exclude common service fees. Building Kikaku: Buildings with a standard floor space of 100 tsubos (330 m2) or more. Advertised rents include common service fees. Jones Lang LaSalle: Grade A office buildings located in three central wards of Tokyo (Chiyoda, Chuo, Minato). Advertised rents exclude common service fees. Sanko Estate:Buildings with a standard floor space of 200 tsubos (661 m2) or more. Advertised rents exclude common service fees.
	[Notes] 3 central wards : Chiyoda-ku, Chuo-ku, Minato-ku 5 central wards : Chiyoda-ku, Chuo-ku, Minato-ku, Shinjuku-ku, Shibuya-ku Rent solely indicates the monthly asking rent per tsubo (approx. 3.3 m2)
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