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GALILEO JAPAN TRUST (GJT)

GALILEO JAPAN TRUST (GJT)

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General Information
Company Name: Galileo Japan Trust
Stock Code: GJT
Website: www.galileofunds.com.au
GICS Sub-Industry: Diversified Real Estate Investment Trusts
Market Cap ($M): 7
Equiv. Shares (M): 8

Current Price Data+
Current Price Open High Low Last Close Volume Price Movement
$ 0.810 $ 0.000 $ 0.000 $ 0.000 $ 0.810 0 0%

Current Broker Consensus Recommendation more
Recommendation: Hold
Recommendation Date: 3rd Mar 2009
12 Month Target Price (average): $0.257
Brokers Surveyed: 3

Company Overview

Business Description:
Galileo Japan Trust (GJT) is a property trust which indirectly invests in a diverse portfolio of real estate assets in Japan. Galileo Japan Funds Management Limited (GJFML) is the responsible entity of the Trust.

Strategy Analysis:
Management will continue to identify strategies to enhance unitholder returns. Refinancing or repayment of short term loan maturities and addressing foreign exchange derivative contract risk are a priority due to the unprecedented economic conditions faced. Due to Japanese real estate market weakness, distributions may be severely affected. A continued focus on capital management initiatives including asset sales and introduction of new sources of capital will be kept.


Financial Summary
Year to Jun NPAT EPS EPS chg (%) PER DPS Yield (%) Franking (%)
2011  A -37.6 -463.9 -- 0.0 0.0 0.0 --
2010  A -62.2 -767.3 -- 0.0 0.0 0.0 --
2009  A -251.6 -3,101.5 NaN 0.0 1.3 0.2 --
Source: Aspect actuals / Thomson IBES estimates

Peer Comparison
EPS Growth (%) P/E (%) Dividend Yield (%)
Company Mkt Cap 2009 A 2010 F 2011 F 2009 A 2010 F 2011 F 2009 A 2010 F 2011 F
CFS Retail Property Trust (CFX) $5,338 M 0.1133 0.1320 0.0229 16.2209 14.3293 14.0089 0.0676 0.0697 0.0716
Dexus Property (DXS) $4,524 M 0.2417 -0.0793 -0.0013 11.2380 12.2063 12.2222 0.0554 0.0572 0.0604
Galileo Japan Trust (GJT) $7 M -- -- -- -- -- -- 0.0000 -- --
Goodman Gp (GMG) $5,284 M -0.3579 0.7380 0.0691 19.4191 11.1730 10.4505 0.0513 0.0540 0.0586
Investa Office Fund (IOF) $1,633 M -0.1105 0.0000 0.0705 13.3870 13.3870 12.5059 0.0586 0.0586 0.0642

Market Comparison
Earnings P/E Ratio P/B Ratio P/E Growth
GJT 2.79 -- 0.06 --
Market 1.12 11.1 0.96 2.31
Sector 1.27 12.1 0.79 2.39

Directors
Name Position Start Date
Mr Peter Craig Murphy Executive Director, Chief Operating Officer 18 December 2006
Mr Neil Werrett Managing Director, Chief Executive Officer 18 December 2006
Mr Jack Howard Ritch Non-Executive Chairman 18 December 2006
Mr Philip John Redmond Non-Executive Director 18 December 2006
Mr Frank Zipfinger Non-Executive Director 18 December 2006

Management
Name Position
Donna Duggan Company Secretary

Substantial Shareholders
Holding Name
1,156,245 (14.25%) Orbis Group
515,031 (6.35%) Galileo Japan Funds Management Limited
399,072 (4.92%) Aquapeel Pty Ltd
699,448 (8.62%) Asean Small Cap Fund

Calendar of Events
Date Event
26 February 2013 Report (Interim)
28 September 2012 Report (Annual)
28 August 2012 Report (Prelim)
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