Make The World
More Sustainable[Provisional Translation Only]
This English translation of the original Japanese document is provided solely for information purposes.
Should there be any discrepancies between this translation and the Japanese original, the latter shall prevail.

September 27, 2019
IssuerIchigo Hotel REIT Investment Corporation (“Ichigo Hotel,” 3463)
1-1-1 Uchisaiwaicho, Chiyoda-ku, Tokyo
Representative: Osamu Miyashita, Executive Director
www.ichigo-hotel.co.jp/english
Asset Management Company
Ichigo Investment Advisors Co., Ltd.
Representative: Hiroshi Iwai, President
Inquiries: Hiroto Tajitsu, Head of Administration
Tel: +81-3-3502-4892

Changes in Officers and Organization ofAsset Management Company
Ichigo Investment Advisors (“IIA”), the asset management company of Ichigo Hotel, decided
today on the following changes to its officers and organization, effective October 1, 2019, tostrengthen its asset management functions and governance.
Statutory Executive Officers (from October 1, 2019)Name

New Position

Current Position
Chairman & Statutory Executive
Officer (Overall Company
Management, Acquisitions & Sales)
Head of Acquisitions & Sales
Division
Executive Managing Director &Statutory Executive Officer(Ichigo Office), Head of Ichigo
Office Portfolio Management
Senior Statutory Executive Officer(Ichigo Green), Head of Ichigo Green
Asset & Portfolio Management

Wataru Orii

Chairman & Statutory ExecutiveOfficer (Overall Company)

Shinichi Fukasawa

Executive Managing Director &Statutory Executive Officer(Ichigo Office)Takayoshi Hiiro

Senior Statutory Executive Officer(Ichigo Green)

Masanori Kubota

Statutory Executive Officer(AM Execution)

Statutory Executive Officer (Finance)

Hiroto Tajitsu

Statutory Executive Officer(Business Planning)

Statutory Executive Officer(Administration)

Hidehito IwasakaStatutory Executive Officer(Ichigo Hotel), Head of Ichigo Hotel
Asset Management

Statutory Executive Officer(Ichigo Hotel), Head of Ichigo Hotel
Asset & Portfolio Management

1Corporate Reorganization
IIA is eliminating what had been a separate Finance Division to integrate its functions
into the divisions responsible for managing Ichigo Office, Ichigo Hotel, Ichigo Green,and Private Funds, respectively, to increase the autonomy and capabilities of thesedivisions. IIA is also establishing a new AM Execution Division to handle contract
documentation, regulatory disclosures, and investor relations.
IIA Organization Chart
Before Change
AGM
Nominating
Committee

Audit Committee

Board of Directors

Compensation
Committee

ChairmanInternal Audit

President

Risk & Compliance Committee

ComplianceInv estment Committee(Ichigo Office)Inv estment Committee(Ichigo Hotel)

Inv estment Committee(Ichigo Green)Inv estment Committee(Priv ate Funds)

Acquisitions & Sales

Ichigo Office

Ichigo Hotel

Ichigo GreenPrivate Funds

Finance

Administration

Acquisitions & Sales

Asset Management
Portfolio Management

Asset & Portfolio
Management

Asset & Portfolio
Management

Portfolio Management

Finance
Accounting

Business PlanningIR

AM Execution

Business Planning

After Change (effective October 1, 2019)
AGM
Nominating
Committee

Audit Committee

Board of Directors

Compensation
Committee

ChairmanInternal Audit

President

Risk & Compliance Committee

ComplianceInv estment Committee(Ichigo Office)Inv estment Committee(Ichigo Hotel)

Inv estment Committee(Ichigo Green)Inv estment Committee(Priv ate Funds)

Ichigo Office

Ichigo Hotel

Ichigo GreenPrivate Funds

Asset Management

Asset Management

Asset Management

Asset Management

Acquisitions & Sales

These changes in officers and organization will be conducted in accordance with theprovisions of the Financial Instruments and Exchange Law, the Building Lots andBuildings Transaction Business Law, and other applicable laws and regulations.

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