January 8, 2021
For Immediate Release
Real Estate Investment Trust Securities Issuer
Star Asia Investment Corporation
Representative: Atsushi Kato, Executive Director(Code: 3468)
Asset Manager
Star Asia Investment Management Co., Ltd.
Representative: Atsushi Kato
President and CEO
Contact: Akiko Kanno
Director and CFO
TEL: +81-3-5425-1340

Notice concerning the Formulation of the ESG Policy etc.
and Associated Change in Organization of the Asset Manager
Star Asia Investment Management Co., Ltd. (the “Asset Manager”), to which Star Asia Investment Corporation(“SAR”) entrusts the management of its assets, recognizes that it is important for SAR to fulfill its social role as alisted REIT and to pursue the maximization of unitholders’ interests, as well as the necessity to contribute to thereduction of environmental load and to resolve social issues.
The Asset Manager has recently formulated the ESG Policy with the objective to pursue long-term sustainabilityof SAR and to increase its corporate value, and has decided on certain changes to the organization of the AssetManager. Details are as follows.
1.

Objective of Formulation of the ESG Policy etc. and the Change in Organization
The “ESG Policy” has been formulated with the objective to further strengthen the ESG initiatives at the AssetManager, and furthermore, the “Sustainability Promotion Division” has been newly established in order to clarify
the responsible organ for taking ESG initiatives, and the “Sustainability Promotion Committee” has been
established as the screening and decision-making entity for ESG related measures etc.
The Sustainability Promotion Division is the division responsible for ESG related initiatives, and is in charge ofoptimizing capital expenditures and repair expenses for the maintenance and enhancement of the asset values ofproperties held by SAR through ESG initiatives. As the General Manager of the division, we have hired a personwith abundant experience in facilities construction management of construction works, preparation ofengineering reports, and building quality control etc. (please refer to Exhibit 2 “Biography etc. of General
Manager of Sustainability Promotion Division”). The General Manager of the Sustainability Promotion Division
will assume the post of Chairman of the Sustainability Promotion Committee, and will also take on the role ofExecutive Officer in charge of ESG related measures.
Furthermore, as a part of our efforts to strengthen ESG, we are planning to participate in this year’s “GRESBReal Estate Assessment” (see Note).
(Note) The GRESB assesses and benchmarks consideration towards Environmental, Social and Governance (ESG) (ESG) in
the real estate sector, founded in 2009 by a group of major pension funds in Europe. The “GRESB Real Estate Assessment”
does not assess individual real estate properties, but comprehensively assesses initiatives and efforts towards sustainability
taken by individual real estate companies and REITs.

12. Organizational Change at the Asset Manager(1)
Newly Established Division and Committee
Division:Sustainability Promotion Division
Committee: Sustainability Promotion Committee(2)

Organization Chart
As per the Exhibit 1.

(3)

Date of Change
January 8, 2021

3. Newly Established Internal Rules etc.
(1)
Newly formulated policy and newly established rules
1. ESG Policy
2. Sustainability Promotion System Rules
3. Sustainability Committee Rules※ Apart from the above stated policy and rules, necessary changes to internal rules have been
made in association with the establishment of a new department.
(2)

Date of EnactmentJanuary 8, 2021

In relation to the above matter, necessary notifications will be submitted in accordance with the Financial
Instruments and Exchange Act, the Real Estate Brokerage Act, and other applicable laws and regulations.
<Attachments>
Exhibit 1: Organization Chart Etc.
Exhibit 2: Biography etc. of General Manager of Sustainability Promotion Division＊ Star Asia Investment Corporation website address: http: //starasia-reit.com

This is an English translation of the announcement in Japanese dated January 8, 2021. However, no assurance orwarranties are given for the completeness or accuracy of this English translation.

2

[EXHIBIT 1] Organization Chart Etc.
< Before change >Shareholder’s Meeting

Corporate Auditor

Bord of Directors Meeting

Investment Committee

Compliance Committee

President and CEO

Compliance Officer

Investment Management Division

Finance Management Division3

< After change >Shareholder’s Meeting

Corporate Auditor

Bord of Directors Meeting

Compliance Committee
Sustainability Promotion
Committee
Investment Committee

President and CEO

Compliance Officer

Investment ManagementDivision

Sustainability
Promotion Division

4

Finance ManagementDivision<Outline of Business>
Name of Organization
Sustainability Promotion Division

Outline of Business(1) Matters related to the promotion of ESG at the entrusted investment company,
based on the ESG Policy.
(2) Matters related to the maintenance and enhancement of asset value ofproperties managed by the entrusted investment company.
(3) Matters related to the real estate condition survey and environmental survey ofthe managed assets including acquired real estate.
(4) Other matters related to each of the above stated matters.
The Sustainability Promotion Division shall assist in the matters listed in (2) and (3)above by providing advice to the business of the Investment Management Division.

<Sustainability Promotion Committee>
Members
Chief Executive Officer in charge of Sustainability, Executive Officer in charge ofSustainability, the Representative Director, Directors, General Manager of theInvestment Management Division, General Manager of the Finance ManagementDivision, General Manager of the Sustainability Promotion Division, and theCompliance Officer.
Chairman
General Manager of the Sustainability Promotion Division
Frequency of Meetings
In principle, once every 3 months, however more frequently if necessary.
Matters to be Deliberated(1) Deliberations related to the sustainability objective and plan for each fiscal year.
(2) Matters related to extraction of issues on sustainability and determining theorder of priority of important issues.
(3) Matters related to initiatives to be taken for sustainability measures (ESG
activities, obtaining various types of certifications etc.)(4) Matters related to the status of progress etc. of sustainability measures.
(5) Other matters which the Sustainability Promotion Committee or the Chairman ofthe Committee recognize to be necessary.

5

【EXHITIB 2】Biography etc. of General Manager of Sustainability Promotion Division
Job Title:
Full Name:
Biography:

General Manager of Sustainability Promotion Division
Tetsuya Makino
At his former employer, during 10 years, as the initial member of establishing a new division,
Makino was in charge of developing the customer base, building a network of external inspectors,
expanding services, and personnel recruitment, and also as the general manager of the businessdivision, Makino supervised and was also personally involved in the implementation of all business
operations necessary for expanding sales.
Before that, over 14 years, Makino worked for a construction and real estate consulting firm as
well as a general contractor firm, where he was in charge of providing engineering reports to realestate funds in Japan and abroad, financial institutions, and operating companies, bidding for new
construction works, repair works, and office relocation projects, and also engaged in appraisals,
budget control, and quality control. At the general contractor firm, as the person in charge offacilities, Makino was engaged in facilities construction management for multiple properties. Hewas also engaged in on-site construction management of equipment facilities and electricalequipment, negotiation of additions and changes with construction clients and architect offices,cost estimate evaluations, adjustments, negotiations and construction completion inspection withcooperating operators.
Main Qualifications: Building Mechanical and Electrical Engineer, First-Class Plumbing Work Operation andManagement Engineer, etc.
Main Career History:
Main Career History
April 1995

October 2003

May 2010

January 2021

Joined Kumagai Gumi Co. Ltd.
・During the initial 2 years after joining, involved in on-site construction management as
the construction manager.
・As the person in charge of equipment facilities construction works and electricalfacilities construction works, engaged in on-site construction management at multiple
sites.
Joined Index Consulting Inc.
・In charge of building inspections (engineering reports)
・In charge of project management for repair works and new construction works.
・After working as Director in the project management of renovation and relocation
projects and facilities management division, presided over the business as Managing
Director.
Joined Bureau Veritas Japan K.K.
・Newly established the inspection business division for managed properties (businessoperations for periodic reporting under the Building Standards Act, exterior walls
surveys, inspection of fire-extinguishing facilities, electrical safety, deterioration surveys,
energy control and support, and facilities commissioning etc.)
・Formulate an inspection implementation system within and outside of the company.
Joined Star Asia Investment Management Co., Ltd.
General Manager of Sustainability Promotion Division6