July 5, 2019
For Immediate Release
Real Estate Investment Trust Securities Issuer
Star Asia Investment Corporation
Representative: Atsushi Kato, Executive Director(Code: 3468)
Asset Management Company
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 Early Repayment of Borrowings
Star Asia Investment Corporation (SAR) announces today that it has decided on early repayment of borrowings(the “Early Repayment”), as described below.

1. Details of Early Repayment(1) Repayment amount:(2) Repayment date:(3) Source for repayment:

460 million yen
July 22, 2019
Although SAR assumes it will execute the repayment using the refund ofconsumption tax and local consumption tax related to the payment ofproperty acquisition expenses and other expenses (the “Refund”), it has notreceived the Refund as of today. If SAR does not receive the Refund by therepayment date, it shall carry out the Early Repayment using cash on hand.
SAR expects to receive the Refund in mid-July or later.

2. Summary of Borrowings for which Early Repayment will be Executed
Short-term Borrowings (Note 1) (Announced in the “Notice Concerning Debt Financing” dated August 21, 2018 )Term

LenderBorrowing amount
before the Early
Repayment(million yen)Interest
rate

Date ofborrowing

Borrowing
methodMaturity
date

Repayment
methodSecurity

Borrowing basedon individual
term loan
agreement dated
Sumitomo
Base
September
Lump sum
Mitsuiinterest
4, 2018 based on
repayment
460
Unsecured
Banking
rate (JBA 1August
Short-termon
September basic agreement
Corporation
month yen
20, 2019and(Note 2)
dated April 15,
maturity
6, 2018unguaranteedand MizuhoTIBOR)
2016 assuming
dateBank, Ltd.
+0.20%
Sumitomo MitsuiBanking
Corporation asthe agent(Note 1) Short-term refers to borrowings due within one year. The same applies hereinafter.
(Note 2) The amount is the balance after conducting the partial early repayment of borrowings announced in “Notice Concerning
Partial Early Repayment of Borrowings” dated October 4, 2018.

1

3. Status of Loans, etc. after Early Repayment(Unit: million yen)
Before the EarlyRepayment
460
51,58052,04052,04052,040

Short-term borrowings
Long-term borrowings
Total borrowings
Investment corporation bonds
Total borrowings and Investment corporation bonds
Other interest-bearing liabilities
Total interest-bearing liabilities

After the EarlyRepayment
51,58051,58051,58051,580Change-460-460-460-460

4. Future Outlook
Since the impact of the Early Repayment is minimal, there are no changes to the management status forecast for
the fiscal period ending July 31, 2019 (February 1, 2019 to July 31, 2019) and fiscal period ending January 31, 2020
(August 1, 2019 to January 31, 2020) announced in “Financial Report for Fiscal Period Ended January 31, 2019(REIT)” dated March 15, 2019.
5. Other Matters Required for Investors to Appropriately Understand and Evaluate the above Information
In conjunction with the risks pertaining to the Early Repayment, etc. there are no changes to “Part 1. Fund
Information, I. Overview of the Fund, 3. Investment Risks” stated in the semiannual securities report (Japaneseonly) on April 25, 2019.

* Star Asia Investment Corporation website address: http://starasia-reit.com/en/2