July 24, 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: 03-5425-1340

Important Notice Regarding the Sakura Sogo REIT Unitholders’ Meeting
to be Convened by Lion Partners(Scheduled to begin from 10:00 am on Friday August 30, 2019 )Star Asia Investment Corporation (“SAR”) and Star Asia Investment Management Co., Ltd. (the “AssetManager”), the asset manager for SAR, received a notice today from Lion Partners GK (“LPGK”, Representative
Director: Toru Sugihara), an affiliate of Star Asia Group. LPGK is one of the largest unitholders of Sakura Sogo
REIT Corporation (“SSR”) and as of June 30, 2019 holds (3.6% of the total investment units of SSR. Details are asfollows:
1.

LPGK’s views regarding the inappropriate and inaccurate documents sent by SSR to SSR unitholders
SSR, which has continued to reject several legitimate requests made by unitholders to convene a general
meeting of unitholders, has sent to all of the SSR unitholders documents (hereinafter referred to as the “RelevantDocuments”)) including the appendix attached hereto. (available in Japanese language only) This SSR
unitholders’ meeting is being held pursuant to the official decision of permission received by LPGK from theDirector-General of the Kanto Finance Bureau (scheduled to begin from 10:00 am on Friday August 30, 2019)(hereinafter referred to as the “LPGK Unitholders’ Meeting”). The proposed agenda items stated in the Relevant
Documents are not agenda items put forth by LPGK who has the clear right to convene the unitholders’ meeting,and LPGK had nothing to do with the contents of the agenda. LPGK, as the recognized holder of the right toconvene the LPGK Unitholders’ Meeting, finds SSR’s actions deeply regrettable and deplorable. SSR isinappropriately soliciting proxies which is being doneintentionally to cause confusion among SSR unitholders.
These actions are occuring while proceedings are currently pending in Court with respect to the unitholders’meeting convened by the SSR side.
LPGK, as holder of the clear right to convene the LPGK Unitholders’ Meeting, is carefully considering mattersrelated to the convocation of the LPGK Unitholders’ Meeting including the proposed agenda items for the LPGK
Unitholders’ Meeting, and is in the process of separately preparing detailed explanation materials in order tocommunicate to all of the SRR unitholders in straightforward and easy-to-understand manner with respect to Star
Asia Group’s approach and course of action to maximize value for all SSR unitholders.
We kindly ask that all SSR unitholders do not take any action at this point and refuse to be, misled by thedocuments sent inappropriately by SSRat this time. We believe that it is in the best interest of all unitholders tomake your decisions after having received the convocation notice for the LPGK Unitholders’ Meeting and the1related reference documents. The notice and documents will be sent after LPGK, as the clear holder of the rightto convene the LPGK Unitholders’ Meeting, has officially decided on the proposed agenda items for the LPGK
Unitholders’ Meeting.
Also, in the Relevant Documents, there is a statement regarding the creation of a call center. To reiterate, SSR
is not the organizer of the LPGK Unitholders’ Meeting. We are warning unitholders to not be misled by inaccurate
information provided by the call centerset up by SSR. You will not be able to obtain accurate information about thelegitimate LPGK Unitholders’ Meeting.
If you should have any questions regarding the LPGK Unitholders’ Meeting (scheduled to begin at 10:00 am on
August 30 (Friday)), please contact LPGK directly (TEL: 03-4577-7871 / E-mail: info@starasia-lp.com).

1.

Reference Information
Please also refer to the following press releases for further information.
<Disclosed on May 10th, 2019>・ Notice Concerning Proposal for Merger between Sakura Sogo REIT Investment Corporation and Star AsiaInvestment Corporation
・Supplementary Explanatory Material Regarding Today’s Timely Disclosure (1)~Proposal Material from the Star Asia Group to all unitholders of Sakura Sogo REIT Investment Corporation~
・Supplementary Explanatory Material Regarding Today’s Timely Disclosure (2)~Explanatory Material to all unitholders of Star Asia Investment Corporation~<Disclosed on May 16th, 2019>
・Notice Concerning Application for Permission of Holding Sakura Sogo REIT Investment Corporation’s Unitholders’Meeting by Star Asia Group<Disclosed on June 28th, 2019>
・Star Asia Group Receives Approval to Hold Unitholders’ Meeting of Sakura Sogo REIT Investment Corporation<Disclosed on July 1st, 2019>
・Notice Concerning Holding Unitholders' Meeting of Sakura Sogo REIT Investment Corporation By Star Asia Group<Disclosed on July 4th, 2019>
・Lion Partners Files Petition with Tokyo District Court Seeking Injunction Given Illegal Acts Conducted by the
Executive Director of Sakura Sogo REIT (“SSR”). Also Takes Other Further Actions to Protect and Defend the BestInterests of SSR Unitholders<Disclosed on July 5th, 2019>・Supplementary Explanatory Material Regarding Timely Disclosure announced on July 4th, 2019
<Disclosed on July 17th, 2019>
・Lion Partners to Acquire Additional Investment Units of Sakura Sogo REIT
<Disclosed on July 19th, 2019>
・Lion Partners－Further Increases Amount of Additional Acquisition of Sakura Sogo REIT Units－
3. Future Policy2

If circumstances should arise which warrant further disclosures, such matters shall be disclosed as deemed
appropriate in a timely manner.
＊ SAR HP URL: http://starasia-reit.com＊ Star Asia Group HP URL: http://starasiamanagement.com/＊ SAR official YouTube channel URL: https://www.youtube.com/channel/UCYasJn4xrns2fhyZFKMAELw
This is an English translation of the announcement in Japanese dated July 24, 2019. However, no assurance or warranties aregiven for the completeness or accuracy of this English translation.

3