March 16, 2018
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: Toru Sugihara
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:

280million yenApril 20, 2018
The proceeds from the issuance of new investment units by way of thethird-party allotment with February 7, 2018 as the payment deadline andcash on hand will be used for the Early Repayment. For details, please referto the“Notice Concerning Issuance of New Investment Units and Secondary
Offering of Investment Units ” dated January 12, 2018 and “NoticeConcerning Determination of the Number of New Investment Units to beIssued through Third-Party Allotment ” dated February 23, 2018)

2. Summary of Borrowings of which Early Repayment will be ExecutedLong-term Borrowings (Note 1) (Announced in the “Notice Concerning Debt Financing” dated January 12, 2018 )TermLender

Borrowing amount
before the EarlyRepayment(million yen)Interest
rate

Date ofborrowing

Borrowing
methodMaturity
date

Borrowing basedon individual
term loan
agreement dated
Sumitomo
Base
January 31, 2018
Mitsuiinterest
based on basic
Banking
1,470
rate (JBA 1FebruaryLong-term
February 2, agreement datedCorporation(Note2)
month yen
20, 2019
April 15, 20162018
and MizuhoTIBOR)
assuming
Bank, Ltd.
+0.20%
Sumitomo Mitsui
BankingCorporation asagent(Note 1) Long-term refers to borrowings due after one year. The same applies hereinafter.
(Note 2) Balance after executing the Early Repayment will be 1,190 million yen.

1

Repayment
methodLump sum
repayment
onmaturity
date

Security

Unsecured
andunguaranteed3. Status of Loans, etc. after Early Repayment(Unit: million yen)
Before the Early
Repayment
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

43,51043,51043,51043,51043,23043,23043,23043,230Change-280-280-280-280

4. Future Outlook
The Early Repayment is included in the assumptions underlying management status forecast announced in“Financial Report for Fiscal Period Ended January 31, 2018” dated March 16, 2018, and thus there are no revisions
to the management status forecasts for the fiscal period ending July 2018 (February 1, 2018 to July 31, 2018) andfor the fiscal period ending January 2019 (August 1, 2018 to January 31, 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 II. Reference
Information /II. Information Supplementary to Reference Documents/3. Investment Risks, 3. Investment Risks”
stated in the Securities Registration Statement submitted on January 12, 2018.

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

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