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.

November 7, 2023
IssuerIchigo Office REIT Investment Corporation (“Ichigo Office,” 8975)
1-1-1 Uchisaiwaicho, Chiyoda-ku, Tokyo
Representative: Keisuke Chiba, Executive Director
www.ichigo-office.co.jp/en
Asset Management Company
Ichigo Investment Advisors Co., Ltd.
Representative: Hiroshi Iwai, President
Inquiries: Yuji Kamo, Head of Ichigo OfficeTel: +81-3-3502-4891

Ichigo Office Portfolio Occupancy (Flash Data) – October 2023

TotalOffice
OtherCentral Tokyo
Tokyo
Metropolitan
By Area Area
Four Major
Regional Cities
Other RegionalCities
No. of Assets
No. of Tenants
Leasable Area
Leased Area
By Asset
Type

September 2023
(Final: A)

October 2023
(Flash: B)

Difference(B) - (A)

96.6%
96.6%
97.0%
96.3%

96.8%
96.7%
100%
96.2%

+0.2%
+0.1%
+3.0%
-0.1%

95.0%

96.0%

+1.0%

97.3%

97.1%

-0.2%

99.6%

99.5%

-0.1%

88
1,011
269,739.50m2
260,689.69m2

88
1,008
269,100m2
260,400m2–-3

Notes:
1. The above are unaudited month-end figures.
2. Leasable Area is the total area of space available for leasing, and may have small
adjustments due to renovations or variations in rental contract terms.
3. Central Tokyo refers to Chiyoda, Minato, Chuo, Shinjuku, Shibuya, and Shinagawa
Wards. Tokyo Metropolitan Area refers to Tokyo (excluding the six wards above),
Kanagawa, Chiba, and Saitama Prefectures. Four Major Regional Cities refers toOsaka, Nagoya, Fukuoka, and Sapporo.

1Explanation of Changes
Although occupancy decreased for Central Tokyo, Four Major Regional Cities, andOther Regional Cities due to departing tenants at the Ichigo Jimbocho Building andIchigo Hakataeki Higashi Building, occupancy increased for Office and Tokyo
Metropolitan Area due to new tenants at the Ichigo Tachikawa Building and Ichigo
Ningyocho Building.
Leasable area has decreased after the sale of the Twicere Yokohama Isogo (retailsection) on October 30, 2023, and the acquisition of the Ichigo Kinshicho South
Building on October 31, 2023.
For details on the asset sale, please refer to the September 22, 2023 release “Sale ofRetail Asset (Twicere Yokohama Isogo).”www.ichigooffice.co.jp/ir/news/news_file/file/IchigoOffice_20230922_Asset_Sale_ENG.pdf
For details on the asset acquisition, please refer to the October 13, 2023 release“Acquisition of Office Asset (Ichigo Kinshicho South Building).”
www.ichigooffice.co.jp/ir/news/news_file/file/IchigoOffice_20231013_Asset_Acquisition_ENG.pdf
Actions Driving Tenant Satisfaction and Earnings
As part of its efforts to increase tenant satisfaction and drive earnings via value-add
capex, Ichigo Office recently completed renovating the entrance area at the Ichigo
Yotsuya 4 Chome Building to enhance aesthetics and tenant convenience. Although
Ichigo Office received a lease termination notice from one of the building’s tenants,
with the renovation work now complete Ichigo Office is working towards a rapid leaseup of the vacant space.
Ichigo Office will continue to increase tenant satisfaction and the competitiveness of its
assets to drive higher value for its shareholders.
Ichigo Yotsuya 4 Chome Building2