May 7, 2014

Dear Unitholders:
6-16-12 Shinbashi, Minato-ku, TokyoJapan Rental Housing Investments Inc.
Executive Director Toshiya Kuroda
Convo cation Not ice o f the 1 0th Gene ra l M eeting o f Unith o lde rs
This is to inform you that the 10th General Meeting of Unitholders of Japan Rental Housing Investments Inc. (“JRH”)
will be held as described below. You are cordially invited to attend the General Meeting of Unitholders.
Please note that you may exercise your voting rights via the voting rights exercise form if you are unable toattend the General Meeting of Unitholders in person. In such case, you are requested to carefully examine theattached "Reference Documents Concerning the General Meeting of Unitholders" and, after indicating yourvotes for or against each proposal on the enclosed voting rights exercise form, to send such form to us, ensuringthat the form reaches us by no later than 6:00 p.m. on Thursday, May 22, 2014.
In accordance with Article 93, Paragraph 1 of the Law Concerning Investment Trusts and Investment Corporations,
JRH has set out the provisions concerning “Deemed Approval” in Article 24 of the current Articles of Incorporation.
Accordingly, please be aware that if you are not present at the General Meeting of Unitholders and do not
exercise your voting rights via the voting rights exercise form, your voting rights will be included in the numberof voting rights of the unitholders in attendance and JRH will deem that you have voted in favor of each
proposal submitted to the General Meeting of Unitholders.
(Extract from the Current Articles of Incorporation of JRH)
Article 24 (Deemed Approval)
1. Any unitholder who does not attend a general meeting of unitholders and does not exercise his/her voting rights shall be deemed to
be in favor of any proposal submitted to such general meeting of unitholders (provided, however, that in cases where two or more
proposals are submitted and any such proposal is in conflict in its nature with another proposal, both of such proposals shall be
excluded from such deemed approval).
2. The number of voting rights owned by the unitholder deemed to be in favor of a proposal in accordance with the preceding
paragraph shall be included in the number of voting rights of the unitholders in attendance.

Details
1． Date and Time:
2． Place:

May 23, 2014 (Friday) at 10:00 a.m.
Aviation Building 7th Floor Large Hall
1-18-1 Shinbashi, Minato-ku, Tokyo(Please refer to the “Directions to the 10th General Meeting of Unitholders” at the end of thisdocument.)

3． Purpose of the General Meeting of Unitholders:
Resolutions
Resolution 1:
Amendments to the Articles of Incorporation
Resolution 2:
Appointment of Two (2) Executive Directors
Resolution 3:
Appointment of Three (3) Supervisory Directors
END
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If you attend the General Meeting of Unitholders in person, please submit the enclosed voting rights exercise form to the receptionist at the venue.
If you choose to exercise your voting rights by proxy, you may appoint another unitholder with voting rights to attend the General Meeting ofUnitholders as your proxy. In such case, such proxy shall submit your voting rights exercise form together with a document certifying the status of
the proxy.
After the conclusion of the General Meeting of Unitholders, the “Session of Asset Management Report” will be held at the same venue by Mi -Casa
Asset Management Inc., the asset management company of JRH.
Method of publicizing in the case of revision of the Reference Documents Concerning the General Meeting of Unitholders:
Please note that any revisions that are required to be made, by the date preceding the date of the General Meeting of Unitholders, to the matters
included in the Reference Documents Concerning the General Meeting of Unitholders will be posted on JRH’s Web Site (http://www.jrhi.co.jp/).

- 1 -Reference Documents Concerning the General Meeting of Unitholders
Resolution and Reference Items
Resolution 1: Amendments to the Articles of Incorporation
1. Reasons for Amending the Articles of Incorporation(1) JRH will newly add or revise provisions as follows due to the Act on Investment Trusts and Investment
Corporations (Act No. 198 of 1951, including subsequent amendments) (hereinafter referred to as the“Investment Trust Act”) being amended following the Act for the Partial Revision of the Financial Instruments
and Exchange Act (Act No. 45 of 2013) (hereinafter referred to as the “Revised Act”) which was promulgatedon June 19, 2013 and Rules for Enforcement of the Act on Investment Trusts and Investment Corporations(Ordinance of the Prime Minister's Office No. 129 of 2000, including subsequent amendments) being amended
in connection with the parts of the Revised Act being enforced from April 1, 2014.
(i) JRH will newly add a provision that describes that JRH shall be able to acquire its investment units forvalue through agreement with unitholders (Article 6, Paragraph 2).
(ii) In connection with the provision “in order to manage its assets by investing primarily in real estate andother assets (this means real estate, real estate leasehold rights, surface rights or beneficiary interests having
only these as trust assets” being newly added as a detail of “The Subjects and Plan of Asset Management”,
which is a matter stated in the Articles of Incorporation, JRH will revise the basic plan of asset management
stated in the Articles of Incorporation to match this and make necessary amendments (Article 9, Article 10,
Paragraph 1 and Article 11, Paragraph 1).
(iii) JRH will newly add provisions to state that the convocation of the general meeting of unitholders of JRH
is on a certain date and thereafter without delay, the convocation of the general meeting of unitholders of
JRH shall be on May 1, 2016 and onwards without delay and subsequent convocation of the meeting will
be on May 1 and onwards every two years without delay (the first sentence of Article 19, Paragraph 2) andthat the convocation of the general meeting of unitholders shall be conducted as needed (the second
sentence of Article 19, Paragraph 2). In addition, as JRH shall be able to state the term of office of thedirectors as until the end of the general meeting of unitholders which are held within 30 days from the day
after the day on which two years have passed from the appointment of the directors through the resolutionof the general meeting of unitholders when there is a provision of the first sentence of Article 19, Paragraph
2 of the draft amendments, JRH will make necessary amendments on provisions concerning frequency ofholding the general meeting of unitholders and term of office of the directors (Article 18 and Article 28,
Paragraph 1).
(iv) JRH will newly add a provision that public notice of the date of the general meeting of unitholders shallnot be required concerning the general meeting of unitholders to be held before 25 months have passed
from the previous general meeting of unitholders held in accordance with the provision of the first sentenceof Article 19, Paragraph 2 of the draft amendments (Article 20). In addition, JRH will clarify the record
date that determines unithloders who may exercise the rights thereof at the concerned general meeting ofunitholders (Article 25).
(v) JRH will newly add a supplementary provision that among new additions and revisions mentioned above,
those which will be effective upon the date of enforcement of the related amendment to the Investment
Trust Act (newly added Article 19, Paragraph 2 and exceptional clause in Article 20 and revision to Article25) shall be effective upon the enforcement date (Article 41).
(2) JRH will revise necessary wording in connection with The Investment Trusts Association, Japan changing its
structure from an incorporated association to a general incorporated association on January 4, 2013 (Article 10,
Paragraph 9).
(3) In line with the provisions concerning distribution of cash in excess of earnings in “Regulations Concerning
Real Estate Investment Trusts and Real Estate Investment Corporations” stipulated by the Investment Trusts
Association, Japan have been partially amended, JRH will prepare concerned provision in the Articles of- 2 -Incorporation (Article 15, Items 4).
(4) JRH will newly add a provision to state that the period in which resolutions concerning the election ofsubstitute directors are in effect shall be the same as the term of office of executive directors or supervisory
directors who are to be filled principle (Article 28, Paragraph 2).
(5) In addition, these amendments will amend and clarify certain expressions and revise necessary wording(Article 27, Paragraph 1 and Article 38, Paragraph 2).

- 3 -2. Details of the Amendments to the Articles of Incorporation
The details of the amendments are set forth below.
(Underlining indicates changed portions.)
Current Articles of Incorporation
Draft Amendments

CHAPTER II Investment Units

CHAPTER II Investment Units

Article 6 (Refund of Investment Units at Request ofUnitholders)
JRH shall not refund investment units at therequest of unitholders.
(New)

Article 6 (Refund of Investment Units at Request ofUnitholders and Acquisition of its Investment Units)
1. JRH shall not refund investment units at therequest of unitholders.
2. JRH shall be able to acquire its investment
units for value through agreement withunitholders.

CHAPTER III The Subjects, Plan andCalculation of Asset Management

CHAPTER III The Subjects, Plan andCalculation of Asset Management

Article 9 (Basic Plan of Asset Management)
JRH shall conduct management by investing
primarily in specified assets prescribed in Article
11, Paragraph 2 and 3 in an aim to secure steady
growth of assets under management and stableearnings over the medium to long-term.

Article 9 (Basic Plan of Asset Management)
JRH shall conduct management by investing inassets listed in Article 11 in order to manage its
assets by investing primarily in real estate andother assets (this means those prescribed in Rules
for Enforcement of the Act on Investment Trusts
and Investment Corporations (Ordinance of thePrime Minister's Office No. 129 of 2000,
including subsequent amendments) (hereinafterreferred to as the “Rules for Enforcement of theInvestment Trust Act”) ) in an aim to securesteady growth of assets under management andstable earnings over the medium to long-term.

Article 10 (Investment Plan)
1. JRH shall invest primarily in real estate, etc.
(this means real estate, etc. prescribed in
Article 11, Paragraph 2. Hereafter the same
except when stipulated otherwise) which ismainly used as residence (hereinafter, realestate, etc. which is mainly used as residence
shall be referred to as the “Rental Housing”)
among specified assets prescribed in Article
11, Paragraph 2 and 3.

Article 10 (Investment Plan)
1. JRH shall invest primarily in real estate, etc.
(this means real estate, etc. prescribed in
Article 11, Paragraph 2. Hereafter the same
except when stipulated otherwise) which ismainly used as residence (hereinafter, realestate, etc. which is mainly used as residence
shall be referred to as the “Rental Housing”)
among specified assets prescribed in Article
11, Paragraph 2 and 3 in accordance withbasic plan prescribed in Article 9.
2.~8. (Omitted)
9. Transactions other than those prescribed in
Paragraph 2 through 4 and Paragraph 8 may
be conducted only when the transaction ispossible in the context of laws andregulations, rules of The Investment Trusts
Association, Japan which is a generalincorporated association (hereinafter referred
to as “The Investment Trusts Association,
Japan”), and the Articles of Incorporation andwhen the concerned transaction is judged tobe beneficial in the management of JRH’s
assets.

2.~8. (Omitted)
9. Transactions other than those prescribed in
Paragraph 2 through 4 and Paragraph 8 may
be conducted only when the transaction ispossible in the context of laws andregulations, rules of The Investment Trusts
Association, Japan which is an incorporated
association (hereinafter referred to as “TheInvestment Trusts Association, Japan”), and
the Articles of Incorporation and when theconcerned transaction is judged to bebeneficial in the management of JRH’s assets.

- 4 -Current Articles of Incorporation
Article 11 (Specified Assets Subject to Major
Investment)
1. JRH’s major subject to investment shall bereal estate, etc.
2.~5. (Omitted)

Draft Amendments
Article 11 (Assets Subject to Investment)
1. JRH shall invest in real estate, etc. prescribedin Paragraph 2 in accordance with basic plan
prescribed in Article 9.
2.~5. (Unchanged)

Article 15 (Cash Distribution Policies)
Article 15 (Cash Distribution Policies)
JRH shall make distributions, in principle, in
JRH shall make distributions, in principle, in
accordance with the following policies:
accordance with the following policies:(1)~(3) (Omitted)(1)~(3) (Unchanged)(4) When JRH makes monetary distribution in(4) When JRH makes monetary distribution inexcess of profits, the distribution amountexcess of profits, the distribution amountshall be limited to the amount obtained byshall be limited to the amount obtained byaggregating the amount of profit concerning
aggregating the amount of profit concerning
the relevant Settlement Date and the amountthe relevant Settlement Date and the amountcorresponding to depreciation for theprescribed in the rules of The Investment
relevant fiscal period; provided, however,
Trusts Association, Japan; provided,that if such amount does not exceed 90% of
however, that if such amount does not
the distributable amount set forth in Article
exceed 90% of the distributable amount set
39-32-3 of the Enforcement Order
forth in Article 39-32-3 of the Enforcement
concerning Special Taxation Measures Law
Order concerning Special Taxation(Cabinet Order No. 43 of 1957, asMeasures Law (Cabinet Order No. 43 of
amended), the Company may make
1957, as amended), the Company may makemonetary distribution in excess ofmonetary distribution in excess of
distributable amount, up to the amount
distributable amount, up to the amountequivalent to 91% of the distributableequivalent to 91% of the distributableamount.
amount.
(5)~(7) (Omitted)(5)~(7) (Unchanged)

CHAPTER IV General Meeting ofUnitholders

CHAPTER IV General Meeting ofUnitholders

Article 18 (Venue and Frequency)
JRH shall hold a General Meeting of Unitholders
within Tokyo 23 wards and at least once every 2
years as a rule.

Article 18 (Venue and Frequency)
JRH shall hold a General Meeting of Unitholders
within Tokyo 23 wards.

Article 19 (Convocation of the General Meeting ofUnitholders)
Except where otherwise prescribed by law, aGeneral Meeting of Unitholders shall be
convoked, based on the approval by the Board of
Directors, by the Executive Director in a casewhere there is one Executive Director or by the
one Executive Director designated according toan order determined in advance by the Board of
Directors in a case where there are two or more
Executive Directors.
(New Provision)

Article 19 (Convocation of the General Meeting ofUnitholders)
1. Except where otherwise prescribed by law, aGeneral Meeting of Unitholders shall be
convoked, based on the approval by the
Board of Directors, by the Executive Director
in a case where there is one Executive
Director or by the one Executive Director
designated according to an order determinedin advance by the Board of Directors in acase where there are two or more Executive
Directors.
2. The convocation of the General Meeting ofUnitholders of JRH shall be on May 1, 2016
and onwards without delay and subsequentconvocation of the meeting will be on May 1
and onwards every two years without delay.
In addition, JRH shall be able to conduct
convocation of the General Meeting of- 5 -Current Articles of Incorporation
Article 20 (Public Notice and Notification of theConvocation)
JRH shall give public notice on the date of theGeneral Meeting of Unitholders by 2 months
before the date of the meeting and shall notify
the unitholders who are unitholders as of therecord date prescribed in Article 25 in written
documents by 2 weeks before the date of themeeting in order to conduct convocation of theGeneral Meeting of Unitholders. JRH shall beable to hold the General Meeting of Unitholders
without taking the procedure for convocation
when it has gained consent from all theunitholders.

CHAPTER V

Directors and the Board of
Directors

Draft Amendments
Unitholders as needed.
Article 20 (Public Notice and Notification of theConvocation)
JRH shall give public notice on the date of theGeneral Meeting of Unitholders by 2 months
before the date of the meeting and shall notify
the unitholders who are unitholders as of therecord date prescribed in Article 25 in written
documents by 2 weeks before the date of themeeting in order to conduct convocation of theGeneral Meeting of Unitholders; provided,
however, the public notice of the date of General
Meeting of Unitholders shall not be required
concerning the meeting to be held before 25
months have passed from the previous meeting
held in accordance with the provision of the first
sentence of Paragraph 2 in the preceding article.
In addition, JRH shall be able to hold the General
Meeting of Unitholders without taking theprocedure for convocation when it has gained
consent from all the unitholders.

CHAPTER V

Directors and the Board of
Directors

Article 25 (Record Date)
Article 25 (Record Date)
1. In a case where JRH will hold a General
1. In a case where JRH will conduct a
Meeting of Unitholders on a date within 3
convocation of a General Meeting ofmonths after the fiscal period ends, JRH shall
Unitholders based on prescription of the first
designate the Unitholders described orsentence of Article 19, Paragraph 2, JRH
registered in the final register of Unitholders
shall designate the Unitholders described oras unithloders who may exercise the rights
registered in the final register of Unitholders
thereof at the General Meeting ofon March 31, 2016 and on March 31 of every
Unitholders which they are convoked for.
two years onward as unithloders who may
exercise the rights thereof at the General
Meeting of Unitholders which they are
convoked for.
2. In addition to the preceding paragraph, JRH
2. In a case where JRH will conduct a
may when necessary give public notice inconvocation of a General Meeting ofadvance designating the unitholders or
Unitholders based on prescription of theregistered pledgees of investment units
second sentence of Article 19, Paragraph 2,
described or registered in the register of
JRH may give public notice in advanceunitholders on a certain day as unitholders ordesignating the unitholders or registeredregistered pledgees of investment units who
pledgees of investment units described or
may exercise the rights thereof.
registered in the register of unitholders on acertain day as unitholders or registeredpledgees of investment units who may
exercise the rights thereof.
3. (Omitted)
3. (Unchanged)

Article 27 (Matters Concerning Directors)
1. JRH shall have no more than three Executive
Directors and no more than four Supervisory
Directors (provided, however, that the
number of Supervisory Directors shall be at

Article 27 (Matters Concerning Directors)
1. JRH shall have no more than three Executive
Directors and no more than four Supervisory
Directors (provided, however, that the
number of Supervisory Directors shall be at- 6 -Current Articles of Incorporation
least one more than the number of Executive
Directors,) and Executive Directors andSupervisory Directors (hereinafter, referred
to as the “Directors”) shall constitute theBoard of Directors.
2. (Omitted)

Draft Amendments
least one more than the number of Executive
Directors,) and Executive Directors andSupervisory Directors (hereinafter referred toas the “Directors”) shall constitute the Boardof Directors.
2. (Unchanged)

Article 28 (Term of Office of Directors)
The term of office of the Directors shall be twoyears after taking office; provided, however, thatthe term of Directors elected to fill vacancies orto increase the number of Directors shall beconterminous with the remaining term of theprevious office holder or the remaining term ofoffice of other Directors then in office.

Article 28 (Term of Office of Directors)
1. The term of office of the Directors shall be
two years after taking office; provided,
however, that this shall not preclude theextending or shortening of such period by tothe extent prescribed by laws and regulations
by means of resolution of the General
Meeting of Unitholders. In addition, the termof Directors elected to fill vacancies or toincrease the number of Directors shall beconterminous with the remaining term of theprevious office holder or the remaining termof office of other Directors then in office.
2. The period which the resolution concerning
the election of substitute directors to be ineffect shall be until expiry of the term ofoffice of Directors who are to be filled andelected at the General Meeting ofUnitholders which the concerned resolution
was made (in a case where the Directors who
are to be filled were not elected at theconcerned General Meeting of Unitholders,the most recent General Meeting ofUnitholders which the Directors who are to
be filled were elected); provided, however,that this shall not preclude the shortening ofsuch period by means of resolution of theGeneral Meeting of Unitholders.

(New Provision)

CHAPTER VII
Asset Management
Company, Asset Custodian and General
Administrator

CHAPTER VII
Asset Management
Company, Asset Custodian and General
Administrator

Article 38 (Administrative Services Relating toOffering of Investment Units and Investment
Corporation Bonds to be Issued)
1. (Omitted)
2. Administrative services relating to solicit
underwriters for investment units andinvestment corporation bonds to be issued by
JRH, preparation and maintenance of originalregistry of investment corporation bonds andother administrative services relating tooriginal registry of investment corporation
bonds, administrative services relating to theissuance of the investment units andinvestment corporation bonds, and theadministrative services relating to the holdersof the investment corporation bonds (thismeans general administration services

Article 38 (Administrative Services Relating toOffering of Investment Units and Investment
Corporation Bonds to be Issued)
1. (Unchanged)
2. Administrative services relating to solicit
underwriters for investment units andinvestment corporation bonds to be issued by
JRH, preparation and maintenance of originalregistry of investment corporation bonds andother administrative services relating tooriginal registry of investment corporation
bonds, administrative services relating to theissuance of the investment units andinvestment corporation bonds, and theadministrative services relating to the holdersof the investment corporation bonds (thismeans general administration services- 7 -Current Articles of Incorporationprescribed in Article 169, Paragraph 2, Items
4 and 5 of Rules for Enforcement of the Act
on Investment Trusts and Investment
Corporations (Ordinance of the Prime
Minister's Office No. 129 of 2000, including
subsequent amendments)) shall becommissioned upon determining a generaladministration company at the Board of
Directors, and a general administrative
services agreement shall be concluded.

(New Provision)

Draft Amendments
prescribed in Article 169, Paragraph 2, Items
4 and 5 of Rules for Enforcement of theInvestment Trust Act) shall be commissioned
upon determining a general administrator at
the Board of Directors, and a generaladministrative services agreement shall beconcluded.

Chapter VIII Supplementary Provision
Article 41 (Amendments Coming into Effect)
1. Amendments relating to newly added Article
6, Paragraph 2 will be effective upon the dateof enforcement of the amendment to theInvestment Trust Act that approve JRH’s
acquisition of its investment units for value
through agreement with unitholders.
2. Amendments relating to newly added Article
19, Paragraph 2 and exceptional clause in
Article 20 and revision to Article 25 will beeffective upon the date of enforcement of theamendment to the Investment Trust Act thatapprove skipping public notice from theconvocation procedure of the General
Meeting of Unitholders.

- 8 -Resolution 2: Appointment of Two (2) Executive Directors
The term of office of Executive Directors Toshiya Kuroda and Yutaka Higashino are set to expire on May 24, 2014,
but because there were requests that they resign briefly at the conclusion of this General Meeting of Unitholders, werequest that they again be elected as Executive Directors as of May 23, 2014.
Under this resolution, the term of office of the Executive Directors will be for two years from election on May 23,
2014 under the provision of Article 28 of the current Articles of Incorporation.
This resolution is submitted based on the agreement of all Supervisory Directors of JRH at the board of directors
meeting held on April 16, 2014.
The candidates for Executive Director are as set forth below.
Candidate
NameProfessional History
number(Date of Birth)
May 1994
Registered as lawyer in the State of New York, U.S.A.
August 1994
The Sakura Bank, Limited Vice President of Los Angeles
BranchFebruary 1999
KPMG LLP Senior Manager, Real Estate Consulting
Department (Los Angeles)
April 2001
Oaktree Japan Co., Ltd. (currently, Oaktree Japan, GK) SeniorVice President
Toshiya Kuroda
1
May 2005
KW Investment Co., Ltd. Director
April 10, 1960
December 2006
Oaktree Japan Co., Ltd. (currently, Oaktree Japan, GK) SeniorVice President
January, 2009
Japan Rental Housing Investments Inc. Executive Director(present)
January, 2011
Oaktree Japan Co., Ltd. (currently, Oaktree Japan, GK)
Managing Director
May 2013
Oaktree Japan, GK Executor & Managing Director (present)
April 1976
The Sanwa Bank, Ltd. (currently, The Bank of Tokyo-Mitsubishi
UFJ, Ltd.)
August 1993
Assigned as Deputy General Manager of New York Branch
October 1997
Assigned as General Manager of Higashi Ebisu Branch
February 2000
Assigned as General Manager of Structured Finance Department
January 2002
Seconded to Daikyo Incorporated (by the Sanwa Bank) General
Manager of Corporate Planning Department
July 2005
Seconded to NTN Corporation (by the UFJ Bank) Deputy
General Manager of Finance Department
Yutaka Higashino
March 2006
The Bank of Tokyo-Mitsubishi UFJ, Ltd. Deputy Director-General2
November 6, 1953
July 2006
ORIX Real Estate Corporation General Manager of Real Estate
Investment Banking Department
July 2007
Morgan Stanley Securities Co., Ltd.
Executive Director, Real Estate Investment Banking Department
Seconded to MS Real Estate Advisors K.K. (by Morgan Stanley)
President and CEO
August 2009
Mi-Casa Asset Management Inc.
President and CEO (present)
May 2012
Japan Rental Housing Investments Inc. Executive Director(present)
1. None of the above referenced candidates for Executive Director hold investment units of JRH.
2. The above referenced candidates for Executive Director, Toshiya Kuroda and Yutaka Higashino are both currently Executive Directors of
JRH who are performing the general operations of JRH.
3. The above referenced candidate for Executive Director, Toshiya Kuroda is Executor & Managing Director of Oaktree Japan, GK.
4. The above referenced candidate for Executive Director, Yutaka Higashino is the President and CEO of Mi-Casa Asset Management Inc.,
with which JRH has entered into an asset management services agreement.
5. There are no special interests between the above referenced candidates for Executive Director and JRH.

- 9 -

Resolution 3: Appointment of Three (3) Supervisory Directors
The term of office of Supervisory Directors Kouhei Yabuta, Jun Nagamine and Danforth Thomas are set to expire
on May 24, 2014, but because there were requests that they resign briefly at the conclusion of this General Meetingof Unitholders, we request that they again be elected as Supervisory Directors as of May 23, 2014.
Under this resolution, the term of office of the Supervisory Directors will be for two years from election on May 23,
2014 under the provision of Article 28 of the current Articles of Incorporation.
The candidates for Supervisory Director are as set forth below.
Candidate
NameProfessional History
number(Date of Birth)
March 1991
Completed the Legal Research and Training Institute of theSupreme Court of Japan (the 43rd term)
April 1992
Bar admission (Daiichi Tokyo Bar Association)
Kouhei Yabuta
1
Joined the Hashidate Law Office
December 24, 1961
April 1997
Partner attorney at the Hashidate Law Office (present)
January 2006
Re-Plus Residential Investment Inc. (currently, Japan Rental
Housing Investments Inc.) Supervisory Director (present)
September 1980
Tohmatsu Awoki & Co.
September 1983
Tohmatsu Touche Ross Consulting Co., Ltd.
September 1987
Registered as a certified public accountant
September 1987
Bankers Trust Company
September 1989
Opened Nagamine Accounting Office, Representative
Jun Nagamine
February 1990
Registered as a certified public tax accountant
2
March 10, 1957
October 2001
TPI Limited Co. (currently, JC Accounting KK) President andCEO (present)
March 2008
GCA Savvian Group Corp. Auditor
January 2009
Japan Rental Housing Investments Inc. Supervisory Director(present)
March 2009
Nagamine Mishima Accounting Office Partner (present)
May 1982
CS First Boston
December 1986
Goldman Sachs
Vice President
May 1989
IVEX International K.K.
Manager
February 1993
Cheyenne Software President
October 1994
Chipcom Japan President
March 1996
International Investment Consultants Ltd.
Representative Director (present)
July 2000
Top Layer Networks Japan Representative Director (present)
October 2000
Japan Venture Partners, LLC Partner/Co-Founder (present)
Danforth Thomas
3
November 2003
Fabri-Kal Corporation Director (Part-time) (present)
September 8, 1957
March 2006
Stryker Japan Holding K.K. Director (part-time)
June 2006
Belkin Japan Representative Director
June 2007
WISECOM K.K. Representative Director
October 2008
Mirapoint Japan, K.K. Director (part-time)
January 2009
Japan Rental Housing Investments Inc. Supervisory Director(present)
April 2009
WISECOM K.K. Director (Part-time)May 2009
Active Media Corporation Director (Part-time) (present)
May 2010
AMIC Co., Ltd. Director (Part-time) (present)
February 2013
Fabri-Kal Corporation Director and Chairman (Part-time)(present)
1. None of the above referenced candidates for Supervisory Director hold investment units of JRH.
2. The above referenced candidates for Supervisory Director are all currently Supervisory Directors of JRH who are supervising the general
operations of JRH.
3. Of the above referenced candidates for Supervisory Director, Jun Nagamine is currently President and CEO of JC Accounting KK. Also,
Danforth Thomas is a representative director of International Investment Consultants Ltd. and Top Layer Networks Japan.
4. There are no special interests between the above referenced candidates for Supervisory Director and JRH.

- 10 -

Reference Items
In cases where two or more proposals are submitted to the General Meeting of Unitholders and any such proposal isin conflict in its nature with another proposal, both of such proposals shall be excluded from "deemed approval"
prescribed in Article 24 of the current Articles of Incorporation pursuant to Article 93, Paragraph 1 of the Law
Concerning Investment Trusts and Investment Corporations.
With respect to Resolution 1 through Resolution 3 above, none fall under the category of conflicting proposal.
END- 11 -

Directions to the 10th General Meeting of Unitholders
Venue:

Aviation Building (Large Conference Room on the 7th Floor)
18-1, Shimbashi 1-chome, Minato-ku, Tokyo
03-3501-1272

Telephone:

Police Box●

(Toei Mita Line)

Hibiya Park●

Mizuho Bank

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Kokkai Street

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07
To Tranomon
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A2
Sotobori Street
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Shimbashi
Station●(Tokyo Metro Ginza Lone)

Nishi-Shimbashi
Intersection

JR Shimbashi
Station●○○○Dai-ichi
Hotel
Tokyo

HibiyaBuilding

Hibiya ExitBank

Hibiya Street
To Mita●Mitsui Sumitomo●○(Toei Asakusa Line)

Hibiya Central
Building○

Aviation
Building

Uchisaiwaicho Station

Hibiya City

Shimbashi
Station(Yurikamome Line)To Shinagawa

Access

JR Shimbashi Station
Hibiya Exit
Toei Mita Line Uchisaiwaicho Station
A2 ExitTokyo Metro Ginza Line Shimbashi Station 7 Exit
Toei Asakusa Line Shimbashi Station
7 Exit5-minute walk
1-minute walk
5-minute walk
5-minute walkNote There is no parking available. We kindly ask you not to come by your car.