March 27, 2015

For further inquiry please contact:
XYMAX CORPORATION
Global Business Department
TEL: +81-3-5544-6840 FAX: +81-3-5544-6841

Japan's First Open-End Private REIT in Logistics Sector

Operations of SGREIT started
This is an announcement of the start of the operations of SGAM Investment Corporation ("SGREIT"), an
unlisted open-end real estate investment trust ("Private REIT") established on April 30, 2014 by SG
Asset Max Corporation ("SGAM"), a joint company of SG Realty Co., Ltd. ("SGR") and Xymax
Corporation ("Xymax").

Background of setting up and starting SGREIT
SG Holdings Group ("SGH Group"), in addition to the delivery business and logistics business, has areal estate business which is also positioned as one of the core business segments of the group. The
real estate business arm of SGH Group is SGR, one of the sponsors for SGAM.

To support the group's delivery and logistics businesses, SGR became the owner of logistics properties
and provided real estate management and building maintenance services for the properties. At the sametime, the company also implemented the best use of existing properties and developed new properties.

This Private REIT was set up based on SGR's accumulated know-how in logistics properties and SGH
Group and Xymax Group's accumulated and combined abilities in the corporate real estate management
sector and real estate investment sector. SGREIT started with ten logistics properties acquired at a total
cost of approx. JPY 30 billion.

Product features
SGREIT is Japan's first Private REIT with a general logistics group as a main sponsor. SGREIT aims to
respond to investors' expectations and to contribute to the society by investing mainly in logistics
properties that are the infrastructure connecting people's life, industry and society. Below is the principle
strategy.

Stable portfolio based on business infrastructure of SGH Group•Logistics properties that are essential in the network of SGH Group's delivery and logistics businessand are tenanted by SGH Group companies having an important function in the network.

•Multi-tenant logistics properties that are flexible for a variety of uses and may also be tenanted bycompanies other than SGH Group.

1•Logistics properties are the main focus of investments, but since it is an open-end REIT, SGREIT
makes some investments in non-logistics properties too for the purpose of enhancing liquidity tomeet redemption requests by investors.

Growth by using information network and combined abilities of SGH Group and partners•Maximum use of the SGH Group and Xymax's network including their partner companies andSGR's abilities in the real estate development, real estate management, investment management
and technique.

Stable financing and investor liquidity•SGREIT aims to provide a stable financing by borrowing mainly from Japan's leading financial
institutions and setting different due dates as allocation.

•Investors have some level of liquidity as redemption is available under specified terms. SGREIT
also provides matching transactions of investment units by a financial advisor.

SGAM Investment Corporation (SGREIT)
Location:

1-8-10, Shinsuna, Koto-ku, Tokyo

Establishment:

April 30, 2014

Registration:

June 2, 2014 (registration number: No. 91 by Kanto Finance Bureau Chief)

Representative:

Hideki Nagao, Executive Officer

Investors:

Institutional investors in Japan

SG Realty Co., Ltd. (SGR)
Location:

68 Kami Toba Tsunodacho, Minami-ku, Kyoto City, Kyoto

Representative:Shinji Nomura, Representative Director and President

Establishment:

August 2007

Capital:JPY 20,000,000,000

Employees:

92 (as of March 2014)

Achievements:

900 logistics properties across Japan used by SGH Group companies and non-grouptenants (as of March 2015)

Business:

Real estate leasing/management
Real estate strategy planningPlan, development and sales of logistics, retail and residential properties

Website:http://www.sg-realty.co.jp/2

Xymax Corporation
Location:

Xymax Akasaka 111 Building, 1-1-1 Akasaka, Minato-ku, Tokyo

Representative:

Masafumi Shimada, Representative Director, Chairman and CEO

Establishment:

Founded in March 1990 as Recruit Building Management Corporation. Became
independent by management buyout in January 2000.

Capital:JPY 2,612,865,000

Employees:

3,522 (group consolidated, as of April 2014)

Achievements:

Operation services of office buildings and retail properties: 599 buildings in Japan
Building maintenance services: 1,309 buildings in Japan
Facility management services: 10,915 places (as of April 2014)

Group Business:(1) Operation/management of office, retail/mixed-use and data center buildings(2) Tenant leasing agent for office and retail/mixed-use buildings(3) Representing owners of office and retail/mixed-use buildings(4) Facility management, security, cleaning, repairs, material sales, etc.
(5) Design, plan and consulting of new construction and renovation of office andretail/mixed-use buildings(6) Plan and consulting related to real estate in general

Website:http://www.xymax.co.jp/

SG Asset Max Corporation (SGAM)
Location:

1-8-10, Shinsuna, Koto-ku, Tokyo

Representative:

Hideki Nagao, Representative Director & President

Establishment:

April 24, 2013

Capital:JPY 200,000,000

Shareholders:

60% by SG Realty Co., Ltd., 40% by Xymax Corporation

Directors & Employees:14 (as of February 2015)

Licenses:• Financial Instruments Transaction Registration: No. 2743 by Kanto Finance
Bureau Chief (Financial Instruments Transaction)• Building Lots and Buildings Transaction Business License: No. 95451 by Tokyo
Metropolitan Governor (1)• Permission of Discretionary Transaction under Building Lots and Buildings
Transaction Business Act: No. 77 by Ministry of Land Infrastructure, Transport
and Tourism.

Website:http://www.sg-assetmax.co.jp/3