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.

September 12, 2024
IssuerIchigo Office REIT Investment Corporation (“Ichigo Office,” 8975)
2-6-1 Marunouchi, Chiyoda-ku, Tokyo
Representative: Takafumi Kagiyama, 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: +81-3-4485-5231

New LoansIchigo Office decided today to borrow funds via new loans.
1. Loan Rationale
The new loans will be used to repay existing loans (JPY 4,192 million). Details of the loans
to be repaid are in Section 3 below.
2. New Loan Details
Loan Date

Lenders
SMBC
Mizuho BankMUFG Bank
The Bank of Fukuoka

Sep 25, 2024

1

SMBC
Mizuho Bank
The Bank of Fukuoka
The Bank of Yokohama
Mizuho Trust &BankingLoanAmount(JPY million)

Interest Rate

Repayment
Repayment
Date
CollateralizedTerms(Loan Term)

2,132

Base rate1+0.45%(fixed rate)2

Oct 25, 2028
(4.1 years)
Lump-sum
repayment

2,060

1M JPY TIBOR+0.60% (p.a.)3

No

Apr 25, 2031
(6.6 years)

The base interest rate is the offered rate corresponding to the period from the individual loan
execution date to the final principal repayment date displayed on the Refinitiv screen TKFX9154
page (or the subsequent page) at 11 a.m. JST on the interest determination date plus the rate
corresponding to the same period (offered rate) displayed as the Euroyen TIBOR/TONA spread on
Refinitiv’s JPY6ZTOBS=TKFX screen or an alternate service.

12Interest payment date is the 25th of every third month following the first interest payment date (thefirst payment date will be October 25, 2024 and the last payment date will be the same as theprincipal repayment date). In the event the interest payment date is not a business day, payment shallbe made on the following business day. If the following business day falls into the following month,payment shall be made on the previous business day. Ichigo Office will announce the interest rateafter it is determined on September 20, 2024.

3Interest payment date is the 25th of every month following the first interest payment date (the firstpayment date will be October 25, 2024 and the last payment date will be the same as the principal
repayment date). In the event the interest payment date is not a business day, payment shall be madeon the following business day. If the following business day falls into the following month, payment
shall be made on the previous business day. Ichigo Office will announce the interest rate for the firstperiod (September 25, 2024 to October 25, 2024) after it is determined on September 20, 2024.
Note: The base rate for the loans will be JPY TIBOR as published by the Japanese Bankers
Association (JBA) two business days before each interest payment date. For current JPY TIBOR
rates, please visit the JBA’s website: www.jbatibor.or.jp/english/rate
3. Existing Loans Being Repaid
Loan Date

Lenders

LoanAmount(JPY million)

Interest Rate

RepaymentDate(Loan Term)

Mar 31, 2021

SMBC
MUFG Bank
Mizuho Bank
The Bank ofYokohama
Mizuho Trust &Banking1,756

1M JPY TIBOR+0.41% (p.a.)

Sep 25, 2024
(3.5 years)

SMBC
MUFG Bank
The Bank ofFukuoka
Mizuho Bank
The Bank ofYokohama

2,436

May 7, 2021

Repayment
CollateralizedTerms

Lump-sum
repayment

1M JPY TIBOR+0.41% (p.a.)No

Sep 25, 2024
(3.4 years)

4. Earnings Impact
The impact of the new loans on Ichigo Office’s October 2024 and April 2025 fiscal period
earnings has already been factored into the forecasts presented in the June 14, 2024 release“April 2024 Fiscal Period Earnings” and the August 8, 2024 release “Upward Earnings
Forecast Revision for the April 2025 Fiscal Period,” respectively.
5. OtherRisks related to the loans have no material impact on the “Investment Risks” described in
the latest Financial Report submitted on July 26, 2024.

2Loan and Bond Composition after New Loans
Outstanding Loan and Bond Balance(JPY million)
BeforeNew Loans
(A)

After
New Loans(B)

Change(B) - (A)Short-term bank loans–––

Long-term bank loans

116,507

116,507–

Total bank loans

116,507

116,507

–

7,250

7,250

–

123,757

123,757–BondsTotal bank loans and bonds

3Distribution of Loan and Bond Maturities
Before New Loans■ Bank Loans (floating rate) ■ Bank Loans (fixed rate)■ Bonds ■ Subordinated Bonds(JPY million)

11,645
1,200
9,812

9,763
8,908

8,846

9,682

10,102
9,347

1,000
1,200

1,000
7,346

7,300

1,000

7,595
1,500

5,494

5,476
7,953

4,192

4,899

10,445
8,763

7,246

8,147

6,346

6,095
1,300

Apr
2025

Oct
2025

Apr
2026

350

955

600
Oct
2024

1,700

Oct
2026

Apr2027

Oct
2027

Apr2028

Oct
2028

Apr2029

Oct
2029

Apr2030

Oct2030

Apr2031

Oct2031

Apr2032

Oct2032

Apr2033

Oct2033

Apr2034

After New Loans■ Bank Loans (floating rate) ■ Bank Loans (fixed rate) ■ Bonds ■ Subordinated Bonds ■ New Loans
11,814

11,645
1,200
9,812

2,132
9,763

8,908

8,846

10,102
9,360

9,347

1,000
1,200

1,000

2,060

7,346
1,000

7,595
1,500

5,494

5,476
7,953

4,899

10,445
8,763

7,246

9,682
8,147

7,300

6,346

6,095
1,300

Apr
2025

Oct
2025

Apr
2026

1,700
350

955

600
Oct2024(JPY million)

Oct2026

Apr2027

Oct2027

Apr2028

Oct2028

Apr
2029

Oct
2029

4

Apr
2030

Oct
2030

Apr
2031

Oct
2031

Apr
2032

Oct
2032

Apr
2033

Oct
2033

Apr
2034