Creating peace of mind through honest and committed management.

[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.

February 26, 2015
REIT Issuer
Ichigo Real Estate Investment Corporation (8975)
1-1-1, Uchisaiwaicho, Chiyoda-ku, Tokyo
Representative: Yoshihiro Takatsuka, Executive Director
Asset Management Company
Ichigo Real Estate Investment Advisors Co., Ltd.
Representative: Wataru Orii, President & Representative Statutory Executive Officer
Inquiries: Minoru Ishihara, Executive Vice President & Statutory Executive Officer
Tel: 03-3502-4891

Change of Property Management Companies
Ichigo Real Estate Investment Corporation (“Ichigo REIT”) has decided to appoint new
property management (PM) companies for the following assets.
1. Reason for Changes
Ichigo REIT is working to ensure the thorough implementation of tailored property management
services that reflect Ichigo Ichie, the ancient Japanese spirit of hospitality and service rooted inthe Japanese tea ceremony. As part of this effort, Ichigo REIT has negotiated with PMs toincrease the quality of their property management services as well as to cut costs, and has
decided the following changes. The new PMs were selected based on careful consideration of
not only economic aspects such as fees, but also the full breadth of their capabilities andexperience.
2. Details of Changes
Asset Name

New (PM)

Former (PM)Ichigo Akasaka 5 Chome Building

The Dai-ichi Building Co., Ltd.

XYMAX PROPERTIES Corporation

Ichigo Ebisu-Nishi Building

The Dai-ichi Building Co., Ltd.

XYMAX PROPERTIES Corporation

Ichigo Yotsuya 4 Chome Building

The Dai-ichi Building Co., Ltd.

XYMAX PROPERTIES Corporation

Ichigo Tameike Building

The Dai-ichi Building Co., Ltd.

XYMAX PROPERTIES Corporation

Ichigo Jimbocho Building

The Dai-ichi Building Co., Ltd.

XYMAX PROPERTIES Corporation

Ichigo Ikejiri Building

The Dai-ichi Building Co., Ltd.

XYMAX PROPERTIES Corporation

Ichigo Nishi-Gotanda Building

The Dai-ichi Building Co., Ltd.

XYMAX PROPERTIES Corporation

Ichigo Kanda-Nishikicho Building

The Dai-ichi Building Co., Ltd.

XYMAX PROPERTIES Corporation

Ichigo Hatchobori Building

The Dai-ichi Building Co., Ltd.

XYMAX PROPERTIES Corporation

Daimyo Balcony

Fukuoka Jisho Co., Ltd.

XYMAX PROPERTIES Corporation1

3. Profile of the Property Management Companies
NameAddress
Representative
CapitalPrincipal Businesses

Relationship with Ichigo
REIT or Asset Management
Company

Name
Address
Representative
CapitalPrincipal Businesses

Relationship with Ichigo
REIT or Asset Management
Company

The Dai-ichi Building Co., Ltd.
2-4-12, Kyobashi, Chuo-ku, Tokyo
Takahiro Inaba, Representative Director
900 million yen (as of January 1, 2015)
1. Leasing
2. Consignment of real estate management and lease
3. Real estate brokerage
The PM does not have any capital, personnel, or business
relationship of note with Ichigo REIT or its asset
management company. In addition, the PM is not aninterested party of Ichigo REIT or its asset managementcompany.
Fukuoka Jisho Co., Ltd.
1-2-25, Sumiyoshi, Hakata-ku, Fukuoka City, Fukuoka
Kan Ishii, Representative Director
4 billion yen (as of February 1, 2015)
1. Real estate sales, lease, brokerage, and management
2. City planning, city development, area development, andplanning of co-ownership building
3. Construction, sales, lease, management of residentialbuildings; Preparation and sales of land
4. Management and lease of retail, sports, and recreational
facilities, restaurants, and shops
5. Management of parking lots
6. Sales of non-life insurance, life insurance, and cancer
indemnity insurance policies and car insurance agent
service
7. Inspection and maintenance of buildings
8. Investment in TMK, special purpose companies, and realestate trust; Acquisition/ brokerage/ management of suchinvestment
The PM does not have any capital, personnel, or business
relationship of note with Ichigo REIT or its asset
management company. In addition, the PM is not aninterested party of Ichigo REIT or its asset managementcompany.

4. Effective Date of Change
March 1, 2015 (expected)
5. Future Outlook
The impact of these changes to Ichigo REIT’s earnings forecast for the fiscal period ending
April 2015 announced on December 18, 2014 in “Financial Report for the Fiscal Period Ending
October 2014” is minimal and therefore the forecast is unchanged.

Website of Ichigo REIT: www.ichigo-reit.co.jp/english

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