September 26, 2013

To whom it may concern:<Asset Management Company>
Japan Real Estate Asset Management Co., Ltd.
Hiroshi Katayama, CEO & President
Contact: Ryuta Yoshida, General Manager, Planning Department
Phone: +81-3-3211-7921

Notice concerning Amendment a Part of Performance Review

Japan Real Estate Asset Management Co., has amended a part of its Performance Review for the 20th Period(April 1, 2011 through September 30, 2011), the 21st Period (October 1, 2011 through March 31, 2012), the22nd Period (April 1, 2012 through September 30, 2012) and 23rd Period (October 1, 2012 through March31, 2013) as shown below.
【Amended part】
Occupancy rates of the residential portions of Kitanomaru Square at the end of each period described in
the margin notes of Portfolio List

【Details】
Occupancy rates of the residential portions of Kitanomaru Square (at the end of each period)

20th Period(September 30, 2011)
21st Period(March 31, 2012)
22nd Period(September 30, 2012)
23rd Period(March 31, 2013)

Performance Review
Page

Before amendment

After amendment

P70

89.4%

87.8%

P68

94.1%

92.6%

P70

90.2%

88.7%

P58

93.6%

92.6%

This notice is the English translation of the announcement in Japanese dated September 26, 2013 on our website.
However, no assurance or warranties are given for the completeness or accuracy of this English translation.

April 23, 2013

To whom it may concern:<Asset Management Company>
Japan Real Estate Asset Management Co., Ltd.
Hiroshi Katayama, CEO & President
Contact: Ryuta Yoshida, General Manager, Planning Department
Phone: +81-3-3211-7921

Notice concerning Revision a Part of Performance Review
for the 22nd Period (September 30, 2012)

Japan Real Estate Investment Corporation has revised a part of its Performance Review as per the attachments
for the 22nd Period (April 1, 2012 through September 30, 2012), which was announced on November 17, 2012.

[Attachment]

P4,5

Performance Comparison (the 21st Period vs the 22nd Period)<Before revision>< Omitted >21st Period

22nd Period

Change% Change(Oct 2011-Mar 2012) (Apr 2012-Sep 2012)

Asset Group A
56 properties operated all
through the 21st and 22ndPeriods without any changes inshares of ownership<Omitted>
Property -related Expenses

11,757

11,780230.2%

2,039

-35

-1.7%

9,907
14,234-397
-411

-3.9%
-2.8%<Omitted>
Property and Other Taxes

2,074<Omitted>

Property -related Prof its and Losses
NOI

10,305
14,646<Omitted>

21st Period

22nd Period

Change% Change(Oct 2011-Mar 2012) (Apr 2012-Sep 2012)

Asset Group B
One property acquired during
the 21st Period（Akasaka Park Building）<Omitted>
Property -related Expenses

631

1,146515

81.6%<Omitted>
Property and Other Taxes

0272

272 376924.2%<Omitted>
Property -related Prof its and Losses
NOI

1,365
1,715

1,045
1,468-319-246-23.4%-14.4%<Omitted >Decrease in profits: ¥581 million

<After revision>< Omitted >21st Period

Asset Group A
56 properties operated all
through the 21st and 22ndPeriods without any changes inshares of ownership22nd Period

Change% Change(Oct 2011-Mar 2012) (Apr 2012-Sep 2012)<Omitted>
Property -related Expenses

11,757

11,772

14

0.1%

2,030

-43

-2.1%

9,916
14,243

-389
-403

-3.8%
-2.8%

<Omitted>
Property and Other Taxes

2,074<Omitted>

Property -related Prof its and Losses
NOI

10,305
14,646<Omitted>

21st Period

22nd PeriodChange% Change(Oct 2011-Mar 2012) (Apr 2012-Sep 2012)

Asset Group B
One property acquired during
the 21st Period（Akasaka Park Building）<Omitted>
Property -related Expenses

631

1,154523

83.0%<Omitted>
Property and Other Taxes

0280

280 388509.3%<Omitted>
Property -related Prof its and Losses
NOI

1,365
1,715

1,037
1,460-328-254-24.0%-14.9%< Omitted >Decrease in profits: ¥581 million

P69

Performance (Operating Result of Each Property in the 22nd Period)<Before revision>(In millions of yen)
Performance (April 1, 2012-September 30, 2012)
Property-related Expenses
Name

Propertyrelated
Revenues

Property
ManagementExpenses

Utilities
Expenses

Property andOther Taxes

Casualty
Insurance

RepairingExpenses

Depreciation(1)(2)
Propertyrelated Profitsand Losses

OtherExpenses(3)NOI((1) ＋ (2))

(4)
Capex

NCF
((3) - (4))<Omitted>
Akasaka Park

2,192

1,146

260

165272

4

18422

1

1,045

1,468

32

1,435

Aoyama Crystal

217

100

1415

3703290117

147

0146

<Omitted><After revision>(In millions of yen)
Performance (April 1, 2012-September 30, 2012)
Property-related Expenses
Name

Propertyrelated
Revenues

Property
ManagementExpenses

Utilities
Expenses

Property andOther Taxes

Casualty
Insurance

RepairingExpenses

Depreciation(1)(2)
Propertyrelated Profitsand Losses

OtherExpenses(3)NOI((1) ＋ (2))

(4)
Capex

NCF
((3) - (4))<Omitted>
Akasaka Park

2,192

1,154

260

165

280

418422

1

1,037

1,460

32

1,427

Aoyama Crystal

217

91

1415

2803290125

155

0154

<Omitted>

This notice is the English translation of the announcement in Japanese dated April 23, 2013 on our website.
However, no assurance or warranties are given for the completeness or accuracy of this English translation.