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.

August 5, 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: Hiroto Tajitsu, Statutory Executive Officer, Head of Administration
Tel: 03-3502-4891

Ichigo REIT Portfolio Occupancy (Flash Data) – July 2015
Ichigo Real Estate Investment Corporation (“Ichigo REIT”) hereby announces its portfolio
occupancy as of the end of July 2015:
End of June 2015
(Final: A)

End of July 2015
(Flash: B)

Difference
(B-A)

96.0%
95.7%

-0.2%

Office

96.2%
95.9%

Other

97.4%

97.4%

－Central TokyoTokyo
Metropolitan Area
By Area
Four Major
Regional Cities
Other RegionalCities
No. of AssetsNo. of Tenants
Leasable Area
Leased Area

96.6%

96.0%

-0.6%

95.6%

95.8%

+0.2%

97.8%

97.8%

－95.2%

95.2%

－76
701
223,768.40m2
215,212.34m2

76702
223,700m2
214,600m2

－+1

Total
By AssetType-0.2%(Note 1) The above figures have not been audited.
(Note 2) Leasable Area is the total space of the individual properties that is available to be leased
and is subject to minor adjustments due to refurbishing or individual rental contract terms.
(Note 3) “Central Tokyo” refers to Chiyoda, Minato, Chuo, Shinjuku, Shibuya, and Shinagawa
Wards. “Tokyo Metropolitan Area” refers to Tokyo (excluding the six wards above),
Kanagawa, Chiba, and Saitama Prefectures. “Four Major Regional Cities” refers to Osaka,
Nagoya, Fukuoka, and Sapporo.
(Note 4) Leasable Area and Leased Area for Flash Data are rounded down to the nearest hundred
square meters.

1Explanation of Changes
Lease terminations at the Ichigo Jingumae Building and Ichigo Kanda Nishikicho Building
decreased occupancy for Office and Central Tokyo.
Leasing and Value Enhancement Activities
Ichigo REIT has been working to lease up the 12 assets that Ichigo REIT acquired this May,
with a special focus on the three underperforming assets with occupancy of less than 90%.
At the Ichigo Shibuya Dogenzaka Building, Ichigo REIT approached leasing agents
immediately after the acquisition in order to increase awareness of the building in light of thesteady popularity of the Shibuya area as an office location. As a result, Ichigo REIT
successfully acquired a new tenant (330 m2), improving the occupancy by 12% to 88%. All ofthe other vacant units in the building are also receiving inquiries from potential tenants.
Ichigo REIT has also held private viewings for leasing agents at Ichigo Nihonbashi East
Building and Ichigo Shinkawa Building to market the key selling points of each building. TheNihonbashi East Building has strong competiveness in attracting tenants due to its highspecifications, including 2.8 meter ceilings, OA sub-floors, system ceilings, low-e double pane
windows, and sub-dividable 640 m2 standard floors. The Ichigo Shinkawa Building will berenovated with new common areas, and drawings of the fully-renovated common areas arebeing used in leasing promotions. Ichigo REIT believes that these marketing efforts willcontribute to accelerated tenant acquisitions.

Ichigo Shibuya Dogenzaka Building

Ichigo Nihonbashi East Building

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

2Ichigo Shinkawa Building