Ichigo Preserves and Improves Real Estate[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.

IssuerIchigo Office REIT Investment Corporation (“Ichigo Office,” 8975)
1-1-1 Uchisaiwaicho, Chiyoda-ku, Tokyo
Representative: Yoshihiro Takatsuka, Executive Director
www.ichigo-office.co.jp/english

May 8, 2018

Asset Management Company
Ichigo Investment Advisors Co., Ltd.
Representative: Wataru Orii, President
Inquiries: Hiroto Tajitsu, Head of Administration
Tel: +81-3-3502-4891

Ichigo Office Portfolio Occupancy (Flash Data) – April 2018

TotalOffice
OtherCentral Tokyo
Tokyo
Metropolitan
By Area Area
Four Major
Regional Cities
Other RegionalCities
No. of Assets
No. of Tenants
Leasable Area
Leased Area
By Asset
TypeMarch 2018
(Final: A)

April 2018
(Flash: B)

Difference(B) - (A)

98.8%
98.8%
99.3%
98.8%

99.0%
98.9%
99.8%
99.2%

+0.2%
+0.1%
+0.5%
+0.4%

98.6%

99.0%

+0.4%

99.2%

98.4%

-0.8%

98.9%

98.9%

–83893
256,258.45m2
253,228.26m2

82
890
255,400m2
252,800m2-1-3

Notes:
1. The above figures are month-end and have not been audited.
2. Leasable Area is the total space of the individual properties that is available to beleased and is subject to minor adjustments due to refurbishing or individual rental
contract terms.
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 toOsaka, Nagoya, Fukuoka, and Sapporo.

1Explanation of Changes
Occupancy increased for Office, Other, Central Tokyo, and Tokyo Metropolitan Area
due to new tenants at the Ichigo Mita Building, the Ichigo Shibuya Udagawacho
Building, the Ichigo Kawasaki Building, and the Ichigo Fiesta Shibuya Building,
although occupancy for Four Major Regional Cities decreased due to departing tenants
at the Ichigo Nishiki First Building and the Ichigo Nishi Honmachi Building. The
number of assets and tenants decreased as a result of the April 20 sale of Ichigo DaimyoBalcony. (For details of the asset sale, please refer to the March 16 release “Sale of Two
Retail Assets (Ichigo Sapporo Minami 2 Nishi 3 Building, Ichigo Daimyo Balcony).”)Value-Add Actions
Ichigo Office has been working to drive higher earnings for shareholders by minimizing
downtime between tenant leases. In advance of the scheduled departure on March 31 ofa tenant which had leased every floor of the Ichigo Nishiki First Building in Nagoya,
Ichigo Office stationed an employee on-site to work closely with local brokers on
leasing activities such as private viewings. Given that the building’s large floor size of
180 tsubo (595m2) is rare for office buildings in its area and its high-end design
specifications include each floor being able to accommodate a variety of layouts
configured to tenant needs, high ceilings, and a high-quality entrance lobby, Ichigo
Office successfully leased up the building in just one month, with an occupancy ofc. 90% as of April-end.
Ichigo Office will continue to work to drive higher earnings for shareholders throughrapid re-tenanting and organic earnings growth.
Ichigo Nishiki First Building2