(Securities Code: 8986)
Date of issue: December 5, 2023
Date of commencement of measures for electronic provision: December 4, 2023

Dear Unitholders:
6 - 2 - 1 ,G i n z a ,C h u o - k u ,T o k y oDaiwa Securities Living Investment Corporation
Executive Director Yoshio Urata

Convocation Notice of the 15th General Meeting of Unitholders
This is to inform you that the 15th General Meeting of Unitholders of Daiwa Securities Living Investment Corporation(“Investment Corporation”) will be held as described below. You are cordially invited to attend the General Meetingof Unitholders.
Please note that you may exercise your voting rights via the voting rights exercise form if you will not attend themeeting in person. In such case, you are requested to carefully examine the attached “Reference Documents Concerning
the General Meeting of Unitholders” and, after indicating your vote for or against each proposal on the enclosed voting
rights exercise form, to send such form to us, ensuring that the form will reach us by no later than 5:00 p.m. on Monday,
December 25, 2023, Japan time.
In accordance with Article 93, Paragraph 1 of the Act Concerning Investment Trusts and Investment Corporations,the Investment Corporation has set out the provisions concerning “Deemed Approval” in Article 24 of the current
Articles of Incorporation.
Accordingly, please be aware that if you are not present at the General Meeting of Unitholders and do not exercise
your voting rights via the voting rights exercise form, your voting rights will be included in the number of voting rightsof the unitholders in attendance and the Investment Corporation will deem that you have voted in favor of each proposal
submitted to the General Meeting of Unitholders.
(Extract from the Current Articles of Incorporation of the Investment Corporation)
Article 24 (Deemed Approval)
1. Any unitholder who does not attend a general meeting of unitholders and does not exercise his/her voting rights shall be deemed
to be in favor of any proposal submitted to such general meeting of unitholders (provided, however, that in cases where two or
more proposals are submitted and any such proposal is in conflict in its nature with another proposal, both of such proposals shallbe excluded from such deemed approval).
2. The number of voting rights owned by the unitholder deemed to be in favor of a proposal in accordance with the preceding
paragraph shall be included in the number of voting rights of the unitholders in attendance.

In convening this meeting, the Investment Corporation has taken measures for the electronic provision of information
contained in the Reference Documents Concerning the General Meeting of Unitholders, etc. (the “Electronic Provision
Measures Matters”) and posted the Electronic Provision Measures Matters on the website of the Investment Corporation
as “Convocation Notice of the 15th General Meeting of Unitholders.” Please access the website shown below to viewthe information.
For this General Meeting of Unitholders, a paper copy of the Reference Documents Concerning the General Meetingof Unitholders, etc. has been sent to all unitholders, regardless of whether they have submitted a request for the deliveryof documents.
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Website of the Investment Corporation:
https://www.daiwa-securities-living.co.jp/en/investor/meeting.html
In addition to the website shown above, the Electronic Provision Measures Matters are also posted on the websiteof the Tokyo Stock Exchange. Please access the Tokyo Stock Exchange website (Listed Company Search), enter theissue name (the name of the Investment Corporation) or securities code to search, then click “Basic information” andselect “Documents for public inspection/PR information.” The information can be viewed under “Notice of General
Investors Meeting/Informational Materials for a General Investors Meeting.”
Website of the Tokyo Stock Exchange (Listed Company Search):https://www2.jpx.co.jp/tseHpFront/JJK020010Action.do?Show=Show

Details
1.

Date and Time:

December 26, 2023 (Tuesday) at 10:00 a.m. Japan time2.

Place:

17th Floor, GranTokyo North Tower

3.

Purpose of the General Meeting of Unitholders:

1-9-1 Marunouchi, Chiyoda-ku, Tokyo
Matters to be resolved
Proposal 1

Amendments to the Articles of Incorporation

Proposal 2

Appointment of One (1) Executive Director

Proposal 3

Appointment of One (1) Substitute Executive Director

Proposal 4

Appointment of Two (2) Supervisory Directors
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* If there is no indication of approval or disapproval for the proposals on the voting rights exercise form returned byunitholders, it shall be treated as an indication of approval.
* If you attend the General Meeting of Unitholders in person, please submit the enclosed voting rights exercise form
to the receptionist at the venue.
* If you choose to exercise your voting rights by proxy, you may appoint another unitholder with voting rights to attend
the General Meeting of Unitholders as your proxy. In such case, such proxy shall submit your voting rights exercise
form together with a document certifying the status of the proxy.
* Measures may be taken to prevent the spread of COVID-19 based on the current infection status, etc., within Japan.
We ask all unitholders to understand and cooperate with these measures. In addition, changes may be made to theoperation of the General Meeting of Unitholders depending on the future situation. Any changes will be posted on
the Investment Corporation’s website (https://www.daiwa-securities-living.co.jp/). Kindly check the Investment
Corporation’s website for the changes..
* In the case of any revisions to the Electronic Provision Measures Matters, the matters before and after revision will
be posted on the aforementioned websites of the Investment Corporation and the Tokyo Stock Exchange.

-2-* It is planned to hold a “Session of Asset Management Report” by Daiwa Real Estate Asset Management Co. Ltd.,the asset management company of the Investment Corporation, in the same venue immediately after the conclusionof the General Meeting of Unitholders. A video of the Investment Corporation’s financial results briefing and thefinancial results briefing materials for the fiscal period ended September 30, 2023 (the 35th period) are available forviewing on the Investment Corporation’s website (https://www.daiwa-securities-living.co.jp/).
* We will not be providing souvenirs to unitholders who attend the General Meeting of Unitholders in person. We ask
for your understanding.

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Reference Documents Concerning the General Meeting of Unitholders
Proposals and Reference Items
Proposal 1: Amendments to the Articles of Incorporation
1. Reasons for Amending the Articles of Incorporation(1) The amended provisions stipulated in Item 3 of the supplementary provision of the “Act on Arrangementof Relevant Acts Incidental to Enforcement of the Act Partially Amending the Companies Act” (Act No.
71 of 2019) was enforced on September 1, 2022. Accordingly, the Investment Corporation is deemed tohave established provisions for the electronic provision of the information contained in the reference
documents concerning general meetings of unitholders, etc., effective the same day. The Articles ofIncorporation will be amended to confirm and clarify these provisions. Pursuant to the adoption of
measures for the electronic provision of information, additional provisions will be added to enable theInvestment Corporation to limit the scope of matters included in the paper copy delivered to unitholders
who have requested a paper copy, omitting all or some of the matters for which such omission is allowed
under the Regulation for Enforcement of the Act on Investment Trusts and Investment Corporations(Order of the Prime Minister’s Office No. 129 of 2000). (Related to Article 19 of the current Articles ofIncorporation.)(2) In Article 24 of the current Articles of Incorporation, the Investment Corporation has establishedprovisions based on Article 93, Paragraph 1 of the Act Concerning Investment Trusts and Investment
Corporations, under which unit holders are deemed to have voted in favor of any proposals submitted toa general meeting of unitholders (a deemed approval system) if they do not attend the general meetingof unitholders and do not exercise voting rights (except where several mutually conflicting proposals
have been submitted to the general meeting of unitholders, in which case no vote is recorded).
However, it is effectively difficult to submit proposals with mutually conflicting content to general
meetings of unitholders. Moreover, to more directly reflect the will of unitholders who exercise theirvoting rights regarding proposals that have a significant impact on unitholders’ interests, the Investment
Corporation’s governance structure, etc., these proposals will be excluded from the scope of applicationof the deemed approval system prescribed under Article 24 of the current Articles of Incorporation and
Article 93, Paragraph 1 of the Act Concerning Investment Trusts and Investment Corporations. (Related
to Article 24 of the current Articles of Incorporation.)
2. Details of the Amendments to the Articles of Incorporation
The details of the amendments are set forth below.
(Changed portions are underlined.)
Current Articles of Incorporation

Proposed Amendments

Article 19. (Convocation of General Meetings ofArticle 19. (Convocation of General Meetings ofUnitholders)

Unitholders)

1~2. (Omitted)(New Provision)

1~2. (Unchanged)
3. When convoking general meetings ofunitholders, the Investment Corporation
shall adopt measures for the electronic
provision of the information contained in
the reference document concerning
general meetings of unitholders, etc.

-4-Current Articles of Incorporation

Proposed Amendments(New Provision)

4. The Investment Corporation may omit allor some of the matters subject to measuresfor electronic provision from the paper
copy delivered to unit holders who haverequested a paper copy by the voting
rights record date, where such omission isallowed under the Regulation for
Enforcement of the Act on Investment
Trusts and Investment Corporations.

Article 24. (Deemed Approval)
1. (Omitted)(New Provision)

Article 24. (Deemed Approval)
1. (Unchanged)
2. The provisions of the previous paragraphshall not apply to resolutions on proposals
concerning the following matters.
(1) Dismissal of executive directors,
supervisory directors, or accounting
auditors(2) Amendments to the Articles ofIncorporation (limited, however, tothe establishment, amendment, or
abolition of provisions concerning
deemed approval)(3) Dissolution(4) Approval for the cancellation of theasset management agreement by theasset management company(5) Cancellation
of
the
asset
management agreement by theInvestment Corporation
3. The number of voting rights owned by theunitholder deemed to be the approval fora proposal in accordance with paragraph
1 above shall be included in the numberof voting rights of the unitholders inattendance.

2. The number of voting rights owned by theunitholder deemed to be the approval fora proposal in accordance with thepreceding paragraph shall be included in
the number of voting rights of theunitholders in attendance.

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Proposal 2: Appointment of One (1) Executive Director
Since the tenure of Executive Director Yoshio Urata will expire upon the conclusion of this General Meetingof Unitholders, the Investment Corporation requests the new appointment of one Executive Director. It should be
noted that the tenure of Executive Directors in this proposal shall be subject to the provisions of Article 99,
Paragraph 2 of the Investment Trust Act and the proviso of Article 28, Paragraph 1 of the Articles of Incorporation,and shall be from the date of appointment of December 26, 2023 until the conclusion of the General Meeting ofUnitholders to be held within 30 days from the day following that on which two years have passed since theappointment, at which the appointment of an Executive Director will be proposed.
In addition, this proposal was submitted with the consent of all Supervising Directors of the Investment
Corporation at the meeting of the Board of Directors held on November 22, 2023.
The candidate for Executive Director is as set forth below.
Name(Date of Birth)

Tetsuo Akuzawa(January 30, 1962)

1.
2.
3.

Professional History and Significant Concurrent
P
o
s
i
t
i
o
n
s
April 1985
Joined Daiwa Securities Co., Ltd. (currently, Daiwa
Securities Group Inc.)
July 2005
Manager of Investor Relations Department of Daiwa
Securities Group Inc.
June 2008
General Manager of Personnel Department of Daiwa
Securities Group Inc.
April 2010
Corporate Executive Officer (Legal Affairs Officer &Deputy Human Resources Officer; in charge of
Secretariat, Personnel Department, and Legal
Department; Manager of Secretariat; and General
Manager of Personnel Department) of Daiwa Securities
Group Inc.
April 2011
Executive Officer (Global Equity Sales Officer) of
Daiwa Securities Capital Markets Co. Ltd. (currently,
Daiwa Securities Co. Ltd.)
April 2012
Executive Officer (Equities Officer & Research Officer)of Daiwa Securities Co. Ltd.
April 2013
Executive Managing Director (Asia/Oceania Officer) of
Daiwa Securities Group Inc.; Chairman of the Board of
Daiwa Capital Markets Hong Kong Limited; Chairmanof the Board of Daiwa Capital Markets Singapore
LimitedApril 2015
President of Daiwa Fund Consulting Co. Ltd.
April 2022
Resignation from Daiwa Fund Consulting Co. Ltd.

The above-referenced candidate for Executive Director does not hold any investment units of the Investment
Corporation.
There are no special interests between the above-referenced candidate for Executive Director and the Investment
Corporation.
The Investment Corporation shall execute an officer, etc., liability insurance contract as prescribed in Article 1163, Paragraph 1 of the Act on Investment Trusts and Investment Corporations with an insurance company, anddamage such as compensation for damages and litigation expenses, etc., borne as a result of having become subject
to a claim for compensation for damages due to an act performed by a covered person in relation to their work as
an officer of the Investment Corporation shall be covered by said insurance contract to a certain extent. In theevent of the above-referenced candidate for Executive Director being appointed as Executive Director, he shall be
included in the persons covered by said insurance contract. In addition, the Investment Corporation plans to
execute a further contract with the same content upon the expiration of the term of said insurance contract.
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Proposal 3: Appointment of One (1) Substitute Executive Director
To prepare for cases where there is a vacancy in the office of Executive Director or where there are fewer
Executive Directors than the number prescribed in laws and ordinances, the Investment Corporation requests theadvance appointment of one substitute Executive Director. The tenure in the case of the substitute Executive
Director appointed in this proposal becoming an Executive Director, based on the provisions of the third sentenceof Article 28, Paragraph 1 of the Articles of Incorporation, shall be subject to the application of the provisions ofArticle 99, Paragraph 2 of the Investment Trust Act and the proviso of Article 28, Paragraph 1 of the Articles ofIncorporation.
It should be noted that in this Proposal, the period during which the proposal on the appointment of a substituteExecutive Director shall have effect, based on the provisions of Article 28, Paragraph 2 of the Articles ofIncorporation, shall be until the expiration of the tenure of the Executive Director in Proposal 2.
In addition, this Proposal was submitted with the consent of all Supervisory Directors of the Investment
Corporation at the meeting of the Board of Directors held on November 22, 2023.
The candidate for substitute Executive Director is as set forth below.
Name(D at e of B ir th)

Yoshiki Nishigaki(January 28, 1969)

Professional History and Significant Concurrent
P
o
s
i
t
i
o
n
s
April 1992
Joined City Trust Bank Co., Ltd.
May 2004
Joined daVinci Advisors Co., Ltd.
February 2006
Transferred to daVinci Select Co., Ltd. (currently, Daiwa
Real Estate Asset Management Co. Ltd.)March 2007
General Manager of IR General Planning Department of
daVinci Select Co., Ltd. (currently, Daiwa Real Estate
Asset Management Co. Ltd.)March 2008
President and Representative Director of daVinci SelectCo., Ltd. (currently, Daiwa Real Estate AssetManagement Co. Ltd.)
November 2008 Executive Director of Daiwa Office Investment
Corporation
May 2010
Vice President and Representative Director of Daiwa
Real Estate Asset Management Co. Ltd.
February 2011
Vice President and Representative Director and General
Manager of the Advisory Business Department of Daiwa
Real Estate Asset Management Co. Ltd.
April 2012
Vice President and Representative Director and General
Manager of Fund Management Department of Daiwa
Real Estate Asset Management Co. Ltd.
October 2013
Vice President and Representative Director, General
Manager of Sales Promotion Department, and General
Manager of Fund Management Department of Daiwa
Real Estate Asset Management Co. Ltd.
April 2014
Vice President and Representative Director and General
Manager of Fund Management Department of Daiwa
Real Estate Asset Management Co. Ltd.
April 2017
Vice President and Representative Director, General
Manager of Fund Division, and General Manager ofFund Management Department of Daiwa Real Estate
Asset Management Co. Ltd.
April 2019
Vice President and Representative Director and General
Manager of Fund Division of Daiwa Real Estate AssetManagement Co. Ltd.

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June 2021

April 2022

1.

Vice President and Representative Director, General
Manager of Fund Division, and Manager of the
Sustainability Promotion Office of Daiwa Real Estate
Asset Management Co. Ltd.
President and Representative Director and General
Manager of Acquisition and Asset Management Divisionof Daiwa Real Estate Asset Management Co. Ltd.
(present)

The above-referenced candidate for substitute Executive Director does not hold any investment units of theInvestment Corporation.

2.

The above-referenced candidate for substitute Executive Director is the President and Representative Director of
Daiwa Real Estate Asset Management Co. Ltd., which is an asset management company of the Investment
Corporation.

3.

Other than the above, there are no special interests between the above-referenced candidate for substituteExecutive Director and the Investment Corporation.

4.

The above-referenced substitute Executive Director may have their appointment canceled by resolution of theBoard of Directors of the Investment Corporation prior to taking office.

5.

The Investment Corporation shall execute an officer, etc., liability insurance contract as prescribed in Article 1163, Paragraph 1 of the Act on Investment Trusts and Investment Corporations with an insurance company, anddamage such as compensation for damages and litigation expenses, etc., borne as a result of having become subject
to a claim for compensation for damages due to an act performed by a covered person in relation to their work as
an officer of the Investment Corporation shall be covered by said insurance contract to a certain extent. In theevent of the above-referenced candidate for substitute Executive Director being appointed as Executive Director,
he shall be included in the persons covered by said insurance contract. In addition, the Investment Corporationplans to execute a further contract with the same content upon the expiration of the term of said insurance contract.

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Proposal 4: Appointment of Two (2) Supervisory Directors
Since the tenures of Supervisory Directors Akimitsu Takai and Chizuko Nakata will expire upon the conclusionof the General Meeting of Unitholders, the Investment Corporation requests the appointment of two Supervisory
Directors. It should be noted that the tenure of Supervisory Directors in this proposal shall be subject to theprovisions of Article 99, Paragraph 2 of the Investment Trust Act to which Article 101, Paragraph 2 of the Act
applies mutatis mutandis and the proviso of Article 28, Paragraph 1 of the Articles of Incorporation, and shall befrom the date of appointment of December 26, 2023 until the conclusion of the General Meeting of Unitholders
to be held within 30 days from the day following that on which two years have passed since the appointment, atwhich the appointment of Supervisory Directors will be proposed.
The candidates for Supervisory Directors are as set forth below.
Candidate
Number

1

2

1.

Name
(Date of Birth)

Akimitsu Takai(June 5, 1968)

C h iz uko N a k a ta
(September 29, 1956)

Professional History, Significant Concurrent Positions, andPosition in the Investment Corporation
April 1995
Joined Asahi Law Office (currently, Asahi Law
Office, Nishimura & Asahi Law Office)June 1999
Joint Partner of Sudo and Takai Law Office
September
Auditor of Japan Cycle Co., Ltd. (present)
2010
June 2016
Outside Auditor of Take and Give Needs Co., Ltd.
(present)
Representative of Takai Law Office (present)
June 2017
Outside Auditor of NEW ART HOLDINGS Co.,
Ltd. (present)
NovemberOutside Director (Audit and Supervisory Committee
2020
Member) of Kojima Co., Ltd. (present)
February 2021 Outside Director of Noda Corporation (present)
December 2021 Supervisory Director of the Investment Corporation(present)
November 1981 Joined Coopers & LybrandRegistered as a certified public accountant
March 1984
Representative of Nakata CPA Firm (present)
Representative Director of Nakata Business
July 1996
Consulting LLC (currently, Nakata Business
Consulting Co., Ltd.) (present)
Registered as a certified public tax accountant
May 2000
Supervisory Director of Nippon Healthcare
August 2014
Investment Corporation
December 2015 Auditor of Nihon Nohyaku Co., Ltd.
Supervisory Director of the Investment Corporation
April 2020(present)
Outside Director (Audit & Supervisory Committee
June 2020
Member) of Nihon Nohyaku Co., Ltd. (present)

None of the above-referenced candidates for Supervisory Directors hold investment units of the Investment
Corporation.

2.

Both of the candidates currently supervise the general operations of the Investment Corporation by its Executive
Directors as Supervisory Directors of the Investment Corporation.

3.

There are no special interests between the above-referenced candidates for Supervisory Directors and theInvestment Corporation.

4.

The Investment Corporation shall execute an officer, etc., liability insurance contract as prescribed in Article 116-9-

3, Paragraph 1 of the Act on Investment Trusts and Investment Corporations with an insurance company, anddamage such as compensation for damages and litigation expenses, etc., borne as a result of having become subject
to a claim for compensation for damages due to an act performed by a covered person in relation to their work as
an officer of the Investment Corporation shall be covered by said insurance contract to a certain extent. Both of
the above-referenced candidates for Supervisory Directors are currently included in the persons covered by said
insurance contract as Supervisory Directors. In the event of the above-referenced candidates for Supervisory
Directors being appointed as Supervisory Directors, they shall both continue to be included in the persons coveredby said insurance contract. In addition, the Investment Corporation plans to execute a further contract with thesame content upon the expiration of the term of said insurance contract.

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Reference Items
In cases where two or more proposals are submitted to the General Meeting of Unitholders and one proposal is in
conflict in its nature with another proposal, both of such proposals shall be excluded from “deemed approval”
prescribed in Article 24 of the current Articles of Incorporation pursuant to Article 93, Paragraph 1 of the Act
Concerning Investment Trusts and Investment Corporations.
With respect to Proposal 1 through Proposal 4 above, none of them fall under the category of conflicting proposals.
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