[For Information Purpose Only.
The Japanese language press release should be referred to as the original.]
November 20, 2017
To All Concerned Parties
Name of REIT Issuer:
Invincible Investment Corporation
Name of representative:
Naoki Fukuda, Executive Director
Roppongi Hills Mori Tower
6-10-1 Roppongi, Minato-ku, Tokyo, Japan(Securities code: 8963)
Asset manager:
Consonant Investment Management Co., Ltd.
Naoki Fukuda, CEOContact: Jun Komo
General Manager of Planning Department(Tel. +81-3-5411-2731)

Notice concerning “Most Popular Store of W11 2017” won by MHM
Invincible Investment Corporation (“INV”) has been informed by MyStays Hotel Management
Co., Ltd (“MHM”), the main operator of hotels owned by INV, that MHM was selected by Fliggy,a business of Alibaba Group, as one of the “Most Popular Stores” during the 11.11 Global
Online Shopping Festival held on November 11, 2017. The event, also known as Single’s Day,is the largest 24-hour online sale in the world started by Alibaba Group. MHM was one of only
two Japanese companies to win the Most Popular Stores award, and the only hotel chain.
MHM was also a recipient of the “Most Popular Hotel Group Brand Award”, the only hotel chain
in Japan to win the award.
In connection with the Global Shopping Festival, CCTV broadcasted a TV segment on MHM'
initiatives to attract and welcome foreign visitors including social media promotions with a top
Chinese blogger and the use of Pepper as a multilingual robot concierge.
Fliggy, formerly known as Alitrip, is a travel service platform under Alibaba Group that offers
Chinese consumers a wide range of products and services including domestic and international
airline tickets, train and bus tickets, hotel bookings, vacation packages and tourist attraction
tickets, through online travel agencies and direct travel service providers. It provides travelindustry players like MHM with valuable insights about Chinese travelers. As of the end of2016, Fliggy had more than 200 million members on its platform.
The above is an example of the on-going and potential synergies with SoftBank Group Corp.,
which owns 29.5% of Alibaba Group Holding Limited, the world’s largest e-commerce company,
and is in the process of acquiring our sponsor, Fortress Investment Group, LLC. Currently,
This English language notice is a translation of the Japanese-language notice released on November 20 2017 and was prepared solely for the convenience of, andreference by, non-Japanese investors. It is not intended as an inducement or solicitation for investment. We caution readers to undertake investment decisions basedon their own investigation and responsibility. This translation of the original Japanese-language notice is provided for informational purposes only, and no warranties orassurances are given regarding the accuracy or completeness of this English translation. Readers are advised to read the original Japanese-language notice. In theevent of any discrepancy between this translation and the Japanese original, the latter shall prevail in all respects.

there are 42 MHM hotels on the Fliggy platform, of which 26 hotels are owned by INV.
Separately, 10 of the hotels operated by MHM accept payment via Alipay, a third-party payment
platform operated by Ant Financial, a related company of Alibaba Group. MHM plans to
expand the use of Alipay to all hotels by the end of the year.

Website of INV: http://www.invincible-inv.co.jp/eng

This English language notice is a translation of the Japanese-language notice released on November 20 2017 and was prepared solely for the convenience of, andreference by, non-Japanese investors. It is not intended as an inducement or solicitation for investment. We caution readers to undertake investment decisions basedon their own investigation and responsibility. This translation of the original Japanese-language notice is provided for informational purposes only, and no warranties orassurances are given regarding the accuracy or completeness of this English translation. Readers are advised to read the original Japanese-language notice. In theevent of any discrepancy between this translation and the Japanese original, the latter shall prevail in all respects.