For Translation Purposes Only
August 27, 2015
For Immediate Release
Nomura Real Estate Master Fund, Inc.
Satoshi Yanagita, Executive Director(Securities Code: 3285)
Asset Management Company:
Nomura Real Estate Asset Management Co., Ltd.
Norio Ambe, President and Chief Executive Officer
Inquiries: Motomi Uki, General Manager, NMF Investment Management
TEL: +81-3-3365-8767
EMAIL: nmf3285@nomura-re.co.jp

Notice Concerning Scheduled Changes in Organization,and Changes in Important Employees of the Asset Management Company
Nomura Real Estate Master Fund, Inc. (“Nomura Master Fund” or the “Fund”) announced
the resolution of Nomura Real Estate Asset management Co., Ltd. (“NREAM”), a licensed
investment trust management company retained by the Fund to provide asset management
services, at NREAM’s Board of Directors Meeting held today, the changes in organization andchanges in important employees, as follows.
The changes in organization and changes in important employees, as mentioned above, are allscheduled to be effective on October 1, 2015.
1. Changes in Organization
NREAM will establish NMF Investment Management Group, and will establish FundManagement Department, Asset Management Department I, and Asset Management
Department II under NMF Investment Management Group, for rebuilding the asset
management structure along with the merger between the Fund, Nomura Real Estate Office
Fund, Inc., and Nomura Real Estate Residential Fund, Inc., scheduled on October 1, 2015.
NREAM will also demolish NOF Investment Management Department, NRF Investment
Management Department, NMF Investment Management Department, and Investment
Performance Analysis Section.
Please refer to the attachment for the organization chart before and after the changes.

2. Changes in Important Employees
Due to the changes regarding the new structure, changes in important employees havebeen determined at NREAM’s Board of Directors Meeting held today, as mentioned below.
Important Employees scheduled to assume office (as of October 1, 2015)
NameTitle (New)
Title (Former)
Motomi Uki

Shoji Yoshihara
Tetsuya Ohira

Head of NMF Investment Management
Group,General Manager, Fund Management
Department, NMF Investment
Management Group
General Manager, Asset Management
Department I, NMF Investment
Management Group
General Manager, Asset Management
Department II, NMF Investment
Management Group

General Manager, NMF Investment
Management Department
General Manager, NOF Investment
Management Department
General Manager, NRF Investment
Management Department

The Fund will report these changes pursuant to the Financial Instruments and Exchange Law,
Building Lots and Buildings Transaction Business Law, and other applied laws and regulations.
*<Nomura Real Estate Master Fund, Inc> URL: http://www.nre-mf.co.jp/english/

Statutory Auditors

Corporate Planning
Legal & ComplianceInternal Audit
Accounting
Discretionary Investment Management Section

Investment Performance Analysis Section

President & CEO

Board of Directors

General Meeting of Shareholders

Board of Statutory Auditors(Reference) Organization chart before change (current structure) and after change[Before change (current structure)]

Finance
Client Relations & Marketing
Investment Management

Chief Strategy Officer

Project Screening Committee

NPR Valuation Committee

Risk Management Committee

Compliance Committee

Investment Committee

Product Management
Research & Analysis Section
Acquisitions
Investment Management Planning
NOF Investment Management
NRF Investment Management
NMF Investment Management
NPR Investment Management

Statutory Auditors

Corporate Planning
Legal & ComplianceInternal Audit
Accounting
Finance

President & CEO

Board of Directors

Discretionary Investment Management Section

Client Relations & Marketing
Investment Management

Product Management
Acquisitions
Investment Management Planning
NMF Investment Management Group

Chief Strategy Officer

Project Screening Committee

NPR Valuation Committee

Risk Management Committee

Compliance Committee

Research & Analysis Section

Investment Committee

General Meeting of Shareholders

Board of Statutory Auditors[After change]

Fund Management
Asset Management I
Asset Management II

NPR Investment Management