[For Translation Purposes Only]
September 19, 2019

For Immediate Release
To Whom It May Concern
Nomura Real Estate Master Fund, Inc.
Securities Code: 3462
Shuhei Yoshida, Executive Director
Asset Management Company:
Nomura Real Estate Asset Management Co., Ltd.
Norio Ambe, President & Chief Executive Officer
Inquiries:
Hiroshi Ishigooka
Executive Officer
Head of NMF Investment Management Group
TEL. +81-3-3365-8767 nmf3462@nomura-re.co.jp

Notice Concerning Changes in Organization and Changes in Directors andImportant Employees in Asset Management Company
Nomura Real Estate Master Fund, Inc. (“Nomura Master Fund” or the “Fund”) announced theresolution 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, regarding the changes inorganization and changes in directors and important employees as described below.
The above changes in organization and changes of directors and important employees will beeffective as of October 1, 2019.
1. Changes in Organization
NREAM will abolish Investment Management Department, Product Development
Department, Research & Analysis Department and Investment Management Planning
Department and establish Investment Management Planning Department and Private FundManagement Department for the purpose to enhance efficiency of the organization
management in NREAM.
Please refer to the Attachment for the organization charts before and after the changes.
2. Changes in Directors (as of October 1, 2019)
NameTitle (New)

Hiroyuki Kimura

Representative Director, Vice
President and Executive Officer
in charge of the Private FundManagement Department, NMF
Investment Management Group,
NPR Investment Management
Department, and Chief StrategyOfficer1Title (Former)
Representative Director, VicePresident and Executive Officer
in charge of the ProductDevelopment Department,
Research & Analysis Department,
Investment Management Planning
Department, NMF Investment
Management Group, NPR
Investment Management
Department, and Chief Strategy

Officer

Fumiki Kondo

Representative Director andSenior Managing Executive
Officerin charge of the Corporate
International Business Planning
Department and Investment
Management Planning
Department

Representative Director andSenior Managing Executive
Officerin charge of the Corporate
International Business Planning
Department and Investment
Management Department

3. Changes in Important Employees (as of October 1, 2019)
NameTetsuya Ohira

Title (New)
Executive OfficerGeneral Manager of the AssetManagement Department II ofthe NMF Investment
Management GroupTitle (Former)
Executive Officer
General Manager of the Research& Analysis Department

Executive Officer
Head of the NMF Investment
Executive Officer
Management Group and General
Hiroshi Ishigooka
Head of the NMF Investment
Manager of the AssetManagement GroupManagement II of the NMF
Investment Management Group
Executive Officer
Executive Officer
Tsuyoshi Yata
General Manager of the Private
General Manager of the Product
Fund Management Department
Development Department
Executive Officer
Executive Officer
General Manager of theGeneral Manager of theHiroyuki Nakagawa
Investment Management Planning Investment Management PlanningDepartment
Department
Executive Officer
Keiichi Kajita(Resignation)
Head of the Investment
Management Department
NREAM will report these changes to competent authorities pursuant to the Financial
Instruments and Exchange Act, the Building Lots and Buildings Transaction Business Act andother applied laws and regulations.
*<Nomura Real Estate Master Fund, Inc.> URL: http://www.nre-mf.co.jp/english/

2

（Attachment）(Before Change)

Statutory Auditors

President & CEO

Board of Directors

Corporate Planning
International Business Planning
Legal & ComplianceInternal Audit
Finance & Accounting
Client Relations & Marketing
Acquisitions
Investment Management Planning

NMF Investment Management Group

Chief Strategy Officer

Project Screening Committee

NPR Valuation Committee

Compliance Committee

Risk Management Committee

Private Fund Management
Investment Committee

General Meeting of Shareholders(After Change)

Fund Management
Asset Management I
Asset Management II

NPR Investment Management3