June 30, 2017
To All Concerned Parties
Name of REIT Issuer:
Invincible Investment Corporation
Naoki Fukuda, Executive Director
Roppongi Hills Mori Tower, 6-10-1 Roppongi,Minato-ku, Tokyo, Japan(Securities code: 8963)
URL: http: //www.invincible-inv.co.jp/eng/
Asset manager:
Consonant Investment Management Co., Ltd.
Naoki Fukuda, CEOContact: Jun Komo
General Manager of Planning Department(Tel. +81-3-5411-2731)

Notice concerning Change of Key Employee of Asset Manager
Invincible Investment Corporation (INV) hereby announces that its asset manager, Consonant
Investment Management Co., Ltd., has, at the board of directors’ meeting held today, decided tomake the following key employee change.
Details
Change of key employee
Key employee to be appointed (as of July 1, 2017)
General Manager, Finance Department
Nobuaki Mimori*
Key employee to retire (as of June 30, 2017)
General Manager, Finance Department
Tetsuro Ikeda* For the details of the brief personal history of new General Manager of Finance Department,
please refer to the Attachment on the next page.
Required procedures such as notification etc. of the above change will be taken in accordance withthe provisions of the Financial Instruments and Exchange Act, the Building Lots and Building
Transactions Business Act and other applicable laws and regulations.
EndThis English language notice is a translation of the Japanese-language notice released on June 30, 2017 and was prepared solely for theconvenience of, and reference by, non-Japanese investors. It is not intended as an inducement or solicitation for investment. We
caution readers to undertake investment decisions based on their own investigation and responsibility. This translation of the originalJapanese-language notice is provided for informational purposes only, and no warranties or assurances are given regarding the accuracy
or completeness of this English translation. Readers are advised to read the original Japanese-language notice. In the event of any
discrepancy between this translation and the Japanese original, the latter shall prevail in all respects.

<Attachment>

Title
General Manager,
Finance
Department

Name
NobuakiMimori

Apr. 1998

Sep. 2003
Mar. 2007

Apr. 2009
Apr. 2011
Apr. 2014

Apr. 2015

Aug. 2016
Jun. 2017

Jul. 2017

Brief Personal History
Joined Mitsui Trust and Banking Company,
Limited (Current: Sumitomo Mitsui Trust Bank,
Limited）
Joined Japan Real Estate Institute
Joined Mitsubishi Corp.-UBS Realty Inc.
Manager of Acquisition Department IndustrialDivision
Manager of Planning & Coordination Department
Industrial Division of the same
Senior Manager of Planning & Coordination
Department Industrial Division of the same
Senior Manager of Planning & Coordination
Department Industrial Division, and Finance
Department Corporate Division of the same
Deputy General Manager of Planning &Coordination Department Industrial Division, andFinance Department Corporate Division of thesame
Joined Spring Investment Co., Ltd.
Senior Vice President of Corporate Planning
Joined Consonant Investment Management Co.,
Ltd. as Staff General Manager of Finance
Department
To be Appointed as General Manager of Finance
Department of the same (planned)

This English language notice is a translation of the Japanese-language notice released on June 30, 2017 and was prepared solely for theconvenience of, and reference by, non-Japanese investors. It is not intended as an inducement or solicitation for investment. We
caution readers to undertake investment decisions based on their own investigation and responsibility. This translation of the original
Japanese-language notice is provided for informational purposes only, and no warranties or assurances are given regarding the accuracy
or completeness of this English translation. Readers are advised to read the original Japanese-language notice. In the event of any
discrepancy between this translation and the Japanese original, the latter shall prevail in all respects.