Make The World
More Sustainable[Provisional Translation Only]
This English translation of the original Japanese document is provided solely for information purposes.
Should there be any discrepancies between this translation and the Japanese original, the latter shall prevail.

April 16, 2024
IssuerIchigo Hotel REIT Investment Corporation (“Ichigo Hotel,” 3463)
2-6-1 Marunouchi, Chiyoda-ku, Tokyo
Representative: Eriko Ishii, Executive Director
www.ichigo-hotel.co.jp/en
Asset Management Company
Ichigo Investment Advisors Co., Ltd.
Representative: Hiroshi Iwai, President
Inquiries: Hidehito Iwasaka, Head of Ichigo Hotel
Tel: +81-3-4485-5232

Change in Specified Related Corporation Parties
There has been a change in Ichigo Hotel’s specified related corporation parties as follows.
1. Reason for Change
During the past three years from the last day of the January 2024 fiscal period(August 1, 2023 to January 31, 2024), the total amount paid by Ichigo Hotel to Ichigo
Estate (a wholly-owned subsidiary of Ichigo, Ichigo Investment Advisor’s (“IIA”)
parent company, and a related party of IIA) to acquire juekiken, trust beneficiary interestin real estate (including real estate, real estate leasehold rights, and superficies rights),
has exceeded 20% of all acquisitions and sales of juekiken paid by and to Ichigo Hotelfor the same period. As such, Ichigo Estate became a specified related corporation, acorporation engaging in transactions stipulated under Article 29-3, Clause 3, Item 2 of
the Order for Enforcement of the Financial Instruments and Exchange Act, on
February 1, 2024.
2. Date of Change
February 1, 2024
3. Specified Related Corporation Overview(1) Name(2) Address(3) Representative(4) Business(5) Paid-In Capital(6) Establishment Date
(7) Net Assets

Ichigo Estate
2-6-1 Marunouchi, Chiyoda-ku, Tokyo
President & Representative Director
Yasuhide Hosono
Preserving and improving existing real estate via
value-add
JPY 500 million
November 10, 2005
JPY 23,876 million (as of February 28, 2023)
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JPY 110,605 million (as of February 28, 2023)(8) Total Assets
Ichigo 100% (as of February 29, 2024)(9) Major Shareholder(10) Relationship to Ichigo Hotel or IIA
There is no capital relationship of note between
Ichigo Hotel and Ichigo Estate. Ichigo Estate is a
Capitalwholly-owned subsidiary of Ichigo, IIA’s parent
Relationshipcompany, and is a related party of IIA as definedin Article 201, Clause 1 of the Investment Trustand Investment Corporation Law.
Although there is no personnel relationship ofPersonnel
note between Ichigo Estate and Ichigo Hotel orRelationship
IIA, there is a personnel relationship between
Ichigo Estate’s parent company, Ichigo, and IIA.
Ichigo Hotel acquired the juekiken of HOTEL
THE KNOT YOKOHAMA, Quintessa Hotel IseTransactional
Shima, Quintessa Hotel Ogaki, and THE KNOT
Relationship
SAPPORO from Ichigo Estate on August 25,2023.
Ichigo Estate is a related party of IIA as defined
Related Partyin Article 201, Clause 1 of the Investment Trust
Applicability
and Investment Corporation Law.
4. Earnings Impact
Although the change in Ichigo Hotel’s specified related corporation parties occurred onFebruary 1, 2024, it has no impact on the July 2024 fiscal period earnings forecast.
Ichigo Hotel will submit the necessary documents for the change in line with theFinancial Instruments and Exchange Act, Real Estate Brokerage Act, and other relevantlaws and regulations.

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