August 29, 2019
To All Concerned Parties
Real Estate Investment Trust Securities Issuer
1-1-21 Toranomon, Minato-ku, Tokyo
marimo Regional Revitalization REIT, Inc.
Representative: Takashi Kitagata, Executive Director(Securities Code: 3470)
Asset Manager
Marimo Asset Management Co., Ltd.
Representative: Takashi Kitagata, CEOContact:
Katsuhiro Shimada, Financial Management Officer
TEL: +81-3-6205-4755

Notice Concerning Partial Amendments to the Management Guidelines of the Asset Manager
marimo Regional Revitalization REIT, Inc. (“marimo REIT”) hereby announces that Marimo Asset Management Co., Ltd.
(the “Asset Manager”), to which marimo REIT entrusts management of its assets, decided today to make partial
amendments to its management guidelines as described below.
1.

Purpose and Background of the Amendment
marimo REIT invests in attractive residential, retail, hotel, office and parking properties in regional areas to build adiversified portfolio seeking diversification in terms of region and asset type, oriented toward securing both“relatively high investment yield” and “stable earnings” and steady growth of assets under management.
In principle, the Asset Manager revises its management guidelines once a year based on the market trends, legal
system and economic conditions. The Asset Manager is making partial amendments to its management guidelines
with a view to acquiring properties located in cities with populations of around 200,000 people.
The major content of the amendment is as shown in the table below. The amended parts are underlined.

2.

Major Content of the Amendment
Before amendment(Portfolio Management Standards)
Article 5. The portfolio management standards
shall be as below. A complete picture ofeach of the management standards
shall be as shown in Attachment“① Investment Criteria Matrix.”(1) Asset type
(Omitted)

After amendment(Portfolio Management Standards)
Article 5. The portfolio management standards
shall be as below. A complete picture ofeach of the management standards
shall be as shown in Attachment“① Investment Criteria Matrix.”(1) Asset type(No amendment)(2) Investment ratio by region (based onacquisition price)① Regional areas (nationwide regions otherthan the Tokyo metropolitan area)
70% or more
Regional areas are classified into
regional cities and other regions.
“Regional cities” refers to cities withpopulations of 200,000 people or moreother than those in the Tokyo
metropolitan area. “Other regions”
refers to nationwide regions other than(2) Investment ratio by region (based onacquisition price)① Regional areas (nationwide regions otherthan the Tokyo metropolitan area)
70% or more
Regional areas are classified into
regional cities and other regions.
“Regional cities” refers to cities with, inprinciple, populations of 200,000
people or more other than those in theTokyo metropolitan area. “Otherregions” refers to nationwide regions

1regional cities andmetropolitan area.

theTokyoother than regional cities and the Tokyo
metropolitan area. Furthermore, evenif cities have populations falling short of
200,000 people, cities with populations
equivalent thereto may be regarded asregional cities in consideration of theindustry conditions, demographics andother various factors.

② Tokyo metropolitan area (Tokyo, Kanagawa,Chiba and Saitama prefectures)
30% or less② Tokyo metropolitan area (Tokyo, Kanagawa,Chiba and Saitama prefectures)
30% or less(3)–(5) (Omitted)(3)–(5) (No amendment)

Attachment① “Investment Criteria Matrix”
Investment area classification
Regional areas—Regional cities
Cities with populations of 200,000 people
or more other than those in the Tokyo
metropolitan area
Asset type (residential, retail, hotel, officeand parking properties)

Attachment① “Investment Criteria Matrix”
Investment area classification
Regional areas—Regional cities
Cities with, in principle, populations of200,000 people or more (Note 2) otherthan those in the Tokyo metropolitan area
Asset type (residential, retail, hotel, officeand parking properties)(Note 1) (Omitted)(Note 1) (No amendment)(Newly established)(Note 2) Even if cities have populations fallingshort of 200,000 people, cities withpopulations equivalent thereto may be
regarded as regional cities inconsideration
oftheindustryconditions, demographics and othervarious factors.

3.

Date of the Amendment
August 29, 20194.

Outlook for Operating Forecasts
The Amendment will have no impact on the operating forecasts.

*Website of marimo REIT: https://www.marimo-reit.co.jp/en/2