Creating peace of mind through honest and committed management.

[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.

May 11, 2015
REIT Issuer
Ichigo Real Estate Investment Corporation (8975)
1-1-1, Uchisaiwaicho, Chiyoda-ku, Tokyo
Representative: Yoshihiro Takatsuka, Executive Director
Asset Management Company
Ichigo Real Estate Investment Advisors Co., Ltd.
Representative: Wataru Orii, President & Representative Statutory Executive Officer
Inquiries: Hiroto Tajitsu, Head of Administration
Tel: 03-3502-4891

Ichigo REIT Portfolio Occupancy (Flash Data) – April 2015
Ichigo Real Estate Investment Corporation (“Ichigo REIT”) hereby announces its portfolio
occupancy as of the end of April 2015:Total
By Asset
TypeEnd of March2015(Final: A)
96.0%

End of April2015(Flash: B)
96.0%

Difference(B-A)－Offices
Others

96.0%

96.1%

+0.1%

96.2%

96.0%

-0.2%

Central Tokyo

96.6%

96.8%

+0.2%

96.3%

96.0%

-0.3%

94.0%

94.8%

+0.8%

96.0%

95.7%

-0.3%

65605
184,943.98m2
177,628.01m2

65606
184,900m2
177,500m2

－+1

Tokyo
Metropolitan Area
By Area
Four Major
Regional Cities
Other RegionalCities
No. of Assets
No. of Tenants
Leasable Area
Leased Area

(Note 1) The above figures have not been audited.
(Note 2) Leasable Area is the total space of the individual properties that is available to be leased
and is subject to minor adjustments due to refurbishing or individual rental contract terms.
(Note 3) “Central Tokyo” refers to Chiyoda, Minato, Chuo, Shinjuku, Shibuya, and Shinagawa
Wards. “Tokyo Metropolitan Area” refers to Tokyo (excluding the six wards above),
Kanagawa, Chiba, and Saitama Prefectures. “Four Major Regional Cities” refers to Osaka,Nagoya, Fukuoka, and Sapporo.
(Note 4) Leasable Area and Leased Area for Flash Data are rounded down to the nearest hundred
square meters.

1Explanation of Changes
New tenants at the Ichigo Kanda-Nishikicho Building and the Ichigo Meieki Building resulted
in improved occupancy for Offices, Central Tokyo, and Four Major Regional Cities. Meanwhile,lease terminations at the Ichigo Shin-Yokohama Building and the Ichigo Kumamoto Building
decreased occupancy in Tokyo Metropolitan Area and Other Regional Cities.
Leasing and Value Enhancement Activities
When Ichigo REIT acquired the Ichigo Sagamihara Building in January, it was 90.5% occupied.
Four months later, the building is now 100% occupied thanks to hands-on tenant relationshipbuilding and direct leasing efforts by Ichigo REIT sponsor Ichigo Group Holdings (“Ichigo”).
Specifically, Ichigo learned that two of the existing tenants desired a larger space and that aprospective tenant was interested in moving into the building. By working with all three tenants
to find the optimal timing to move them within and into the building, Ichigo was successful inoffering a solution to meet the needs of all three tenants.
Leasing Activities at Ichigo Sagamihara Building(Before)7F

Occupied

Com pany B

Occupied

6F
5F

VacantOccupied

4F

Occupied

Com pany A

3F

Occupied2F

Occupied

1F

Occupied(After)7F( New Tenant)Occupied

Com pany C

Occupied

6F
5F

Company A

Occupied

4F

Occupied

Com pany B

3F

Occupied2F

Occupied

1F

Occupied

Note: Company A and Company B are existing tenants who moved within the building to fulfill
their needs for larger space.
Website of Ichigo REIT: www.ichigo-reit.co.jp/english

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