April 6, 2011
To All Concerned Parties
Issuer of Real Estate Investment Trust Securities
1-1, Nihonbashi-Muromachi 2-chome, Chuo-ku, Tokyo 103-0022
Nippon Accommodations Fund Inc.
Executive Director Yuji Yokoyama(Code number 3226)
Investment Trust Management Company
Mitsui Fudosan Accommodations Fund Management Co., Ltd.
President and CEO Kosei Murakami
Contact CFO and Director Morio Shibata(TEL 03-3246-3677)

Notification Concerning the Change of Director and Important Employee
at the Asset Management Company
This is a notification that at the Board of Directors’ meeting on March 17, 2011, Mitsui FudosanAccommodations Fund Management (“the Asset Management Company”), an Asset Management Company,
which has been commissioned by Nippon Accommodations Fund Inc., ("NAF") to manage its assets, decided
that the change of Director representing the Asset Management Company will be put up for discussion at theextraordinary general meeting of Unitholders planned for March 30, 2011, and the change of important
employee.
1.

New Director (effective April 1, 2011)
Director (full-time)

Ryo Nishimoto

Chief Compliance Officer Takashi Noguchi※Please refer to the exhibit for the archival record.

2.

Exiting Director (effective March 31,2011)Director (full-time)

Shin Kiwaki

Chief Compliance Officer Tetsuya Kanazawa

In addition, this matter will be respectively reported to the Chief of Financial Services Agency in accordance with
the Financial Instrument Transaction Law, and the Minister of Land, Infrastructure, Transport and Tourism inaccordance with authorization by business representative and also to the Governor of Tokyo in accordance with
the Real Estate Business Law.
NAF website: http://www.naf-r.jp/english/index.html* This English language notice is a translation of the Japanese language notice dated March 17, 2011 and wasprepared solely for the convenience of, and reference by, overseas investors.
NAF makes no warranties as to its accuracy or completeness.

(Exhibit)

Title

Name

Director

Ryo(full-time)

NishimotoChief ComplianceTakashi

Officer

Noguchi

Career Summary
April, 1985

Joined Saitama Bank, Ltd. (Now Resona Bank,Limited.）

March, 1994

Joined The Japan Bond Research Institute Co., Ltd.
(Now Rating and Investment Information, Inc.)

November ,2000

Joined Mitsui Fudosan Co., Ltd.; Transferred to Mitsui
Fudosan Investment Advisors, inc.

April, 2008

Planning and Research Department, Mitsui FudosanCo., Ltd.;

April, 1979

Joined Mitsui Fudosan Co., Ltd.;
Condominium Apartments Department

April, 1983

Hiroshima Branch of the same;

April, 1988

Suburban Development Department;

October, 1989

Transferred to Tsukuba High tech Forum Park Co.,Ltd.;

April, 1992

Suburban Development Department, Mitsui FudosanCo., Ltd.;

April, 1995

Chiba Branch of the same;

April, 1998

Transferred to M.F. Food Service Co., Ltd. (Now AIM
SERVICES Co., ltd.) ;October, 1999

Transferred to Mitsui Fudosan Loan Guarantee Co.,Ltd.;

April, 2004

CARE DESIGN Business Planning Department, MitsuiFudosan Co., Ltd.;

April, 2005Accommodations Business Division,
Leasing Business Department;

April, 2008

Accommodations Business Division, Project planningand Development Department;

Residential