May 26, 2020
Provisional translation only

Fukuoka REIT Corporation
1-2-25 Sumiyoshi, Hakata Ward, Fukuoka City
Etsuo Matsuyuki
Executive Director(Securities Code: 8968)
Asset Management Company:
Fukuoka Realty Co., Ltd.
1-2-25 Sumiyoshi, Hakata Ward, Fukuoka City
Etsuo Matsuyuki
CEO & Representative Director
Inquiries:
Keishi Tamura
General Manager of Finance Department
TEL: +81-(0)92-272-3900

Notice Concerning Change in Master Lease/Property Management Company and Property Management Company
Fukuoka REIT Corporation (FRC) hereby announces a change in its master lease/property management company(the MLPM Company) and its property management company (the PM Company) as detailed below.
1. Overview of the change
As of June 1, 2020, the MLPM Company and the PM Company of the properties managed by FRC(collectively, the “Properties”) will be changed as follows. In light of this, Fukuoka Realty Co., Ltd., theasset management company of FRC, decided today to conclude a succession agreement with the current
MLPM Company and PM Company as well as the new MLPM Company and the new PM Company (as aresult of the succession, there are no changes to the main contents of the lease agreements or the service
agreements that have been concluded with the current MLPM Company and the current PM Company).
Property name
Canal City Hakata
Canal City Hakata・B
Canal City Business Center Building
Marinoa City Fukuoka(Marina Side Building)
SunLive City Kokura
Square Mall Kagoshima Usuki
Kumamoto Intercommunity SC
Hanahata SC
Kurume Higashi Kushiwara SC
K’s Denki Kagoshima

Current MLPM and PM

New MLPM and PM

Fukuoka Jisho Co., Ltd

FJ. Entertainment Works Ltd.

2. Reason for the change
Fukuoka Jisho Co., Ltd., the main sponsor of FRC’s asset management company, Fukuoka Realty Co., Ltd,and its group company, FJ. Entertainment Works Ltd., will conduct organizational restructuring to further
improve management efficiency and business value. As part of restructuring, the commercial business
functions will be consolidated into FJ. Entertainment Works Ltd. through an absorption-type split whereby- 1 -Fukuoka Jisho Co., Ltd. will be the absorbed company and FJ. Entertainment Works Ltd. will be thesuccessor company. In accordance with this, the MLPM Company and the PM Company of the properties
managed by FRC will change.
3. Overview of MLPM Company and PM Company after the Change
1

Property name

FJ. Entertainment Works Ltd.

2

Address

2-2 Tsunaba-machi, Hakata Ward, Fukuoka City

3

Name and title ofrepresentative

4

Business description

Yasunori Koga, Chief Executive Officer(scheduled to take office on June 1, 2020)
・Operation and management of commercial facilities and public
facilities, etc.
・Various event planning, drafting, production, execution, andimplementation and operation and management
・Advertising and planning, production, implementation, andconsultation for corporate sales and promotional activities

5

Paid-in Capital

20 million yen

6

Establishment

July 5, 2002

7
8

Major shareholders andFukuoka Jisho Co., Ltd. 100%
shareholding ratios
Relationship between FJ. Entertainment Works Ltd., the asset management company, and FRC
Fukuoka Realty Co., Ltd., a shareholder of FRC’s asset
Capital relationshipmanagement company, with equity of 50%, is the shareholder of
Fukuoka Jisho Co., Ltd. with equity of 100%.
Personnel relationship
None in particular.
FJ. Entertainment Works Ltd. engages in transactions as property
management services with FRC and the asset managementcompany. There is no relationship to note between the affiliates or
Business relationshipaffiliated companies of FJ. Entertainment Works Ltd. and theaffiliates or affiliated companies of FRC and the asset managementcompany.
FJ. Entertainment Works Ltd. falls within the scope of relatedparties of FRC. In addition, FJ. Entertainment Works Ltd. falls
within the scope of Interested Persons, etc. as designated in the
Related-party status
Order for Enforcement of the Act on Investment Trusts andInvestment Corporations, and is also an interested party as definedby the internal rules of the asset management company.

4. Others
The impact of the change on performance results is minimal, and there are no changes to the forecasts ofperformance for the fiscal year ending August 2020 (March 1 to August 31, 2020) and the fiscal year ending
February 2021 (September 1, 2020 to February 28, 2021) announced in the “Earnings Briefing for the Period
Ended February 2020” dated April 13.
*Fukuoka REIT Corporation’s website is https://www.fukuoka-reit.jp/eng/- 2 -