September 5, 2019
For Translation Purpose Only
To All Concerned Parties

REIT Securities Issuer
Sakura Sogo REIT Investment Corporation
Representative:
Toru Sugihara, Executive
Director:(Securities Code 3473)
Asset Management Company:
Sakura Real Estate Funds Management, Inc.
Makoto Muranaka,
Representative:
Representative Director andPresident
Mayumi Kobiki,
Contact:
Chief Financial Officer
Tel:+81-3-6272-6608

Announcement Concerning Notice of Termination of Asset Management Agreement
Sakura Sogo REIT (hereinafter “SAKURA”) announces that as of August 30, 2019 it notified Sakura Real Estate Funds
Management, Inc., an asset management company to which SAKURA entrusts the management of its assets, thatSAKURA has terminated its asset management agreement with said company. The details are as follows.
1.

Summary of Counterparty of Asset Management Agreement to be Terminated
Name:
Sakura Real Estate Funds Management, Inc.
Address:
3-8-11 Kudan Minami, Chiyoda-ku, Tokyo
Representative: Makoto Muranaka, Representative Director and President

2Termination Date of Asset Management Agreement
February 29, 2020 (scheduled)

3.

Background of Termination of Asset Management Agreement
On August 30, 2019, the termination of the asset management agreement with Sakura Real Estate Funds
Management, Inc. and execution of an asset management agreement with Star Asia Investment Management Co.,
Ltd. were approved at the General Meeting of Unitholders of SAKURA held by Lion Partners Godo Kaisha, which
is a minority unitholder of SAKURA. Following such approval, SAKURA notified Sakura Real Estate Funds
Management, Inc. of the termination of the asset management agreement in writing as of August 30, 2019 inaccordance with the provisions of the asset management agreement (note).
(Note)
Under the asset management agreement between SAKURA and Sakura Real Estate Funds
Management, Inc., the termination of the asset management agreement requires not only aresolution of the General Meeting of Unitholders of SAKURA but also not less than six months
prior written notice.

4.

Matters Concerning Succession of Asset Management Agreement(1) Method for Succeeding to Asset Management Agreement
SAKURA plans to consult with Star Asia Investment Management Co., Ltd., and will announce the details
once they are determined.
(2) Summary of Asset Management Company Succeeding to Asset Management Agreement(i)NameStar Asia Investment Management Co., Ltd.
(ii)
Address
Atago Green Hills Mori Tower 18F, 2-5-1, Atago,
Minato-ku, Tokyo(iii)
Title and name of representative
Atsushi Kato, President and CEO(iv)Business details
a. Business concerning management of investment
corporations’ assets, as provided for in Article2(8)(xii)(a) of the Financial Instruments andExchange Act
b. Real property management business, as provided
for in Article 68(xiv) of the Cabinet Office Orderon Financial Instruments Business, etc.
(hereinafter the “Cabinet Office Order”)
c. Business concerning real estate brokerage, as(v)(vi)(vii)(viii)
(ix)

(x)
(xi)

(xii)

5.

provided for in Article 2(ii) of the Building Lots
and Building Transaction Business Act(hereinafter the “Real Estate Brokerage Act”)
d. Business concerning entrustment-based agency
services for transactions, etc., as provided for inArticle 50-2(1)(i) of the Real Estate BrokerageActe. Acceptance of affairs related to the operation ofan organ of an investment corporation, as
provided for in Article 68(xviii) of the Cabinet
Office Orderf. Business as an organizer of an investment
corporationg. Any business incidental or related to the abovematters
JPY 100,000,000
June 22, 2015
JPY 231,263,000

Stated capital
Incorporation date
Total liabilities and net assets for preceding
fiscal year
Major shareholder and shareholding ratio
Star Asia Asset Management, LLC; 100.0%
SAKURA and Sakura Real Estate Funds Management, Inc.’s relationships with Star Asia Investment
Management Co., Ltd.
Capital relationships
Not applicable
Personnel relationships
Not applicable
Business relationships
Not applicable
Whether a “related party”
Not applicable
Status of admission to the Investment Trusts
Admitted into the Investment Trusts Association,Association, Japan
Japan on December 17, 2015
Status of approval provided for in Article 199 Obtained approval for the entrustment-based agencyof the Act on Investment Trusts andservices for transactions, etc. under the Real Estate
Investment Corporations
Brokerage Act on November 10, 2015
(Approval number: approval of the Minister of Land,
Infrastructure, Transport and Tourism No. 95)
Summary of delegated businessa. Business concerning management of SAKURA’sassets
b. Business concerning financing of SAKURA
c. Obligation to report to SAKURA
d. Other business related or incidental to the abovea. through c. that SAKURA delegates from time
to time (including attending the board ofdirectors meetings of SAKURA to make reports)

Outlook
Future responses based on the termination of the asset management agreement and other results of the 3rd General
Meeting of Unitholders held on August 30, 2019 (including handling of the merger agreement with MIRAICorporation), and impacts on business performance for the fiscal year ending in December 2019 are underconsideration as of today and will be announced when determined.

Sakura Sogo REIT Investment Corporation website address: http://sakurasogoreit.com/en/