January 24, 2017
For Immediate Release
Real Estate Investment Trust Securities Issuer
Star Asia Investment Corporation
Representative: Atsushi Kato, Executive Officer(Code: 3468)
Asset Management Company
Star Asia Investment Management Co., Ltd.
Representative: Atsushi Kato
President and CEO
Contact: Toru Sugihara
Director and CFO
TEL: 03­5425­1340

Notice Concerning Change of Property Management Company of Owned Properties
Star Asia Investment Corporation (SAR) announces today it has decided on a change in property managementcompany (PM Company), as follows.
1. Details of Change
The PM Companies of the below trust assets (the Properties) whose real estate trust beneficiary interests areowned and managed by SAR will be changed as follows (the Change).
Property
Property name
Before change
After change Commencement dateNo.
of entrustment
LGC­01
Iwatsuki Logistics
UIG Asset Management Co., Ltd. CRE, Inc.
January 31, 2017
LGC­02
Yokohama Logistics UIG Asset Management Co., Ltd. CRE, Inc.
February 1, 2017
LGC­03
Funabashi Logistics UIG Asset Management Co., Ltd. CRE, Inc.
February 1, 2017
2. Reasons for Change
SAR entrusted property management of the Properties to UIG Asset Management Co., Ltd. (Current PMCompany) but decided to change the PM Company to CRE, Inc. (New PM Company) due to the expiration of theproperty management agreement with the Current PM Company.
The reasons for selecting the New PM Company after consideration of multiple candidate companies are as follows(1) The New PM Company has an abundant track record of entrustment in the property management businessof logistics facilities as a real estate company specialized in logistics facilities, etc. and has businessexecution capacity in line with the characteristics of the Properties.
(2)There will be no changes in the level of remuneration of entrusted businesses before and after the change ofPM Company.

13. Details of Contractor
NameLocation
RepresentativeCRE, Inc.
2­10­1 Toranomon, Minato­ku, Tokyo
Shuhei Yamashita, President

Main business description

Leasing, management, development, brokerage and investment
advisory of logistics facilities
Capital1,600,628,000 yen (as of October 31, 2016)
Relationship with investment corporation or asset management company
Capital relationship
There is no capital relationship to report.
Personnel relationship

There is no personal relationship to report.

Business relationship

There is no business relationship to report.

Related party or noThe company does not fall under the category of related party ofSAR/the Asset Management Company.

4. Future Outlook
There are no revisions to the operating results forecasts as the impact of the Change on SAR’s operating results
forecasts for the fiscal period ending July 31, 2017 (February 1, 2017 ­ July 31, 2017) announced on December 5,2016 is minimal.
* This material is distributed to the press club of the Tokyo Stock Exchange (Kabuto Club), the press club of theMinistry of Land, Infrastructure, Transport and Tourism, and the press club for construction trade
publications of the Ministry of Land, Infrastructure, Transport and Tourism.
* Star Asia Investment Corporation website address: http://starasia­reit.com/en/2