September 24, 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.
Representative:
Makoto Muranaka,
Representative Director andPresident
Mayumi Kobiki,
Contact:
Chief Financial Officer
Tel:+81-3-6272-6608

Notice Concerning Filing of an Action for Rescission of a Resolution of Unitholders’ Meeting
and a Petition for Order of Injunction by Unitholder
Sakura Sogo REIT (hereinafter “SAKURA”) announces that an action has been filed against SAKURA seeking
rescission of a resolution of unitholders’ meeting (hereinafter the “Action”), and that SAKURA and its ExecutiveDirector, Toru Sugihara, have received notice of a petition for an order of injunction to suspend performance of duties
and to appoint an acting representative (hereinafter the “Petition”). Executive Director Toru Sugihara received such
notice on September 21, 2019, and Sakura Sogo REIT Investment Corporation received such notice today. The details
are as follows.
1.

Court with which, and date on which, the Action and the Petition were filed(1) Court with which the Action and the Petition were filed:Tokyo District Court(2) Date on which the Action and the Petition were filed:
September 12, 20192.

Unitholder which filed the Action and the Petition(1) Name:
GALAXY JREIT PTY LIMITED(2) Address:
Level 4, 15 Lime Street, Sydney, New South Wales, Australia(3) Title and name of representative:
Neil R.J. Werrett, Representative Member

3.

Reason for the Action and the Petition, background of filing, and details of claim
Lion Partners Godo Kaisha, which is a minority unitholder of SAKURA, held an extraordinary unitholders’meeting of SAKURA (hereinafter the “Meeting”) at 10 a.m. on August 30, 2019 as authorized by the decision toallow convocation of unitholders’ meeting issued by the Director-General of the Kanto Local Finance Bureau, andProposals 2 through 4 were approved and adopted as originally proposed by the Meeting (Proposal 1 was notdeliberated or resolved). With respect to the Meeting, GALAXY JREIT PTY LIMITED, which is a unitholder ofSAKURA (hereinafter the “Filing Unitholder”), asserted that they considered the convocation procedures andresolution procedures for the unitholders’ meeting to be in violation of law or grossly unfair, and filed the Action
seeking to rescind the approved and adopted resolutions on Proposals 2 through 4. At the same time, on the basisof seeking to preserve its right to make the claim in the Action, the Filing Unitholder filed the Petition seeking tosuspend performance of duties by Executive Director Toru Sugihara, whose appointment procedures wereconsidered by the Filing Unitholder to be defective, and to appoint an acting representative. The main reasons
asserted by the Filing Unitholder in the Action are as follows:(1) although the Filing Unitholder and SAKURA had requested that an outline of the summary for proposals
concerning the matters for which the Meeting was to be held be added to the convocation notice, such outlineof summary for proposals was not included in the convocation notice; and(2) upon the exercise of the voting rights on Proposals 2 through 4 submitted to the Meeting, although a majorityof the proxies submitted by Sakura Real Estate Funds Management, Inc. (which is the asset managementcompany of SAKURA) should normally have been treated as valid, such proxies were treated as invalid.

4.

Policy of SAKURA for responding to the Action and the Petition, and future outlook
With respect to the policy of SAKURA for responding to the Action and the Petition, SAKURA will carefully
examine the details of the Action and the Petition.

It is currently difficult for SAKURA to estimate any impact on its financial results.
announcement if there is any matter to be announced.

SAKURA will make a timely

Sakura Sogo REIT Investment Corporation website address: http://sakurasogoreit.com/en/
Reference press release, etc.
Dated 6/28/2019“Announcement Regarding the Determination to Allow Convocation of an Extraordinary
Unitholders’ Meeting”
Dated 7/4/2019“Announcement Regarding the Request by Sponsor to Add Proposal to Convocation Notice forUnitholders’ Meeting”
Dated 8/15/2019“Notice Concerning Execution of Merger Agreement by and between MIRAI Corporation and
Sakura Sogo REIT Investment Corporation (Follow-up)”
Dated 8/22/2019“Notice Concerning Execution of Merger Agreement by and between MIRAI Corporation and
Sakura Sogo REIT Investment Corporation (Follow-up II)”
Dated 8/29/2019“Notice Concerning Injunction to Unitholders’ Meeting convened by Lion Partners”
Dated 8/30/2019“Notice Concerning Resolution of the General Meeting of Unitholders Held by a Minority
Unitholder and Change in Executive Director”