[For Translation Purposes Only]
March 1, 2019

For Immediate Release
To Whom It May Concern
Nomura Real Estate Master Fund, Inc.
Securities Code: 3462
Shuhei Yoshida, Executive Director
Asset Management Company:
Nomura Real Estate Asset Management Co., Ltd.
Norio Ambe, President & Chief Executive Officer
Inquiries:
Ken Okada
Director and Managing Executive Officer
TEL. +81-3-3365-8767 nmf3462@nomura-re.co.jp

Notice Concerning Changes in Directors andImportant Employees in Asset Management Company
Nomura Real Estate Master Fund, Inc. (“Nomura Master Fund” or the “Fund”) announced theresolution of Nomura Real Estate Asset Management Co., Ltd. (“NREAM”), a licensed
investment trust management company retained by the Fund to provide asset management
services, at NREAM’s Board of Directors Meeting held today, regarding the appointment of a
new director, which will be proposed at the Extraordinary Meeting of Shareholders as of April 1,
2019, and also regarding the changes of directors and important employees.
The above changes of directors and important employees will be effective as of April 1, 2019.
1. Changes in Director
At the Board of Directors Meeting held today, NREAM has determined to propose anagendum regarding the appointment of one director mentioned below at the Extraordinary
Meeting of Shareholders as of April 1, 2019.
(1) Scheduled to assume office (as of April 1, 2019)
Name
Title (New)
Representative Director, Vice
President and Executive Officer
in charge of the ProductDevelopment Department,
Research & Analysis Department,
Investment Management Planning
Hiroyuki Kimura
Department, NMF Investment
Management Group, NPR
Investment Management
Department, and Chief Strategy
Officer1

Title (Former)(New appointment)

(2) Scheduled to resign (as of March 31, 2019)
Name
Title (New)Masato Yamauchi(Resignation)(3) Other changes (as of April 1, 2019)
NameTitle (New)Fumiki Kondo

Representative Director andSenior Managing Executive
Officerin charge of the Corporate
Planning Department,International Business Planning
Department, Finance &Accounting Department andInvestment Management
Department

Daisuke KimuraManaging Executive Officer
in charge of the international
affairs

Noriaki Ido

Director andManaging Executive Officer
in charge of the Acquisitions
Department, and Head of Client
Relations & Marketing
Department

Title (Former)
Representative Director andSenior Management Executive
Officer,Supervisor of the ProductDevelopment Department, NMF
Investment Management Group,
NPR Investment ManagementDepartment,in charge of the Research &Analysis Department,
Acquisitions Department andInvestment Management Planning
Department, and Chief Strategy
OfficerTitle (Former)
Representative Director andSenior Managing Executive
OfficerSupervisor of the International
Business Planning Section,
Client Relations & Marketing
Department and the Investment
Management Department
in charge of the Corporate
Planning Department and theFinance & Accounting
Department

Director and Managing Executive
Officer in charge of theInternational Business Planning
Section and Investment
Management Department
Director andManaging Executive Officer
in charge of the Client Relations& Marketing Department,
Product Development
Department and NPR Investment
Management Department

2. Changes in Important Employees
At the Board of Directors Meeting held today, NREAM has determined the changes in theimportant employees mentioned below.

2(1) Scheduled to assume office (as of April 1, 2019)
Name
Title (New)
Executive Officer
Shunsaku Nishidain charge of International
Business Planning Department(2) Scheduled to resign (as of March 31, 2019)
Name
Title (New)
Katsuyuki Masui(Resignation)

Title (Former)(New appointment)

Title (Former)
Executive Officer
in charge of International
Business Planning Department

The Fund will report these changes to competent authorities pursuant to the Financial
Instruments and Exchange Act, the Building Lots and Buildings Transaction Business Act andother applied laws and regulations.
*<Nomura Real Estate Master Fund, Inc.> URL: https://www.nre-mf.co.jp/en/3