For Translation Purposes Only

July 1, 2020
For Immediate Release
Infrastructure Fund Issuer
Takara Leben Infrastructure Fund, Inc.
Representative:
KIKUCHI Masahide

Executive Director
Securities Code: 9281

Management Company
Takara Asset Management Co., Ltd.
Representative:
TAKAHASHI Mamoru
Contact:
KIKUCHI Masahide

President & CEO
Vice President
TEL: +81-3-6262-6402

Notice of Revision to Forecast of Performance for Fiscal Period Ended
May 31, 2020 (9th Fiscal Period)
Takara Leben Infrastructure Fund, Inc. (hereinafter referred to as “Investment Corporation”) hereby announces that theforecast of performance for the fiscal period ended May 31, 2020 (9th fiscal period), which was announced on “Summary ofAccounts for Fiscal Period Ended November 30, 2019 (Infrastructure Fund)” dated January 15, 2020, has today been revised
as follows.
1. Revision to the forecasts of operating results (from December 1, 2019 to May 31, 2020)
OperatingOperating

Ordinary

revenueincomeincomeNet income

Distribution per unit
(excl. surplus earningsdistribution)

Surplus earnings
distribution perunit

Distribution perunit (incl. surplus
earningsdistribution)

Previously
announced

2,229790

662661forecast

million yen

million yen

million yen

million yen

3,412 yen

286 yen3,698 yen

3,584 yen

286 yen

3,870 yen

172 yen0 yen

172 yen

5.0%

-%

4.7%

(A)
Revised

2,253

822

695

694

million yen

million yen

million yen

million yen

Change24

32

33

33(B-A)million yen

million yen

million yen

million yen

1.1%

4.1%

5.1%

5.1%

forecast (B)% Change(Note 1) The forecast performance figures described above are calculated as of the time of this release and may differ depending factors, such as futurechanges in circumstances, accounting audit by external auditor, etc. In the event that a predetermined or higher level of deviation from the forecast
mentioned above is anticipated, the forecast may be revised. This revision to forecasts does not aim to guarantee distribution per unit nor Surplus
earnings per unit.
(Note 2) The figures shown above disregard any fraction portion that is less than their respective units, and the ratios shown above are rounded to thenearest first decimal place.
(Note 3) The number of outstanding investment units at the end of the fiscal period is assumed at 193,830.

2. Reasons of the revision to the forecast
This revision has been made given that it was anticipated in the process of calculating the results for the fiscal period
ended May 31, 2020 that there would be a deviation of 5% or more from the forecast distribution per unit for the saidperiod (9th fiscal period) announced on “Summary of Accounts for Fiscal Period Ended November 30, 2019
(Infrastructure Fund)” dated January 15, 2020. It is forecasted that Net income for the said period will exceed 33 million
yen than the previously forecasted due to increased performance-linked incomes and improved operating expenses.
As of today, there are no revisions of operation performance and forecast distribution per unit for the fiscal period ending
November 30, 2020 (10th fiscal period) and the fiscal period ending May 31, 2021 (11th fiscal period) announced on“Summary of Accounts for Fiscal Period Ended November 30, 2019 (Infrastructure Fund)” dated January 15, 2020.
In addition, the result announcement for the fiscal period ended May 31, 2020 (9th fiscal period) is expected to announce
on July 15, 2020.
End.

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