For Translation Purposes Only

July 3, 2019
For Immediate Release

Infrastructure Fund Issuer
Takara Leben Infrastructure Fund, Inc.
Representative:
Masahide Kikuchi,
Management Company
Takara Asset Management Co., Ltd.
Representative:
Mamoru Takahashi,Contact:

Masahide Kikuchi,

Executive Director
Securities Code: 9281

President & CEO
Vice President & Director of
Infrastructure Fund
Division., Investment
Management Department
TEL: +81-3-6262-6402

Notice of Revision to Forecast of Performance for Fiscal Period Ended
May 31, 2019 (7th 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, 2019 (7th fiscal period), which was announced on on “Summaryof Accounts for Fiscal Period Ended November 30, 2018 (Infrastructure Fund)” dated January 15, 2019, has today been revised
as follows.
1. Revision to the forecasts of operating results (from December 1, 2018 to May 31, 2019)
OperatingOperating

Ordinary

revenueincomeincomeNet income

Distribution per unit
(excl. surplus earnings
distribution)

Surplus earnings
distribution perunit

Distribution perunit (incl. surplusearningsdistribution)

Previously
announced

1,468

527

457

456

forecast

million yen

million yen

million yen

million yen

1,517557

484

483

million yen

million yen

million yen

million yen

Change49292727(B-A)

million yen

million yen

million yen

million yen

3.3%

5.7%

5.9%

5.9%

3,297 yen

334 yen

3,631 yen

3,492 yen

334 yen3,826 yen

195 yen0 yen

195 yen

5.9%

-%

5.4%

(A)
Currently
announced
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 extermal 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 gurantee distribution per unit nor Surplus

Note: This press release is intended to publicize Takara Lebel Infrastructure Fund’s revision to forecast of performance for fiscal period ended
May 31, 2019 (7th Fiscal Period) and is not intended to solicit investments.

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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 138,574.

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, 2019 that there would be a deviation of 5% or more from the forecast distribution per unit for the said
period (7th fiscal period) announced on “Summary of Accounts for Fiscal Period Ended November 30, 2018
(Infrastructure Fund)” dated January 15, 2019. It is mainly due to that performance-linked income is projected to be 27
million yen higher than the previous forecast.
As of today, there are no revisions of operation performance and forecast distribution per unit for the fiscal period ending
November 30, 2019 (8th fiscal period) and fiscal period ending May 31, 2020 (9th fiscal period) announced on“Summary of Accounts for Fiscal Period Ended November 30, 2018 (Infrastructure Fund)” dated January 15, 2019.
In addition, the result announcement for the fiscal period ended May 31, 2019 (7th fiscal period) is expected to announce
on July 12, 2019.
End.
TIF Website: http://tif9281.co.jp/en/

Note: This press release is intended to publicize Takara Lebel Infrastructure Fund’s revision to forecast of performance for fiscal period ended
May 31, 2019 (7th Fiscal Period) and is not intended to solicit investments.

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