NEWS RELEASE
June 13, 2023
For Immediate Release

Investment Corporation
Japan Real Estate Investment Corporation
Jo Kato, Executive Director(TSE code: 8952)
Asset Management Company
Japan Real Estate Asset Management Co., Ltd.
Shojiro Kojima , President & CEO
Contact: Masaru Motooka
Executive Officer & General Manager
Strategic Planning Department
Phone: +81‐3‐3211‐7951

Announcement of Debt Financing
Japan Real Estate Investment Corporation hereby announces its decision today to procure funds asfollows:

1. Reason for the borrowing
To repay the existing long‐term loans of JPY 3 billion and JPY 2.5 billion, and part of the existing
short‐term loan of JPY 3 billion, which were executed on June 15, 2015, June 15, 2017, and May 29,2023, respectively
2. Overview of the borrowings(1) Amount of loan
JPY 4,500 million (Note1)
JPY 3,000 million(2) Lender
The Bank of Fukuoka, Ltd.
The Chugoku Bank, Ltd.
Base rate (3‐month JPY TIBOR
published by Japanese Bankers
0.68125% (fixed)(3) Interest rate
Association (hereinafter “JBA”)) +0.100% (Note2)(4) Borrowing dateJune 15, 2023
Loan agreement dated June 13, 2023
(5) Method of borrowing
Unsecured/unguaranteed loan
The principal repayment date andThe principal repayment date andthe 15th of every March, June,
Interest payment datethe 15th of every June and(6)September, and December in the(Note3)
December in the period until theperiod until the principal
principal repayment date
repayment date
Method of principal(7)
Lump‐sum repayment on the principal repayment daterepayment

(8)Principal
date

repayment

June 15, 2033

(Note1)・ The use of the loan is as follows: JPY 2.5 billion out of JPY 4.5 billion goes to repayment of the JPY 2.5
billion long‐term loan from the Bank of Fukuoka, Ltd., which is due on June 15, 2023. The remaining
JPY 2 billion will be applied to partially repay the JPY 3 billion short‐term loan with the maturity dateof June 29, 2023, from MUFG Bank, Ltd. and will be deposited with financial institutions until thetime of expenditure.
(Note2)・ The base rate to calculate the interest to be paid on interest payment dates is JBA 3‐month JPY TIBOR
as of two business days before the borrowing date for the first interest payment date and as of twobusiness days before the most recent interest payment date for the subsequent interest payment
dates. (JBA 3‐month JPY TIBOR as of June 13, 2023 is 0.07455%.)･ For the JBA Japanese Yen TIBOR, please refer to JBA TIBOR administration’s website(https://www.jbatibor.or.jp/english/rate/).
(Note3) When an interest payment date is not a business day, the interest shall be paid on the following
business day or the immediately preceding business day if the following business day is in thefollowing month.

<Reference> Overview of Existing Loans Subject to Repayment
LenderAmount of loan
Borrowing datePrincipal
repayment date

Disclosure date

The Chugoku
Bank, Ltd.

JPY 3,000 million

June 15, 2015

June 15, 2023

June 10, 2015

The Bank ofFukuoka, Ltd.

JPY 2,500 million

June 15, 2017

June 15, 2023

June 13, 2017

MUFG Bank, Ltd.

JPY 3,000 million

May 29, 2023

June 29, 2023

May 25, 2023

3. Balance of interest‐bearing debt after the debt financing(Units: millions of JPY)

BeforeShort‐term loans payable
Long‐term loans payable(Variable interest rate)
Long‐term loans payable(Fixed interest rate)
Total loansInvestment corporation bonds
Total
investment corporation bonds
Total interest‐bearing debt

After

Increase/Decrease

34,50032,500‐2,00010,00014,500+4,500345,200

342,700‐2,500389,700

389,700±042,993

42,993±042,993

42,993±0432,693432,693±0(Note) The balance takes into account the repaying JPY 2 billion out of the JPY 3 billion short‐term loan from MUFG
Bank, Ltd., which is due on June 29, 2023.

4. Others
Regarding risks pertaining to these loan repayments, there is no material change to thedescriptions of “Investment risks” in the securities registration statement submitted on March 28,2023.
This is the English translation of the announcement in Japanese dated June 13, 2023.
No assurance or warranties are given for the completeness or accuracy of this English translation.