NEWS RELEASE
June 27, 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 Loan Prepayment and Debt Financing
Japan Real Estate Investment Corporation hereby announces its decision today to repay an existing
short‐term loan before the due date and procure funds as follows:
1. Prepayment of Short‐Term Loan(I) Prepayment date:June 29, 2023
(II) Overview of loan to be repaid before the due date:(1)
Amount of loan
JPY 3,000 million(2)
LenderMizuho Bank, Ltd.
(3)Interest rate
0.0845% (from May 29, 2023 through June 28, 2023)(4)
Borrowing date
May 29, 2023
(5)
Method of borrowing
Loan based on overdraft agreement
Unsecured/unguaranteed loan
(6)Interest payment date
The principal repayment date and the 29th of every monthin the period until the principal repayment date
(7)
Method of principal repayment Lump‐sum repayment on the principal repayment date(8)
Principal repayment date
May 29, 2024
(9)Disclosure date
May 25, 2023
*There will be no early repayment fee due to this loan prepayment.

2. Debt Financing(I) Reason for the borrowing① To repay before the due date the above short‐term loan of JPY 3 billion② To repay part of the existing short‐term loan of JPY 3 billion executed on May 29, 2023

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(II) Overview of the borrowing«Long‐term loan related to ①»(1) Amount of loan
(2) Lender(3) Interest rate
(4)
(5)

Borrowing date
Method of borrowing(6)

Interest payment date (Note2)

(7)
(8)

Method of principal repayment
Principal repayment date

JPY 3,000 million
Mizuho Bank, Ltd.
Base rate (3‐month JPY TIBOR published by Japanese Bankers
Association (hereinafter “JBA”)) + 0.085% (Note1)
June 29, 2023
Loan agreement dated June 27, 2023
Unsecured/unguaranteed loan
The principal repayment date and the 29th of every March,June, September, and December in the period until theprincipal repayment dateLump‐sum repayment on the principal repayment dateJune 29, 2033

(Note1)・ 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 27, 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/).
(Note2) 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 the following month.

(1)
(2)
(3)
(4)
(5)

«Long‐term loan related to ②»
Amount of loanLenderInterest rate
Borrowing date
Method of borrowing(6)

Interest payment date (Note3)

(7)
(8)

Method of principal repayment
Principal repayment date

JPY 1,000 million
The Keiyo Bank, Ltd.
0.39875% (Fixed)
June 29, 2023
Loan agreement dated June 27, 2023
Unsecured/unguaranteed loan
The principal repayment date and the 29th of every June andDecember in the period until the principal repayment dateLump‐sum repayment on the principal repayment dateJune 28, 2030

(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 Loan Subject to Repayment
LenderAmount of loan
Borrowing date
MUFG Bank, Ltd.

JPY 3,000 million(Note4)

May 29, 2023

Principalrepayment date

Disclosure dateJune 29, 2023

May 25, 2023

(Note4) Out of the above loan amount of JPY 3 billion, JPY 2 billion will be repaid with the unused portion of theJPY 4.5 billion long‐term loan from the Bank of Fukuoka, Ltd. executed on June 15, 2023, which has
now been deposited with a financial institution. For details of the said long‐term loan, please refer tothe press release titled “Announcement of Debt Financing” dated June 13, 2023.

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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 loans
Investment corporation bonds
Total
investment corporation bonds
Total interest‐bearing debt

After

Increase/Decrease

32,50028,500‐4,00014,50017,500+3,000342,700

343,700+1,000389,700

389,700±042,993

42,993±042,993

42,993±0432,693

432,693±0(Note5) The balance stated in the “Before” column shows the one in the “After” column of the said table stated inthe press release titled “Announcement of Debt Financing” dated June 13, 2023, which takes into accountthe repaying JPY 2 billion with cash on hand out of the JPY 3 billion short‐term loan from MUFG Bank, Ltd.
subject to this repayment.

4. Others
Regarding risks pertaining to these loan repayments, there is no material change to thedescriptions of “Investment risks” in the latest securities report submitted on June 26, 2023.

This is the English translation of the announcement in Japanese dated June 27, 2023.
No assurance or warranties are given for the completeness or accuracy of this English translation.

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