Nippon Accommodations Fund Inc.
2022 Environmental Performance
１．Energy consumption（1000ｋWh）

12,000

10,544 10,387

✔

9,895

9,580

9,406

2017

2018

2019

9,001

9,060

9,129

2020

2021

2022

8,000

4,00002015

2016（Note) Please refer to P.3 for the calculation methodology.

（For reference）Electricity consumption（1000ｋWh）

12,000
9,800

9,650

9,111

8,839

8,659

8,434

8,410

8,440

2017

2018

2019

2020

2021

2022

8,000

4,00002015

2016（Note) The electricity consumption consists of purchased electricity only.

1２．CO2 emissions from energy consumption（t-CO2）

5,038

5,000

4,958

4,509

4,183

✔
3,355

3,297

3,542

2,646

2,50002015

2016

2017

2018

2019

2020

2021

2022

（Note) Please refer to P.3 for the calculation methodology.

３．Water usage（㎥）

30,00024,273 23,836 23,811 24,055

22,811

20,000✔
19,996 20,078 20,180

10,0000
2015

2016

2017

2018

2019

2020

（Note) The water usage consists of purchased water only.

22021

2022

【Notes on calculation methodology】（1）

Calculation period: January 1st – December 31st each year

（2）

Scope: Annual consumption from common-use space in “rental properties” of ourmanaging properties.
Consumption for co-owned properties is calculated by multiplying Nippon
Accommodations Fund Inc.ʼs ownership ratio.

（3）

Formulas:① Energy consumption (Thousand kWh):・ Energy consumption ＝ Σ （ consumption by energy type ×heating value

conversion factor × conversion rate for electricity）
Calculated based on heating value conversion factor in “Manual for Calculation andReporting of Green House Gas Emissions”（Ministry of Environment; Ministry ofEconomy, Trade and Industry）
・Energy type︓Electricity and city gas among other things② CO2 emissions from energy consumption (t-CO2):
CO2 emissions from energy consumption＝Σ（Energy consumption × CO2 emission
factor）
Calculated based on “Manual for Calculation and Reporting of Green House GasEmissions”（Ministry of Environment; Ministry of Economy, Trade and Industry）
Used the emission factor based on the electricity menu with the contract ofelectricity.
Used the adjusted emission factors given by each electricity supplier for others.

(Note)There is partial amendment in the figures of each consumption amount and CO2 emissions
from “2021 Environmental Performance”.

Issue date: 2023/6/16

3（TRANSLATION）

Independent Practitioner’s Assurance Report
June 16, 2023
Mr. Takashi Ikeda,
Executive Director,
Nippon Accommodations Fund Inc.
Tomoharu Hase
Representative Director
Deloitte Tohmatsu Sustainability Co., Ltd.
3-2-3, Marunouchi, Chiyoda-ku, Tokyo
We have undertaken a limited assurance engagement of the environmental performance information indicated with .
for the year ended December 31, 2022 (the “Quantitative Environmental Information”) included in the “Nippon
Accommodations Fund Inc. 2022 Environmental Performance” (the “Report”) of Nippon Accommodations Fund Inc.
(the “Company”).
The Company’s Responsibility
The Company is responsible for the preparation of the Quantitative Environmental Information in accordance withthe calculation and reporting standard adopted by the Company (indicated with the Quantitative EnvironmentalInformation included in the Report). CO2 quantification is subject to inherent uncertainty for reasons such asincomplete scientific knowledge used to determine emissions factors and numerical data.
Our Independence and Quality Control
We have complied with the independence and other ethical requirements of the Code of Ethics for Professional
Accountants issued by the International Ethics Standards Board for Accountants, which is founded on fundamental
principles of integrity, objectivity, professional competence and due care, confidentiality and professional behavior.
We apply International Standard on Quality Control 1, Quality Control for Firms that Perform Audits and Reviews ofFinancial Statements, and Other Assurance and Related Services Engagements, and accordingly maintain acomprehensive system of quality control including documented policies and procedures regarding compliance withethical requirements, professional standards and applicable legal and regulatory requirements.
Our Responsibility
Our responsibility is to express a limited assurance conclusion on the Quantitative Environmental Information basedon the procedures we have performed and the evidence we have obtained. We conducted our limited assurance
engagement in accordance with the International Standard on Assurance Engagements (“ISAE”) 3000, Assurance
Engagements Other than Audits or Reviews of Historical Financial Information, issued by the International Auditing
and Assurance Standards Board (“IAASB”), ISAE 3410, Assurance Engagements on Greenhouse Gas Statements,
issued by the IAASB and the Practical Guideline for the Assurance of Sustainability Information, issued by theJapanese Association of Assurance Organizations for Sustainability Information.
The procedures we performed were based on our professional judgment and included inquiries, observation ofprocesses performed, inspection of documents, analytical procedures, evaluating the appropriateness of quantification
methods and reporting policies, and agreeing or reconciling with underlying records. These procedures also included
the following:
・ Evaluating whether the Company’s methods for estimates are appropriate and had been consistently applied.
However, our procedures did not include testing the data on which the estimates are based or reperforming theestimates.
・ Performing interviews of responsible persons and inspecting documentary evidence to assess the completenessof the data, data collection methods, source data and relevant assumptions applicable to the sites.
The procedures performed in a limited assurance engagement vary in nature and timing from, and are less in extent
than for, a reasonable assurance engagement. Consequently, the level of assurance obtained in a limited assurance
engagement is substantially lower than the assurance that would have been obtained had we performed a reasonableassurance engagement.
Limited Assurance Conclusion
Based on the procedures we have performed and the evidence we have obtained, nothing has come to our attention
that causes us to believe that the Quantitative Environmental Information is not prepared, in all material respects, inaccordance with the calculation and reporting standard adopted by the Company.
The above represents a translation, for convenience only, of the original Independent Practitioner’s Assurance report issued in
the Japanese language.
Member of
Deloitte Touche Tohmatsu Limited