[For Translation Purposes Only]
March 5, 2021

For Immediate Release
To Whom It May Concern
Nomura Real Estate Master Fund, Inc.
Securities Code: 3462
Shuhei Yoshida, Executive Director
Asset Management Company:
Nomura Real Estate Asset Management Co., Ltd.
Koki Miura, President & Chief Executive Officer
Inquiries:
Hiroshi Ishigooka
Executive Officer
Head of NMF Investment Management Group
TEL. +81-3-3365-8767 nmf3462@nomura-re.co.jp

Notice Concerning Changes in Directors andImportant Employees in Asset Management Company
Nomura Real Estate Master Fund, Inc. (“Nomura Master Fund” or the “Fund”) announced theresolution of Nomura Real Estate Asset Management Co., Ltd. (“NREAM”), a licensed investment
trust management company retained by the Fund to provide asset management services, at
NREAM’s Board of Directors Meeting held today, regarding the appointment of new directors,
which will be proposed at its Extraordinary Meeting of Shareholders as of April 1, 2021 and also
regarding changes in title of directors and important employees.
The above changes in directors and important employees will be effective as of April 1, 2021.
1. Changes in Director
At the Board of Directors Meeting held today, NREAM has determined to propose agenda
regarding the appointment of two new directors below at its Extraordinary Meeting ofShareholders as of April 1, 2021.
(1) Directors scheduled to assume office (as of April 1, 2021)
Name
Title (New)
Representative Director, Vice
President and Executive Officer
supervising Acquisitions Department
and NMF Investment Groupin charge of Client Relations &Yuko YoshidaMarketing Department, Investment
Management Planning Department,
Private Fund Management
Department and NPR Investment
Management Department, and Chief
Strategy Officer
Director and Managing ExecutiveOfficerHiroshi Ishigooka
Head of NMF Investment
Management Group1

Title (Former)(New appointment)

Executive Officer
Head of NMF Investment
Management Group(2) Directors scheduled to resign (as of March 31, 2021)
Name
Title (New)Norio Ambe(Resignation)

Hiroyuki Kimura(Resignation)

Yasuhiko Furuse(Resignation)

Noriaki Ido(Resignation)

Title (Former)
Representative Director, Chairman
Representative Director, Vice
President and Executive Executive
Officerin charge of Private FundManagement Department, NMF
Investment Management Groupand NPR Investment Management
Department, and Chief StrategyOfficerDirector, Managing ExecutiveOfficerin charge of Corporate Planning
Department and ComplianceDepartment, General Manager ofAudit Department
Director andManaging Executive Officer
in charge of Acquisitions
Department and Client Relations &Marketing Department(3) Other changes (as of April 1, 2021)
Name
Title (New)
Title (Former)
Representative Director and Senior Representative Director and Senior
Managing Executive Officer
Managing Executive Officer
supervising Corporate International
in charge of the Corporate
Business Planning Department andInternational Business Planning
Fumiki Kondo
in charge of Corporate Planning
Department, Finance &Department, Compliance
Accounting Department andDepartment, Audit Department and Investment Management Planning
Finance & Accounting Department
Department
Managing Executive Officer
in charge of the Corporate
Executive Managing Officer
Daisuke KimuraInternational Business Planningin charge of International Affairs
Department and General Manager ofAcquisitions Department
2. Changes in Important Employees
At the Board of Directors Meeting held today, NREAM has determined the changes in theimportant employees mentioned below.
(1) Scheduled to assume office (as of April 1, 2021)
Name
Title (New)
Title (Former)
Executive Officer,Takahiro Imoto
General Manager of Acquisitions(New appointment)
Department2(2) Other changes (as of April 1, 2021)
NameTitle (New)Tetsuya Ohira

Toshio Nakamura

Hiroyuki Masuko

Executive Officer,
General Manager of Audit
Department
Executive Officer,
General Manager of FundManagement Department of NMF
Investment Management Group,
Executive Officer,
General Manager of AssetManagement II Department of NMF
Investment Management Group

Title (Former)
Executive Officer,
General Manager of AssetManagement II Department ofNMF Investment ManagementGroup
Executive Officer,
General Manager of Acquisitions
Department
Executive Officer,
General Manager of FundManagement Department of NMF
Investment Management Group

NREAM will report these changes to competent authorities pursuant to the Financial
Instruments and Exchange Act, the Building Lots and Buildings Transaction Business Act andother applied laws and regulations.
*<Nomura Real Estate Master Fund, Inc.> URL: http://www.nre-mf.co.jp/english/

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