[For Translation Purposes Only]

March 1, 2024

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:
Hiroyuki Masuko
Executive Officer
Head of NMF Investment Management Group
TEL. +81-3-3365-8767 nmf3462@nomura-re.co.jp

Notice Concerning Changes in Organization and Changes in Directors andImportant Employees in Asset Management Company
Nomura Real Estate Master Fund, Inc. (“Nomura Master Fund” or the “Fund”) announced the resolution of Nomura
Real Estate Asset Management Co., Ltd. (“NREAM”), a licensed investment trust management company retained by theFund to provide asset management services, at NREAM’s Board of Directors Meeting held today, regarding the changes
in organization and changes in directors and important employees as described below.
The above changes in organization, and changes in directors and important employees will be effective as of April
1, 2024.
1.

Changes in Organization
NREAM will abolish Client Relations & Marketing Department and International Business Planning Department,and establish Overseas Business Department for the purpose to enhance efficiency of the organization managementin NREAM and also abolish Chief Strategy Officer.
Please refer to the Attachment for the organization charts before and after the changes.

2.

Changes in Directors
At the Board of Directors Meeting held today, NREAM has determined the change in directors and management
member mentioned below.

(1) Directors scheduled to resign (as of March 31, 2024)
Name
Koki Miura

Masayuki Hagiwara

Title (New)

Title (Former)(Resignation)

Representative Director, President andChief Executive Officer(Resignation)

Managing Executive Officer in charge ofLegal & Compliance Department,Internal Audit Department and Finance& Accounting Department－ 1 －(2) Other changes (as of April 1, 2024)
Name

Title (New)

Title (Former)

Masaomi Katayama

Representative Director, President andChief Executive Officer

Representative Director and Senior
Managing Executive Officer,
Chief Strategy Officer supervising
Acquisitions Department and in chargeof Investment Management Planning
Department, Research and Management
Office, Private Fund Management
Department and NMF Investment
Management Group and NPR
Investment Management Department

Fumiki Kondo

Representative Director and Senior
Managing Executive Officer, Chief ofClient Relations & Marketingsupervising Overseas Business
Department andin charge of Research andManagement Office

Representative Director and Senior
Managing Executive Officer supervisingInternational Business Planning
Department and in charge of Client
Relations & Marketing Department

Daisuke Kimura

Hiroshi Ishigooka

3.

Director and Senior Managing
Executive Officer in charge of Finance& Accounting Department,
Acquisitions Department andInvestment Management Planning
Department
Director and Managing Executive
Officer in charge of Legal &Compliance Department and Internal
Audit Department
General Manager of Corporate
Planning Department

Director and Senior Managing
Executive Officer in charge ofInternational Business Planning
Department and Acquisitions
Department
Director and Managing ExecutiveOfficer
General Manager of Corporate
Planning Department

Changes in Important Employees
At the Board of Directors Meeting held today, NREAM has determined the changes in the important employees
mentioned below.
(1) Scheduled to resign (as of March 31, 2024)
Name

Title (New)

Title (Former)

Shunsaku Nishida(Resignation)

Executive Officer,
General Manager of International
Business Planning Department－ 2 －(2) Other changes (as of April 1, 2024)
Name

Title (New)

Title (Former)

Hiroyuki Masuko

Executive Officer, Head of NMF
Investment Management Group,
General Manager of FundManagement Department of NMF
Investment Management Group

Executive Officer, Head of NMF
Investment Management Group,
General Manager of Asset Management
II Department of NMF Investment
Management Group

Toshio Nakamura

Executive Officer, General Managerof Asset Management II Department
of NMF Investment ManagementGroup

Executive Officer, General Manager ofFund Management Department ofNMF Investment Management Group

Yoshiro Arima

Executive Officer,
General Manager of Overseas
Business Department

Executive Officer,
General Manager of Client Relations &Marketing Department

Tomoyuki Harata

Executive Officer,
General Manager of Private FundManagement Department

General Manager of Private FundManagement Department

NREAM will report these changes to competent authorities pursuant to the Financial Instruments and Exchange Act,
the Building Lots and Buildings Transaction Business Act and other applicable laws and regulations.
*<Nomura Real Estate Master Fund, Inc.> URL : https://www.nre-mf.co.jp/en/－ 3 －Corporate Planning

Statutory Auditors

Chair
President & CEO

Board of Directors

General Meeting of Shareholders

Reference) Organization chart before change (current structure) and after change[Before change (current structure)]International Business Planning
Legal & ComplianceInternal Audit
Finance & Accounting
Client Relations & Marketing
Acquisitions
Investment Management PlanningResearch and Management Office
NMF Investment Management Group

Chief Strategy Officer

Project Screening Committee

NPR Valuation Committee

Risk Management Committee

Compliance Committee

Investment Committee

Private Fund Management

Fund Management
Asset Management I
Asset Management II

NPR Investment Management

Statutory Auditors

Chair
President & CEO

Board of Directors

Corporate Planning
Legal & ComplianceInternal Audit
Finance & Accounting
Acquisitions
Investment Management PlanningResearch and Management Office
Overseas Business

NMF Investment Management Group

Project Screening Committee

NPR Valuation Committee

Risk Management Committee

Compliance Committee

Private Fund Management

Investment Committee

General Meeting of Shareholders[After change]

Fund Management
Asset Management IAsset Management II

NPR Investment Management－ 4 －