March 11, 2020
For Immediate Release
Real Estate Investment Trust Securities Issuer
Sakura Sogo REIT Investment Corporation
Representative:
Toru Sugihara, Executive Director(Code: 3473)
Asset Management Company
Star Asia Investment Management Co., Ltd.
Representative:
Atsushi Kato, President and CEO
Inquires:
Akiko Kanno, Director and CFO
TEL: 03-5425-1340

Notice Regarding Results of the Petition for Provisional Disposition Order
filed by the Former Asset Manager
As announced in the press release dated January 20, 2020 entitled “Notice Concerning Petition for an Order ofProvisional Disposition against the Asset Manager” (in Japanese only), Sakura Sogo REIT Investment Corporation(“SSR”) had been subject to a petition (the “Petition”) filed by Sakura Real Estate Funds Management, Inc., theformer asset manager for SSR (the “Former Asset Manager”; the asset management agreement with the Former
Asset Manager was terminated on February 29, 2020) seeking a provisional disposition order to tentatively
decide that the Former Asset Manager was in the position to hold rights against SSR under the asset
management agreement. However, the Tokyo District Court recently decided to dismiss the Petition. Details areas follows.
1.

Background of the Petition
The asset management agreement between SSR and the Former Asset Manager was terminated onFebruary 29, 2020, in accordance with the resolution passed in SSR’s general meeting of unitholders which
was convened by Lion Partners Godo Kaisha, a minority unitholder of SSR, on August 30, 2019 (the“Unitholders’ Meeting”), and the termination notice sent by SSR pursuant to such resolution. However, theFormer Asset Manager filed a petition for provisional disposition order to tentatively decide that the Former
Asset Manager itself was in the position to hold rights against SSR under the asset management agreement,
claiming that there were grounds for cancelling the resolution passed at the said Unitholders’ Meeting.

2.

Background leading to dismissal of the Petition
With respect to whether or not there were grounds for cancelling the resolution passed at the Unitholders’Meeting, the Court judged that no grounds for cancellation was recognized as stated below, and that
therefore other points did not warrant consideration and there was no reason to justify the Petition, and thePetition was dismissed.
(1) The convocation procedures for the Unitholders’ Meeting did not violate any laws or regulations, andwas not recognized to be significantly unfair.
(2) The resolution method for the Unitholders’ Meeting did not violate any laws or regulations, and was
not recognized to be significantly unfair.
(3) The convocation procedure and resolution method of the Unitholders’ Meeting, when seen as a whole,
was not recognized to be significantly unfair.

1

3.

The court which decided the dismissal, and date of such decision.
(1) Court which decided the dismissal: Tokyo District Court(2) Date of decision of dismissal: March 10, 2020.

4.

The Former Asset Manager which filed the Petition.
(1) Name: Sakura Real Estate Funds Management, Inc.
(2) Location: Hiei-Kudan Building 9F, 3-8-11 Kudan-Minami, Chiyoda-ku, Tokyo(3) Representative’s title and full name: Kyong-pil Min, Representative Director and President (Note)(Note) This states the title and full name of the representative as of today.

5.

SSR’s Response Policy and Future Outlook
SSR had been claiming that the Petition lacked reasonable grounds, and therefore, SSR believes that a fairdecision was made under the court proceedings.
As of today, there is no impact on SSR’s business performance due to dismissal of the Petition. Going forward,
if timely disclosure should become necessary, such disclosure will be promptly made.

＊ Sakura Sogo REIT Investment Corporation website address:

http://sakurasogoreit.com/en/

This is an English translation of the announcement in Japanese dated March 11, 2020. However, noassurance or warranties are given for the completeness or accuracy of this English translation.

2