Make The World More Sustainable

[Provisional Translation Only]

This English translation of the original Japanese document is provided solely for information purposes. Should there be any discrepancies between this translation and the Japanese original, the latter shall prevail.

March 31, 2022

Issuer

Ichigo Hotel REIT Investment Corporation ("Ichigo Hotel," 3463)

1-1-1 Uchisaiwaicho, Chiyoda-ku, Tokyo

Representative: Osamu Miyashita, Executive Directorwww.ichigo-hotel.co.jp/en

Asset Management Company

Ichigo Investment Advisors Co., Ltd.

Representative: Hiroshi Iwai, President

Inquiries: Hidehito Iwasaka, Head of Ichigo Hotel Tel: +81-3-3502-4892

Change in Property Management Company

Ichigo Hotel decided today to appoint a new property management company ("PM") for the HOTEL EMIT SHIBUYA, The OneFive Osaka Sakaisuji, and The OneFive Fukuoka Tenjin.

1. Summary

Hotel

New PM

Current PM

HOTEL EMIT SHIBUYA

Tokyo Capital Management Co., Ltd.

Toyo Real Estate Property Management

Co., Ltd.

The OneFive Osaka Sakaisuji

The OneFive Fukuoka Tenjin

2. New PM Rationale

Ichigo Hotel decided on the change after receiving a contract termination request from the current PM, and used this request as an opportunity to evaluate several different PM companies. After a thorough review, the new PM was chosen based on its successful track record in servicing other Ichigo assets and competitive price offering.

3. New PM Profile

Name

Tokyo Capital Management Co., Ltd.

Address

1-14-2 Nishi Shinbashi, Minato-ku, Tokyo

Representatives

Akihiko Soga, Representative Director & President

Capital

JPY 100 million (as of July 1, 2021)

Shareholder

Nippon Kanzai Co., Ltd.

Principal Businesses

  • 1. Asset management

  • 2. Property management

  • 3. Real estate consulting

  • 4. Construction management

  • 5. Tenant brokerage

  • 6. Conference room rentals

  • 7. Parking lot management

Relationship with Ichigo Hotel or Ichigo Investment Advisors ("IIA")

The PM does not have any material capital, personnel, or transactional relationship with Ichigo Hotel or IIA, and is not a related party of Ichigo Hotel or IIA.

4. Date of PM Change April 1, 2022 (expected)

5. Earnings Impact

There is no impact on Ichigo Hotel's July 2022 and January 2023 fiscal period earnings forecasts announced in the March 17, 2022 release "January 2022 Fiscal Period Earnings."

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Disclaimer

Ichigo Hotel REIT Investment Corporation published this content on 31 March 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 31 March 2022 06:25:11 UTC.