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D     ;(   ;$   ;   ;!   ;  ;(   ;!   ;'  ;(   ; )   ; &???? ?d h?0    h?0    h?0    h?0    h?0    h?0    h?0    h?0    h?0    h?0    h?0    h?0    0耂€0 5????& 瞔 弍e$Pn0飠pe鍽to00焄pe$Pk0d0D0f0o0Rhcf00薸b詋o0踁hc擭eQh0W0f0D0~0Y00 5 h?Nn0婘Sn0(u誰o00!kn0h0J0?g0Y00 5  0 0 XSMO*g€n  0  0 唙!q萐o0r奡_peW[j0W0h?5??? 0篘,%0persons,% 5 4梄n?梄n噑 Change?% Change 05 ?????????? ,薸b詋梄n Change in % of Total(5 ????????? &槖膅pe Number of Listed Issues"5?????? ??r?? point 5 T?(1)+(5)+(6)+(7) Total 5  (1)  5 ?e淾?0W筫lQqQ鉜SO Govt. & Local Govt.  5    (5)  50 齎匭誰篘\?(2)+(3)+(4) Domestic Corporation Subtotal 5(2)  5' 褢崌_j\?a+b+c+d+e Financial Institutions 5! a 龕€掻00W€扞{ City & Regional Banks 5?? b 酧妧扡? Trust Banks 5- (a+bn0F0a0昩菍酧?R) (Out of a+b Investment Trusts )  5* (a+bn0F0a0t^褢酧?R) (Out of a+b Annuity Trusts )  5$ c u}T軴z?O>y Life Insurance Companies  5( d d砙軴z?O>y Non-life Insurance Companies  5* e ]0n0諲n0褢崌_j Other Financial Institutions  5(3)  5 y Securities Companies 5(4)  5 婲mi誰篘I{ Business Corporations 5(6)  5  Y齎誰篘I{ Foreigners5??????(7)  5  P篘?]0n0諲 Individuals 5 h?05??? 6@b g詋噑 梄n Change in % of Total25 ??????????? ??r?? point 5 T?(1)+(5)+(6)+(7) Total 5(1)  5 ?e淾?0W筫lQqQ鉜SO Govt. & Local Govt.  5(5)  50 齎匭誰篘\?(2)+(3)+(4) Domestic Corporation Subtotal 5(2)  5' 褢崌_j\?a+b+c+d+e Financial Institutions 5 b 酧妧扡? Trust Banks 5- (a+bn0F0a0昩菍酧?R) (Out of a+b Investment Trusts )  5* (a+bn0F0a0t^褢酧?R) (Out of a+b Annuity Trusts )  5$ c u}T軴z?O>y Life Insurance Companies  5( d d砙軴z?O>y Non-life Insurance Companies  5(3)  5 y Securities Companies 5(4)  5 婲mi誰篘I{ Business Corporations 5(6)  5 h?05??? 0篘,%0persons, % T?(1)+(2)+(3) Total 5(2)  5(3)  5 h?05??? T?(1)+(2)+(3) Total 5(2)  5(3)  5 T ?Total   5 S0wm0S?Hokkaido 5 qg S Tohoku   5  qg Kanto   5 -N 钀 Chubu   5 褟 u Kinki   5 -N 齎 Chugoku   5 踁 齎 Shikoku   5 ]N 轢 Kyushu   5 "wm0000Y Overseas5???? T ?Total   5 褟 u Kinki   5 -N 齎 Chugoku   5 踁 齎 Shikoku   5 ]N 轢 Kyushu   5 h? 5??? ????? Category 5 T?Total5????(1)  5 ?e淾?0W筫lQqQ鉜SO Govt. & Local Govt.  5(5)  50 齎匭誰篘\?(2)+(3)+(4) Domestic Corporation Subtotal 5' 褢崌_j\?a+b+c+d+e Financial Institutions 5(3)  5(6)  5 h? 5??? ????? Category 5(6)  5(7)  5 h? 5??? 0篘,%0persons,% 5 h?5???(3)  5 h?5??? 0Q哘,%0\100 mil.,%5???? 4軴 g詋噑 梄n Change in % of Total05 ??????????(5)  5(2)  5' 褢崌_j\?a+b+c+d+e Financial Institutions 5(4)  5(6)  5 h?05??? 踁 齎 Shikoku   5 h?5???(6)  5 0耂€05????6@b g詋噑梄n25 ??????????? ??r??,point 5(1)  5 ?e淾?0W筫lQqQ鉜SO Govt. & Local Govt.  5(5)  50 齎匭誰篘\?(2)+(3)+(4) Domestic Corporation Subtotal 5(2)  5' 褢崌_j\?a+b+c+d+e Financial Institutions 5 b 酧妧扡? Trust Banks 5- (a+bn0F0a0昩菍酧?R) (Out of a+b Investment T< rusts )  5* (a+bn0F0a0t^褢酧?R) (Out of a+b Annuity Trusts )  5$ c u}T軴z?O>y Life Insurance Companies  5( d d砙軴z?O>y Non-life Insurance Companies  5* e ]0n0諲n0褢崌_j Other Financial Institutions  5(3)  5 y Securities Companies 5(4)  5 婲mi誰篘I{ Business Corporations 5(6)  5(7)  5  P篘?]0n0諲 Individuals 5(1)  5 ?e淾?0W筫lQqQ鉜SO Govt. & Local Govt.  5(2)  5' 褢崌_j\?a+b+c+d+e Financial Institutions 5 b 酧妧扡? Trust Banks 5- (a+bn0F0a0昩菍酧?R) (Out of a+b Investment Trusts )  5* (a+bn0F0a0t^褢酧?R) (Out of a+b Annuity Trusts )  5( d d砙軴z?O>y Non-life Insurance Companies  5* e ]0n0諲n0褢崌_j Other Financial Institutions  5(3)  5 y Securities Companies 5(4)  5 婲mi誰篘I{ Business Corporations 5(6)  5(7)  5  P篘?]0n0諲 Individuals 54軴 g詋噑梄n05 ?????????? ??r??,point 5 ????? Category 5 T?(1)+(5)+(6)+(7) Total 5' 褢崌_j\?a+b+c+d+e Financial Institutions 5 b 酧妧扡? Trust Banks 5- (a+bn0F0a0昩菍酧?R) (Out of a+b Investment Trusts )  5* (a+bn0F0a0t^褢酧?R) (Out of a+b Annuity Trusts )  5$ c u}T軴z?O>y Life Insurance Companies  5( d d砙軴z?O>y Non-life Insurance Companies  5* e ]0n0諲n0褢崌_j Other Financial Institutions  5(3)  5 y Securities Companies 5(6)  5(7)  5  P篘?]0n0諲 Individuals 50繆鹓亯眪0`$?e淾e0W筫lQqQ鉜SO齎?龕S悳^ w?^:uQga$褢崌_j褢崌_jn0匭3妎0 N妌0h0J0? b$y褢崌FU罷諷_誰k0弶歔Y0?褢崌FU罷諷_mi€_0?yc$婲mi誰篘I{a$蔛s0b$錘Yn0誰篘 City, regional banks, etc.: Regular Japanese banks licensed under the Banking Act and the Long-Term Credit Bank Act. W> Trust banks: Trust banks that are members of the Trust Companies Association of Japang> Life insurance companies: Life insurance companies that are stipulated in the Insurance Business Act > Other financial institutions: Financial institutions other than those stipulated above, including credit unions (shinkin banks), credit associations, agriculture-related financial institutions, mutual aid associations, and government-related financial institutions, etc..@b g€%R昩菍;Npe*5???????@b g€%R昩菍鉙pe5???$@b g€%R昩菍;Npe 5?????@b g€%R昩菍鉙pe@b gpe%R昩菍鉙pe5??0W筫%R昩菍鉙pe@b gpe%R昩菍;Npe0W筫%R昩菍;Npe 0篘,%0persons,% 5 ????? Category 5 T?(1)+(5)+(6)+(7) Total 5 ?e淾?0W筫lQqQ鉜SO Govt. & Local Govt.  50 齎匭誰篘\?(2)+(3)+(4) Domestic Corporation Subtotal 5' 褢崌_j\?a+b+c+d+e Financial Institutions 5 b 酧妧扡? Trust Banks 5- (a+bn0F0a0昩菍酧?R) (Out of a+b Investment Trusts )  5* (a+bn0F0a0t^褢酧?R) (Out of a+b Annuity Trusts )  5$ c u}T軴z?O>y Life Insurance Companies  5( d d砙軴z?O>y Non-life Insurance Companies  5* e ]0n0諲n0褢崌_j Other Financial Institutions  5 y Securities Companies 5 婲mi誰篘I{ Business Corporations 5  P篘?]0n0諲 Individuals 5????cpe Office Index5???*OO匸cpe Residential Index&5????????$@b gpe%R昩菍;Npe 5?????$@b gpe%R昩菍鉙pe 5????? :h?00W筫%R昩菍;Npe65 ??????????  :h?00W筫%R昩菍鉙pe65 ?????????? *FFUmi?irAmI{cpe Retail & Logistics, Others IndexB5????????????????   昩菍钀€?RREIT軴 g褢M?5????  0W筫%RREIT軴 g褢M?5???? "Number of Investors by Holder Type)Number of Investment Units by Holder Type"Number of Investors by Number Held)Number of Investment Units by Number Held( Number of Investors by Region 5/ Number of Investment Units by Region 5DNumber of Investors by Holder Type by TSE REIT Property Sector IndexKNumber of Investment Units by Holder Type by TSE REIT Property Sector IndexDNumber of Investors by Number Held by TSE REIT Property Sector IndexKNumber of Investment Units by Number Held by TSE REIT Property Sector IndexREIT Holding by Investor TypeREIT Holding by Region?REIT Holding by Investor Type by TSE REIT Property Sector Index繆鹓a? 5 ???n0諷梍筫誰 5Yv0繆鹓a孯EITn0昩菍;N T?|I{t篘L00昩菍;N T?|n0?弅0揰c0f00]0?^0?舃S_W0f0D0?REITn0????zl梴gT0h0k0茤}W00麞P[抁SO?Oc0f0魐衏鶴?譙Q0?S0h0g0諷梍W0f0D0?0r5 ?????????????????????????    &7 繆鹓匭筟n0俰亯 5 (1)繆鹓???n0匭筟 5??0T繆鹓a孯EITk0d0D0f00昩菍;N T?|n0?弅0鶺e0M0錘 Nn0@b g€昩菍禰 ^\'`k0:SRW00]0n0昩菍;Npe蔛s0昩菍鉙pe?繆鹓Y0?0~0_00S_r娗0???CQk00hQSOn0@b g€%R昩菍;Npen0秗羖?@b g€%R昩菍鉙pe?^4Xy鉜誰篘酧奣SO燫遶n0酧妧扡? 5J0?昩菍酧?昩酧誰 0昩菍酧娛Ss0昩菍誰篘k0Y0?誰媉 0 k0弶歔Y0?訷?€n0酧姟?ug0 0000000B0c0f00酧妋i賀?禪€0€扡垝0 T?篘h0Y0??n0 5S0?t^褢酧?歋ut^褢軴z栒lk0弶歔Y0?歋ut^褢鶺褢蔛s0簒歔f}豊Omit^褢誰?簒歔郻鶴t^褢誰k0弶歔 0000000Y0?Omit^褢n0F0a00酧妋i賀?禪€0€扡垝0 T?篘h0Y0??n0 50?u}T軴z?O>y軴z杕i誰k0弶歔Y0?u}T軴z?O>y 50? d砙軴z?O>y軴z杕i誰k0弶歔Y0? d砙軴z?O>y 5F0?]0n0諲n0褢崌_j N婂NYn0褢崌_j0wQSO剉k0o00酧(u褢玘0酧(uD}T0矎梘鹼褢崌_j0 00000000000T.zqQn0?e淾鹼褢崌_jI{ 5Yd$Y齎誰篘I{Y齎n0誰媉k0鶺e0M0-娝zU0?_0誰篘0Y齎n0?e淾?0W筫lQqQ鉜SO蔛s0誰篘h`$昩菍;N T?|I{t篘K0?諷梍W0_0???k0鶺M00繆鹓a孯EITT0h0k0zl梴g(Wn0昩菍鉙pe???g0n0 @b g詋噑?梴鶴Y0?0d5????????????????????? $(*F4b$ a$g0梴鶴W0_0TREITn0昩菍钀€昑0h0n0軴 g褢M榢0d0D0f00繆鹓a宧QREITRn0T梴?L圖00hQREITn0 0昩菍钀€?R軴 g褢M槖0梴鶴Y0?005 ??????????'>@4c$ b$g0梴鶴W0_0hQREITn0昩菍钀€?R軴 g褢M槖00hQREITn0Bf蟷M榞0d朰0?S0h0g0^4XhQSOn0昩菍 0钀€?R軴 g詋噑?梴鶴Y0?005 ??????????!1. Scope of Survey 52. Method of Data Collection 5?Data included in this survey was obtained directly via electronic means from the administrators of the unitholder registers of the REITs. The data was compiled by the administrators based on the registers as of the end of the REIT's accounting period.3. Outline of Survey Contents 5 0(1)? Survey Data Contents  5?This survey was conducted on the number of investors and number of investment units held in the relevant REITs under the following investor categories based on the description in the unitholder register. Additionally, based on such data, the overall amount/ratio held by investor type, etc. was calculated based on market prices and the overall number of investors and number of investment units held by investor type. (Note) OThe definition of each investor category presented in the survey is as follows: 5U1. Government and local government: National, prefectural, and municipal governments  52. Financial institutions 5?> Investment trusts: Trust assets of thrustors that are stipulated in the Investment Trust Act (Act on Investment Trusts and Investment Corporations), and whose nominees (trustees) are banks that conduct trust business 5M> Annuity trusts: Employees pension funds that are stipulated in the Employees Pension Insurance Act, and corporate pensions stipulated in the Defined-Benefit Corporate Pension Act or the Defined Contribution Pension Act, whose nominees (trustees) are banks that conduct trust business. (excluding public pensions under management) 5n> Non-life insurance companies: Non-life insurance companies that are stipulated in the Insurance Business Act 5? 3. Securities companies: Securities companies that are financial instruments business operators as stipulated in the Financial Instruments and Exchange Act.0? 5m 4. Business corporations: All companies incorporated in Japan other than those described in 2. and 3. above.0l 55. Foreign corporations: Corporations that were established based on foreign laws; foreign and municipal governments, and entities that are not incorporated; and individuals whose nationalities are other than Japanese, regardless of their place of residence. 5?6. Individuals and others: Individuals and non-incorporated groups with Japanese nationality, regardless of their place of residence. 5Z0(2) Date for Number of Investors and Units and Calculation Method for Number of Investors3Calculations are performed based on 1. to 4. below.?1. Calculate the unit-based holding ratios for each REIT using data as of the end of the accounting period that is obtained from administrators of unitholder registers.3. Calculate the market capitalization by investor type for all REITs by totaling the market value for each REIT obtained in 2.?4. Calculate the investment ratio by investor type for the overall market by dividing the market value held by investor type for all REITs obtained in 3. by the total market value of all REITs. h?0    5 1???  5"Number of Investors by Holder Type 5)Number of Investment Units by Holder Type 5"Number of Investors by Number Held 5)Number of Investment Units by Number Held 5Number of Investors by Region 5$Number of Investment Units by Region 5 *qg<奟EIT(u?Rcpen0薸b槖膅%Rk00_0@b g€%R昩菍;Npe   &5???????? DNumber of Investors by Holder Type by TSE REIT Property Sector Index 5 *qg<奟EIT(u?Rcpen0薸b槖膅%Rk00_0@b g€%R昩菍鉙pe&5???????? KNumber of Investment Units by Holder Type by TSE REIT Property Sector Index 5 Jqg<奟EIT(u?Rcpen0薸b槖膅%Rk00_0@b gpe%R昩菍;NpeF5???????????????   DNumber of Investors by Number Held by TSE REIT Property Sector Index 5 *qg<奟EIT(u?Rcpen0薸b槖膅%Rk00_0@b gpe%R昩菍鉙pe&5???????? KNumber of Investment Units by Number Held by TSE REIT Property Sector Index 5REIT Holding by Investor Type 5REIT Holding by Region 5!qg<奟EIT(u?Rcpen0薸b槖膅%Rk00_0昩菍钀€?RREIT軴 g褢M? 5?REIT Holding by Investor Type by TSE REIT Property Sector Index 5d(Note) I<5n this survey, data is provided in terms of "Total Market Value based" and "Unit based." In order to distinguish the basis used, investor category is referred to as "investor type" for total market value-based values and as "holder type" for unit-based values. For holding ratios, the corresponding terms are "investment ratio" and "holding ratio." 5J 0(3) Calculation Method for Amount Held and Holding Ratio by Investor Type 5 鉙,%0units,%5??49鉙錘 N a+b+c 49 units or fewera 1鉙 - 4鉙 1 unit - 4 unitsb 5鉙 - 9鉙 5 units - 9 units"c 10鉙 - 49鉙 10 units - 49 units50鉙 - 99鉙 50 units - 99 units 100鉙錘 N d+e+f+g 100 units or more&d 100鉙 - 499鉙 100 units - 499 units&e 500鉙 - 999鉙 500 units - 999 units*f 1000鉙 - 4999鉙 1000 units - 4999 unitsg 5000鉙錘 N 5000 units or more*qg<奟EIT(u?Rcpen0薸b槖膅%Rk00_0@b g€%R昩菍;Npe&5???????? *qg<奟EIT(u?Rcpen0薸b槖膅%Rk00_0@b g€%R昩菍鉙pe&5???????? Jqg<奟EIT(u?Rcpen0薸b槖膅%Rk00_0@b gpe%R昩菍;NpeF5???????????????   *qg<奟EIT(u?Rcpen0薸b槖膅%Rk00_0@b gpe%R昩菍鉙pe&5????????  鉙,%0units,%5??!*qg<奟EIT(u?Rcpen0薸b槖膅%Rk00_0昩菍钀€?RREIT軴 g褢M?&5???????? #? qg<奟EIT(u?Rcpen0薸b槖膅%Rk00_0@b g€%R昩菍鉙pen0g詋??5 ????????????????????????????????    !(? qg<奟EIT(u?Rcpen0薸b槖膅%Rk00_0昩菍钀€?RREIT軴 g褢M榥0g詋??5 ????????????????????????????????   !%&! "qg<奟EIT(u?Rcpen0薸b槖膅%Rk00_0@b g€%R昩菍鉙pen0g詋?   5????&"qg<奟EIT(u?Rcpen0薸b槖膅%Rk00_0昩菍钀€?RREIT軴 g褢M榥0g詋?5????#$ ???? cpe Office Index5???+ FFUmi?irAmI{ cpe Retail & Logistics, Others Index B5????????????????   ????? Category 5 T?(1)+(5)+(6)+(7) Total 5(1)  5 ?e淾?0W筫lQqQ鉜SO Govt. & Local Govt.  5(5)  50 齎匭誰篘\?(2)+(3)+(4) Domestic Corporation Subtotal 5(2)  5' 褢崌_j\?a+b+c+d+e Financial Institutions 5 b 酧妧扡? Trust Banks 5- (a+bn0F0a0昩菍酧?R) (Out of a+b Investment Trusts )  5* (a+bn0F0a0t^褢酧?R) (Out of a+b Annuity Trusts )  5$ c u}T軴z?O>y Life Insurance Companies  5( d d砙軴z?O>y Non-life Insurance Companies  5* e ]0n0諲n0褢崌_j Other Financial Institutions  5(3)  5 y Securities Companies 5(4)  5 婲mi誰篘I{ Business Corporations 5(6)  5(7)  5  P篘?]0n0諲 Individuals 5(3)  5BREITs listed on stock exchanges in Japan (Tokyo, Nagoya, Fukuoka, Sapporo) as of the end of February 2015 are included. 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