Japanese Commercial Real Estate

Nippon Building Fund

Market Cap: JP¥1.1t

NBF (Nippon Building Fund Inc.) is Japan's largest real estate investment trust (J-REIT) which invests in office buildings primarily in Tokyo as well as nationwide.

Japan Real Estate Investment

Market Cap: JP¥742.7b

Japan Real Estate Investment Corporation (the "Company") was established on May 11, 2001 pursuant to Japan's Act on Investment Trusts and Investment Corporations ("ITA").

Japan Metropolitan Fund Investment

Market Cap: JP¥663.9b

Japan Metropolitan Fund Investment Corporation (JMF) has been listed on the Real Estate Investment Trust (“REIT”) Section on the Tokyo Stock Exchange (Securities code: 8953) as Japan Retail Fund in March 2002.

ORIX JREIT

Market Cap: JP¥479.7b

OJR was established on September 10, 2001, and was listed and commenced trading on the Tokyo Stock Exchange on June 12, 2002 as the fourth Real Estate Investment Trust in Japan, or "JREIT," to be listed.

Invincible Investment

Market Cap: JP¥475.6b

INV was established in January 2002 in accordance with the Investment Trust and Investment Corporation Act (Act No.

Japan Hotel REIT Investment

Market Cap: JP¥359.8b

Japan Hotel REIT Investment Corporation(JHR) is the J-REIT that specifies in the hotels.

Japan Prime Realty Investment

Market Cap: JP¥338.5b

Japan Prime Realty Investment Corporation (JPR) was established on September 14, 2001, under the Act on Investment Trusts and Investment Corporations (Act No.

Daiwa Office Investment

Market Cap: JP¥266.9b

Daiwa Office Investment Corporation was established on July 11, 2005, in accordance with the Act on Investment Trusts and Investment Corporations (Act No.

AEON REIT Investment

Market Cap: JP¥258.8b

AEON REIT Investment Corporation (hereinafter, “AEON REIT”) invests primarily in retail and related properties which, as an integral part of the communities in which they are located, form the backbone of communities and their retail business infrastructure.

Mori Hills REIT Investment

Market Cap: JP¥253.1b

The Company was incorporated by Mori Building Investment Management Co., Ltd.

Frontier Real Estate Investment

Market Cap: JP¥212.3b

Frontier Real Estate Investment Corporation (“FRI”) is a REIT specializing in retail facilities and was listed on the Real Estate Investment Trust Market (the J-REIT market) of the Tokyo Stock Exchange in August 2004.

Japan Excellent

Market Cap: JP¥168.7b

Japan Excellent, Inc. (hereinafter, "JEI"), established on February 20, 2006 under the Law Concerning Investment Trusts and Investment Corporations of Japan (the "Investment Trust Law"), is a real estate investment corporation which primarily invests in office buildings.

Ichigo Office REIT Investment

Market Cap: JP¥124.7b

Ichigo Office (8975) is a specialized office REIT that focuses on mid-size offices, an asset class that offers both return stability and upside potential.

Fukuoka REIT

Market Cap: JP¥124.6b

Fukuoka REIT Corporation (securities code: 8968) is the first region-specific REIT in Japan.

Hoshino Resorts REIT

Market Cap: JP¥116.6b

Hoshino Resorts REIT, Inc. (HRR) was publicly listed in 2013 as one of the smallest listed real estate investment trusts (REIT) in the world.

Global One Real Estate Investment

Market Cap: JP¥113.5b

Global One Real Estate Investment Corporation (“GOR”) is a Japanese Real Estate Investment Trust (J-REIT) listed on the Tokyo Stock Exchange (TSE: 8958) with the ultimate goal of pursuing maximum returns for unitholders.

One REIT

Market Cap: JP¥63.7b

Operates as a real estate investment trust.

Ichigo Hotel REIT Investment

Market Cap: JP¥39.5b

Ichigo Hotel REIT Investment Corporation (the "Investment Corporation") was established on July 22, 2015 (with investment of 300 million yen and 3,000 issued units) in accordance with the Act on Investment Trusts and Investment Corporations (Act No.

SANKEI REAL ESTATE

Market Cap: JP¥38.6b

Sankei Real Estate Investment Corporation was listed on the Tokyo Stock Exchange Real Estate Investment Trust Securities Market (J-REIT Market) on March 12, 2019 (Securities Code: 2972 ??/ Brand Abbreviation: Sankei RE).

Healthcare & Medical Investment

Market Cap: JP¥38.2b

Healthcare & Medical Investment Corporation was listed on the Real Estate Investment Trust Securities Market of the Tokyo Stock Exchange (J-REIT).

Nippon Hotel & Residential Investment

Market Cap: JP¥20.7b

Ooedo Onsen Reit Investment Corporation (“Ooedo Onsen Reit”) was listed on the Real Estate Investment Trust (REIT) section of the Tokyo Stock Exchange on August 31, 2016, as a unique J-REIT specializing in investment mainly in onsen (hot spring) and spa-related facilities.