Occupancy Rate

As of April 30, 2020

（％）

	Residential（%）	Retail（%）	Hotel（%）	Office（%）	Portfolio（%）

(Note 1)	The figures calculated by dividing total leased area by total leasable area as at the end of the month, rounded to the first decimal place.
(Note 2)	As for ArtizA Awajieki-higashi, the trustee of the property and Marimo Co., Ltd. have concluded a fixed-rent master lease agreement stipulating that Marimo Co., Ltd. shall pay the trustee rent the equivalent to 95% of the expected rental income at full occupancy from January 21, 2020, to June 30, 2020, regardless of the amount of rent that Marimo Co., Ltd. receives from the end tenant. However, since the occupancy rate of ArtizA Awajieki-higashi has reached 100% as of March 31, 2020, the “average occupancy rate” has been calculated based on the actual occupancy rate (100%). As for the said property, until June 30, 2020, when calculating “average occupancy rate,” the actual value for occupancy rate is used if the occupancy rate exceeds 95%. If the occupancy rate falls below 95%, it is assumed to be 95% based on the fixed-rent master lease agreement.

(Note 1)

The figures calculated by dividing total leased area by total leasable area as at the end of the month, rounded to the first decimal place.

(Note 2)

As for ArtizA Awajieki-higashi, the trustee of the property and Marimo Co., Ltd. have concluded a fixed-rent master lease agreement stipulating that Marimo Co., Ltd. shall pay the trustee rent the equivalent to 95% of the expected rental income at full occupancy from January 21, 2020, to June 30, 2020, regardless of the amount of rent that Marimo Co., Ltd. receives from the end tenant.
However, since the occupancy rate of ArtizA Awajieki-higashi has reached 100% as of March 31, 2020, the “average occupancy rate” has been calculated based on the actual occupancy rate (100%).
As for the said property, until June 30, 2020, when calculating “average occupancy rate,” the actual value for occupancy rate is used if the occupancy rate exceeds 95%. If the occupancy rate falls below 95%, it is assumed to be 95% based on the fixed-rent master lease agreement.