Revitalization. Business. Development. Business

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2 Creating new value and inspira Revitalization In the Revitalization, Tosei acquires properties whose asset value has declined, improves their design, convenience and security, and introduces environment-friendly features, based on value-up plans that reflect local characteristics and tenant needs. The revitalized properties are sold to a range of investors. For end users, we also operate a Restyling in which we acquire and refurbish entire rental condominium buildings and sell the individual units. Tosei Revival Investment Co., Ltd. also acquires properties through mergers and acquisitions. Development In the Development, Tosei examines the characteristics of acquired land and determines the use that will maximize its value, choosing from a diverse product lineup that includes office buildings, commercial facilities, condominiums and detached houses. We then develop and sell the properties. Tosei has its own first-class architectural office to ensure craftsmanship and quality. In recent years, we have also focused on developing eco-friendly properties.

3 tion in all aspects of real estate The Rental provides a stable income stream through leasing of office buildings, condominiums, stores, car parks and other Group-owned properties, in the greater Tokyo area. We maintain and improve the value of these properties through our comprehensive operations that make full use of the Group s unique expertise. Rental In our Fund and Consulting, Tosei Asset Advisors, Inc. provides asset management services for real estate funds and manages the assets of Tosei Reit Investment Corporation. The services include the acquisition and disposition of properties tailored to investor needs, raising the occupancy rates of rental condominium buildings, and giving other kinds of advice. Tosei also provides consultancy and intermediary services for corporates. Fund and Consulting Operated by Tosei Community Co., Ltd., the Property Management offers comprehensive property management services including building and facility management, cleaning, renovation and tenant leasing operations. Managed properties have been expanding from buildings and condominiums to hotels, commercial and logistics facilities, and schools as a result of offering services that maximize cash flows and increase asset value. Property Management

4 M essage The Tosei Group maintains its core real estate operations while pursuing unlimited growth opportunities in new areas. Under the corporate philosophy, To create new value and inspiration in all aspects of real estate we as a global-minded group of seasoned professionals, work to contribute to society and increase corporate value by developing real estate and restoring its value with a view of 10 to 20 years in the future and a constant commitment to monozukuri, the Japanese tradition of always producing things with a true craftsman s mindset. As people s lifestyles and values change over time, the types of real estate that they require are diversifying. Moreover, the real estate finance market has recently been globalizing at a striking pace. Consequently, real estate financing now needs world-class management. In this environment, the Tosei Group is determined to exert the comprehensive strength and synergy of its five main businesses and to drive its entry into the global market. The Tosei Group will continue to develop its operations with commitment and integrity. Having established a corporate brand that inspires trust, we aim to become a close and indispensable part of people s lives and businesses. We look forward to your continuing support. President and CEO [Mission] Create new value and inspiration in all aspects of real estate as a global-minded group of seasoned professionals. [Management Principles] Continue developing seasoned, true professionals based on people-centered management. Face risks with entrepreneurial drive and inspire continual innovation by breaking through the boundaries of convention. Optimize investments through portfolio management that integrates real estate and finance. Remain committed to quality, seek value globally and expand our network of cooperation. Maintain fair business practices while pursuing world-class management quality. [Action Principles] Ceaselessly sharpen professional attitudes, knowledge and skills. Think and collaborate to become a learning organization. Stay true to our word, make clear decisions, and act speedily. Create an enjoyable, positive corporate culture through mutual respect and teamwork. The Tosei Group s Corporate Philosophy

5 H istory 1950 Established as Yukari Kogyo Co., Ltd Company name changed to Tosei Building Co., Ltd Seiichiro Yamaguchi appointed as President and CEO Initiated residential condominium development (THE Palms Series) 1996 Company name changed to Tosei Fudosan Co., Ltd. Initiated Revitalization 1999 Initiated detached house development (THE Palms Court Series) 2001 Acquired First-class Architect s Office License (Tokyo Governor s Registration No ) 2002 Structured first private real estate investment trust fund, the Argo Fund, targeting rental condominiums (commencement of real estate securitization business) 2004 Acquired ISO9001 certification (Architecture Planning ) Listed on JASDAQ Securities Exchange 2005 Registered as a Securities Investment Adviser Established the subsidiary Tosei Revival Investment Co., Ltd. to conduct corporate and business turnarounds Made Tosei Community Co., Ltd. a consolidated subsidiary Registered as a dealer of Investment Trust Beneficiary Rights Established the subsidiary Tosei REIT Advisors, Inc. (Current name: Tosei Asset Advisors, Inc.) 2006 Company name changed to Tosei Corporation Listed on Second of Tokyo Stock Exchange Moved headquarters to Minato Ward, Tokyo 2007 Pre-registered as a Financial Instrument Operator engaged in the Investment Advisory and Agency or Type 2 Financial Instruments in accordance with Financial Instruments and Exchange Law Listed on First of Tokyo Stock Exchange 2009 Initiated Restyling for condominiums Established the subsidiary Tosei Singapore Pte. Ltd Adopted International Financial Reporting Standards (IFRS) Listed on Main Board of Singapore Exchange Urban Home Corporation has become a Group company through a merger and acquisition 2016 Established the subsidiary Tosei Hotel Management Co., Ltd. Tosei Reit Investment Corporation, which contracts out the management of its assets to Tosei Asset Advisors, Inc., a consolidated subsidiary of Tosei Corporation, listed shares on Tokyo Stock Exchange

6 F inancial R esults (FY2016 Consolidated) <IFRS> Revenue Operating profit (Millions of yen) (Millions of yen) 60,000 50,000 40,000 30,000 20,000 24,195 35,070 49,981 43,006 49,818 10,000 8,000 6,000 4,000 2,856 3,914 5,560 6,891 9,279 10,000 2, Profit for the year Total assets Total equity (Millions of yen) 6,000 5,547 (Millions of yen) 120, ,276 5, ,000 93,196 4,000 3,000 2,874 4,135 80,000 60,000 65,363 71,283 80,858 2,000 1,465 2,006 40,000 26,543 30,092 32,727 36,228 41,010 1,000 20, Total assets Total equity Percentage of revenue by business segment (FY2016) Percentage of operating profit by business segment (FY2016) 4% 8% 1% 8% 10% 22% 36% 26% 52% 33% Revitalization Development Rental Fund and Consulting Property Management

7 C orporate D ata (As of November 30, 2016) Company name President and CEO Address Tosei Corporation Seiichiro Yamaguchi Date of establishment February 2, 1950 Capital 6,421,392,000 Toranomon Tosei Building, Toranomon, Minato-ku, Tokyo Stock listings Tokyo Stock Exchange, First (Ticker code: 8923) Singapore Exchange, Main Board (Ticker code: S2D) Employees 368 (Consolidated) 152 (Non-consolidated) Fields of business Licenses Management team (As of April 1, 2017) Revitalization, Development, Rental, Fund and Consulting Real Estate License, Specified Construction License, First Class Architect s Office License, Registered Financial Instrument (Type 2 Financial Instrument, Advisor and Agency), General Real Estate Investment Advisory Registration, Real Estate Specific Joint Enterprise Permit President and CEO Seiichiro Yamaguchi Director, COO Katsuhito Kosuge Director, CFO Noboru Hirano Independent Directors Goro Kamino Kenichi Shohtoku Audit & Supervisory Board Members Yutaka Kitamura (full-time) Hiroshi Nishinakama (full-time) Tatsuki Nagano Osamu Doi Senior Executive Officer ( Division) Masaaki Watanabe Senior Executive Officer ( 1) Hideki Nakanishi Executive Officer (Corporate Planning ) Ichiro Kawabata Executive Officer (Administration ) Shunsuke Yamaguchi Executive Officer (Accounting ) Nobuto Fujiwara Executive Officer ( 2, Architecture Planning ) Koji Kuramoto Executive Officer ( 3) Hitoshi Oshima Executive Officer ( 4) Tenshin Ito Organizational structure (As of April 1, 2017) Audit & Supervisory Board General Meeting of Shareholders Board of Directors Corporate Governance Meeting Risk Management and Compliance Committee Nominating and Compensation Advisory Committee President and CEO Management Meeting Information Disclosure Committee Administrative Division Division Internal Audit Corporate Planning Administration Human Resources Accounting Promotion Architecture Planning Group Companies (As of April 1, 2017) Tosei Community Co., Ltd. Fields of business : Property Management Representative : Hisashi Hasegawa Tosei Revival Investment Co., Ltd. Fields of business : Real Estate M&A, Financial Advisory Representative : Kaname Wakabayashi Tosei Asset Advisors, Inc. Fields of business : Fund and Consulting Chairman & Representative : Hiroshi Nakamura President & Representative : Akihiko Fujinaga Tosei Hotel Management Co., Ltd. Representative : Ichiro Kawabata Urban Home Corporation Representative : Koji Kuramoto Tosei Singapore Pte. Ltd. Managing Director : Ichiro Kawabata

8 Company Name and Group Logo symbolizes unlimited growth and opportunities represents the integration of real estate and finance, and a global business scope expresses flexibility Toranomon Tosei Building, Toranomon, Minato-ku, Tokyo Inquiries: Corporate Planning Phone: (81) Fax: (81) Printed in Japan on recycled paper using the waterless process and non-voc, soy-based vegetable oil ink