Notice Regarding an Ivestment in Tokumei Kumiai (silent partnership) Preferred Equity of a Private Fund and an Appointment of Tosei Asset Advisors, Inc. as a Asset Manager
[Translation]
To Whom It May Concern
2 September 2013
Tosei Corporation
Toranomon Tosei Building, 4-2-3 Toranomon, Minato-ku, Tokyo
President and CEO: Seiichiro Yamaguchi
Securities code: 8923 (Tokyo Stock Exchange, First Section)
Securities code: S2D (Singapore Exchange, Main Board)
Contact: Noboru Hirano, Director and CFO
TEL: +81-3-3435-2864
Notice Regarding an Investment in Tokumei Kumiai (silent partnership) Preferred Equity of a Private Fund and the Appointment of Tosei Asset Advisors, Inc. as the Asset Manager
Tosei Corporation (the "Company") has made a Tokumei Kumiai preferred equity investment in "Kamiya-cho Invest Godogaisha (a limited liability company)" (the "Fund"), with the details stated below, and the Fund has also engaged Tosei Asset Advisors, Inc. ("TAA"), a subsidiary of the Company, as the asset manager of the Fund. The properties shown below have been acquired by the Fund as of August 30 2013.
The Company and its subsidiaries (the "Company Group") position their fund and consulting business as one of the growth drivers, and are trying to strengthen the relationship with various investors inside and outside the nation. The balance of the assets under management was ￥256 billion as of the end of May 2013, and the Company Group plans to expedite the actions to further increase the balance. The Company’s listing on the Singapore Exchange Securities Trading Limited is also expected to serve as a support for the growth and expansion of this business segment as a part of its global strategy.
The Company Group is targeting to develop a trusting relationship with onshore and offshore investors. By making strategic co-equity investments, as in the case of this transaction, the Company Group will strive for the opportunities to set up new funds which will lead to additional asset management/property management businesses.
- 1.Outline of the Transaction
The Company has made a partial investment in a Tokumei Kumai preferred equity with respect to a fund investing in beneficiary rights of a trust with three residential properties in Tokyo, Osaka and Nagoya as the trust assets. TAA has been appointed as the asset manager for this fund.
- 2.Summary of the Properties Placed in the Fund
Ams Yotsuya 3 chome Prezio Fukushima Hills Hachimanyama Location Shinjuku Ward, Tokyo Osaka City, Osaka Nagoya City, Aichi Site Area 454.24 m2 458.85 m2 573.00 m2 Gross Floor Space 2,524.43 m2 1,848.91 m2 823.18 m2 Number of Units 58 (incl. one retail space) 42 29 Completion January 2004 March 2007 March 2008 - 3.Future Outlook
The above transaction has only a minor impact to the performance of the Company Group for the fiscal year ending November 2013, and the Company does not plan to make any revision to the performance forecast announced on July 5.
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