#Refinancing

Scheduled to newly borrow 10,200 million yen in short-term borrowings on April 1, 2026, and conduct refinancing by repaying the same amount of long-term borrowings.

JALCO Holdings Co., Ltd. has procured a borrowing of 953,500,000 yen from Mizuho Bank, Ltd. to refinance existing real estate loans. The loan agreement date is March 24, 2026, and the loan execution date is March 26, 2026.

Industry Fund Investment Corporation refinanced a total of 9,000 million yen in borrowings from multiple financial institutions, with the total borrowings remaining at 279,033 million yen and interest rates undecided.

Daiwa Securities Living Investment Corporation has decided to conduct refinancing of 4,509 million yen on March 23, 2026, reducing short-term borrowings and increasing long-term borrowings.

Refinancing of 1,000 million yen borrowings maturing on January 30, 2026, with a 3-year fixed interest rate of 1.959%. Total borrowings remain unchanged at 279,033 million yen.

Daiwa Securities Living Investment Corporation will execute refinancing totaling JPY 2,591 million as of January 27, 2026. This refinancing is for repayment funds of borrowings from multiple financial institutions.

Escon Japan REIT Investment Corporation plans to undertake new long-term borrowings of 7,797 million yen on January 30, 2026, to refinance existing long-term borrowings of 7,797 million yen.

Nihon Toshi Fund Investment Corporation will refinance borrowings totaling approximately 100 billion yen with repayment due on January 30, 2026, aiming to stabilize funding by increasing long-term borrowings.

Japan Hotel REIT Investment Corporation plans to borrow a term loan of 2,500 million yen from Mizuho Bank on January 30, 2026, and refinance the existing loan of 2,526 million yen due on the same day.