Notice Regarding the Determination of Planned Acquisition and Transfer Prices for Domestic Real Estate Trust Beneficiary Rights by Exchange (Acquisition: Funabashi Nishiura Logistics Center III; Transfer: Ichikawa Logistics Center II (Quasi-Co-ownership Interest 54%))

Overview of Real Estate Trust Beneficiary Rights Acquisition and Transfer Price Determination by Exchange

Japan Logistics Fund, Inc., based on the contract dated January 16, 2025, determined the planned acquisition price for Funabashi Nishiura Logistics Center III and the planned transfer price for Ichikawa Logistics Center II (quasi-co-ownership interest 54%) by the end of January 2026 based on appraised values. The acquisition price is 15.7 billion yen, the transfer price is 14.88 billion yen, and the exchange margin is 820 million yen. The exchange is scheduled to be conducted in three installments and will be paid in a lump sum using borrowings and internal funds.

Future Outlook and Details of Appraisal

There is no change to the expected operational status for the fiscal period ending July 2026 due to this exchange, and the impact on financial results has already been factored in. The appraised values are 16.74 billion yen for Funabashi Nishiura Logistics Center III (capitalization rate 3.9%) and 14.88 billion yen for Ichikawa Logistics Center II (capitalization rate 3.6%). The planned acquisition asset will be subject to book value compression based on Article 50 of the Corporate Tax Act.