Professionals of the real estate finance market are committed to maximizing the unitholders’ interests.

Star Asia Investment Management, LLC.

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Message from the CEO

Star Asia Investment Management Co., Ltd. belongs to the Star Asia Group, an independent fund manager that has built a track record in providing institutional investors, mainly in the U.S., with opportunities for investing in real estate-related assets primarily in Japan, and is entrusted asset management for Star Asia Investment Corporation, a REIT managing a portfolio of diversified assets.

The Star Asia Group, which includes our parent company, has abundant achievements of managing funds of investors, such as overseas university funds, foundations and pension funds, by investing in real estate-related assets primarily in Japan. Its investment targets cover not only tangible real estate properties but also real estate backed debt and shares of real estate owning companies. The Group has seized income opportunities by drawing upon multidimensional approaches and agile investment techniques.
With such a track record of investment, the Star Asia Group has accumulated know-how of investment management in a variety of investment targets.

As a member of the Star Asia Group, we at Star Asia Investment Management Co., Ltd. will utilize the knowledge on real estate investment and management accumulated by the Group and, thoroughly implementing the Group's principle of “investors' interest-first,” will investigate what are the best measures for the benefit of unitholders without being bound by stereotypical views. By doing so, we are determined to conduct asset management in pursuit of maximizing the unitholders' interests.

Message Atsushi Kato President and CEO

Atsushi Kato

President and CEO
Star Asia Investment Management Co., Ltd.

Basic Philosophy

As the Asset Manager of Star Asia Investment Corporation, we adopt the basic principle as indicated below.

Basic principle:“unitholders' interest-first”

Under this basic principle, the Company takes the following actions in an effort to help maximize the unitholders' interests.

  1. 1 Investigate all measures considered to be beneficial for maximizing the unitholders' interests, without being bound by stereotypical views.
  2. 2 Develop and manage the portfolio with flexibility and agility based on our original market analyses, focusing on the stability and growth of income.
  3. 3 Conduct highly transparent management by disclosing necessary information to unitholders in a timely and appropriate manner.

Basic Policy on the “Principles for Customer-Oriented Business Conduct”

[Establishment and announcement of policy related to customer-oriented business conduct]

Star Asia Investment Management Co., Ltd. (the “Company”) has adopted the “Principles for Customer-Oriented Business Conduct” announced by the Financial Services Agency as of March 30, 2017, and announces the policy to realize customer-oriented business conduct alongside the status of initiatives taken as follows. The Company will regularly review the policy and status of initiatives to realize better business conduct.

[Pursuit of best interests of unitholders]

As a member of Star Asia Group, the Company will conduct asset management to maximize unitholder value by ensuring observance of the “unitholders’ interest-first” mindset, which is the management philosophy of the Group, and consider the best policy for all unitholders without being bound by stereotypical views.
As the asset management company of Star Asia Investment Corporation (hereinafter referred to as “SAR”), the Company has set the following basic principle.

    Basic principle: “unitholders’ interest-first”
    Under this basic principle, the Company will take the following actions in an effort to contribute to the maximization of unitholders’ interest.
  • ・Investigate all measures considered to contribute to the maximization of unitholders’ interest, without being bound by stereotypical views.
  • ・Manage the portfolio with flexibility and agility based on our unique market analysis, focusing on the stability and growth of income.
  • ・Conduct highly transparent management by disclosing necessary information to unitholders in a timely and appropriate manner.

[Appropriate management of conflict of interest]

The Company accurately understands the possibility of the occurrence of conflict of interest with unitholders in transactions and the possibility of the occurrence of conflict of interest arising due to its management of SAR and will appropriately manage conflicts of interest when there is a possibility that such conflict may occur. The Company has established the “Rules on Transactions with Interested Parties” as a specific policy to handle such conflict. Furthermore, the Company has established a Compliance Committee comprised of third-party members who are able to provide opinions from a specialist and neutral perspective (and whose approvals are required for passing resolutions), as a framework for preventing conflict of interest, and is being properly managed.
As the Company is dedicated to conducting the asset management of SAR, and is not engaged in the sales and recommendation etc. of financial instruments, the Company has not established in particular any policy related to the management of conflict of interest related to the sales and recommendation etc. of financial instruments.

[Clarification of commissions, etc.]

The Company will provide information to help unitholders understand the details of commissions, etc. paid to the Company by SAR, including the type of services for which commissions, etc. are paid as compensation.

[Provision of important information through comprehensible channels]

The Company will provide important information related to SAR to unitholders through comprehensible channels given that there are differences between the information held by the Company and those held by unitholders.
As the Company is dedicated to conducting the asset management of SAR, and is not engaged in the sales and recommendation etc. of financial instruments, the Company has not established in particular any policy related to the organization of a system related to the provision of information for the sales and recommendation etc. of financial instruments.

[Provision of services suitable for customers]

Based on the basic principle of “unitholders’ interest-first”, the Company will implement various measures determined to contribute to the stability and growth of income from a mid- to long-term perspective. Furthermore, in order to contribute to investment decisions by unitholders, the Company will provide necessary and easy-to-understand information which matches the attributes of unitholders.
As the Company is dedicated to conducting the asset management of SAR, and is not engaged in the sales and recommendation etc. of financial instruments, the Company has not established in particular any policy related to the organization of a system for making specific proposals of financial instruments and services.

[Framework for appropriately motivating employees, etc.]

The Company will develop a remuneration and business performance evaluation system designed to promote behavior to pursue the best interests of unitholders, fair treatment of unitholders and appropriate management of conflicts of interest, and develop a framework of employee training and other appropriate motivation, and an appropriate governance system.

[Status of initiative taken for “Principles for Customer-Oriented Business Conduct”]

The status of initiative taken by the Company for “Principles for Customer-Oriented Business Conduct” is disclosed below.

[Pursuit of best interests of unitholders]

The Company will, upon managing the assets of SAR, pursue maximization of unitholders’ interest by making efforts to increase the distribution per unit etc. For details on such status, please refer to the financial results presentation material disclosed in the SAR website.
https://starasia-reit.com/en/ir/library.html

[Appropriate management of conflicts of interest]

For details regarding the Company’s initiatives taken for appropriate management of conflicts of interest and the status of transactions with interested parties etc. of the Company, please refer to the section [Restrictions on Transactions with Interested Parties] in SAR’s securities report (available in the Japanese language only).
https://starasia-reit.com/en/ir/library.html

The number of cases related to conflict of interest at the Company deliberated at the Compliance Committee, and the number of times the Compliance Committee has been held are as follows.

FY 2021 FY 2022
Number of conflict-of-interest cases deliberated 6 cases 1 cases
FY 2021 FY 2022
Number of times Compliance Committee has been held 12 times 6 times

[Clarification of commissions, etc.]

The asset management fees received by the Company from SAR are comprised of the interim fee I, interim fee II, acquisition fee, assignment fee, and merger fee. Please see SAR’s Certificate of Incorporation for details of calculation methods and upper limit of rates for each fee. Also, for details regarding asset management fees paid to the Company each period, please refer to SAR’s Asset Management Report (Part I: Asset Management Report, 5. Status of Expenses and Liabilities (1) Specifications of expenses related to management etc.)

<Star Asia Investment Corporation>
SAR’s Certificate of Incorporation:
https://starasia-reit.com/file/en-about_articles-b2b78b9c1cd0f9b42ec78790340d41745200b7e3.pdf
Asset management fees:
https://starasia-reit.com/en/ir/library.html

[Provision of important information through comprehensible channels]

With respect to the status of provision of important information through comprehensible channels, information meetings targeting institutional investors and analysts are held for the end of SAR’s each fiscal year, where financial results are reported and business forecasts for the following and next following business years are explained. Regarding the contents of such information meetings, the materials disclosed at such meetings as well as the video clips of such meetings are disclosed on SAR’s website. Furthermore, after the financial results are announced, the Company conducts IR activities towards institutional investors in Japan and abroad. For individual investors, information meetings targeting individual investors are held, and the Company also participates in individual investors’ seminars held by securities firms and various industry associations and explains about the financial results of the Company at such meetings as well. Also, Star Asia’s official channel has been established on an online video service platform (YouTube), where information regarding SAR is described.

<Star Asia Investment Corporation>
Financial results related materials : https://starasia-reit.com/en/ir/library.html
Press releases:https://starasia-reit.com/en/ir/index.html
Star Asia Official Channel:https://www.youtube.com/@user-wf8jo1ct6p

[Provision of services suitable for the customer]

With respect to provision of services suitable to customers, efforts are made to understand the information required by investors through IR activities and taking surveys at the information meetings held for individual investors, and the necessary information that suits the attributes of investors is provided in a comprehensible manner.

<Star Asia Investment Corporation>
Financial results related materials:https://starasia-reit.com/en/ir/library.html
Press releases:https://starasia-reit.com/en/ir/index.html

FY 2021 FY 2022
Explanatory meetings for analysts and institutional investors 7 times 7 times
Explanatory meetings for individual investors. 3 time 2 times
IR Event 4 times 3 times
Number of contacts with investors (including phone calls) 122 times 102 times

[Framework for appropriately motivating employees, etc.]

The Company will conduct advanced employee training etc. by inviting outside experts in order to promote behavior to pursue the best interests of unitholders, fair treatment of unitholders, and appropriate management of conflicts of interests, and will conduct study sessions at each department as necessary, and ensure observance of fiduciary duties.

Number of company-wide employee training sessions held

FY 2021 FY 2022
Number of company-wide employee training sessions held 9 times 9 times

The Company also recommends its employees to acquire the qualification called “Certified Master of Real Estate Securitization” sponsored by the Association for Real Estate Securitization (ARES) in order to enhance the specialist skills of employees.

The number of qualification holders and percentage of holders

As of Jan. 31, 2022 As of Jan. 31, 2022/th>
Number of holders % of holders Number of holders % of holders
Certified Masters of the Association for
Real Estate Securitization
5 25% 5 25%
Certified Public Accountants 1 5% 1 5%
Real Estate Transaction Agent
(including those who have passed
the real estate broker (taken) exam)
12 60% 12 60%

Company Overview

Company name Star Asia Investment Management Co., Ltd.
Address Atago Green Hills Mori Tower 18F, 2-5-1, Atago, Minato-ku, Tokyo
Officers Atsushi Kato, President and CEO
Toru Sugihara, Vice President
Akiko Kanno, CFO
Daisuke Kobayashi, CIO
Yusuke Aoki, Director
Keiko Sakurai, Auditor
Hiroshi Koga, CCO (Chief Compliance Officer)
Established June 22, 2015
Shareholder Star Asia Asset Management, LLC
Paid-in capital 100 million yen (as of June 30, 2015)
Settlement date December 31
Approval and license Licensed for building lots and buildings transaction business: License No. (2) 98168 issued by the Governor of Tokyo
Certified as entrustment-based agency: License No. 95 issued by the Minister of Land, Infrastructure, Transportation and Tourism
Registered for a financial instruments business: Registration No. 2874 issued by the Director-General of the Kanto Finance Bureau (Kinsho)

Organization Chart

Organization Chart

Access

Address Atago Green Hills Mori Tower 18F, 2-5-1, Atago, Minato-ku, Tokyo 105-6218
Phone +81-3-5425-1340
Access A four-minute walk from Kamiyacho Station on the Tokyo Metro Hibiya Line (Exit No. 3, walk toward Onarimon Station (along a gentle downward slope))
A three-minute walk from Onarimon Station on the Toei Subway Mita Line (Exit No. A5, walk toward Kamiyacho)

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