Financial Results Presentation for the 15th Fiscal Period Ended May 2019 - July 2019

	Financial Results Presentation for the 15th Fiscal Period Ended May 2019 - July 2019
	index
	1.Growth Strategy：Management Highlights and Future Growth Strategy
	2. Financial highlights and Forecasts：Statement of Income ~the 15th Period Ended May 2019~
	3. Change in Management Fee Structure
	4. Internal Growth, External Growth, and Financial Strategies ~Management of Tokyo Office Properties 1~
	5. ESG and others：Establishment of Sustainability Policy Identification of Materiality Efforts for ESG ~Governance~ Efforts for ESG ~Environment~ Efforts for ESG ~Social~ Distribution of Unitholders
	Disclaimer

This page shows our efforts for ESG.

Regarding governance shown in bottom 1, as explained earlier, we consider increasing a ratio of type-Ⅱ fee will enhance governance structure.

Please see the graph on the upper right.

Tokyu Land Corporation, the Sponsor of API, have additionally obtained approximately 10,000 units through the last PO, etc. and currently holds 9.5%, which is a relatively high ratio among J-REITs sponsored by real estate developers.

This figure represents the commitment from Sponsor to API and from governance perspective, API believes it is important to enhance the same-boat structure.

Please move on to the next page.