United Urban Investment Corporation

Securities Code
8960

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Investment Policies - Type of Use

United Urban pursues properties as investment targets based on the following investment standards for respective property types.

Retail Properties Location Tokyo Metropolitan Area and other major cities in Japan including government designated cities, and surrounding areas thereof.
Point of Analyses Analyses on such factors as the potentiality and growth prospects of the relative commercial spheres, its conformity with the tenants' business types, competition status within the commercial spheres and possibility of competitors' emergence shall be made. Based on these analyses, comprehensive considerations shall be given to respective investment targets concerning the properties' locality due to the characteristics of their location, the scales of the commercial spheres, typical scale of respective business types, content of lease agreements with respective tenants, readiness to secure replacing tenants, future prospects of the areas and other factors.
Office Buildings Location Tokyo Metropolitan Area and other major cities in Japan including government designated cities.
Properties in other major cities in Japan other than the Tokyo Metropolitan Area and government designated cities shall be limited to those with adequate competitive edges within the cities.
Point of Analyses The specifications of the buildings, including interior and exterior fittings, ceiling height and facilities (such as electric power, air-conditioning method, number of communications lines and security) shall have enough competitiveness with other buildings of subject business areas. In addition, broad and deep considerations shall be given to respective investment targets concerning the properties' in conformity with their areas' characteristics, readiness to secure replacing tenants, future prospects of the areas and other factors.
Hotels Location Tokyo Metropolitan Area and other major cities in Japan including government designated cities.
Lease Contract In principle, hotel operations shall be conducted in the lease scheme (direct leasing scheme).
Scale Appropriate scales are to be determined according to the individual characteristics of location, function or business type of each hotel, with considerations given to the future prospects of the area.
Category The type of hotels to be invested in is not limited.
Other Comprehensive considerations shall be given to the characteristics of the location and the market trends (commercial spheres, competition status, purposes of stay, types of stay, number of guests, room charges, occupancy ratio, etc), the operators' performance, credit status including financial settlement, rent levels, lease period, the amount of lease deposit, conditions for cancellation, possible availability of replacing tenants and other factors.
Residential Properties Location Tokyo Metropolitan Area and other major cities in Japan including government designated cities, and surrounding areas thereof.
Other The investment shall be made considering building grades, facilities, rent levels, earnings stability and other factors.
Other Others include call centers, data centers, training facilities, logistic facilities, factories, research and development centers, telecommunication facilities, infrastructure facilities, health-care facilities, etc. No specific limitations shall be posed on location or scale, as properties in this category have a variety of types of uses. However, investment shall be conducted with comprehensive considerations on the individual characteristics of the location, readiness to secure replacement tenants, availability of facilities for general purposes and other factors for individual target properties.

When the Target Properties Have Multiple Uses

The proportion of each type of use in the entire portfolio shall be calculated based on the following standards.

A.   When the acquisition price of the target property is 5 billion yen or less, the entire property shall be classified as the property type for which the largest portion of its leasable floor spaces is used.

MZ Building Ex.1)

C3MZ Building

Acquisition Price : ¥ 3,800 million
Type of Use : Hotels
(Use: Hotel, Retail Property, and etc.)
MA Sendai Building Ex.2)

D18MA Sendai Building

Acquisition Price : ¥ 3,440 million
Type of Use : Residential Properties
(Use: Residential Property, Office, and etc.)

B.   When the acquisition price of the target property is over 5 billion yen, its property type shall be classified by allocating the appraisal value in accordance with the proportions of the property's leasable floor spaces for each respective type of use. However, in terms of the type of use for which the leasable floor space occupies 35% or less of the entire property, it is allocated to the type of use that occupies the largest portion of the leasable floor space.

Shin-Osaka Central Tower Ex.)

B6Shin-Osaka Central Tower

Acquisition Price : ¥ 24,000 million
Type of Use : Office Buildings/Hotels
(Use: Office, Hotel,
Retail Property,
and etc.)

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