Investor Presentaiton

Nippon Accommodations Tokyo: Trends in Population and Number of Households Acce Tokyo's population and number of households are increasing ■ Population Projections for Japan, Tokyo, and Tokyo 23 Wards ■ Household Projections for Tokyo by Type of Household (Million people) (Million people) (Thousand households) 160 40 8,000 7,054 7,107 7,097 6,922 7,019 140 35 7,000 127.77 128.06 6,691 275 268 261 255 289 127.10 125.33 314 122.54 580 597 605 603 549 119.13 115.22 506 120 30 6,000 110.92 100 80 1,611 1,593 1,557 1,606 1,517 25 5,000 1,568 20 4,000 1,188 1,220 1,244 1,261 1,271 1,139 60 60 13.73 13.52 13.85 13.85 13.88 13.76 13.16 15 3,000 12.58 40 40 10 2,000 8.95 9.27 9.49 9.63 9.72 9.76 9.77 3,165 3,290 3,367 3,406 3,412 3,374 8.49 20 20 5 1,000 0 0 0 2005 2010 2015 2020 2025 2030 2035 2040 2015 2020 2025 2030 2035 2040 One-person households Couple-only households Japan (Left Axis) Tokyo (Right Axis) Tokyo 23 Wards (Right Axis) One-parent-and-child(ren) households Source: Ministry of Internal Affairs and Communications, National Institute of Population and Social Security Research Couple-and-child(ren) households Other households Source: National Institute of Population and Social Security Research 55

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