Investor Presentaiton

Office market data 2 (Tokyo 23 districts) 54 54 Supply and demand of Tokyo (tsubo) 350,000 300,000 250,000 200,000 150,000 100,000 50,000 New supply New demand 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 (E) (E) 2019 2020 2021 2022 (E) (E) (E) Source: Prepared by the Asset Manager based on the data obtained from CBRE K.K. MCUBS MidCity Investment Corporation

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