It is our sincere hope that this message finds all our unitholders well and prosperous.

　ESCON JAPAN REIT Investment Corporation (hereinafter,”ESCON REIT”) has completed its 17th fiscal period (February 1, 2025 to July 31, 2025). The distribution per unit exceeded both the results of the previous period and our initial forecast, reaching 3,886 yen.

　We increased dividends as we recorded temporary revenue from the withdrawal of a tenant and made steady efforts to improve profitability, including the addition of the increase in fixed asset taxes to the rents for leasehold lands as part of our initiatives aimed at internal growth. The acquisition of the “Kohnan tonarie Yamatotakada (leasehold land)” as part of external growth also steadily contributed to the increase in revenue.
　In addition to these daily efforts to manage assets, we actively surveyed facility user satisfaction from a perspective of medium- to long-term asset value enhancement, leveraging the survey results to renew the facilities and enhance service. By doing so, we focused on operating facilities as lifestyle-focused assets so that our facilities will continue to be loved and selected by local communities.
　The J-REIT market is also showing signs of recovery. Seizing this opportunity, we will further deepen the internal growth strategy, our existing strategy, and place greater emphasis on external growth as well, which we expect to contribute to improvement in quality of the portfolio.

　Going forward, ESCON REIT will aim to achieve steady growth in assets under management and the maximization of unitholder value through fair and appropriate operations, with the cooperation of its sponsor, ES-CON JAPAN Ltd, and its support company, Chubu Electric Power Co., Inc. and Chuden Real Estate Co., Inc., as well as by maximizing the unique network of its ES-CON ASSET MANAGEMENT Ltd.

　We would appreciate the continued support and encouragement from our unitholders and other stakeholders.