Tosei : Notice Regarding Acquisition of a Non-current Asset

Note: This English document has been translated from the Japanese original for reference purposes only. In the event of any discrepancy between this translation and the Japanese original, the Japanese original shall prevail.

Tosei Corporation assumes no responsibility for this translation or for direct, indirect or any other forms of damages arising from the translation.

[Translation]

August 17, 2020

To whom it may concern

Tosei Corporation Toranomon Tosei Building, 4-2-3 Toranomon, Minato-ku, Tokyo President and CEO: Seiichiro Yamaguchi

Securities code: 8923 (Tokyo Stock Exchange, First Section) S2D (Singapore Exchange, Mainboard)

Contact: Director and CFO: Noboru Hirano TEL: [phone]

Notice Regarding Acquisition of a Non-current Asset

Tosei Corporation (the "Company") hereby announces that it decided at a meeting of its Board of Directors held today to acquire a non-current asset as outlined below.

1. Reason for acquisition
   This large size asset is located in very convenient area, 5-minute walk from Hatchobori station (JR Keiyo line and Tokyo Metro line). The Company acquired this asset as part of the effort to enhance business earnings and profits and continue to promote purchases of superior properties.
2. Details of assets (Real estate trust beneficiary right) to be acquired

	Name	NBF Shinkawa Building (East Building, Maison New River)
	Location	2 Shinkawa Chuo-ku, Tokyo
	Type	Office, residence and car park
	Site Area	2,775.23 m2 (839.50 tsubo) (as registered)
	Total Floor Area	17,586.10 m2 (5,319.79 tsubo) (as registered)
	Acquisition Price	11.9 billion yen
3. Summary of seller of the asset
	Name	Nippon Building Fund Inc.
	Address of head office	3-1, Nihonbashi Muromachi 2-chome,Chuo-ku, Tokyo
	Representative	Executive Director Koichi Nishiyama
	Relationship with the seller	The Company has no capital, personnel or trade relationship to be stated
	with the seller.
4. Timeframe of acquisition
	Contract date	August 17, 2020
	Transfer date (scheduled)	50% co-ownership (trust beneficiary right)：December 25, 2020
	50% co-ownership (trust beneficiary right)：March 31, 2021

5. Impact on earnings forecasts

The impact of this asset acquisition is minor to the financial forecast for the fiscal year ending November 30, 2020 announced on July 6, 2020.

End