Comforia Residential Investment Corporation (hereinafter referred to as the "Investment Corporation") was established on June 8, 2010 as an investment corporation that invests primarily in real estate used for residential purposes under the Act on Investment Trusts and Investment Corporations (Act No. 198 of 1951, as amended; hereinafter referred to as the "Investment Trust Act"). It was registered with the Minister of the Cabinet Secretariat under Article 187 of the Investment Trust Act on June 30, 2010 (Registration Number: Kanto Local Finance Bureau Director-General No. 71) and began operations in August 2010. Thereafter, Comforia Residential Investment Corporation issued new investment units through a public offering on February 6, 2013, and was listed on the Tokyo Stock Exchange, Inc. (hereinafter referred to as the "Tokyo Stock Exchange") Real Estate Investment Trust Securities Market (Stock Code: 3282). At the start of operations, the Investment Corporation had 11 managed assets with a total acquisition price of 15,508 million yen. However, since then, in accordance with the basic policy of asset management set out in the Investment Corporation's articles of incorporation (which is to manage assets with the aim of maximizing unitholder value, securing stable earnings and steadily growing managed assets from a medium- to long-term perspective), the Investment Corporation has acquired and sold additional properties, resulting in the Investment Corporation's assets held as of the end of the fiscal period under review (hereinafter referred to as the "Acquired Assets") being 170 properties with a total acquisition price of 327,164 million yen.