Unitholders' capital

Changes in Unitholder’s Capital

Date	Event	Total Number of Units Issued and Outstanding		Unitholder’s Capital (million of yen)		Remarks
		Change	Amount	Change	Amount
September 14, 2001	Established by private placement	240	240	120	120	(Note 2)
November 16, 2001	Additional private placement	62,000	62,240	31,000	31,120	(Note 3)
January 22, 2002	Split of investment units	93,360	155,600	-	31,120	(Note 4)
June 14, 2002	Initial public offering	134,000	289,600	25,862	56,982	(Note 5)
July 15, 2003	Additional public offering	134,400	424,000	30,758	87,740	(Note 6)
August 9, 2003	Third-party allotment	6,000	430,000	1,373	89,113	(Note 7)
February 1, 2005	Additional public offering	95,000	525,000	25,001	114,115	(Note 8)
March 1, 2005	Third-party allotment	5,000	530,000	1,315	115,431	(Note 9)
February 6, 2007	Additional public offering	90,000	620,000	39,120	154,552	(Note 10)
March 7, 2007	Third-party allotment	5,000	625,000	2,173	156,725	(Note 11)
February 8, 2010	Additional public offering	82,000	707,000	13,315	170,040	(Note 12)
March 12, 2010	Third-party allotment	8,000	715,000	1,299	171,339	(Note 13)
July 30, 2012	Additional public offering	101,420	816,420	19,089	190,429	(Note 14)
August 29, 2012	Third-party allotment	8,580	825,000	1,614	192,044	(Note 15)
June 16, 2015	Additional public offering	45,700	870,700	17,472	209,516	(Note 16)
June 24, 2015	Third-party allotment	2,300	873,000	879	210,395	(Note 17)
January 24, 2017	Additional public offering	47,600	920,600	20,237	230,632	(Note 18)
February 14, 2017	Third-party allotment	2,400	923,000	1,020	231,653	(Note 19)
March 3, 2020	Additional public offering	35,250	958,250	16,207	247,860	(Note 20)
January 18, 2022	Additional public offering	38,100	996,350	13,594	261,454	(Note 21)
February 16, 2022	Third-party allotment	828	997,178	295	261,749	(Note 22)

• Unitholders’ capital is indicated by the millions, and is rounded down to the nearest million yen.
• JPR was formed by the investment of three companies Tokyo Tatemono Co., Ltd. (100 units), Taisei Corporation (100 units) and Tokyo Realty Investment Management, Inc. (40 units) at 500,000 yen per unit.
• An additional offering was made via private placement at 500,000 yen per unit. JPR then acquired 13 beneficiary interests in real estate trust and started management.
• A single investment unit was split into 2.5 units.
• New investment units were issued through a public offering at 200,000 yen per unit (underwriting price of 193,000 yen per unit) to repay short-term debt, finance the acquisition of new specific assets, etc.
• New investment units were issued through a public offering at 237,160 yen per unit (underwriting price of 228,859 yen per unit) to repay short-term debt, acquire new specific assets, etc.
• New investment units were issued through a third-party allotment at 228,859 yen per unit to repay short-term debt, acquire new specific assets, etc.
• New investment units were issued through a public offering at 272,440 yen per unit (underwriting price of 263,177 yen per unit) to repay short-term debt, acquire new specific assets, etc.
• New investment units were issued through a third-party allotment at 263,177 yen per unit to repay short-term debt, acquire new specific assets, etc.
• New investment units were issued through a public offering at 449,820 yen per unit (underwriting price of 434,673 yen per unit) to repay debt, acquire new specific assets, etc.
• New investment units were issued through a third-party allotment at 434,673 yen per unit to repay debt, acquire new specific assets, etc.
• New investment units were issued through a public offering at 168,101 yen per unit (underwriting price of 162,382 yen per unit) to repay short-term debt, redeem investment corporation bonds, acquire new specific assets, etc.
• New investment units were issued through a third-party allotment at 162,382 yen per unit to repay short-term debt, redeem investment corporation bonds, acquire new specific assets, etc.
• New investment units were issued through a public offering at 194,610 yen per unit (underwriting price of 188,222 yen per unit) to partly fund acquisition of new specific assets and repay debts.
• New investment units were issued through a third-party allotment at 188,222 yen per unit to partly fund acquisition of new specific assets and repay debts.
• New investment units were issued through a public offering at 394,875 yen per unit (underwriting price of 382,320 yen per unit) to repay debts.
• New investment units were issued through a third-party allotment at 382,320 yen per unit to repay debts.
• New investment units were issued through a public offering at 439,040 yen per unit (underwriting price of 425,152 yen per unit) to partly fund acquisition of new specific assets and repay debts.
• New investment units were issued through a third-party allotment at 425,152 yen per unit to partly fund acquisition of new specific assets and repay debts.
• New investment units were issued through a public offering at 474,810 yen per unit (underwriting price of 459,790 yen per unit) to fund acquisition of new specific assets and partly repay debts.
• New investment units were issued through a public offering at 368,480 yen per unit (underwriting price of 356,824 yen per unit) to fund acquisition of new specific assets and partly repay debts.
• New investment units were issued through a third-party allotment at 356,824 yen per unit to partly repay debts.

Major Unitholders

Breakdown of Unitholders