ADR targets investment primarily into the following real estate, etc. and securities backed by real estate (Articles of Incorporation Attachment 1 "Target and Policy of Asset Management: Target of Asset Management").
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Real estate, etc. |
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- Real estate
- Leasehold rights to real estate
- Surface rights
- Beneficiary interests in trust that places leasehold rights to real estate and land and surface rights in trust (including comprehensive agreements in which these are placed in trust along with monies incidental to real estate, but excluding those categorized as marketable securities (refers to those specified in Article 3(1) of the Enforcement Order of the Investment Trusts and Investment Corporations Law (hereafter, the "ITL"))
- Beneficiary interests in a money trust intended for managing trust properties as investments principally into real estate, leasehold rights to real estate and surface rights (excluding those categorized as marketable securities)
- Interests in equity investments associated with agreements under which one party to the agreement is to make equity investments for the purpose of management of the assets given in a. to e. above that are to be performed by the other party to the agreement, and such other party to the agreement is to manage the properties of such equity investments as investments principally into such assets, and the profits that generate from such management are distributed (hereafter, the "tokumei kumiai (silent partnership) equity interests for real estate")
- Beneficiary interests in a money trust intended for managing trust properties as investments principally into tokumei kumiai (silent partnership) equity interests for real estate (excluding those categorized as marketable securities)
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| (2) |
Securities backed by real estate (refers to the following that are intended for investing into real estate, etc. an amount exceeding one-half of the assets backing such; the same hereafter) |
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- Preferred equity securities (refers to the preferred equity securities set forth in Article 2-9 of the Law on Securitization of Assets (Law No. 105 of 1998; including amendments thereto; hereafter, the "Asset Securitization Law"))
- Beneficiary securities (refers to the beneficiary securities set forth in Article 2-12 of the ITL)
- Investment securities (refers to the beneficiary securities set forth in Article 2-22 of the ITL)
- Beneficiary securities of tokutei mokuteki shintaku (specified purpose trust) (beneficiary securities of tokutei mokuteki shintaku set forth in Article 2-15 of the Asset Securitization Law (excluding those categorized as assets stipulated in (1) d., e. and g. above))
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| (3) |
Aside from the real estate, etc. and securities backed by real estate listed in (1) and (2) above, ADR is open to investment into the following specified assets. |
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- Deposits
- Call loans
- Negotiable certificates of deposit
- Marketable securities (refers to those defined in Article 2-5 of the ITL) (excluding, however, the specified assets given in (2) a. to d. above)
- Monetary claims (refers to those specified in Article 3(11) of the Enforcement Order of the ITL)
- Beneficiary interests in a money trust intended for managing trust properties as investments into the assets given in a. to e. above (excluding those categorized as marketable securities)
- Rights associated with financial derivatives transactions (refers to those specified in Article 3(14) of the Enforcement Order of the ITL)
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| (4) |
ADR is open to investment into the following assets as needs arise upon investment into real estate, etc. |
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- Trademark rights or corresponding exclusive rights to use or non-exclusive rights to use stipulated in the Trademark Law (Law No. 127 of 1959; including amendments thereto) (limited to those incidental to investments into real estate, etc.)
- Shares (limited to shares to be acquired incidental to investments into specified assets that are the primary investment targets of ADR and the shares belong to the management company, etc. for the concerned real estate)
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