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To Our Unitholders

I would like to express our sincere gratitude for your continued and loyal patronage.
Ever since being listed on the Tokyo Stock Exchange's real estate investment trust market (J-REIT market) on July 28, 2005, the Investment Corporation has achieved steady development under the basic management policy of "stable earnings in the medium- to long-term through steady growth of assets under management."
Going forward, we will adhere to the basic policy and, with the understanding that our social mission is to provide housing, which is a foundation of living, through the functioning as a J-REIT, aim to become a leading residential REIT by utilizing the comprehensive strengths of rental residential properties of Sekisui House Group with Sekisui House, our sponsor, serves as the core company.
To continually realize the goal of "maximizing unitholder value of the Investment Corporation," we, together with the Asset Management Company, will strive to meet the expectations and live up to the trust of our unitholders. We appreciate your continuing support and patronage.

Osamu Minami
Executive Director

Sekisui House Residential
Investment Corporation

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