Frontier Real Estate Investment Corporation decided at the Board of Directors meeting held on March 15, 2018 to propose replacement of director as an agenda item for resolution at the general meeting of shareholders to be held. The company will propose the appointment of Masahiko Okamoto as director of the company, effective April 1, 2018. The company will also propose the resignation of Hiromu Yamanaka as director of the company, effective March 31, 2018.