Fuyo General Lease : 『Grand Nikko Bangkok Sathorn』To Open in 2025

PRESS RELEASE

February 18, 2022

Nishimatsu Construction Co., Ltd.

Fuyo General Lease Co., Ltd.

Okura Nikko Hotel Management Co., Ltd.

『Grand Nikko Bangkok Sathorn』

To Open in 2025

Nishimatsu Construction undertakes first large-scale hotel development project

The fifth Okura Nikko Hotels property to be inaugurated Thailand

Nishimatsu Construction Co., Ltd. (Headquarters: Minato-ku, Tokyo; Representative Director and President Nobutoshi Takase; hereinafter"Nishimatsu Construction"), Fuyo General Lease Co., Ltd. (Headquarters: Chiyoda-ku, Tokyo; President & CEO Yasunori Tsujita; hereinafter"Fuyo Lease"), and Okura Nikko Hotel Management Co., Ltd. (Headquarters: Minato-ku, Tokyo; CEO: Toshiro Ogita; hereinafter "Okura Nikko Hotel Management"), a subsidiary of Hotel Okura Co., Ltd. and hotel operating company, plan to open the ''Grand Nikko Bangkok Sathorn'' in Bangkok, the capital of the Kingdom of Thailand (hereinafter "Thailand") in 2025.

Rendition of Grand Nikko Bangkok Sathorn

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In promoting this project, a hotel management company in Thailand, Bangkok Sathorn Hotel Management Co., Ltd. invested by Nishimatsu Construction, Fuyo Lease and Japan Overseas Infrastructure Investment Corporation for Transport & Urban Development (Headquarters: Chiyoda-ku, Tokyo; President & CEO: Tatsuhiko, Takesada; hereinafter "JOIN"), and Okura Nikko Hotel Management have signed an operation and management agreement regarding "Grand Nikko Bangkok Sathorn" on January 31, 2022．

Nishimatsu Construction is transforming itself into a "the company with overall capabilities that provides new value" in order to respond to changing needs by implementing the "contribute to establish a sustainable society and environment for people to live with peaceful mind." In the overseas real estate development business, the company is promoting business development in the growing Asian market. This project will create a high quality living space by realizing outstanding hospitality with sophisticated Japanese service quality through the collaboration of all Japanese companies. The design and construction of the project will be carried out by the subsidiary, Thai Nishimatsu Construction Co., Ltd. Since entering Thailand in 1963, Nishimatsu has developed a wealth of experience in this field.

The vision of Hotel Okura Group is to establish itself in Asia as a top quality hotel group originating from Japan, and as its basic strategy for overseas business development, the company is promoting "5x5 Plan" under which it aims to open five hotels in each of five specific countries and regions. This will be the fifth hotel and the first Grand Nikko-branded hotel to open in Thailand.

The goals of the three companies to aggressively expand their overseas business operations coincided, leading to the signing of this agreement. This project was also supported by the participation of JOIN, which supports overseas transportation and urban development projects by Japanese companies.

As a facility that can contribute to the enhancement of urban function, this hotel will play a role in contributing to the local community by building rainwater tanks to reduce flood damage during torrential rains, setting up a stockpile warehouse for essential items, and the use of the facility as an evacuation center for Bangkok, a city that frequently suffers from flooding and other damage. This project is expected to be able to work more smoothly with local government agencies with the help of JOIN. The facility will be made environmentally friendly through greening it.

The Sathorn district, where the Grand Nikko Bangkok Sathorn is located, is a cosmopolitan area that, along with the adjacent Silom, is lined with office buildings and embassies of leading domestic and foreign companies. This area functions as the financial center of the capital and is home to the headquarters of financial institutions such as banks, securities and insurance companies, audit firms, and law firms.

As one of the most premier areas in Bangkok, with its many embassies and foreign companies, it is also an area where guests can enjoy metropolitan and sophisticated entertainment, with

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restaurants featuring world-famous and up-and-coming chefs. Although it is a business district, there is also a lush green area represented by Lumpini Park, and the area around Sathorn Road and the BTS (Skytrain) station is home to luxury condominiums and serviced apartments, making it ideal for living a metropolitan lifestyle.

Wide area map

Narrow area map

"The Grand Nikko Bangkok Sathorn" is conveniently located on the major thoroughfare, Sathorn Road, a 40-minute drive from Suvarnabhumi International Airport and a 5-minute walk from Chong Nonsi Station on the BTS Silom Line. Based on the concept of "comfort that unleashes the five senses in a high-quality environment", the Grand Nikko, incorporating the luxury brand of Nikko Hotels International, promises guests a relaxing stay in a space offering a complete sense of freedom.

The standard room area is about 40m2 and the total number of guest rooms will be 405, including 13 suite rooms, of which 36 guest rooms designed for longer stays. Dining options will include all-day dining, Japanese cuisine, and teppanyaki restaurant, as well as there will be a rooftop bar with a panoramic view of Bangkok's night skyline.

The hotel will also offer executive lounge, fitness center, spa and banquet facilities to support both leisure and business guests.

Rendition of Guest Room in the Grand Nikko Bangkok Sathorn

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Overview of the Grand Nikko Bangkok Sathorn

Address： 117 South Sathorn Road, Thungmahamek, Sathorn, Bangkok

Total floor space： Approximately 51,000m2

Floor count： 35 floors above ground (including rooftop structure), 1 flood underground

Guest room count： 405（369 regular guest rooms and 36long-stay rooms）

Restaurants： All-day dining facility, Japanese restaurant, teppanyaki restaurant, Rooftop bar

Banquet halls： 2 banquet halls, 6 meeting rooms

Ancillary services： Executive lounge, fitness room, spa, indoor pool Access: 40 minute drive from Suvarnabhumi International Airport, 5 minutes walk from Chong Nonsi Station on BTS Silom Line.

Schedule: Construction to begin in 2022, opening in 2025 (planned)

Nishimatsu Construction		JOIN		Fuyo Lease
100% Subsidiary		Investment		Investment

Nishimatsu Real Estate &

Development（Asia）Pte.Ltd.

Investment

Bangkok Sathorn Hotel Management Co., Ltd.（Local hotel management company）

Hotel management outsourcing	Design and construction
		Thai Nishimatsu Construction Co., Ltd.
Okura Nikko Hotel Management

＜About Nishimatsu Construction Co., Ltd.＞

The strength of Nishimatsu Construction lies in the high level of technological competence it has developed over the course of more than 140 years of history and tradition stretching back to when the company was founded in 1874. Building on this strength, we make a broad contribution to creating a safe and secure social infrastructure and comfortable environment through the construction of public facilities such as roads and dams, urban redevelopment, and other projects. Our spirit of construction, which has been nurtured through our long history, continues to live on today.

In the property development and real estate fields, the company actively develops, operates and invests in housing, offices and other commercial facilities, including business development projects such as redevelopment and land readjustment projects in central urban areas all over Japan. In recent years, it has engaged additionally in overseas real estate projects.

Nishimatsu will continue contributing to efforts to realize a society and an environment that are sustainable and that provide people with peace of mind, by providing valuable structures and services to the public.

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＜About Fuyo General Lease Co., Ltd.＞

Fuyo General Lease Co., Ltd. practices the concept of Creating Shared Value, aiming to contribute to the development of society and enhance corporate value by addressing social issues through our business activities, and we work to create a sustainable society. The Fuyo Lease Group has positioned 'overseas markets' and 'real estate' as strategic areas, based on our Frontier Expansion 2021 medium-term management plan. This is the first time for us to participate in the hotel business overseas, and we will use this initiative as an opportunity to expand our business domain there under the corporate slogan "Go Where No One Has Gone Before".

＜About Hotel Okura Co., Ltd. & Okura Nikko Hotel Management Co., Ltd.＞

Hotel Okura Co., Ltd., founded in 1958, opened its flagship Hotel Okura Tokyo in 1962 as a first- class hotel that quickly became renowned worldwide for its blending of traditional Japanese beauty with the very best in accommodation, cuisine and service. It closed its doors in August 2015, and after four years of rebuilding work reopened as The Okura Tokyo in September 2019.

Hotel Okura has extensive expertise in the hospitality world, including asset ownership and hotel development, as well as hotel management, the restaurant business and chain operations through its subsidiaries and other group companies. The brand unites member hotels under its "Best Accommodation, Cuisine and Service" philosophy to ensure that all guests enjoy Okura's signature hospitality, which combines Japanese attention to detail and Western functionality. Please visit www.okura.com.

Okura Nikko Hotel Management Co., Ltd., a subsidiary of Hotel Okura, operates 79 properties (53 in Japan and 26 overseas) encompassing some 24,273 guest rooms (as of February 1, 2022) under three hotel groups: Okura Hotels & Resorts, Nikko Hotels International and Hotel JAL City. Please visit www.okura-nikko.com.

Media Contacts

Fuyo General Lease Co., Ltd.	Public Relations: Ms. Kimura or Mr. Yamazakai
Kojimachi Garden Tower 5-1-1 Kojimachi, Chiyoda-ku,Tokyo102-0083
TEL:[phone]	E-mail:[e-mail]

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