Seibu : July. 11, 2023 IR Meeting on Real Estate Business Handouts with commentary

Seibu Group Real Estate Business

Future Business Strategy

July 11,2023 Seibu Realty Solutions Inc. President and Representative Director SAITO Tomohide Seibu Holdings Inc. General Manager, Business Strategy Department III, Corporate Planning Department TAKEKAWA Toshihito

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Work Experience

Introduction

Seibu Realty Solutions Inc.

President and Representative Director

SAITO Tomohide

1990 The Sumitomo Trust and Banking Company, Limited

After experience in foreign exchange business, moved to Development Business Department

• Revision and restoration work for development projects planned in the late 80's.
• Converted an office building project with excessive borrowings into compartmentalized ownership and sold two floors to a foreign investor to normalize it.
• Reviewed a suburban complex development land trust project and sold it to the public sector. Acquired the head office building through expropriation replacement.
• Proposals for effective corporate use: attracted a GMS store on a vacant grounds site, attracted a food factory on a former golf driving range site, etc.

1998 Nippon Life Insurance Company

Engaged in the operation of hotels and large-scale commercial facilities.

• Sold Nihonbashi Takashimaya (Nippon Life Tokyo Bldg.) to Takashimaya.

２０００ ORIX Corporation

Moved to the J-REIT listing team of the Finance Headquarters of ORIX Real Estate

• Acquisitions
• Development of logistics facilities after completion of J-REIT preparations

2003 The Sumitomo Trust and Banking Company, Limited

J-REIT listing support

2005 Showajisyo Inc.

Securitization of about 60 billion yen (TK-YK scheme)

2007 Seibu Holdings Inc.

Initially engaged in redevelopment of the Grand Prince Hotel Akasaka, etc.

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Contents

1. Overview of Real Estate Business
2. Progress of Initiatives in the Medium-term Management Plan
3. Seibu Group's Real Estate Business Strategy

（１） Large-scale redevelopment projects

（２） Transition to an asset-light real estate business utilizing capital recycling business

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1. Overview of Real Estate Business

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Overview of Real Estate Business

Operating revenue	Leasing space
the Fiscal year ending March 31, 2023	As of March 31, 2023
74.8 billions of yen	４４７ in thousands of square meters

	billions of yen
80				COMPLEX
74.8
			FACILITY
75				◼ Tokyo Garden
70
			Terrace Kioicho
65
60
			OFFICE
55				◼ office
50
44.9			6 locations
45
40				RENTAL RESIDENTIAL
			PROPERTIES
35				◼ Emilive
30
March 31,2011 March 31,2023		6 locations
		◼ Others
	Operating revenue		4 locations

COMMERCIAL

RETAIL FACILITIES

• Karuizawa Prince Shopping Plaza
• SC（station buildings） PePe 5 locations
• BIGBOX 1 locations
• inside stations
  Grand Emio 2 locations Emio 17 locations

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• Operating revenue is 74.8 billion yen. Total leasing space is 447,000 square meters.
• Since 2010, we have engaged in the development and management of real estate with a focus on leasing. The results of this approach are best represented in properties such as Karuizawa Prince Shopping Plaza, Tokyo Garden Terrace Kioicho, and DaiyaGate Ikebukuro. We also operate the emilive series of high quality rental apartments located alongside Seibu Railway lines, which aim to support the lifestyles of hardworking dual income households.
• As the hotel industry is highly volatile, when we redeveloped Grand Prince Hotel Akasaka, we decided that it was better to raise the ratio of rental facility assets in our portfolio, as they can expect stable revenue. Tokyo Garden Terrace Kioicho was built based on this concept. It is one of the two biggest sources of revenue for our leasing units, together with Karuizawa Prince Shopping Plaza.

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