MIRAI : (Delayed) Presentation Material for the Fiscal Period Ended October 31, 2021 (11th Fiscal Period)

AM Company: Mitsui Bussan & IDERA Partners Co., Ltd.	MIRAI Corporation 11th Fiscal Period Investor Presentation
Security Code: 3476 https://3476.jp/en	Fiscal Period Ended October 31, 2021 (11th FP) May 1, 2021 to October 31, 2021

	Executive Summary			1
		External Growth		Portfolio Management		ESG
	External growth centered on		"MIRAI Revitalization Plan"		GRESB Real Estate
		BizMiiX Yodoyabashi		★★/Green Star
	"defensive" assets through
		Pre-sign up rate: over 60%
		first PO in two years		Mi-Nara 65 M yen per month in sight
	Total acquisition price		Post-COVID-19 Key Initiatives		Green Finance
		10,650 M yen
				Green loan 4,000 M yen
			Tokyo Front Terrace
	AUM	164,554 M yen
		Under preview/consideration		Green bond 1,200 M yen
				7 companies/2,162 sqm

Continue to "visualize" the growth strategy

Growth Strategies in Post-COVID-19

1. Improve defensiveness of the portfolio
2. Expansion of AUM in anticipation of reopening

Announcement of the results for the 12th FP

Considering the release of

a new mid-term management plan

DPU

DPU growth (PO & new acquisition)

Forecast for 13th FP (October 2022) 1,285 yen

(Growth of stabilized DPU +2.2%)

Current target DPU

Aim for recovery to 1,400 yen level

(under review)

1

Table of Contents		2
Section 1. 4th Public Offering (December 2021)	・・・・・	P3
Section 2.	Strategy of Future Growth	・・・・・	P9
Section 3.	Portfolio Management Status	・・・・・ P14
Section 4. Financial Summary & Performance	・・・・・ P25
Section 5.	Finance & ESG Initiatives	・・・・・ P31

2

Section 1.

4th Public Offering (December 2021)

4th Public Offering (December 2021)
Investment Highlights	4

Growth

Focus on

maintaining

and

improving

unitholder

value

1 Growth Return to external growth

• Return to the AUM expansion phase with the first PO since the onset of COVID-19 crisis with the acquisition of 4properties/10.6 billion yen
• Inclusion in the global index expected to further improve liquidity and expand investor base

• 1. Stability Improve defensiveness of the portfolio​
• Improvement of defensiveness through implementation of continuous replacement strategy and the acquisition of properties through PO
• Progress in MIRAI Revitalization Plan has further improved the stability of the existing portfolio
• 1. Credit Financial strategy/ESG

• Stable financial base maintained on the back of Mitsui & Co. Group's credit
• Steady promotion of ESG initiatives (obtaining GRESB Real Estate Assessment, implementation of green finance, etc.)​

Historical Unit Price		MIRAI		TSE REIT Index		NAV per unit
(yen)
					Recovery of NAV
70,000
					multiple of 1.0x in the
60,000						COVID-19 crisis

50,000

40,000

30,000

20,000 16/12 17/03 17/06 17/09 17/12 18/03 18/06 18/09 18/12 19/03 19/06 19/09 19/12 20/03 20/06 20/09 20/12 21/03 21/06 21/09

(year/month)	4