MIRAI : Notice Concerning Issuance of Investment Corporation Bond and Repayment of Loans before Due Date

September 14, 2021

For Immediate Release

Real Estate Investment Trust:

MIRAI Corporation

Michio Suganuma, Executive Director

(Securities Code: 3476)

Asset Management Company:

Mitsui Bussan & IDERA Partners Co., Ltd.

Michio Suganuma, Representative Director, President

Contact: Nobuaki Takuchi, Executive Director, CFO

TEL: [phone]

Notice Concerning Issuance of Investment Corporation Bond and Repayment of Loans before Due Date

MIRAI Corporation (hereinafter "MIRAI") announces that it has decided to issue investment corporation bond (hereinafter "the Bond") based on the comprehensive resolution made on August 26, 2021, as well as to repay loans before due date. Details are as follows.

1. Issuance of the Bond

1. Summary of the Bond

(i) Name of the bond	MIRAI Corporation. #3rd Unsecured Bond	MIRAI Corporation. #4th Unsecured Bond
	(with special pari passu conditions among the	(with special pari passu conditions among the
	specified investment corporation bond)	specified investment corporation bond)
(ii) Total amount of the bond	2 billion yen	1 billion yen
(iii) Form of bond certificate	Under the applicable Act on Book-Entry Transfer of Corporate Bonds and Shares. No bond certificate for
	the Bond will be issued.
(iv) Proceeds	100 yen per face value of 100 yen
(v) Redemption price	100 yen per face value of 100 yen
(vi) Coupon	0.700% per annum		0.980% per annum
(vii) Denomination of each bond	100 million yen
(viii) Subscription method	Public offering
(ix) Subscription period	September 14, 2021 (Tuesday)
(x) Payment date	September 28, 2021 (Tuesday)
(xi) Collateral/Guarantee	Neither collateral nor guarantee is provided for the Bond, and no assets are reserved as security specifically
	for the Bond.
(xii) Redemption method and date	The entire amount will be redeemed on September	The entire amount will be redeemed on September
	26, 2031.		26, 2036.
	The Bond may be repurchased at any time after the date of payment unless otherwise specified by Japan
	Securities Depository Center.

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	(xiii) Interest payment date		The end of April and October each year. (The initial payment date is April 30, 2022. If the interest payment
				date is a bank holiday, then the bank business day preceding it shall be deemed to be the interest payment
				date.)
	(xiv) Financial Covenants		Negative pledge among unsecured bonds
	(xv) Credit rating			A+ (Japan Credit Rating Agency, Ltd.)
	(xvi) Depository			Japan securities Depository Center, Inc
	(xvii) Financial,	issuing	and	Sumitomo Mitsui Trust Bank, Limited
	paying agent
	(xviii) Underwriters		SMBC Nikko Securities Inc.

1. Reasons for the issuance
   Through the Bond issuance, MIRAI intends to lengthen long-term fixed interest debt ratio, flatten debt maturity ladder, and diversify financing instruments in order to build solid balance sheet. The #4th Unsecured Bond is the first 15-year bond as an investment corporation to be rated A+ by Japan Credit Rating Agency, Ltd. and we believe that the creditworthiness of MIRAI has been highly evaluated.
2. Amount of funds to be procured, use of proceeds, and scheduled expenditure date
3. 1. Amount of funds to be procured (approximate net proceeds)
      2,975 million yen
   2. Use of proceeds, and scheduled expenditure date
      Repayment of 1 billion yen short-term loan on September 28, 2021 that will come due on January 28, 2022 and 2 billion yen short-term loan on September 30, 2021 that will come due on February 28, 2022.

2. Repayment of loans (before due date)

Lender

Borrowing

Repayment amount

Interest rate

Borrowing

Repayment

Term of

Remarks

amount

(Balance after repayment)

date

date

maturity

Mizuho Bank, Ltd.

1 billion yen

Base rate (Note 1)

January

September 28,

(Commitment line)

1 billion yen

(0 billion yen)

+0.500%

28, 2021

2021 (Note 2)

1 year

(Note 4)

Sumitomo Mitsui

2 billion yen

Base rate (Note 1)

March 1,

September 30,

Trust Bank, Limited

2 billion yen

(0 billion yen)

+0.260%

2021

2021 (Note 3)

(Note 1) The base rates are one-month Japanese yen TIBOR rates published by the TIBOR Administration of the Japanese Banker Association (JBA). For fluctuations JBA Japanese yen TIBOR rates, please check the website of the JBA TIBOR Administration (http://www.jbatibor.or.jp/rate/).

(Note 2) The original maturity date is January 28, 2022.

(Note 3) The original maturity date is February 28, 2022.

(Note 4) Unsecured, unguaranteed and repaid in full by the due date.

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3. Status of loans payable, etc. after the repayment before due date

				(million yen)
	Before		After	Increase/ Decrease
	A		B	B-A
Short-term borrowings		3,000	-	(3,000)
Long-term borrowings		73,700	73,700	±0
Total borrowings		76,700	73,700	(3,000)
Investment corporation bonds		2,000	5,000	+3,000
Total of borrowings and investment corporation bonds		78,700	78,700	±0
Other interest-bearing debt		-	-	-
Total interest-bearing debt		78,700	78,700	±0
LTV (based on total asset) (Note)		48.6%	48.6%	±0.0%
(Note) LTV (based on total asset) = Total interest-bearing debt / Total asset.

Total asset before the repayment before due date = Total asset as of end of April 2021 (the 10th fiscal period) (161,815 million yen).

(Reference) Situation of the commitment line after the repayment before due date

Lender

Limit amount

Outstanding loan

Maturity date

Term

Remarks

commitments

Mizuho Bank, Ltd.

3 billion yen

3 billion yen

September 28, 2022

Within 12 months

Unsecured/Unguaranteed

4. Other matters required for investors to understand and assess the information provided appropriately

The risks of associated with the Issuance and repayment of the Bond, etc. remain unchanged from the description in "3. Investment Risks" under "Section 1: Status of Funds" of "Chapter 1: Information on the Funds" in the securities report submitted on July 29, 2021.

(End)

• URL:https://3476.jp/en/

This press release is the English translation of the announcement in Japanese on MIRAI's website. However, no assurance or warranties are given for the completeness or accuracy of this English translation.

(Reference press release, etc.)

Dated 1/25/2021 "Notice Concerning Borrowing of Funds"

Dated 2/24/2021 "Notice Concerning Borrowing of Funds"

Dated 8/26/2021 "Notice Concerning Comprehensive Resolution on Issuance of Investment Corporation Bonds"

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