Frontier Real Estate Investment Corporation

Code 8964

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Governance Initiatives

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FRI’s Corporate Governance

Corporate Governance

FRI shall have at least one executive director and at least two supervisory directors (the number of supervisory directors must be equal or larger than the number of executive director(s) plus one). The executive director(s) and the supervisory directors shall constitute the Board of Directors of FRI.

FRI’s institutions are made up of one executive director, two supervisory directors, the Board of Directors comprising all executive directors and supervisory directors, and the accounting auditor, in addition to FRI’s unitholders, who constitute the General Meeting of Unitholders.

Management System

Management of FRI’s assets is entrusted to Mitsui Fudosan Frontier REIT Management Inc., the asset management company, which performs its assignments based on the asset management agreement concluded with FRI under the following organizational structure.

運用体制

Directors’ compensations

FRI has made the following arrangements as to the standard for payment of the directors’ compensations and the time when the payment is made.

(1) The compensations for each executive director shall be up to 800,000 yen per month, and the amount determined by the Board of Directors that is deemed reasonable in light of the general price trends and wage trends, etc. shall be paid for a relevant month by the end of said month and shall be done so each month.
(2) The compensation for each supervisory director shall be up to 500,000 yen per month, and the amount determined by the Board of Directors that is deemed reasonable in light of the general price trends and wage trends, etc. shall be paid for a relevant month by the end of said month and shall be done so each month.
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