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Personal Information Protection Policy (Privacy Policy)

1. Basic Policy on Personal Information Protection

Kenedix Residential Investment Corporation (KDR) is committed to the appropriate handling of personal information by complying with the Act on the Protection of Personal Information and other related laws, regulations, guidelines, etc.

2. Collection of Personal Information

Where personal information is to be acquired, KDR will do so through appropriate means. Where personal information is to be acquired directly from the person in writing or via a screen of the website, etc., KDR will clearly indicate the purposes of use in advance. However, where the purposes of use are clear given the circumstances of the acquisition of personal information, a clear indication of the purposes of use may be omitted.

3. Management of Personal Information

KDR takes necessary and appropriate safe management measures according to each stage of acquisition, use, storage, etc. of personal information to prevent leakage, loss or damage, etc. of personal information.

4. Use of Personal Information

KDR uses the acquired personal information for the following purposes:

(1) For conducting any business operations pertaining to exercise of the rights of unitholders and performance of the obligations of KDR of sending asset management reports, notice of convocation of the general meeting of unitholders or notice of payment of distributions, etc. to the unitholders of KDR (hereafter, the "unitholders") pursuant to the Act on Investment Trusts and Investment Corporations (hereafter, the "Investment Trusts Act") and other laws, regulations, administrative agency and financial instruments exchange regulations, etc. (hereafter, the "Investment Trusts Act, etc.")

(2) For managing information of unitholders, such as the preparation of data of the unitholders' register, etc. prepared pursuant to the Investment Trusts Act, etc., and for providing information to unitholders

(3) For handling and confirming inquiries and visits to businesses conducted by KDR

(4) For KDR to conduct property (including securities or claims underlying such property; the same shall apply hereafter) acquisitions, and surveys and considerations of acquisitions prior to acquisitions

(5) For KDR to conduct property sales, and surveys of buyers or new real estate management companies and considerations of sales prior to sales

(6) For grasping and managing the status of leasing, management of rent income as well as conducting business operations for billing expenses pertaining to replacement costs, etc., to lessees of properties held by KDR

(7) For confirming lessees of properties held by KDR or for which KDR is considering acquiring or the status of creditworthiness of those considering leasing (including cases of buyers or new real estate management companies), and conducting business operations for concluding lease agreements

(8) For conducting business operations concerning analyses of rental housing demand, such as leasing service enhancement questionnaires, and various communications with lessees of properties held by KDR or those considering leasing

(9) For conducting calculation of allowance for doubtful accounts as well as other business operations concerning accounting and taxation in the financial results of KDR

(10) For conducting business operations concerning provision of all sorts of information concerning guides, etc. for KDR's financial results briefing sessions, management status reporting sessions and property viewing sessions to unitholders, preparation of attendance data, etc.

(11) For conducting business operations concerning inquiries, requests for materials, etc. from KDR's unitholders and those considering buying securities issued by KDR

(12) For claiming nonlife insurance pertaining to properties held by KDR

(13) For confirming the identification of the persons stated on application forms, contracts, etc. for performance of the businesses conducted by KDR

(14) For performing business operations related or incidental to the businesses conducted by KDR other than the above

(15) For providing personal information to third parties within the scope necessary to achieve the purposes of use listed in (1) through (15) above

5. Disclosure and Provision of Personal Information to Third Parties

In addition to when provided by laws and regulations, KDR may provide personal data to third parties as follows within the scope necessary to achieve the purposes of use above. Furthermore, a person can request to have the provision of his/her personal information to third parties suspended and so such persons are asked to contact the following "Contact."

(1) Third parties to which personal data are provided
(1) Counterparties to and other parties involved in agreements on property transactions (including prospective such parties)
(2) Building lots and buildings transaction business operators
(3) Financial institutions, nonlife insurance companies, nonlife insurance agencies, attorneys, certified public accountants, certified public tax accountants, certified real estate appraisers, judicial scriveners, land and house investigators, administrative scriveners, engineering report companies, real estate managers, etc. involved in business operations incidental to real estate, etc. transactions of KDR
(4) Property operators
(5) Website creators

(2) Items of personal data that are provided
Items concerning the content of lease agreements such as name, address, telephone number, email address and leasing conditions entered in the rent roll (list of leasing conditions) as well as other items within the scope necessary to achieve the purposes of use above

(3) Means or methods of provision
Written documents, mail, phone, facsimile, email, advertising media, etc.

6. Supervision of Contracted Service Providers

KDR outsources asset management services and general administration, etc. services pursuant to the Investment Trusts Act as a registered investment corporation. KDR conducts necessary and appropriate supervision of such contracted service providers by taking such steps as requiring contracted service providers to take strict safe management measures to prevent loss, misuse, modification, etc. of the personal data handled in their possession.

7. Inquiries Concerning Personal Information

Please contact the following if you have questions and inquiries on disclosure, correction, suspension of use, etc. concerning provided personal information:

6-5, Nihombashi Kabuto-cho, Chuo-ku, Tokyo 103-0026 Japan
Kenedix Real Estate Fund Management, Inc. (KDR's asset manager)
TEL: 03-5623-8900
Business hours: 9:00 to 17:00 Japan Standard Time (closed on weekends, national holidays, and year-end and New Year holidays)

However, please contact the following administrator for unitholders' register if you have inquiries about unitholders' register entry items and administrative handling:

2-8-4, Izumi, Suginami-ku, Tokyo 168-0063 Japan
Stock Transfer Agency Business Planning Department
Sumitomo Mitsui Trust Bank, Ltd.
TEL: 0120-782-031
Business hours: 9:00 to 17:00 Japan Standard Time (closed on weekends, national holidays, and year-end and New Year holidays)

Note about revisions:
The privacy policy is subject to revision due to various reasons, including change of laws and regulations.