Starts Proceed Investment Corporation with 150 million yen in capital (750 units) based on the Act on Investment Trusts and Investment Corporations. Starts Proceed Investment Corporation completed registration with the Kanto Local Finance Bureau based on Article 187 of the Investment Trusts Act on June 15, 2005 (Registration No. 37 issued by the Director-General of the Kanto Local Finance Bureau), implemented additional issuance of investment units through public offering (21,600 units) on November 29, 2005, and listed on Jasdaq Securities Exchange, Inc. (currently Tokyo Stock Exchange, Inc. JASDAQ Market) (Securities Code: 8979) the next day. After three capital increases through public offering and other developments since listing on the JASDAQ Market, SPI listed on the Tokyo Stock Exchange, Inc. Real Estate Investment Trust Securities Market (Securities Code: 8979) on July 27, 2010, and this was accompanied by an application for delisting being filed with the JASDAQ Market on August 10, 2010, and the delisting from the JASDAQ Market taking effect on October 1, 2010. SPI entrusts asset management to Starts Asset Management Co., Ltd. (the Asset Management Company) and sets the focus of management on investment in real estate of which the principal use is use as rental housing (rental housing) as well as specified assets (the meaning provided in Article 2, Paragraph 1 of the Investment Trusts Act; the same hereinafter) backed mainly by rental housing. SPI also invests in monthly rental apartments, serviced apartments, hotels, residential facilities for the elderly (collectively referred to as rental housing, etc. together with rental housing), which are assets related to rental housing, and real estate from which income can be expected due to other leasing revenue or specified assets backed by such real estate. As it invests in rental housing, etc., SPI adopts the basic policy of setting rental housing for average-income households in particular, the demand for which SPI believes to be the most stable, as the primary investment target. In addition, SPI takes measures, such as leveraging the capabilities of the Starts Group, to enhance asset management efficiency, with an aim to secure steady growth of assets under management and stable earnings over the medium to long term. In the 39th fiscal period, SPI acquired its own investment units in the period from December 17, 2024, to April 22, 2025, from the perspective of improving unitholders value over the medium- to long-term (total number of investment units acquired: 10,062; total acquisition amount: 1,737 million yen). All of the acquired investment units were cancelled on April 30, 2025. As a result, as of the end of the 39th fiscal period, the total number of investment units issued and outstanding is 272,415 units, total assets amount to 101,988 million yen, and unitholders capital (net) amounts to 45,600 million yen. Starts Proceed Investment Corporation was established on May 2, 2005.