United Urban Investment Corporation

Securities Code
8960

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Distribution Policies

The Investment Corporation shall make cash distributions to unitholders and registered investment unit pledgees whose names are listed or recorded as such on the registry of unitholders as of the last day of each fiscal period in accordance with the following distribution policies:
(For details, please refer to "Cash Distributions" page.)

  1. Method of Calculating Total Amount of Cash Distributions to Unitholders
    1. Of the total amount of the cash distributions payable to unitholders, the amount of profits (meaning profits defined in Article 136, Paragraph 1 of the Investment Trust Act) shall be calculated in accordance with the generally accepted accounting standards and principles in Japan. (Article 35, Paragraph 1 of the Articles of Incorporation)
    2. The Investment Corporation shall, in principle, distribute the amount that exceeds 90% of the Investment Corporation's distributable profit as stipulated in Article 67-15, Paragraph 1 of the Act on Special Measures Concerning Taxation (the "Special Provisions for Taxation on Investment Corporation") (or, if the method of calculating the amount is changed due to the amendments of laws and regulations, the changed amount). (Article 35, Paragraph 1 of the Articles of Incorporation)
  2. Distribution in Excess of Earnings
    The Investment Corporation can distribute the amount determined by the Investment Corporation to the extent specified by laws and regulations and within the limit of the amount provided in the rules of the Investment Trusts Association, Japan, as distribution in excess of earnings, provided that the Investment Corporation deems it appropriate such as cases where the amount of cash distribution does not satisfy the requirement stipulated in Special Provisions for Taxation on Investment Corporation, or cases where the corporate tax is not imposed, in view of the real estate market trends. (Article 35, Paragraph 2 of the Articles of Incorporation)
  3. Method of Distribution
    Distributions to unitholders shall be paid in cash, in principle, within three months from the last day of each fiscal period to unitholders or registered investment unit pledgees whose names are listed or recorded as such on the registry of unitholders as of the last day of each fiscal period, in proportion to the number of investment units held or the number of investment units for registered investment unit pledge. (Article 35, Paragraph 3 of the Articles of Incorporation)
  4. Extinctive Prescription for Cash Distributions
    The Investment Corporation shall be discharged from the obligation to pay the distributions to unitholders or registered investment unit pledgees after the elapse of not less than three years from the date of commencement of payment of any such distribution. The unpaid cash distributions shall not bear interest. (Article 35, Paragraph 4 of the Articles of Incorporation)
  5. Rules of the Investment Trusts Association of Japan
    In addition to the above Items 1 through 4, for cash distributions, the Investment Corporation shall comply with the rules established by the Investment Trusts Association of Japan. (Article 35, Paragraph 5 of the Articles of Incorporation)

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