Executive Directors and Supervisory Directors
4 in total (1 Executive Director and 3 Supervisory Directors)
Ratio of female directors:
25%
Criteria for Election of Directors
Selection of candidates for Director is premised on the notion that they are not subject to grounds for disqualification as stipulated in the Act on Investment Trusts and Investment Corporations and other laws and regulations (Article 98 and Article 100 of Act on Investment Trusts and Investment Corporations and Article 244 of the Regulation for Enforcement of the Act on Investment Trusts and Investment Corporations). They are accordingly elected by resolution of the General Meeting of Unitholders based on the reasons for their election set forth below. There are no special interests whatsoever between the Directors currently serving on the Board of Directors and MAF.
- Reasons for election of Executive Director: An Executive Director must have extensive experience and knowledge of the real estate business.
- Reasons for election of Supervisory Director: A Supervisory Director must be an attorney at law, certified public accountant, real estate appraiser, or other such external expert, and must be capable of supervising Executive Directors in executing their duties and performing a checking function.
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| Position Name |
year and month |
Brief personal history |
|---|---|---|
|
April 1980 | Joined Mitsui Fudosan Co., Ltd. |
| April 2002 | General Manager, Business Promotion Office, Housing Business Division, Mitsui Fudosan Co., Ltd. | |
| April 2006 | General Manager, Urban Development Department, Housing Business Division, Mitsui Fudosan Co., Ltd. | |
| October 2006 | Seconded to Mitsui Fudosan Residential Co., Ltd.; General Manager, Urban Development Department, Development Headquarters. | |
| April 2009 | Executive Officer, Development Headquarters; General Manager, Urban Development Department, Mitsui Fudosan Residential Co., Ltd. | |
| April 2011 | Group Officer, Mitsui Fudosan Co., Ltd. Director and Executive Managing Officer, Mitsui Fudosan Residential Co., Ltd. |
|
| April 2013 | Director and Senior Executive Managing Officer, Mitsui Fudosan Residential Co., Ltd. | |
| April 2017 | President (Representative), Mitsui Fudosan Reform Co., Ltd. (now Mitsui Designtec Co., Ltd.) |
|
| April 2018 | Group Senior Officer, Mitsui Fudosan Co., Ltd. | |
| October 2020 | Chairman of the Board, Mitsui Designtec Co., Ltd. | |
| April 2021 | Advisor, Mitsui Fudosan Co., Ltd. | |
| May 2025 | Executive Director, Nippon Accommodations Fund Inc. (now Mitsui Fudosan Accommodations Fund Inc.) (current position) | |
| July 2025 | Outside Director, CoLife Co., Ltd. (current position) |
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| Position Name |
year and month |
Brief personal history |
|---|---|---|
|
April 1985 | Joined Orient Leasing Co., Ltd. (now ORIX Corporation) |
| March 1990 | Registered as Real Estate Appraiser. | |
| September 2008 | Director, Etoh Real Estate Appraisal Co., Ltd.(current position) | |
| April 2009 | Civil Conciliation Commissioner, Tokyo Family Court. (current position) | |
| June 2011 | Executive Secretary, Land Price Publication Subcommittee, Ministry of Land, Infrastructure, Transport and Tourism. | |
| October 2012 | Chief Assessor, Inheritance Tax Roadside Land Valuation Program. | |
| January 2014 | Member, Property Valuation Council of Minato City, Tokyo. | |
| March 2014 | Member, Tokyo Land Valuation Council. | |
| August 2019 | Real Estate Valuation Expert, Kawasaki City. (current position) | |
| August 2019 | Executive Secretary, Fixed Asset Valuation Committee. | |
| May 2021 | Supervisory Director, Nippon Accommodations Fund Inc. (now Mitsui Fudosan Accommodations Fund Inc.) (current position) |
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| Position Name |
year and month |
Brief personal history |
|---|---|---|
|
April 1999 | Admitted to the Dai-Ichi Tokyo Bar Association. |
| June 2005 | Outside Corporate Auditor, ZENRIN Co., Ltd. | |
| August 2009 | Established Ishii & Enomoto Law Office. | |
| April 2014 | Auditor, Dai-Ichi Tokyo Bar Association. | |
| June 2014 | Outside Director, KAKEN PHARMACEUTICAL CO., LTD. | |
| April 2018 | Instructor, Legal Training and Research Institute of the Supreme Court of Japan. | |
| January 2019 | Established Enomoto & Fujimoto Law Office. | |
| May 2021 | Supervisory Director, Nippon Accommodations Fund Inc. (now Mitsui Fudosan Accommodations Fund Inc.) (current position) | |
| April 2022 | Civil Conciliation Commissioner, Tokyo District Court. (current position) | |
| April 2023 | Member of the Governing Council, Dai-Ichi Tokyo Bar Association. | |
| March 2024 | Established ENOMOTO FUJIMOTO & ANDO LAW OFFICE. (current position) | |
| April 2025 | Visiting Professor, The University of Tokyo Graduate Schools for Law and Politics (current position) | |
| June 2026 | Outside Director, TAIHEI DENGYO KAISHA, LTD. (current position) |
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| Position Name |
year and month |
Brief personal history |
|---|---|---|
|
April 1987 | Joined Shiseido Company, Limited. |
| October 1990 | Joined Asahi Shinwa & Co. (now KPMG AZSA LLC) | |
| March 1994 | Registered as a Certified Public Accountant. | |
| June 2001 | Established Iwatani CPA Office. (current position) | |
| August 2006 | Representative Director, Kaikei Ishiki Co., Ltd. (current position) | |
| June 2015 | Outside Director, Nippon Crucible Co., Ltd. (current position) | |
| May 2023 | Supervisory Director, Nippon Accommodations Fund Inc. (now Mitsui Fudosan Accommodations Fund Inc.) (current position) |
Remuneration of the Independent Auditor
The amount of remuneration of the Independent Auditor is set by the Board of Directors with a cap of 20 million yen for each operating period, paid in 3-month installments by the last day of February, May, August and November each year by bank transfer to the account stipulated by the Independent Auditor.
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| Name | Details of remuneration | Total remuneration | |
|---|---|---|---|
| 39th Period (Ended August 31, 2025) |
40th Period (Ended February 28, 2026) |
||
| KPMG AZSA LLC | Audit-based remuneration | 14,598 thousand yen※ | 14,400 thousand yen |
- ※The total amount of remuneration paid to KPMG AZSA LLC includes remuneration (198 thousand yen) for services other than those stipulated in Article 2, paragraph (1) of the Certified Public Accountants Act.