TOKYO--(BUSINESS WIRE)--Nomura Real Estate Office Fund, Inc. (NOF)(URL: http://www.nre-of.co.jp/english/) (TOKYO:8959), a Japanese office building real estate investment trust (J-REIT), announced that Nomura Real Estate Asset Management Co., Ltd. ("NREAM"), a licensed investment trust management company retained by the Fund to provide asset management services, has determined to merge with Nomura Real Estate Investment Management Co., Ltd. ("NREIM") and Nomura Real Estate Capital Management Co., Ltd. ("NRECM") and conclude the merger agreement on July 7, 2011, as mentioned below.
1. Reason for Merger
NREAM currently manages 2 listed REITs (NOF and Nomura Real Estate
Residential Fund, Inc.) and 1 open-ended unlisted REIT (Nomura Real
Estate Private REIT, Inc.) and has built-up vast experience and
expertise regarding REIT management.
NREIM, since its establishment
in December 2001, is a private fund asset management company that has
managed and offers various risk-return profiles, from core to
opportunity funds.
NRECM has expanded into new real estate
financial instrument business through development of the fund business,
which manages primarily domestic and international real estate Fund of
Funds (FoFs) and real estate backed securities, and discretionary
investment management business for Pension funds.
Through the
merger of the real estate management related business operated by the
three companies mentioned above, NREAM will be able to integrate the
human resources and expertise regarding asset management that was
dispersed within the Nomura Real Estate Group (Note) and are also able
to further enhance the ability to gather property information through
the expansion of the managing asset size, expand on investment
opportunities, and further improve their management ability.
| (Note) |
Refers to the business operations of Nomura Real Estate Development Co., Ltd. and the subsidiary companies of Nomura Real Estate Holdings, Inc.("NREHD") |
|
2. Summary of Merger |
||||
|
(1) |
Schedule of the Merger |
|||
|
Board of Directors Meeting |
July 6, 2011 | |||
| Date of Merger Agreement | July 7, 2011 (scheduled) | |||
|
Date of Shareholders' Meeting |
August 25, 2011 (scheduled) | |||
| Effective Date of Merger | October 1, 2011 (scheduled) | |||
| Date of Merger Registration | October 3, 2011 (scheduled) | |||
| Date of Notification to Prime Minister | October 3, 2011 (scheduled) | |||
| (2) | Method | |
| The merger will be an absorption-type merger under which NREAM will remain the surviving company and NREIM and NRECM will be dissolved as the absorbed company. | ||
| (3) | Content of Allocation | |
|
As the merger will be conducted among wholly owned subsidiaries of NREHD, the surviving company will not allocate any counter values, etc., to the shareholder of absorbed companies (NREHD). |
||
|
3. Status after Merger |
||
| Surviving company | ||
| (1) Company Name |
Nomura Real Estate Asset Management Co., Ltd. |
|
| (2) Location |
8-5-1 Nishi-Shinjuku, Shinjuku-ku Tokyo 160-0023, |
|
| (3) Representative | TBD | |
| (4) Description of Business |
Investment management business, Type II financial |
|
| (5) Capital | JPY 300 million | |
| (6) Fiscal term | From April to March | |
| (7) Net assets | JPY 2,900 million (predicted) | |
| (8) Total assets | JPY 4,100 million (predicted) | |
Please refer to the original news release for the
complete information.
http://www.nre-of.co.jp/site/file/tmp-TmCW4.pdf
< About NOF > URL: http://www.nre-of.co.jp/english/
NOMURA OFFICE FUND, INC.(NOF) is listed on the Tokyo Stock Exchange(J-REIT) with the securities code number 8959, managed by Nomura Real Estate Asset Management Co., Ltd. (NREAM) within the Nomura Real Estate Group. The NOF Portfolio consists of office buildings located in the three major metropolitan areas and government-designated cities, etc.
Executive Director: Yuichi Maruko
*Asset Management Company (AM Company): Nomura Real Estate Asset Management Co., Ltd.
*President and Chief Executive Officer of the AM Company: Atsushi Ogata