Governance
First J-REIT No Fixed Fee, Performance Fee-Only Structure
- Performance-linked fee structure to support shareholder value creation
- Pro-active, dynamic management of Ichigo Hotel assets on behalf of shareholders
- Reduced Gains on Merger Performance Fee & Gains on Merger Performance Fee based on Shareholder Meeting approval on October 26, 2024
Best Practice Governance
REIT
Monitors Asset Management Company
- All Ichigo Hotel Directors are Independent Directors
- Active dialogue and effective internal controls via Board discussions led by REIT Executive Director
- Draw upon expertise of REIT Supervisory Directors (qualified lawyers & accountants)
Asset Management Company (AMC)
Best Practice
- 2 of 5 AMC Directors are Independent Directors
- Independent asset management team & best-practice execution on behalf of Ichigo Hotel within AMC
- Compliance and Audit are directly under the AMC President to monitor and review critical compliance matters
- Ensure objectivity by including third-party, independent lawyers and accountants in the Investment Committee & Risk & Compliance Committee
Independence of the Investment Corporation From AMC
25 of 57 J-REITs have AMC Presidents serving as Executive Director of the REIT
All Ichigo Hotel Directors are Independent
Independent Directors at AMC
Only 4 Asset Management Companies have any Independent Directors
2 of 5 Ichigo Investment Advisors Directors are Independent