Business operation announcement due to Coronavirus
April 1, 2020

Dear Valued Customers,
Due to the recent outbreak of the coronavirus disease 2019 (COVID-19), in accordance with
mandates from national and local governments, Agility Asset Advisers Inc. have decided to change
business structure. We apologize for any inconvenience this may cause and would like to ask for
your patience and consent.
(1) Change of business structure
In principle, our company employee will be working from home. Therefore, if you have
any inquiries, please contact each employee 's e-mail or mobile phone.
(2) Change of business hours
Small number of essential employees who may come into office, business hours will be
changed from 10am to 4pm. Staffs who are working from home will be as usual from
9:30am to 6pm.
(3) Others
This business structure will be scheduled from April 1 to May 1, although it may change
due to administrative authorities and social circumstances.
Further details will be announced on our website.
HP: http: //www.aaa-inc.jp
For inquiries about this matter, please contact the following e-mail or telephone.
Email: aaa@aaa-inc.jp
Phone: 03-3552-8878

Kinji Kaiho
President
Agility Asset Advisers Inc.

Agility Asset Advisers Group (“AAA Group”) will establish Agility Asset Management (Singapore) Pte. Ltd. (“AAM”), a new company for conducting the real estate-related investment advisory business, real estate securitization and the fund business-related business in the region centered on Southeast Asia and China, on January 31, 2019 jointly with Agility Partners Pte, Ltd. (“Agility Partners”), a subsidiary of Phillip Capital Group, a business partner of Agility Asset Advisers Inc. (“the Company”), and AAM will commence business operations on the same day.

Since July 2016, AAA Group has been developing businesses centered on the inbound investment management business in real estate in Japan with Phillip Capital Group as a business partner and, following the major recent trend of Japanese companies of developing the real estate-related investment business in Asia, particularly Southeast Asia, conducting business to support the development of this business. To provide full-scale support for the development of the investment business of Japanese companies in Asia and develop our business jointly with these Japanese companies, we have decided to establish AAM at this time as an outlet for this business in Singapore, which is a hub in Asia.

After commencing business operations, we will establish a liaison office in Ho Chi Minh City and Bangkok in the first fiscal year with Vietnam and Thailand, which is enjoying remarkable economic growth, as areas of focus. From fiscal 2020, we will expand the range of activities in other Asian regions. With respect to the capital structure of the new company, Agility Holdings Inc., a holding company of AAA Group, will commence a new structure by underwriting capital increase through private placement of 50% of shares of AAM (Agility Partners currently has a 100% stake currently).

Kinji Kaiho
Representative Director
Agility Asset Advisers Inc.

(About Phillip Capital Group)

Phillip Capital Group is a financial group with Phillip Securities Pte. Ltd., a securities company established in Singapore in 1975, as its core. It has now established bases in 17 countries around the world to develop securities, trust, banking, insurance, financial futures and financial IT businesses.
AAA Group formed a capital alliance with Phillip Capital Group in July 2016 and plays a role as a platform for the real estate securitization and asset management of Phillip Capital Group in Japan.

(About Agility Partners Pte. Ltd.)

Agility Partners Pte, Ltd. is a company that was established by Phillip Capital Group in Singapore in 2016. It has CKS Consulting Pts. Ltd., a real estate appraisal company with a history of nearly 100 years in Singapore, under its umbrella. It has now organized Agility Asian, a network of real estate appraisal companies with local leading companies, mainly in Southeast Asia and also engages in businesses such as real estate fund investment and real estate brokerage.

Overview of the New Company

Agility Asset Advisers Inc. announces that it decided to adopt a holding company management structure on January 5, 2018. Based on this decision, it has established Agility Holdings Inc., a holding company under which three operating companies, namely, Agility Asset Advisers Inc., AAA Consulting K.K., and AAA Investment K.K., are positioned. The transition to a new structure as a group company, including the said holding company structure, has been carried out with the aim of clarifying the businesses operated by the respective group companies and optimizing management.

Kinji Kaiho
Representative Director
Agility Asset Advisers Inc.

Outline of Change in Management Structure