To whom it may concern

TOSEI CORPORATION (Head Office: Minato-ku, Tokyo; President and CEO: Seiichiro Yamaguchi; Securities Code: 8923) is pleased to announce that "TREC No. 10 Apartment Fund Gakugei Daigaku, Meguro-ku, Tokyo" (the "Fund") , whose general offering commenced on April 26, 2024, is now under management as of today. Only investors that are residents of Japan are permitted to invest in the Fund and use our services related to investing in the Fund. Investors that are non-residents of Japan are not permitted to invest in the Fund or otherwise receive our services, so we cannot accept investment requests from any investors that are non-residents of Japan.

The subject property of the Fund is the land and building of a single rental apartment building located in Chuo-cho, Meguro-ku, Tokyo. As a result of the large number of investment applications received, the total amount of 222.5 million yen has been offered, and the Fund has started management today.

The property to be invested in is a rental apartment for singles or DINKS households located in a quiet residential area nearby Gakugei Daigaku Station on the popular Tokyu Toyoko Line, and has high liquidity as an investment property. We will manage the Fund with the aim of maximizing capital gains when the property is sold through the leverage effect of loans from financial institutions.

In order to meet the expectations of more investors, we will continue to conduct solid fund management, provide attractive investment opportunities, and improve our services.