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Employee initiatives

Basic Policy

As an asset management company of Japan Real Estate Investment Corporation (“JRE”), Japan Real Estate Asset Management (“JRE-AM”) upholds the following four management policies.

1. We will aim to be an asset management company that is highly trusted by investors.
2. We will continually provide high-quality asset management services closely in tune with investors’ needs.
3. We will strive to achieve asset management results that satisfy investors.
4. We will maintain a high level of transparency in our asset management activities through timely and pertinent disclosures to investors.

We believe that it is vital to attain and develop talented personnel in order to realize high-quality asset management pursuant to these policies.
To this end, JRE-AM has been working to foster personnel that we can be proud of as the industry front-runner under the leadership of the Corporate Administration Department, which oversees human resources operations through: (i) schemes to develop professionals who take on asset management; (ii) initiatives to improve the workplace environment and employee satisfaction; and (iii) personnel support, etc. from Mitsubishi Estate and Mitsui & Co. as JRE’s sponsors.

Human Resources Development

JRE-AM has engaged in various initiatives aimed at developing personnel with high ethical standards, professional skills and a broad range of expertise.

■Training and capability/career development programs

JRE-AM has adopted a wide range of training and capability/career development programs as part of its workforce development.

Examples:
Subsidies for expenses associated with gaining qualifications (ARES Certified Master, Certified Building Administrator [CBA], Real Estate Notary, etc.)
Provision of training sessions, subsidies for training expenses (fund management, logical thinking skills, financial accounting, organizational management, coaching, compliance and more)
  Total training hours per
year
Training hours per
employee
Training expenses per
employee
FY2017 353.6 hours 9.6 hours per year ¥34,647 per year
FY2016 727.2 hours 20.2 hours per year ¥82,651 per year
FY2015 416.9 hours 12.3 hours per year ¥50,476 per year

* Hours spent for overseas training, correspondence courses and attendance at legally mandated lectures for the Real Estate Notary examination have not been included in the table above.

Employees who are seconded from Mitsubishi Estate and Mitsui & Co., JRE-AM’s shareholders, participate in the personnel development programs of the respective companies in an effort to further enhance asset management capabilities. Please refer to the websites of the respective companies for details on their personnel development systems.
Link to Mitsubishi Estate website
Link to Mitsui & Co. website

■Performance evaluation and feedback scheme

JRE-AM has adopted Management by Objectives for all employees. At the beginning of each year, annual targets are set through interviews with an employee performance evaluator, etc. Then at the end of the year, interviews are conducted to check the achievement status of such targets, and to provide feedback on evaluation. In this way, we promote the capability and career development of each employee and thus achieve systematic personnel development.

Attract and retain talented personnel

JRE-AM has implemented a range of initiatives to attract and retain talented personnel including the provision of a pleasant workplace environment and attractive employee benefits.

■Satisfaction survey

A range of initiatives have been implemented in order to measure employee satisfaction and solicit various employee opinions on a timely basis.

Examples:
Employee opinion exchange meeting organized by the General Manager in charge of human resources operations
Employee interviews aimed at improving operational efficiency
HR interviews
Compliance survey
External helpline for employee consultation (anonymous consultation is possible)

■Employee welfare

JRE-AM has established a wide range of employee benefit programs in accordance with the lifestyles and life stages of employees.

Examples:
Childcare leave
Familycare leave
Nursing care leave of absence for children (few days leave permitted per year to nurse sick children)
Nursing care leave of absence for family (few days leave permitted per year to nurse elderly)
Shortened work hours for childcare
Shortened work hours for nursing care
Long-service leave system (special leave/monetary award is given in recognition of long service)
Employee award system
Monetary gifts for congratulations, condolences, etc.
Service provided by an employee benefits services company

■Actual usage of childcare leave, etc.

  Number of employees who
took childcare leave
Number of employees who
took nursing care leave
Number of employees who
used shortened work hours
FY2017 Male 0 0 0
Female 2 0 1
FY2016 Male 0 0 0
Female 1 0 1
FY2015 Male 0 0 0
Female 2 0 2

* 100% of employees who have taken childcare leave returned to work and remained at work for 12 months thereafter.

■Wage structure

Average annual wage (model cases)

30 years old: 6.5 million yen
40 years old: 9 million yen

* Theoretical wages based on examples of monthly wages (base salary, various allowances) and bonuses

■Initiatives concerning employee health

JRE-AM provides mental and physical health program for employees to ensure that they can work comfortably and safely.

Examples:
Offering of annual health checks (100% of employees have had checkups last year.)
Provision of subsidies for expenses associated with full medical checkups
Provision of subsidies for immunizations against influenza, etc.
Provision of counseling rooms owned by sponsors (JREA’s shareholders)
Regular provision of anti-harassment training

■Other initiatives for creating a comfortable workplace environment for employees

・Introduction of a flex-time system for all employees
We have developed an environment where employees can arrange their work hours to suit their lifestyle by setting a core time (minimum of two hours) and designating other work hours as flex time.

・Office relocation to Otemachi Park Building
Our office was relocated to Otemachi Park Building in December 2017. Otemachi Park Building is a state-of-the-art building featuring advanced energy efficient facilities, BCP functions and facilities focused on coexistence with the environment. Equipped with designated lounge space for tenants with a fitness room, nap room, shower room, etc. in addition to a nursery and a community plaza with natural greenery that is designed with consideration for biodiversity, the building offers a workplace environment that supports healthy and diverse ways of working and improves productivity.

・Pleasant office design that promotes mutual communication
Along with the office relocation, we have adopted an address-free seating where employees can choose desks freely as well as an enhanced communal space within the office. In addition to the existing free drink services that we had before the office relocation, we will pursue office space development to further promote communication within the company in an effort to accelerate work-style reforms and productivity enhancement.

・Support for promoting internal communication and exchange
JRE-AM has a system to provide a certain amount of subsidies for expenses related to employee social gatherings such as welcome parties, year-end parties, etc. Such gatherings have been utilized as meaningful opportunities to promote communication within the company and departments and create a workplace environment where employees can work more comfortably.

Basic employee data

As of the end of previous fiscal year
  Full-time
employees
Contract
employees
Seconded staff Total number of
employees
[Reference]
Temporary
dispatched staff
Male 8 0 15 23 0
Female 5 7 2 14 8

JRE-AM has hosted employees with extensive experience and know-how in real estate investment and real estate asset management as seconded staff from its shareholders Mitsubishi Estate and Mitsui & Co. By fully utilizing this personnel pipeline, we have taken steps to enhance the quality of our portfolios and boost profitability.

  Number of employees who
newly joined the company
Number of employees who
left the company
Employee turnover rate
FY2017 3 2 5.4%
FY2016 6 2 6.1%
FY2015 6 2 6.9%

* The number of employees who newly joined/left the company does not include transfers of seconded employees.

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