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1990s

2000s

2010s

2020s

Sep, 1991

Apr, 1999

Established Funai Property Dock Co., Ltd. <Group company of Funai Consulting Incorporated Co., Ltd.>

Changed the trade name to Funai Property Consultants Co., Ltd.

Oct, 2000

May, 2002

Jul, 2004

Oct, 2008

Established Funai Estate Co., Ltd. (currently Aoyama Sogo Estate Co., Ltd.)

Started ADVANTAGE CLUB

Listed on Mothers, Tokyo Stock Exchange

Merged with Proggest Holdings Co., Ltd.

Jan, 2011

Jul, 2012

Oct, 2013

May, 2015

Jan, 2016

Aug, 2016

May, 2017

Oct, 2017

Feb, 2019

Dec, 2019

Established Aoyama Wealth Management Pte. Ltd. in the Republic of Singapore

Changed the trade name from Funai Property Consultants Co., Ltd. to Aoyama Zaisan Networks Co., Ltd.

Merged with Nihon Shisan Soken Co., Ltd.

Promoted to the second section of the Tokyo Stock Exchange

Established Shinsei Aoyama Partners Co., Ltd. <joint venture with Shinsei Bank, Ltd.>

Established Jigyoushoukei Navigator Co., Ltd. <joint venture with Nihon M&A Center Inc.>

Established PT Aoyama Zaisan Networks INDONESIA in the Republic of Indonesia

Completed the first regional revitalization project "Komatsu A x Z Square"

Capital and business alliance with Capital Asset Planning Inc.

Established Aoyama Zaisan Networks Kyushu <joint venture with HAC Group and Shinohara CPA Office Group>

Sep, 2020

Oct, 2020

Jan, 2021

Sep, 2021

Appointed Chair of Specified Joint Real Estate Enterprises Council

Established Aoyama Financial Services Co., Ltd.

Established Aoyama Family Office Service Co., Ltd.

We will celebrate our 30th anniversary

We provide one-stop comprehensiveproperty consulting services

to our customers through in-house collaboration with a group of experts

We are a comprehensive property consulting company that protects your "property" and "future".

We respond to the needs related to "preparing for an inheritance" such as inheritance tax planning and smooth inheritance distribution planning, and the needs when "an inheritance occurs". In addition, we assist our customers in solving a wide range of property-related challenges, such as increasing profits for real estate which is the main asset for individual asset owners, improving utilization of real estate, and buying profitable real estate.

With a focus on inheritance measures for individual asset owners, we provide multifaceted support for property maintenance and profit improvement.

For corporate owners

Property consulting

We resolve challenges related to business succession and property succession from the standpoint of a company owner.

Business succession consulting

As part of property and business succession consulting, we propose buying, selling, recombination and effective utilization of real estate.

Real estate solutions

01 02

We started our business in 1991 as a group company of Funai Consulting Incorporated. We expanded our business to a property consulting service company

that provides real estate solutions. With the merger in 2008 with Proggest Holdings which provided a business succession consulting service, we became the only listed

company that could provide two consulting services. We expanded our business in Japan and overseas. We will celebrate our 30th anniversary in 2021.

History of theCompany

There are two aspects in business succession: “management succession”, and “property succession” including treasury stocks. It is necessary to resolve challenges such as the issue of successor and inheritance, and to smoothly transition management and proper t y. We a l so solve comprehensive challenges such as property management taking into consideration the required living infrastructure for the company owner post succession.

Real e s t a te s o lu tions

Property consu

lting

Business succession consulting

your best partnerin 100 years

We provide comprehensive property-related solutions to"individual asset owners" and "corporate owners"

For individual asset

and real estate owners

More than 100registered experts ineach field resolve all

challenges

Our Group has more than 100 professionals that have national qualifications such as CPAs, tax accountants, lawyers,judicial scriveners, licensed social insurance consultants, first-class architects, real estate appraisers, and first-class FP technicians.

We will remain

We support the next and future generations with "a long-term perspective" and "a wide range of viewpoints"

03 04

Ou r F e a t u r e sDistinction

A system that aggregates and incorporates the knowledge of top consultants in the various fields of inheritance measures, business succession, and real estate utilization. After entering a customer’s data, it allows speedy analysis of issues and presents potential countermeasures. With the five perspectives, it guarantees consulting quality that is always above a certain level. As the process and time required for analysis can be shortened, we are able to focus on consulting that is carefully tailored to customers’ objectives while considering their “will”.

We do not have a specific product that "we want to sell". Our goal is to achieve property maintenance and asset creation over the medium to long term for our customers. To that end, we provide total consulting and support from all angles.

Consulting for the next 100 years

With some methods of property succession and business succession, certain problems may arise in the future, even if it appears they have been resolved in the short run. With the view of maintaining property for the next and future generations, we propose smooth succession and management methods. Because of the strength and stability of our organization with experts in each field, we are the best partner for our customers for the long term.

Comprehensive evaluation based on five perspectives Points

There are many inheritance measures and asset management products on the market such as "insurance", "land utilization" or "real estate investment". Even if each product or method is excellent, a challenge cannot be solved by existing combinations of solutions if they are "partial optimization" and there is a possibility of negative results as a whole. Our "total optimization" view supports medium to long-term planning and execution, from inheritance measures for the entire family, including family corporations, to business succession.

Total optimization

"Total planning" with the optimal combination of various products and methods

ART system

※ The ART system is a fusion of "A" AOYAMA/Asset, "R" Real (numerous consulting achievements), and "T" Technology.

Smooth succession of management■The owner’s intention is reflected in the management succession.■There is an environment in which the company can grow and develop even after the succession

●Business sustainability and growth potential ●Shareholder composition that can stabilize business management●Clear successor ●Sound treasury

1

Smooth succession of property■The owner's intention is reflected in the property succession■The inheritance of the agreed property is carried out without conflict between families

●A property succession policy is clear●Family members understand the succession policy2

Securing tax payment funds■Each heir can pay taxes smoothly

●To know the expected inheritance tax amount●To know the future amount of inheritance tax based on the property valuation, e.g. in 5, 10 years.

3

Management and maintenance of property■To manage and create assets

●Being able to live with financial peace of mind after the business succession●After the inheritance occurs, the remaining family members can live with financial peace of mind

4

Preparing for the unexpected■To prepare an environment where a company and family can live with peace of mind even if sudden inheritance, dementia, disasters, or changes in the economic situation occurs

●Even when unexpected events occur, be prepared to prevent the company’s business from becoming unstable●Even when unexpected events occur, be prepared to avoid conflicts in property succession●Even when unexpected events occur, be prepared to pay inheritance tax and secure the living funds of the family after paying it

5

5

1Smooth succession ofmanagement

4 Management and maintenance ofproperty 3 Securing tax

payment funds

01

4

2

3

5 Preparing for the unexpected 2

Smoothsuccession of property succession

Total Planning

Partial optimizationIt can be positive on its own but negative on the whole

Total optimizationWe propose property succession, operation, and management tailored to each customer

Looking ahead 100 years to the next generation, we are the ideal partner for our customers' long-term asset creation

Current owner

Next ownerAsset valueBusiness scale

Time

Consulting for the next 100 years

Being the best partner in asset succession,execution, and management for our customers

Future owner

Current head of family

Next head of family

Future head of family

PlanF

PlanA

PlanB

PlanE

PlanC

PlanD

CompanyA

CompanyF

CompanyC Company

D

CompanyE

CompanyB

Five Perspectives

We provide a consulting service based on "five perspectives". We listen to customers' current situations from each viewpoint and analyze their issues. Then we identify the right solutions and priorities to solve the problems, and propose them accordingly. By covering these five indicators, it is possible to prevent the situation of "forgetting to take measures and having troubles" and to plan with "total optimization". For both individual asset owners and corporate owners, taking measures covering the five perspectives will lead to peace of mind.

Achieving "total optimization" through consulting that covers five indicators

"Business succession" from a wide range of options- we support from decision-making to execution

05 06

Our Consulting Flow

Consulting Menu

ConsultingFlow

"Who can be a successor?" Many company owners often take on worries because they cannot consult with employees or their families. There are four main options for business succession: "succession to relatives", "succession to employees", "M&A" and "close a business". While there are many firms that provide services specializing in any one of these, our strength is that we can provide comprehensive support. Weighing multiple options, we assist you in making decisions. No matter which way you choose, experts in each field will work together to support you through to its execution. You can make a satisfying decision because you can choose from multiple options.

When inheriting a business in a family, there is a potential concern that the family's "philosophy and values" will be lost as time goes by. The succession of the "philosophy and values" is an important factor in enhancing the ties of the family and the sustainability of businesses and property. For the lasting wealth of family businesses, we provide support not only in preseration of tangible assets and operation but also "non-tangible assets areas"-related areas.

Proposal / PlanningConsultation / Current situation analysis Execution / Review

Analysis using our unique methodProperty evaluation: real estate, treasury stock, financial assets, etc.Property analysis: inheritance tax, cash flow, portfolio

Discuss with customerDecide the challenges to work on

Collect data/informationnecessary for the currentsituation analysis

ListeningPrioritize issues Execution

ProposalsSelect effective measuresthrough various simulations

Short-term plan Mid/long-term plan

Examination/Review

Currentsituationanalysis

Identify problems Identify challenges tosolve problems

Long-term support for the next generations

Based on the results of customers' current situation analysis, we propose specific menus for"inheritance measures" and "business succession measures" to create solutions.

■Inheritance measures menu (excerpt)

■Business succession menu (excerpt)

Preliminary measures - Preparations before inheritance -

■Support for establishing employee or management stock ownership plan ■Support for execution/acquisition of treasury stock ■Examination and execution of real estate M&A ■Support for introduction of class shares■Estimation of stock value for treasury stocks ■Verification of real estate owned ■Support for share transfer / gift execution■Support for creation of financial plan ■Consideration and implementation of organizational restructuring■Business succession fund ■Financial due diligence ■Operating lease

■Support for the division of inherited property ■Sale of real estate ■Succession measures considering secondary inheritance■Support for tax payment in kind ■Support for various inheritance procedures

Support for decision-making Options for business succession

Successionto relatives

1Succession toemployees

2M&A

3Close, liquidate,change business

4

"Family office service" which supports the succession of philosophy and values

Service by Business Succession NavigatorFor those who cannot easily choose a successor, we provide

the service of "Business Succession Navigator". Experts and experienced business successors support

decision-making through dialogue. Succession to the 3rd party

Areas of non-tangible

Synergy

Areas oftangible

Family PhilosophyI

Individual growthand development II

Management of business andfamily wealth

III

Business and otherfamily wealth

IV

FamilyGovernance

VI

Analyse issues using ART system and propose countermeasure options

Aoyama Zaisan Networks supports a wide rangePost-incident measures - Things to do post inheritance -

■Tax payment fund preparation ■Verification for effective land utilization ■Cancellation of real estate sharing■Preparation of real estate for tax payment ■Selection of construction company and verification of plan■Support of tax payment in kind ■Recruiting tenants along major roads ■Improvement of cash flow ■Heritage division planning■Arrangement of leased land and lowland ■Utilization of asset management company (corporation) ■Support for will-making■Purchase of real estate (profitable property) ■Management of treasury stock ■Adoption, gift during life■Sale of real estate and/or equivalent exchange ■Utilization of real estate specific joint venture■Support for procedure of adult guardianship ■Reorganization (replacement) of real estate ■Support for civil trust■“Korobanu saki no tsue (prevention is better than cure)” consulting service ■Utilization (regeneration) of real estate■Overseas asset management

Contributionto society

V

07 08

Real Estate Solutions / Consulting ProductsReal EstateSolution

Enriching solutions that expandthe range of consultingWe provide real estate solutions and consulting products as part of property consulting and business succession consulting.In addition to the consulting menus that address customer needs, such as buying of real estate, selling of real estate, recombination of real estate, effective utilization of real estate and consultation for leasehold issues, we also offer consulting products that utilize Specified Joint Real Estate Ventures.

Assets are formed from excellent real estate in central Tokyo which enjoys high rent levels with low risk of decline.

ADVANTAGE CLUB is a new real estate leasing system that jointly purchases properties in central Tokyo and receives profits from the lease of properties.

Specified Joint Real Estate Ventures

（a voluntary partnership based on a monetary investment method）

Regional revitalization projects

1 Has assets in central Tokyo

We own excellent properties carefully selected by our professionals from information of more than 3,000 real estate annually. Many attractive real estate properties in central Tokyo are included. The total assets managed by us total 55 partnerships of 80.12 billion yen.

2 Carefully selected real estate

All real estate rental management and troublesome operations, requiring various specialized know-how such as tenant selection, management company selection and cost management, will be handled by professionals. The investors simply own it all.

It is also possible to form a partnership with a property* selected by a customer according to their needs. Like ADVANTAGE CLUB, we will manage the partnership as Chairman, so the other members have no bother. Money or in-kind contributions can be selected. The formation of private voluntary partnerships started in 2011, and the cumulative number of partnerships is 12, while the cumulative assets managed by us are 12.68 billion yen.

3 Separation of ownership and management

1)Dividends: Real estate income, etc. 2)Transfer and redemption of equity: Capital gains, etc.3)Inheritance: Inheritance tax valuation as land/building

4 Real estate tax can be applied

Four featuresVoluntary partnership

Target real estate

Businessparticipants

Taking overmanagement work

Specified Joint RealEstate Ventures

ChairmanAoyama ZaisanNetworks

Voluntarypartnershipmembers

tenants

Form of real estate leasing may vary depending on voluntary partnership

Chuo ward

Shinagawa ward

Chiyoda ward

Minato ward

Bunkyo wardShinjuku ward

Shibuya ward

Private voluntary partnership We can form a voluntary partnership with only relatives or a limited number of members.

* Limited to properties that have cleared our standards.

Effective utilization of public real estate through a public-private alliance

Acquisition of real estate utilizing M&A mechanism

Through the effective utilization of idle land owned by local governments, we commercialize and propose investments in regional revitalization projects aimed at revitalizing local cities. As our first regional revitalization project, a special purpose company (SPC), under the Act on Specified Joint Real Estate Ventures, constructed a complex facility "Komatsu AxZ Square" in front of JR Komatsu Station in Komatsu City, Ishikawa Prefecture. The facility also contributes to the community as an emergency evacuation site. Currently, we are working on our second project in Tsuruga City, Fukui Prefecture where there is a plan to extend the Hokuriku Shinkansen in 2024. We will continue to work on regional revitalization projects to contribute to the development of local economies as part of our social contribution.

Real Estate M&A

Buying/Selling real estateNeed knowledge of real estate

General real estate transaction

Real estateBuyer

Transfer value

¥

Seller

Acompany

Buying/Selling StocksNeed wide range of knowledge such asreal estate, stocks and corporations

Real estate M&A

Shares BuyerSeller

Transfer value

¥A

company

Shareholder

“Real estate M&A” is “M&A for the purpose of acquiring real estate”. While a general real estate transaction targets real estate in kind, real estate M&A targets stocks of companies that own real estate. Compared to buying and selling real estate in kind, real estate M&A deals with stocks, so the tax treatment when selling is different. A positive feature of this approach is that there is no need to change the registration or to pay real estate distribution tax. On the other hand, the buyer may inherit unexpected debts, etc. because they acquire shares, therefore it is necessary to execute it carefully. "Real estate M&A" requires knowledge of both real estate transactions and M&A.We have professionals in the fields of tax, legal, and real estate, so we can respond to real estate M&A deals from multiple perspectives.

※The image is an illustration. There may be future changes.

Investingmoney

Acquisition

Rent

Distributionof profit

Project #2: Tsuruga Station west-side land utilization project

Project #1: JR Komatsu Station square complex「Komatsu A×Z Square」

Overseas Solutions

With overseas investment as an option, towards precise asset management An increasing number of people are starting international diversified investments with a view to targeting overseas investment as a new destination. On the other hand, there are people who hesitate to invest overseas because of the many hurdles that must be overcome, such as differences in language and business customs, to get it up and running. To give these customers peace of mind, we offer plans that meet their needs through comprehensive property consulting. In addition, we are ready to respond to various customer needs with our information capabilities, know-how, and partner strategy that are unique to our company due to our overseas subsidiaries.

The AkasakaImperial Property

Embassy of Canada

Akasaka Post Office

Sanno Medical Center

Aoyama Tower Place

Akasaka Post Officeintersection

Exit #4

AoyamaTwin Building

Honda MotorCo., Ltd

AoyamaBuilding

Park AxisAoyama 1-chome Tower

▲Shin

anomachi

Roppongi

▲

▲Shibuya

Akasaka

▲

Gaien Higashi-dori

Aoyama-d

oriJapan Na

tional Rou

te 246

Aoyama-i

tchome S

tation

We have established a nationwide network in Japan that includes leading tax accounting firms and accounting offices. Through this network, we provide consulting services to customers across Japan. As part of our expansion to global, we have established overseas subsidiaries in Singapore, and Indonesia. Going forward, we will continue working with top overseas partners and enhance our network at home and abroad.

More than 90 bases in Japan, and expanding network globallyto Asia and North America

09 10

NetworkNetwork Management Philosophy

President Masazumi Hasumi

■Head office / 3F Aoyama Tower Place, 8-4-14 Akasaka, Minato-ku, Tokyo, 107-0052■TEL / 03-6439-5800 (Switchboard)　■FAX / 03-6439-5850■Established / September 17, 1991　 ■Capital / 1.1655 billion yen■Number of employees / 252 (across group companies)

By train or by walk:3-minute walk from Exit #4 of "Aoyama-itchome Station” on the Ginza, Hanzomon, and Oedo subway lines (next to the Akasaka Post Office)□For Exit #4, please use the stairs that go up from Aoyama Twin Building B1 toward "Akasaka Post Office".

The logo mark rep re sen t s "A" Aoyama and "Z" zaisan (meaning property in Japanese). In addition, by combining A to Z, it also represents our consulting policy to support customers from start to finish.

More than

in Japanbases90

Aoyama Wealth Management Pte.Ltd.

PT Aoyama Zaisan Networks INDONESIA

Expanding

network to Asia

and North

America

“Contributing to the happinessof our customers through the succession, operation and management of property”

Management objectivesWe seek to contribute to the happiness of our customers through the succession, operation and management of property.

We are a comprehensive property consulting firm with a history of about 30 years, with the management purpose of “Contributing to the happiness of our customers through the succession, operation and management of property”. The environment surrounding our customers is undergoing major changes, and in recent years there has been an increasing need for consulting on property succession, business succession, and property management. We aim to be Japan's top comprehensive property consulting firm supported by many customers and known by "For property, Aoyama Zaisan Networks".

1We seek to ensure both the physical and mental wellbeing of the members whom we work with.2

A wish contained in the company name and logoWhile the Japanese economy was hit hard by the Lehman shock in 2008, we relocated our head office from Shinjuku to "Aoyama" in October 2009 and restarted. Then, due to the dissolution of the capital relationship with Funai Consulting Incorporated, we changed the trade name from Funai Property Consultants Co., Ltd to the current Aoyama Zaisan Networks Co., Ltd. in 2012. We changed the company name from Funai to "Aoyama" because we shifted our head office location to Aoyama and created our second beginning. We also changed “Consulting” to "Networks" due to our desire to form various networks both in Japan and overseas in order to provide high quality consulting services to our customers.

https://www.azn.co.jp/eng/google map▲

Consolidated subsidiariesNihon Shisan Souken Co., LtdComprehensive asset consulting service for personal and corporate propertyConsultant training service

Aoyama Sogo Estate Co., LtdGeneral property management (PM) including real estate solutionsRental management for our company and customer-owned properties

Aoyama Zaisan InvestmentsFinancial and accounting consulting servicesthrough CPA and tax accountants

Aoyama Zaisan Networks Kyushu Co., LtdComprehensive consulting related to business succession and property utilization

Four other companies

Aoyama Financial Services Co., LtdFinancial Instruments Intermediary Service

Aoyama Family Office Service Co., LtdConsulting in non-tangible assets fields for families owningfamily businesses

Group companiesProggest Certified Social Insurance and Consultant Office Aozora Tax Corporation Tax Corporation Zeimu Sougou Jimusho *Information is as of the end of June 2021 unless otherwise stated.