Japan Rental Housing Investments Inc. has executed an interest-rate swap agreement to fix the interest rate for the JPY 4 billion (remaining loan period: 7 years and 8 months), which refinanced on March 22, 2017, out of the existing bank borrowings as a hedge against possible increase of the interest rates in future. Pay a fixed interest rate of 0.1915% receive a floating interest rate is base rate. First interest payment on August 22, 2017, and at 22nd of every month. Commencement Date is July 24, 2017 and termination Date is March 24, 2025.