Kenedix Retail REIT Corporation (KRR) announced that the Board of Directors of Kenedix Real Estate Fund Management Inc. (the Asset Manager), the asset manager for KRR, has resolved to change Retail REIT Department's organization. The Asset Manager has also decided to add and change its important employees. The Changes are intended to apply to Retail REIT Department only and there is no impact on the management structure other than Retail REIT Department. Regarding Fund Management Division (Fund Management Div.), Retail REIT Department of the Asset Manager, the Asset Manager changes its organization (the Organizational Change) with the expansion of assets under management. Divide Fund Management Div. into Asset Management Division (Asset Management Div.), Retail REIT Department, which is responsible for the asset management of KRR, and Property Management Division (Property Management Div.), which is responsible for the property management of KRR's properties.

The company appointed Jun Suzuki as Head of Property Management Division, Retail REIT Department and appointed Hideaki Kimura, Head of Fund Management Division, Retail REIT Department, as Head of Asset Management Division, Retail REIT Department.