LeTech : Notice Concerning Execution of Pipeline Agreement with

	April 27, 2021
To whom it may concern:
Company Name:	LeTech Corporation
	(Stock code: 3497 TSE - Mothers)
Address:	3-3, Doyamacho, Kita-ku, Osaka
Representative:	Tetsuji Hirano,President and Representative
	Director
Contact:	Takashi Mizumukai, Director, General Manager
	of Administration Division
	TEL.+ 81-(0)6-6362-3355

Notice Concerning Execution of Pipeline Agreement with

Starwood Capital Asia Limited

LeTech Corporation (the "Company") hereby announces that it resolved at its board meeting held today that the Company and Starwood Capital Asia Limited enter into a certain pipeline agreement (the "Agreement") as follows:

1. Objectives of Agreement

The Company's Real Estate Solution business, as its main business, purchases real properties based on property information from various sources, increases their asset value by applying appropriate renovations and conversions, and supplies such properties as are required by its customers. It is now resolved that the Company and Starwood Capital Asia Limited ("SCA"), an affiliate of Starwood Capital Group of the United States, a global private investment firm focused on real estate, enter into a pipeline agreement with respect to a supply of real properties.

As a result of the Agreement, it is expected that the Company's decision-making and business-scheme structuring around the purchase and sale of properties will be expedited, larger-scale properties will be continuously developed, large and stable purchasers will be secured, and the Company's business base through a variety of structures will be enhanced.

2. Outline of Pipeline Agreement

1. With respect to any real property owned or developed by the Company, prior to the provision of information thereof to a third party, such information will be provided to SCA and Starwood Capital Group, its affiliates, and investment funds managed and sponsored by Starwood Capital or any of its affiliates (collectively, "Starwood Capital") in order for Starwood Capital to consider the acquisition of such property, and the first refusal right will be granted to Starwood Capital.
2. In the event the Company obtains information of an opportunity to acquire any property which satisfies Starwood Capital's investment criteria, the Company will provide Starwood Capital with information thereof required by Starwood Capital to consider the acquisition of such property before providing the same to a third party.
3. With the objectives of enhancing investment efficiencies, realizing investment strategies, securing sources of revenues during the current term and maximizing profits on sale, etc., the Company and SCA will jointly structure a scheme to acquire and manage existing or developed real properties other than those covered by the Agreement.

The effective term of the Agreement will initially be three (3) years from 28th April, 2021 through 27th April, 2024, which may be renewed on the same terms and conditions through the parties' mutual consultation. The targeted value of real properties to be acquired by Starwood Capital from the Company based on real property information provided by the Company will be 20 billion Japanese yen (excluding tax) in total.

3.	Outline of Counterparty to Agreement
(1) Name	Starwood Capital Asia Limited
(2) Location	Somptueux Central, 20/F,	52-54 Wellington Street,
		Hong Kong
(3) Representative	Kevin Lee
		Managing Director
		Head of Asia Real Estate
(4) Relationship between the Company and the counterparty	Capital Relationship	Not applicable
		Personal Relationship	Not applicable
		Business Relationship	Not applicable
		Status as a related party	Not applicable
4.	Future Outlook

Although the immediate impact of this transaction on the Company's business results is minor, it is considered that the transaction will benefit the increase of the Company's enterprise value in mid- and long-term basis. Amendment to this disclosure item, completion of contract execution, and any matter found in the future circumstances that should be disclosed will be promptly announced.

End of Document