Membership Composition

The Association is made up of two types of members who agree with the Association's objectives and have been approved by the Board of Directors

Regular Members

Those eligible for membership in this category are entities that run or about to launch the business of real estate securitization, or entities that invest in real estate and real estate securitization products, and meet all the requirements set below:

• Licensed, authorized or registered under the Real Estate Transaction Law, Trust Business Law / Act on Provision of Trust Business by Financial Institutions, Banking Law, Insurance Business Act, Financial Instruments and Exchange Act*, or Real Estate Investment Advisory Business Registration (General).
  *Relevant businesses in the Act are Type I Financial Instruments Business, Type II Financial Instruments Business, Investment Advisory and Agency Business, and Investment Management Business including Investment Trust Management Business.
• Have a capital of 100 million yen or more, or an equal or superior business base.
• Notwithstanding the above requirements, acknowledged by the board of the Association that the entity will contribute to the Association’s activities.
• Have a reference from at least two Regular Members of the Association.

Associate Members

Those eligible for membership in this category are entities that run the business relevant to the real estate securitization, and also meet the requirement set below:

• Have a reference from at least one Regular Member of the Association.

Membership fees and annual fees

Regular Members

Initial Fee: 3 million yen
Annual Fee: 2.5 million yen

Associate Members

Initial Fee: None
Annual Fee: 400,000 yen per unit
*However, 500,000 is applied for entities that correspond to any of the following:

• Registered under the Financial Instruments and Exchange Act as Type 1 Financial Instruments Business, Type II Financial Instruments Business, Investment Advisory and Agency Business, or Investment Management Business including Investment Trust Management Business.
• Permitted, registered, or have made a filing under the Real Estate Syndication Act.

Services and Benefits

Regular Members

• Eligibility to attend all general meetings with voting rights.
• Eligibility to attend committees, seminars and workshops held by the Association.
• Privilege to receive publications and the Association magazines.
• Privilege to receive various information on a priority basis.

Associate Members

• Receive reports of the activities of committees.
• Eligibility to attend seminars held by the Association with a special rate (excluding some seminars).
• Privilege to receive publications and the Association magazines.
• Privilege to receive various information.

Inquiries

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