Teikoku Real Estate Co., Ltd. (Headquarters: Ginza, Chuo-ku, Tokyo; President and CEO: KINOMOTO Kiyonori; hereinafter referred to as "Teikoku Real Estate") held the "Reiwa 8 Tax System Revision Seminar" on Saturday, June 13, 2026, at its Ginza headquarters. The Reiwa 8 tax system revision is expected to significantly revise the inheritance tax valuation method for rental properties, which could impact inheritance planning for real estate owners. A total of 28 groups and 38 owners participated in the seminar, followed by free individual consultations with tax accountants. Five groups participated in the individual consultations, indicating a high level of interest in the system revision. ■ Background of the Event The Reiwa 8 tax system revision is expected to revise the valuation method for certain rental properties acquired within five years before inheritance or gift. As this could affect inheritance planning strategies that have been utilized until now, Teikoku Real Estate held this seminar as part of its information provision to owners. ■ Main Topics Covered in the Seminar At the seminar, Mr. UKAJI Seiichi, Representative Partner Tax Accountant of Shibuya Tax Accountant Corporation, a specialist in asset taxation such as inheritance, served as the lecturer. The seminar focused on the revision of inheritance tax valuation due to the Reiwa 8 tax system revision, covering the following themes: Background and latest trends in the increasing number of individuals subject to inheritance tax How the valuation method for rental properties will change The "Individual 5-Year Rule" where the valuation changes depending on the acquisition period of the property Differences with corporate ownership and the concept of the "Corporate 3-Year Rule" Revision of valuation for fractional real estate investment products and its impact Tax perspectives on excessive tax-saving measures Considerations for "acquisition period" and "ownership method" that will be important in future inher