Japan's Comforia Residential REIT Inc. said Nariaki Hosoi will step down as director March 31.

The landlord of multifamily residences will propose the election of Kazushi Sato as director, effective April 1, to its shareholders.

Sato will concurrently take on the position of managing director and chief division officer at Activia Properties Inc.'s asset manager, Activia Management Division of TLC REIT Management Inc.