Our real estate business starts with the identification and acquisition of well-located sites, with no preconceptions regarding their ultimate use. We subsequently develop and manage the properties across all real estate asset classes for private equity investment. Working closely with partner contractors with the best project-specific qualifications, we plan and implement developments to maximize the unique advantages of each location, supervising every phase of every project from start to finish.

In recent years, our real estate development business has enjoyed robust growth, accounting for 60% of the Company’s total sales in FY 2006 (ended March 2007). Building on these achievements, we will continue to specialize in developing and managing high-asset-value properties for private equity investment, as well as for our own account.