Briefing on results for2nd quarter of term
ending December 2018
August 22, 2018www.es-conjapan.co.jp

Table of Contents
 Summary of 2nd Quarter of Term Ending December 2018
(24th Term)
Main Activities in 2nd Quarter of 2018
P/L in 2Q 2018
Segment Results for 2nd Quarter of Term Ending December 2018
B/S in 2Q 2018

P. 4
P. 5
P. 6, 7P. 8

 2nd Medium-Term Management Plan IDEAL to REAL 2019
Basic Policy and Corporate Strategy
Growth Action Plan & Current Progress
Management Index, Performance Plan, & Dividend Policy(Progressive Dividend Policy)

P.10
P.11
P.12

 Plan for Term Ending December 2018 (24th Term)
Real Estate Sales BusinessCondominium Sales Business “Le JADE Series”
Hotel Development Business
Retail development business, logistics business, land planning business
Real Estate Leasing Business
Strategic Business Expansion of ES-CON JAPAN Group
Information

Copyright ©2018 ES-CONJAPAN Ltd., All Rights Reserved

P.14
P.15, 16
P.17
P.18
P.19
P.20, 21P.22

2

Summary of 2nd Quarter ofTerm Ending December 2018
(24th Term)

Copyright ©2018 ES-CONJAPAN Ltd., All Rights Reserved3

Main Activities in 2nd Quarter of 2018
January● No. of new business sites acquired in 2Q of Fiscal Year Ending December
Acquisition of treasury stock
2018 (January‒June 2018)
All units in Le JADE Minamimorimachi, Le JADE
Metropolitan
Kinki
Takatsuki Cross, and Le JADE Kawasaki sold
Other
Total
area
regionParticipation in planning of Neolife Kuzuha
Condominium
4
913
Condominium Rebuilding Project1
1
Acquisition of site for Genboen redevelopment HotelLand planning project1
1
project in Koga, Fukuoka

February

All units sold in Grand Le JADE Okamoto and Le JADE Vert Komagome
Acquisition of new business sites (Sawaraginishi, Ibaraki-shi) (Miyanocho, Takatsuki-shi)(Masumicho, Ikeda-shi)

MarchAcquisition of new business sites (Hamaotsu 3-chome, Otsu-shi)(Shinkanaoka, Kita-ku, Sakai-shi) (Matsubara, Setagaya-ku)(Hinokuchi, Nishinomiya-shi)
Sales commence for Grand Le JADE Jiyugaoka.
Details of growth strategies added to Medium-Term Management Plan IDEAL to REAL
2019

April

Acquisition of new business sites (Yasuicho, Nishinomiya-shi) (Aoba-ku, Yokohama-shi)(Kumata, Higashisumiyoshi-ku)
Sales commence for Grand Le JADE Shonan Enoshima R134.

May

Sales commence for Le JADE Nagaokakyo, Grand Le JADE Takatsuki Tenjin,
Le JADE Takatsuki Kosobe, and Le JADE Bio Funabashi Kitanarashino.
Le JADE Bio renovation business launched.
Acquisition of new business site (Kotoen, Nishinomiya-shi)
All units sold in Grand Le JADE Wakamatsucho Residence and
Le JADE Otsu Nagisakoen
Work commences on Hyogo Tojo Interpark (tentative name) logistics
facility project.
Tokyo Minato Ward Shirogane joint project (tentative name)with Mitsubishi Jisho Residence Co., Ltd. announced.

June

All units sold in Le JADE Fushimi Chushojima
Acquisition of new business sites (Shimotakaido 4-chome, Suginami-ku)(Nakasu 5-chome hotel project, Hakata-ku) (Zaimokuza, Kamakura-shi)
Projected consolidated results for Fiscal Year Ending December 2018
revised upward; increase in expected dividend
Five Company-owned hotels soldJuly

All units sold in Le JADE Komagome
Acquisition of new business sites (Okurayama, Kohoku-ku)(Honjonishi, Kita-ku) (commercial leasehold, Shiroishi-ku, Sapporo-shi)
Upward revision to projected consolidated results for 2Q of Fiscal YearEnding December 2018
Efforts to promote ZEH-M commence.

Total

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4

9

2

15

4

P/L in 2Q 2018
Both sales and profits increased from the previous term, driven byprogress in our core condominium sales business and sales ofhotels and other revenue-generating real estate.
Both sales and profits grew from the initial plan.
(Unit: Million yen)

2Q, term ending
December 2018
(term under review)

2Q, term ended
December 2017(previous term)

Amount ofincrease/decrease

Compared
to previous
term

2Q, term ending
December 2018
(initial plan)

Difference
between planand results

Plan toresults ratio

24,400236

1.0%55,000

2,950

735

24.9%

11,300

Full term ending
December 2018
(forecast)

Sales

24,636

11,701

12,935110.5%

Gross profit

6,336

3,807

2,529

66.4%

Selling, general andadministrative expenses

2,651

1,437

1,214

84.5%

Selling expenses

1,206

180

1,026

570.0%

General adm inistrative expenses

1,445

1,256

189

15.0%

3,685

2,369

1,316

55.6%

492

506

-14

-2.8%

Ordinary income

3,178

1,878

1,300

69.2%

2,400

778

32.4%

10,200Net income in current term

2,148

1,879

269

14.3%

1,650

498

30.2%

7,000

Earnings per share in current
term

31.55

28.35

3.20

11.3%

Operating profit
Interest expenses

New
recordprofits
Copyright ©2018 ES-CONJAPAN Ltd., All Rights Reserved

5Segment Results for 2nd Quarter of Term Ending December 2018
1

2

We made steady progress with our condominium sales business. We sold 371 condominiums as ofthe end of the second quarter, or 63.4% of the full-year forecast.
Sales of condominiums were up dramatically (624.2%) year on year (from 44 units sold as of theend of 2Q last term to 371 units sold as of the end of 2Q this term).
Completed inventories declined from 89 units at the end of December 2017 to 10 units at the end of
2Q of the term ending December 2018.
As in the preceding term, sales of hotel properties contributed to profits.
(Unit: Million yen)Sales
2Q, term ending
December 2018
(term under review)

2Q, term ended
December 2017(previous term)

Segment income

Compared toprevious term

Initial plan

Plan to results
ratio

2Q, term ending
December 2018
(term under review)

2Q, term ended
December 2017(previous term)

Compared toprevious term

Real estate sales business

22,7869,895

130.3%

22,900

-0.5%

3,889

2,732

42.3%

1
Other sales
2
Real estate leasing business
3

15,621

2,157

624.2%

15,750

-0.8%

2,142

256

736.7%

7,165

7,737

-7.4%

7,150

0.2%

1,746

2,474

-29.4%

1,525

1,768

-13.7%

1,350

13.0%

932

857

8.8%

324

37

775.7%

150

116.0%

308

37

732.4%

24,636

11,701110.5%

24,400

1.0%

5,130

3,626

41.5%

Condominium sales

Real estate planning agency andconsulting business
Total

Sales

1

Condominium sales

Amount(millions yen)

Units sold2Q, term ended December 2017(previous term)

44

2,157

2Q, term ending December 2018
(term under review)

371

15,621

Copyright ©2018 ES-CONJAPAN Ltd., All Rights Reserved

6Segment Results for 2nd Quarter of Term Ending December 2018
1

(Unit: Residences)

Condominium sales

Total no.
Initial inventoryoffor term ended
residences December 2017

Location

Le JADE Komagome

Kita-ku, Tokyo

Le JADEVert Komagome

Kita-ku, Tokyo

Grand Le JADE Wakamatsucho Residence

Shinjuku-ku, Tokyo

Le JADE Yokohama Hananoki
Le JADE Otsu Nagisakoen

Yokohama, Kanagaw a

Le JADE Fushimi Chushojima
Le JADE Takatsuki Cross
Le JADE Southern Gate Toyoda
Le JADE Kawasaki
Feel Garden Minamisenri

Fushimi-ku, Kyoto

Grand Le JADE Shibuya Tomigaya
Le JADE Minamimorimachi
Grand Le JADE Ochanomizu
Grand Le JADE Okamoto
Grand Le JADE Jiyugaoka

Shibuya-ku, Tokyo

Le JADE Nakano
Le JADE Nagaokakyo
Le JADE Bio Funabashi Narashino

Nakano-ku, Tokyo

Otsu, Shiga
Takatsuki, OsakaHino, Tokyo
Kaw asaki, Kanagaw a
Suita, Osaka
Kita-ku, Osaka
Bunkyo-ku, Tokyo
Higashinada-ku, Kobe
Meguro-ku, Tokyo
Nagaokakyo, Kyoto
Funabashi, Chiba

No. of units
delivered in 2Q,
term ending
December 2018

Contract andClosing inventory fordelivery progress
2Q, term ending
as of August 20
December 2018
(inventory)

36
33
31
69
44

7
2
5
29
8

6
2
5
21
8

1
0
0
8
0

Sold out

83
80
52
79
107

31
7
-

31
7
52
79
107

0
0
0
0
0

Sold out

25
29
53
18

-

24
29
-

1
0
-

23
25
35
50

-

-

-

19

89

371

10

73

Total

1
No. of units
for sale

Sold out
Sold outType

Horikawashinmachi,
Hotel
Kanazawa
Hotel
Minamisenba III, Chuo-ku
31 Wakamatsucho,
Revenue-generating real estate
Shinjuku-ku
Apartments
Sendagaya, Shibuya-ku

Business
schemeSales(millions yen)

Sale

2,030

Sale

1,850

Sale

1,968

Sale

1,317

Achievementrate

No. of units
contracted/delivered asof August 20

Achievement
rate

371

63.4%

512

87.5%

1

2Q, term ending
December 2018
(term under review)

Sold out
Sold out

585

Sold out
Sold out
Sold out

1

1
Sold out
2
Contracts signed for all units

2Q, term ending December 2018 Tokyo metropolitan
area(results for term under review)
Units delivered

Kinki
region

Total

189

182

371

4,820

3,578

4,211

24
1

Price per unit (10,000 yen)25

2
Other sales

No. of units delivered
as of the end of 2Q

Term ended December 2017 (results)

1
2

2Q

Full term

Term ending December 2018
2Q (results for term
under review)

Full term (forecast)

Condominium project profit margin

11.9%

12.2%

13.7%

14.3%

Non-condominium project profit margin

31.9%

25.9%

24.4%

34.2%

*Project profit margin: Net sales minus cost of sales (not including personnel costs)

3
Leasing business(major owned properties)

Location

Kansai Medical University Kuzuha Hospital

Hirakata, Osaka

Fixed asset

Mitani, Nishi-ku, Kobe

Nishi-ku, Kobe

Current asset (for sale in process)Tonarie Yamatotakada

Yamatotakada, Nara

Current asset (for sale in process)Asumigaoka

Chiba, Chiba

Current asset (for sale in process)

Daisennishi II, Sakai-ku, Sakai-shi

Sakai-shi, Osaka

Current asset (for sale in process)Soyoka Fujimino

Fujimino-shi, Saitama

Current asset (for sale in process)Ikaruga, Ikoma-gun

Ikoma-gun, Nara

Current asset (for sale in process)Omihachiman

Omihachiman, Shiga

Current asset (for sale in process)Nishishirai

Shirai-shi, Chiba

Current asset (for sale in process)Kakegawa

Kakegaw a-shi, Shizuoka

Current asset (for sale in process)

Chiba Oyumino

Chiba-shi, Chiba

Current asset (for sale in process)Toga-Mikita

Sakai-shi, Osaka

Current asset (for sale in process)Pare Marche Nishiharu

Kitanagoya-shi, Aichi

Current asset (for sale in process)Possession status

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3

Term ended December 2017 (results)
2Q
Leasing business project profit margin

Full term

48.5%

50.9%

Term ending December 2018
2Q (results for term
under review)

61.1%

Full term (forecast)

60.6%

7

B/S in 2Q 2018
We took the initiative in acquiring sites for a wide range of businesses beyond
condominiums, including hotels and land planning projects.
(Unit: Million yen)
2Q, term ending December
2018 (term under review )Current assets

Term ended December
2017 (previous term)

Increase/decrease

97,31080,504

Cash and deposits

13,534

10,667

Real estate for sale

4,865

4,162

Real estate forsale in process

73,47060,057

4,796

5,930

Tangible fixed assets

1,722

1,729

-7

Intangible fixed assets

23

28

-5

3,050

4,173

-1,123102,107

86,435

15,672

Fixed assets

16,806

 Projects by business for realestate sales

Condominiums
2,867 Retail703 Hotel
Logistics
13,413 Land planning
Total projects-1,134

Rental income assets(inventory + fixed assets)

16.9 billion yen

Investments andother assets

Total assets

 Assets by business type
(Unit: Million yen)

30 Condominium
15 Commercial
7
Hotel
1
Others1

33,807

54

78,335

Total

28,17014,357
1,998

The NOI for owned revenuegenerating real estate isapproximately 5.7%

(Unit: Million yen)
2Q, term ending December
2018 (term under review )Term ended December
2017 (previous term)

Increase/decrease

Current liabilities

40,38732,664

7,723

Short-term loans

6,425

1,953

4,472

Current portion of
long-term loans
Current portion ofbonds(Unit: Million yen)

25,381

22,462

2,919

40

40

0

39,44832,337

7,111

Corporate bonds

290

110

180

Long-term loans

38,79731,874

6,923

Total liabilities

79,83565,002

14,833

Total net assets

22,272

21,433839

Total liabilities andnet assets

102,107

86,435

15,672

21.8%

24.8%

-3.0 points

Fixed liabilities

Equity ratio

Copyright ©2018 ES-CONJAPAN Ltd., All Rights Reserved

 Changes in new procurement andaverage procurement interest rates(Unit: Million yen)

8

2nd Medium-Term
Management PlanIDEAL to REAL 2019

Copyright ©2018 ES-CONJAPAN Ltd., All Rights Reserved

9

2nd Medium-term Management Plan − Basic Policy and Corporate Strategy
Basic Policy

IDEAL to REAL 2019
Turning ideals into reality andcreating a new future.
We will follow our basic policy of putting our customers first, fully accomplishing
our mission as “Life Developers” who develop the living styles of our customers,
and continuing to evolve and grow as a company indispensable to society.

Corporate Strategy
1.

Maximization of company value and returns to shareholders

2.

Construction of a firm management foundation that can withstandany economic environment

3.

Diversification of business for continuous and stable growth4.

Construction of a firm management foundation (quality), rather than
expansion of company size (quantity)

5.

Fulfillment of corporate social responsibility to return not only toshareholders but also to all stakeholders and society

Copyright ©2018 ES-CONJAPAN Ltd., All Rights Reserved

10

2nd Medium-term Management Plan − Growth Action Plan & Current Progress
Improving company value throughdiversification of multiple corebusiness

Securing stable long-term stock revenue
through active development of realestate leasing business

Expansion of real estate sales business throughstable supply of high-quality real estate as amain sponsor of the listed REIT formation

For the condominium sales business, which
is our core business, instead of merely
increasing the number of lots, we aim toprovide a stable supply of 500 to 600 lots
per year.
In FY2019, the final year of our 2nd
medium-term management plan, we aim tocompletely shift the sales of condominiums
to our own sales structure, further acquiring
our customers’ trust and improving the
profit ratio by internalizing the sales
expenses that had been flowing out in theconventional sales structure.

While keeping the condominium sales
business as our main core business, wewill also establish the commercial
development business and the hotel
development business as new corebusinesses.
In addition, we aim to diversify real estate
related businesses and to become acomprehensive developer that canrepeatedly grasp business opportunities
through multiple core businesses.

Through the active development of the realestate leasing business, we aim to reduce
the risk of price fluctuation of our realestate products caused by diversification ofbusinesses, hold high-quality assets that
produce stable long-term rental income,and further improve the management
stability.
Specifically, at the end of FY2019, the final
year of our 2nd medium-term management
plan, we aim to hold or develop leaseassets that can fully cover generaladministrative expenses with rental income.

We aim to achieve the listing of the newinvestment corporation established inAugust 2016 on the Tokyo Stock Exchange
early, and as a main sponsor of the REIT’s
external growth strategy, we will ensure thestable supply of high-quality real estatewith a focus on leasehold commercial
facilities, supporting sustainable growth of
the REIT and expanding the real estate
sales business of our company.

For our core condominium sales business, wesecured sites sufficient for about 800 units foreach of the next two years (FY2019, FY2020).
We are making steady progress in expanding
our own sales force, which currently numbers
around 34. The project profit margin is also
increasing steadily (from 11.9% in theprevious term to 13.7% in the current term).

To ensure steady diversification of ourbusinesses beyond the condominium sales,
commercial development, and hotel
development businesses, we ventured into
new domains, including logistics development
and land planning projects.

In the commercial development business, weare strengthening NSC development efforts
based on strong ties to local communities. We
are identifying assets suitable for holding
long-term to strike a balance with assets for
the REIT and assets to be sold to third parties.

Last year, we completed a capital increase in
ES-CON JAPAN REIT Investment Corporation
as a privately held REIT with assets worth
around 11 billion yen. Steady progress isunderway to prepare for listing on the REIT
market.

Improving corporate brand power

ESG initiatives to create new value
and achieve sustainable growth

Current
progress

Further strengthening of corebusiness

Current
progress

Expanding the range and depth of real estatedevelopment capabilities through enhancementof real estate operation businessWe aim to be a peerless comprehensive
developer that not only develops realestate but also possessing operational
function suited to the utility form of the realestate.
Specifically, in addition to AM businesses
and PM businesses such as commercial
facilities, we will actively engage in the
management of hotels, food and beveragebusinesses such as cafés, apartmentbuilding management and renovation
businesses of our group companies,
maximizing the value of real estates in theprocess.

We will implement aggressive public
relations strategies and improve ourcorporate brand power. We will also
thoroughly pursue improvement in thequality of our condominium brand “LeJADE” in order to gain the overwhelming
trust and support of our customers, thereby
improving the awareness of the productbrand.

We’re committed to enhancing corporate
value by putting customers first andaccounting for the needs of society,governance, and the environment. Throughour urban development efforts, we rise tomeet the changing values of these times andstrive to address, as a life developer
responsible for creating living spaces, theissues confronting society.

In addition to the AM business, the PM
business of commercial facilities, theoperation of cafés and other food andbeverage businesses, and apartment building
management, we have launched a renovation
business. In this and other ways, we intend tocontinue to maximize the value of our realestate.

We are continuing to air TV ads for the Le
JADE brand as a sponsor for popular TV
shows. We intend to continue focusing onstrengthening our corporate brand.

As a new growth strategy, we are currently
focusing on efforts to be the first company inthe real estate industry to secure a GRESB
rating.

Copyright ©2018 ES-CONJAPAN Ltd., All Rights Reserved

E: Pursuing proactive initiatives to help solve global environmental
issues and business activities that provide safe, comfortable lives
and help establish sustainable societies
S: Establishing management foundations to achieve stable growthand meet our corporate social responsibilities in local
communities
G: Enhancing our approach to governance companywide basedon the Corporate Governance Code11

2nd Medium-term Management Plan − Management Index & Performance Plan
We made steady progress in this second year of our Medium-term Management Plan (2018), setting a
new record for profits. Ordinary income reached the 10 billion yen level for the first time ever.
We plan to increase dividends by 6 yen to 26 yen per share.
 Dividend policy

 Management index
Term ended December
2016
22nd term

Term ended December
2017
23rd term

Term ending December
2019
25th term

Results

Results

Plan

Equity ratio

23.6%

24.8%

33.0% ―35.0%

ROE(return on equity)

25.1%

28.1%

18.0% ―21.0%

ROA(return on assets)

6.0%

6.8%

6.0% ―7.0%

ROIC(return on invested capital)

6.5%

8.4%

7.0% ―9.0%

58.76 yen

81.77 yen

75 to 85 yen

EPS(earnings per share)

To provide even more stable returns to shareholders, we have adopted a progressive dividend
policy for the period covered by the 2nd Medium-term Management Plan (2017 to 2019). Under
this policy, the dividend per share (DPS) must be equal to or greater than the DPS for theprevious term. In other words, our basic stance is not to cut dividends.
This progressive dividend policy, which clearly states that we will maintain or increase
dividends, not reduce them, represents a promise to shareholders to enhance our value in asustained manner.
By introducing this progressive dividend policy, we will strive to achieve stable dividends,
enhance transparency of future dividend scales, along with further strengthening returns toshareholders and improving sustainable company value.

 Dividend trend
Term ended December
2016
22nd term
Results

Term ended December
2017
23rd term
Results

15

18

20

Dividend payout ratio

25.5%

22.0%

22.7%

Acquisition of treasury
stock

429

449

-

-

36.8%

30.9%

-

-

Dividend (yen)*ROIC (return on invested capital): Net operating profit after tax / (Shareholders' equity + Interest-bearing liabilities)

Total payout ratio

Term ending December 2018
24th term
Initial plan

New plan[+6]26[+2.3%]

25.0%(Unit: Million yen)

Performance plan

Term ended December
2016
22nd term

Term ending December
2017
23rd term

Results

Results

Term ending December 2018
24th term

Initial plan

Difference inplans (2)-(1)Initial plan (1)Term ending December 2019
25th term

Revised (June 29) plan (2)Plan

2Q (results)

34,34744,72457,000−58,000

55,700-700

55,00024,63660,000−62,000

Real estate sales business

30,687

41,16854,900−55,800

52,600-1,15051,45022,78657,800−59,700

Real estate leasing business

3,594

3,459

1,900
−2,000

2,900

400

3,300

1,525

2,000
−2,100

65

96

200

200

50

250

324

200

Operating income

4,680

7,042

7,500
−8,500

9,900

1,400

11,300

3,685

8,200
−9,500Ordinary income

3,575

5,988

6,500
−7,500

8,700

1,500

10,200

3,178

7,200
−8,500

Sales

Real estate planning, brokerage,
and consulting businesses

Copyright ©2018 ES-CONJAPAN Ltd., All Rights Reserved

12Plan for Term Ending
December 2018
(24th Term)

Copyright ©2018 ES-CONJAPAN Ltd., All Rights Reserved

13Term Ending December 2018 − Real Estate Sales BusinessIn condominium sales, we sold 371 condo units worth 15.6 billion yen (59.7% of sales plans) in 2Q and plan 585 units worth 26.1 billion yen for the full term.
We expect an even split of sales between the Tokyo Metropolitan and Kinki areas.
We also plan to book sales of 25.3 billion yen from other real estate, primarily hotels. All planned projects at this time are either sold or contracted for.
60,00051,450(full-term forecast)

50,000 Sales share by area
Kinri
region近畿圏
Metropolitan
首都圏
area

16%

Other
その他

Other sales

48%

41,168 (results)
40,00025,30036%
201730,687 (results)
30,00020,00024,649 (results)

21,668
9,822

22,786 (results)

10,21010,00014,4397,165
20,865

19,5005%
Condominium
business

26,15047%

48%

15,621
2018

0(Unit: Million yen)

Term ended

2015年12月期
December 2015
(Results)（実績）

Term ended

2016年12月期
December 2016
(Results)（実績）

Copyright ©2018 ES-CONJAPAN Ltd., All Rights Reserved

Term ended

2017年12月期
December 2017
(Results)（実績）

2Q, term ending

2018年12月期
December 2018
(Results)
第2四半期
（実績）

Term ending
2018年12月期
December
2018(Forecast)
（予想）

14

Condominium Sales Business “Le JADE Series” Fiscal 2018

Grand Le JADE Shibuya Tomigaya(Metropolitan area)

Le JADE Southern Gate Toyoda(Metropolitan area)

Le JADE Kawasaki(Metropolitan area)

Location: Shibuya-ku, Tokyo
Access: 5 mins. walk from Yoyogi-Koen Station
on Tokyo Metro Chiyoda Line
5 mins. walk from Yoyogi-Hachiman Station on
Odakyu Odawara Line
No. of residences: 25 (plus management office)Occupancy date: March 31, 2018

Location: Hino-shi, Tokyo
Access: 2 mins. walk from Toyoda Station on JR
Chuo Line
No. of residences: 51 (including 7 lots not for sale),plus one shop and management office
Occupancy date: February 24, 2018

Location: Kawasaki-shi, Kanagawa
Access: 17 mins. walk from Kawasaki Station on Keikyu Line18 mins. walk from Kawasaki Station on JR Tokaido/Keihin-Tohoku
Line
No. of residences: 79 (plus one shop and management office)Occupancy date: March 24, 2018

Sold out

Grand Le JADE Ochanomizu(Metropolitan area)

Sold out

Grand Le JADE Jiyugaoka(Metropolitan area)

Location: Bunkyo-ku, Tokyo
Location: Meguro-ku, Tokyo
Access: 7 mins. walk from Ochanomizu Station
Access: 13 mins. walk from Jiyugaoka Station on Tokyu Toyoko/Tokyu
on JR Chuo/Sobu Lines
Oimachi Lines
7mins. walk from Ochanomizu Station on Tokyo
No. of residences: 23 (including five units for Le JADE Club members)
Metro Marunouchi Line
Occupancy date: Slated to start late December 2018
No. of residences: 53 (including one unit for Le
JADE Club member)
Occupancy date: Slated to start late September 2018

Le JADE Nakano(Metropolitan area)

Le JADE Bio Funabashi Kitanarashino (renovation project)(Metropolitan area)

Feel Garden Minamisenri(Kinki region)

Location: Nakano-ku, Tokyo
Access: 13 mins. walk from Nakano Station on JR Chuo/Sobu Lines
13 mins. walk from Nakano Station on Tokyo Metro Tozai Line
12 mins. walk from Higashi Nakano Station on JR Chuo/Sobu Lines
11 mins. walk from Higashi Nakano Station on Toei Oedo Line
No. of residences: 25 (including five units for Le JADE Club members)
Occupancy date: Slated to start late December 2018

Location: Funabashi-shi, Chiba
Access: 9 mins. walk from Kitanarashino Station on
Toyo Rapid Railway Line
7 mins. walk from Narashino Station on Shin Keisei Dentetsu Line
No. of residences: 50 (plus one management office)Occupancy date: Slated to start late December 2018

Location: Suita-shi, Osaka
Access: 11 mins. walk from Senriyama Station on Hankyu Senri Line
No. of residences: 214 (plus management office, meeting room, etc.)
Occupancy date: March 24, 2018

Sold out

Le JADE Minamimorimachi(Kinki region)

Sold out

Location: Kita-ku, Osaka-shi
Access: 6 mins. walk from Minamimorimachi
Station on Tanimachi Subway Line/Sakaisuji
Subway Line
5 mins. walk from Osaka Tenmangu Station on
JR Tozai Line
No. of residences: 29
Occupancy date: June 26, 2018

Grand Le JADE Okamoto(Kinki region)
Location: Higashinada-ku, Kobe-shi
Access: 3 mins. walk from Okamoto Station
on Hankyu Kobe Line
2 mins. walk from Settsu-Motoyama Station
on JR Kobe Line
No. of residences: 18 (plus management
office and a shop)
Occupancy date: Slated to start lateNovember 2018

Contracts
sold out
Le JADE Nagaokakyo(Kinki region)
Location: Nagaokakyo-shi, Kyoto
Access: 4mins. walk from Nagaokakyo Station on JR Tokaido
Main Line
9 mins. walk from Nagaoka Tenjin Station on Hankyu Kyoto Line
No. of residences: 35
Occupancy date: Slated to start late December 2018

Copyright ©2018 ES-CONJAPAN Ltd., All Rights Reserved

15Condominium Sales Business “Le JADE Series” Fiscal 2019
Fiscal 2019

Grand Le JADE Shonan Enoshima R134
(Metropolitan area)

Grand Le JADE Sanbancho(Metropolitan area)

Location: Fujisawa-shi, Kanagawa
Access: 9 mins. walk from Katase Enoshima Station on Odakyu Enoshima Line
9 mins. walk from Shonan Kaigan Koen Station on Enoshima Dentetsu Line
No. of residences: 24 (including 2 lots not for sale)
Occupancy date: Slated to start late March 2019

Mirakita City Himeji(Kinki region)

Location: Himeji-shi, Hyogo
Location: Chiyoda-ku, Tokyo
Access: 4 mins. walk from Nozato Station on JR Bantan Line
Access: 9 mins. walk from Ichigaya Station on
No. of residences: 143 (including 13 units not for sale)Tokyo Metro Yurakucho/Nanboku Lines and Toei
Occupancy date: Slated to start mid-February 2019
Shinjuku Line
12 mins. walk from Ichigaya Station on JR
Chuo/Sobu Lines
9 mins. walk from Hanzomon Station on Tokyo Metro
Hanzomon Line
No. of residences: 19
Occupancy date: Slated to start late September 2019

Le JADE Takatsuki Kosobe(Kinki region)
Location: Takatsuki-shi, Osaka
Access: 15 mins. walk from Takatsuki Station on JR Kyoto Line
14 mins. walk from Takatsuki-shi Station on Hankyu Kyoto Line
No. of residences: 181 (plus one management office, one grand kitchen [conference room], one owners’
library, one indoor park, and one guest room)
Occupancy date: Slated to start late September 2019

Fiscal 2020

Le JADE Kuzuha Condominium
Redevelopment Project(Kinki region)
Grand Le JADE Takatsuki Tenjin(Kinki region)

Le JADE Shinkanaoka Park Fields(Kinki region)

Location: Takatsuki-shi, Osaka
Location: Sakai-shi, Osaka
Location: Kobe-shi, Hyogo
Access: 7 mins. walk from Takatsuki Station Access: 4 min. walk from Shinkanaoka Station on the Osaka Metro Midosuji Line
Access: 3 min. walk from Sumakaihin Koen Station on the JR Kobe Lineon JR Kyoto Line
No. of residences: 204 (plus one management office, one guest room, one party
No. of residences: 30 (plus management office)17 mins. walk from Takatsuki-shi Station on
room and library/conference room)
Occupancy date: Slated to start late September 2019
Hankyu Kyoto Line
Occupancy date: Slated to start late October 2019
No. of residences: 28 (plus management
 Otsu-shi Hama-Otsu 3-chome Project
office)(Kinki region)
Occupancy date: Slated to start late June 2019

 Fujisawa-shi Tsujido Higashi Kaigan Project(Metropolitan area)

 Kamakura-shi Zaimokuza Project(Metropolitan area)

 Ibaraki-shi Sawaraginishi Project(Kinki region)

 Setagaya-ku Todoroki 7-chome Project(Metropolitan area)

 Hino-shi Tamadaira Project(Metropolitan area)

 Otsu-shi Uchidehama II Project(Kinki region)

 Suginami-ku Shimotakaido (A) Project(metropolitan area)

 Nakano-ku Nakano (detached home) Project(metropolitan area)

 Nishinomiya-shi Yasui-cho Project(Kinki region)

Copyright ©2018 ES-CONJAPAN Ltd., All Rights Reserved

Location: Hirakata-shi, Osaka
Access: 16 min. walk from Kuzuha Station on
the Keihan Main Line
No. of residences: 78 (including 31
residences not for sale)
Occupancy date: Slated to start late February
2020

Le JADE Sumakaihin Koen
(Kinki region)

 Minato-ku Shirogane Project(metropolitan area)

 Nishinomiya-shi Kotoen Project(Kinki region)

 Shinjuku-ku Daikyocho Project(metropolitan area)

 Nishinomiya-shi Hinokuchi Project(Kinki region)

 Setagaya-ku Matsubara Project(Metropolitan area) Takatsuki-shi Miyanocho Project(Kinki region)

 Yokohama-shi Aoba-ku Utsukushigaoka
5-chome Project (Metropolitan area)

 Higashi-Sumiyoshi-ku Kumata Project(Kinki region)

 Yokohama-shi Kohoku-ku Okurayama
Project (metropolitan area)

 Ikeda-shi Masumicho Project(Kinki region)

16

Hotel Development Business

Kayabacho,Nihonbashi
Opened in December 2016
102 rooms
Sold

Hayabusacho, Chiyoda-ku
Opened in in April 2018
102 rooms
Contracted

Bakurocho,Nihonbashi
Opened in April 2017 Sold
63 rooms

Horikawa Shinmachi,
Kanazawa-shi
Opened in April 2018
Sold
121 rooms

Hiranomachi, Chuo-ku,
SoldOsaka-shi
Opened in April 2017
96 rooms

Awajicho I, Chuo-ku,
Contracted
Osaka
Opened in May 2018
168 rooms

Sapporo-shi, Hokkaido
Opened in July 2017
144 rooms

Awajicho II, Chuo-ku,
Contracted
Osaka
Opened in June 2018
168 rooms

Sold

Oyamamachi, Kanazawa-shi
Opened in December 201747 rooms

Kitakyuhojimachi,
Contracted
Osaka
Opened in June 2018
182 rooms

 Nakasu 5-chome Project, Hakata-ku
Timing of commencement to be
determined

Sold
Minamisenba III,
Chuo-ku, Osaka-shi
Opened in January 2018
100 rooms

Sold

Tsurunocho, Kita-ku,
Contracted
Osaka-shi
Slated for November
2018
134 rooms

Nagahoribashi Station
Slated for December
2018
96 rooms● Numbers of hotel projects

Awajicho III, Chuo-ku,
Osaka
Slated for Feb. 2019184 rooms

Minamisenba I, Chuoku, Osaka-shi
Slated for May 2019
256 rooms

Copyright ©2018 ES-CONJAPAN Ltd., All Rights ReservedTokyo
metropolitan
area

Kinki
Region

Other

Total

Sold

2

2

3

7

Sales contract signed

1

4

Other
Total

3

5

3

1

4

9

4

16

17

Retail development business, logistics business, land planning business

Mitani, Nishi-ku, Kobe-shi

Soyoka Fujimino(Fujimino-shi, Saitama)(Provisional name) tonarie Yamato-Takada(Yamato-Takada-shi, Nara) (Artist’s impression of
the building exterior) above and above rightPare Marche Nishiharu(Kitanagoya-shi, Aichi)

Hyogo Tojo Interpark (Kato-shi, Hyogo)(Artist’s impression of the building exterior) above
Copyright ©2018 ES-CONJAPAN Ltd., All Rights Reserved

Former Oak Town
Yamato-Takada
photo below(Provisional name) tonarie Toga-Mikita (Sakai-shi, Osaka)(Artist’s impression of the building exterior)

Shiroi-shi, Chiba

Koga-shi Genboen land planning project (Koga-shi,
Fukuoka)
Left: aerial photo
Right: Current site plan, conditions of neighboring land

Asumigaoka Brand-New Mall (Chiba-shi, Chiba)18Term Ending December 2018 − Real Estate Leasing Business
Due to a turnover in assets, income is expected to be slightly lower than in theprevious year. However, project profit margin has increased steadily from 50.9%
last year to 60.6% this year.
We will continue to focus on this business that generates stable revenues.

Generaladministrative
expenses

Rental income

Segment profit(Unit: Million yen)

Term ended
December 2015
(Results)

Term ended
December 2016
(Results)

Term ended
December 2017
(Results)

27,542

16,91026,093Copyright ©2018 ES-CONJAPAN Ltd., All Rights Reserved

2Q, term ending
December 2018
(Results)

16,930Term ending
December 2018
(Forecast)

Owned assets(inventory and fixed assets)(million yen)
* Book value at end of term; excludes
assets sold during the term

19

Strategic Business Expansion of ES-CON JAPAN GroupOur business efforts primarily target the Tokyo metropolitan area and the Kinki area. We will consider branchingout into development work in major cities nationwide in the future.
In the sphere of commercial development, we are currently at work developing projects in major cities acrossJapan and their environs. We are also focusing on NSC development projects with close ties to local communities.
Our hotel development business is active in major cities across Japan.
We also launched efforts in the logistics and land planning businesses and plan to intensify efforts in these areas.
 Current state of development by area

As of August 8, 2018
 Condominiums: approx. 9,805 units(approx. 7,874 units in Kansai region; approx. 1,931 units in Kanto
region) Detached houses/housing land development: approx. 700 sections
 Commercial development etc.:
Acquiring and developing properties throughout the country Hotel development: acquisition of land for over approx. 2,060 rooms
Developing in Tokyo, Osaka, Hokkaido, Kanazawa, and Fukuoka

Hokkaido
Hotel: 1 project

Hokuriku
Hotel: 2 projects

Kansai
Condominiums: 135 buildings
Hotel: 9 projects
Commercial facilities (including
leasehold): 8 projects
Logistics facilities:
1 project

Kanto

Chubu
Commercial facilities:
1 project

Condominiums: 43 buildings(including 1 renovation project)
Hotel: 3 projects
Commercial facilities (including
leasehold): 4 projects

We will maintain our focus on the
Kansai region, which promises
market vitalization thanks to theplanned exposition, IR, etc.
We will focus on continuing growthin the vast Tokyo metropolitan area.

We will seek to identify
globalization strategies,
including overseas
development.

KyushuHotel: 1 project
Large complex development
Logistics facilities: 1 project
Large complex development: 1 project

Copyright ©2018 ES-CONJAPAN Ltd., All Rights Reserved

20Strategic Business Expansion of ES-CON JAPAN GroupA comprehensive developer operating a
multifaceted real estate business revolving about acore focus on real estate business, in addition tocommercial development, hotel development,
logistics development, land planning,and other businesses.

IDEAL to REAL
-Turning ideals into reality and creating a new future Beyond the development of tangible structures, wework to strengthen the satisfaction of future residents
and to create new lifeways.

Logistics
development

Hoteldevelopment

Operations

Land
planning

Solar
power

Commercial
development

International
business

Condominiums
Assetmanagement

Condominium
management

Investment
application
Property
management

Copyright ©2018 ES-CONJAPAN Ltd., All Rights Reserved21

Thank You!
Information
ESCON Japan Ltd.
Email: ir@escon.jp
Tokyo12th Floor, Try Edge Ochanomizu, 4-2-5 Kanda Surugadai,
Chiyoda-ku, Tokyo 101-0062☎03-5297-6161

Osaka
13th Floor, Meiji Yasuda Seimei Building, 4-1-1 Fushimimachi,
Chuo-ku, Osaka 541-0044☎06-6223-8055

ESCON JAPAN Official Instagram, Facebook
Instagram,Facebook
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22

Memo

Copyright ©2018 ES-CONJAPAN Ltd., All Rights Reserved

23

Copyright ©2018 ES-CONJAPAN Ltd., All Rights Reserved