Accounts Briefing Materials for
Second Quarter of TermEnding December 2017

August 30, 2017

Table of Content
 Summary of second quarter of term ending December
2017 (23rd term)Main activity in second quarter of term ending December 2017
P/L summary of second quarter of term ending December 2017
Results in segment of second quarter of term ending December 2017
B/S summary of second quarter of term ending December 2017

P.4
P.5
P.6
P.7

 2nd medium-term management plan “IDEAL to REAL 2019” Basic policy and corporate strategy
 Growth action plan: Current progress Management index, performance plan, and dividend strategy(progressive dividend policy)

P.9
P.10
P.11

 Plan for term ending December 2017 (23rd term)
Real estate sales business
Real estate lot sales business “Le JADE series”
Hotel business
Real estate leasing business
Commercial development, logistics, and other business
Commercial development business (NSC development)“(Provisional name) tonarie Yamato-Takada”
 Strategic business expansion of ES-CON JAPAN Group Information








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P.13
P.14,15
P.16
P.17
P.18
P.19
P.20
P.23

2

Summary ofSecond Quarter of TermEnding December 2017
(23rd Term)

3
Copyright ©2017 ES-CONJAPAN Ltd., All Rights Reserved

Main Activity in Second Quarter, 2017
Jan

Announcement of broadcasting of the new advertisement for “Le JADE series”

Feb

Acquisition of new commercial complex (Kitanagoya-shi, Aichi)

tonarie Seiwadai

Acquisition of new business sites (Yakumo 3-chome, Meguro-ku, Tokyo) (Kosobecho,
Takatsuki-shi, Osaka)
Sales of “Le JADE Southern Gate Toyoda” commenced
Acquisition of new logistic facility site (Kato-shi, Hyogo)
Acquisition of new commercial leaseholds (Kurashiki-shi, Okayama) (Tsukumodai,
Suita-shi, Osaka) (Daisennishimachi, Sakai-ku, Sakai-shi, Osaka)

Mar

Transfer of fixed assets of our consolidated subsidiaries
Acquisition of new business sites (Shirokane, Minato-ku, Tokyo) (Nakano, Nakano-ku,
Tokyo) (Tsujido, Fujisawa-shi, Kanagawa) (Tenjinmachi, Takatsuki-shi, Osaka)(Katasekaigan, Fujisawa-shi, Kanagawa)“Le JADE Musashino Residence” sold out
Retirement of own stock

Apr

Sales of “Le JADE Fushimi Chushojima” commenced“Park JADE Akatsuka-koen” and “Grand Le JADE Shukugawa Kurakuenguchi” sold out

Grand Le JADE Shibuya Tomigaya

Le JADE Takatsuki Cross

Le JADE Yokohama Hananoki

Le JADE Kawasaki

Shareholder special benefit plan partially amended
Acquisition of new business sites (Sanbancho, Chiyoda-ku, Tokyo) (Kobunakicho,
Omihachiman-shi, Shiga)

May

Launch of commercial facility brand “tonarie”
Sales of “Le JADE Takatsuki Cross,” “Grand Le JADE Shibuya Tomigaya” and“Le JADE Yokohama Hananoki” commenced
Agreement of land planning business agency (Genboen, Koga-shi, Fukuoka)

Jun

Sales of “Le JADE Kawasaki” commenced
Announcement of opening of hotel development business “Hotel The M Kanazawa
Uan”“Le JADE Minami Kasai Park Arena” and “Le JADE Sakurajosui Tiara” sold out
Acquisition of new commercial facility development site (Toga-Mikita Station front,
Sakai-shi, Osaka)
MetroKinki
politan
Others Total
regionarea

Condominium

6

2

-

8

Commercial

-

3

2

5

Hotel

-

1

-

1

Logistics

-

1

-

1

Total

6

7

2

1
5

No. of new business sites acquired

Hotel The M Kanazawa Uan

Copyright ©2017 ES-CONJAPAN Ltd., All Rights Reserved

4P/L in Second Quarter, 2017
Along with the progress of our core real estate lot sales business, due to the sales ofrevenue-generating real estate such as hotels and commercial facilities, profits wereincreased against both the same term in the previous year and the initial forecast.
(Unit: Million yen)

Second quarter of term Second quarter of term
ending December 2017 ended December 2016(current term)(previous term)

Amount ofincrease/decrease

Compared
Difference
Second quarter of term
tobetweenending December 2017previous
forecast(initial forecast)term
and results

Sales

11,701

12,541

-840

-6.7%

Gross profit

3,807

3,499

308

8.8%

Selling, generaland administrative
expenses

1,437

1,655

-218

-13.2%

Selling expenses

180

663

-483

-72.9%

1,256

992

264

26.6%

2,369

1,844

525

28.5%

506

437

69

15.8%

Ordinary income

1,878

1,379

499

Net income incurrent term

1,879

1,544

Earnings per sharein current term

28.35

23.04

General administrative
expenses

Operating profit
Interest expenses

Forecast
to results
ratio

Consolidated term
ending December 2017
(forecast)

12,100

-399

-3.3%

45,500

2,200

169

7.7%

5,700

36.2%

1,750

128

7.3%

4,800

335

21.7%

1,550

329

21.2%

4,400

5.31

23.0%

5
Copyright ©2017 ES-CONJAPAN Ltd., All Rights Reserved

Segment Results in Second Quarter of Term Ending December 2017
1. Real estate sales business(1) 425 real estate lot sales were made (including contracts as of Aug. 28), 79% of the 541 planned sales.
(2) Sales in businesses other than real estate lot sales increased compared to the same period a year earlier,
resulting in an increase in income and profits.
2. Real estate leasing business(3) The leasing business made steady progress as a stable revenue-generating business.

Second quarter of term
ending December 2017(current term)
Real estate sales businessInitial forecast

Forecast to
results ratio

Second quarter of term
ending December 2017(current term)

Second quarter of term
ended December 2016(previous term)

Compared tosame period in
previous term

2,732

1,861

46.8%

10,871-9.0%

10,300

-3.9%

2,157

5,194

-58.5%

2,600-17.0%

256419-38.9%

7,737

5,676

36.3%

7,700

0.5%

2,474

1,442

71.6%

Real estate leasing business

1,768

1,641

7.7%

1,700

4.0%

857

945

-9.3%

Real estate planning agency
and consulting business

37

28

32.1%

100

-63.0%

37

28

32.1%

11,701

12,541-6.7%

12,100

-3.3%

3,626

2,836

27.9%

Total

１

Compared to
Second quarter of term
ended December 2016 same period in
previous term
(previous term)

9,895

１
Condominium sales
２ Other sales
３(Unit: Million yen)Segment income

Sales

Condominium sales(Unit: Residences)

Condom inium business

Park JADE Suginami Izum i
Park JADE Akatsuka-koen

No. of residences
Initial inventory
delivered in 2nd quarter
Total no. offor term endedof term ending
residences
December 2016
December 201718
2
2

Location

Suginami-ku, Tokyo
Itabashi-ku, Tokyo

Closing inventory for
2nd quarter of term
ending December
2017
0Contract and delivery
progress as ofAugust 28 (inventory)
Sold out

1
9

1
9

0
0

Sold out

Grand Le JADE Shukugawa Kurakuenguchi Nishinomiya-shi, Hyogo

1271

Le JADE Musashino Residence

Musashino-shi, Tokyo

25

11

11

0

Sold out

Le JADE Setagaya Kinuta
Le JADE Minam i Kasai

Setagaya-ku, Tokyo

25

5

1

4

4

Edogaw a-ku, Tokyo

33

5

2

3

Sold out

Edogaw a-ku, Tokyo

35

19

18

1

Sold out

Kita-ku, Tokyo

36
33
31

-

-

-

11

42
69

-

-

-

Sold out

44
83
95
80

-

-

-

11

52

44

8

Le JADE Minam i Kasai Park Arena
Le JADE Komagom e
Le JADE Vert Komagome

Kita-ku, Tokyo

Grand Le JADE Wakam atsucho Residence
Le JADE Sakurajosui Tiara

Setagaya-ku, Tokyo

Le JADE Yokohama Hananoki
Le JADE Otsu Nagisakoen
Le JADE Fushimi Chushojim a
Le JADE Takatsuki The Marks
Le JADE Takatsuki Cross

Shinjuku-ku, Tokyo
Yokohama-shi, Kanagaw a
Otsu-shi, Shiga
Fushimi-ku, Kyoto
Takatsuki-shi, Osaka
Takatsuki-shi, Osaka

Total

No. of units for sale

Second quarter of term ending
December 2017 (current term)

541

No. of units contracted(inc. units delivered)
as of Aug. 28

425

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Achievement
rate

Sold out

5
10
36
43
Sold out
20

140

２

Other sales
Other businesses

Possession status

Business scheme

tonarie Seiwadai

Commercial facility

Sale (Bridge)

Kayabacho, Nihonbashi

Hotel

Sale

Bakurocho, Nihonbashi

Hotel

Sale

2-chome, Kawaguchi, Nishi-ku
Fukuoka Kasuga

Land planning and sales

Sale

Commercial land w ith leasehold

Sale

Fukuoka Kasuga District 7

Residential land

Sale

３

Leasing business owned properties
Leasing business (mainproperties owned)

Location

Possession status

Hakuyukai Kuzuha Hospital

Hirakata-shi, Osaka

Fixed asset

tonarie Minamisenri

Suita-shi, Osaka

Fixed asset, current asset (for sale in process)

Oak Town Yamato-Takada
Asumigaoka

Yamatotakada-shi, Nara

Current asset (for sale in process)

Chiba-shi, Chiba

Current asset (for sale in process)

Daisennishi I & II, Sakai-ku, Sakai-shi

Sakai-shi, Osaka

Current asset (for sale in process)Soyoka Fujimino
Kitatsumori

Fujimino-shi, Saitama

Current asset (for sale in process)Nishi-ku, Osaka-shi

Current asset (for sale in process)Oimatsucho, Kurashiki-shi

Kurashiki-shi, Okayama

Current asset (for sale in process)Nishishiroi

Shiroi-shi, Chiba

Current asset (for sale in process)Kakegawa
Pare Marche Nishiharu

Kakegaw a-shi, Shizuoka

Current asset (for sale in process)

Kitanagoya-shi, Aichi

Current asset (for sale in process)

78.6%

6

B/S in Second Quarter, 2017
In addition to real estate sales and commercial sites, and hotels, logistics development was launched; diverse
business sites were actively acquired.
In terms of fixed assets and inventory, consideration was given to balancing assets through transfers of commercial
projects as part of initiatives in preparation for REIT formation.
(Unit: Million yen)

Second quarter of term
ending December 2017(current term)

Term ended
December 2016(previous term)

84,45357,654

26,799Cash and deposits

7,225

8,204

-979

Real estate for sale

3,187

6,103

Real estate forsale in process

67,834Current assets

Amount ofincrease/decrease■ Assets by business type
Condominium

26,713-2,916Hotel

13,33439,31928,515

Others

1,675

7,571

16,048-8,477

Total

71,021

Tangible fixed assets

4,751

13,147-8,396

Intangible fixed assets

17

17

0

Investments andother assets

Total assets

2,802

2,883

-81

92,02473,70318,321(Unit: Million yen)

Second quarter of term
ending December 2017(current term)

Term ended
December 2016(previous term)

37,21325,492

11,721

Short-term loans

6,561

4,308

2,253

Current portion of longterm loans

24,204

16,753

7,451

40

40

0

36,94830,847

6,101

Corporate bonds

130

150

-20

Long-term loans

36,17029,784

6,386

Total liabilities

74,161

56,33917,822

Total net assets

17,862

17,363499

Current liabilities

Current portion ofbonds

Fixed liabilities

Amount ofincrease/decrease

92,024Equity ratio

19.4%

73,70318,32141%

Inventory
71 billion yen

Commercial

38%

Leasing business (mainproperties owned)

Possession status

Location

Hakuyukai Kuzuha Hospital
tonarie Minamisenri

Hirakata-shi, Osaka

Fixed asset

Suita-shi, Osaka

Fixed asset, current asset (for sale in process)

Oak Town Yamato-Takada

Yamatotakada-shi, Nara

Current asset (for sale in process)Asumigaoka

Chiba-shi, Chiba

Current asset (for sale in process)

Daisennishi I & 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)

Kitatsumori

Nishi-ku, Osaka-shi

Current asset (for sale in process)Oimatsucho, Kurashiki-shi

Kurashiki-shi, Okayama

Current asset (for sale in process)Nishishiroi

Shiroi-shi, Chiba

Current asset (for sale in process)Kakegawa

Kakegaw a-shi, Shizuoka

Current asset (for sale in process)Pare Marche Nishiharu

Kitanagoya-shi, Aichi

Current asset (for sale in process)Fixed assets(owned assets)

NOI of owned
Rental income assets(inventory + fixed assets) revenue-generating
real estate is approx.
6.5%
25.3 billion yen(Unit: Million yen)

■ Changes in new procurement andaverage procurement interest rates

92,024

New procurement

33,227

Inventory
Total assets

29,22023.6%
73,703

24.1%
23.2%

71,021
67,106

2.0%

29,958Annual averageinterest rate

1.7%

58,08850,141

19,413

19.4%

51,17745,423

1.5%

39,73935,43028,343

1.2%

27,42021,69010,142-4.2 points

4,593
Term ended Dec.
2014

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Condominiums■ Leasing business owned assets

17,752

23.6%

19%
HotelsInterest-bearing liabilities

Total liabilities andnet assets

Others29,299Commercial

Fixed assets

2%(Unit: Million yen)

Term ended Dec.
2015

Term ended Dec.
2016

Second quarter ofterm ending Dec.
2017

Term ended Dec. 2014

Term ended Dec. 2015

Term ended Dec. 2016

Second quarter of term
ending Dec. 20177

2nd Medium-Term
Management PlanIDEAL to REAL 20198
Copyright ©2017 ES-CONJAPAN Ltd., All Rights Reserved

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 withstand any
economic environment
3. Diversification of business for continuous and stable growth
4. 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 ©2017 ES-CONJAPAN Ltd., All Rights Reserved

9

2nd Medium-term Management Plan −Growth Action Plan & Current Progress
1. Further strengthening of core business
For the condominium sales business, which is our core business, instead of merely increasing thenumber of lots, we aim to provide a stable supply of 500 to 600 lots per year.
In FY2019, the final year of our 2nd medium-term management plan, we aim to completely shift the salesof 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 the conventional sales
structure.

Current progress
For our core condominium sales business,sites for FY2018 and 2019 were secured.
Currently 30 staff members are assigned
in East and West Japan, and our own
sales structure is steadily being
established.

2. Improving company value through diversification of multiple core business
While keeping the condominium sales business as our main core business, we will also establish thecommercial development business and the hotel development business as new core businesses.
In addition, we aim to diversify real estate related businesses and to become a comprehensive
developer that can repeatedly grasp business opportunities through multiple core businesses.

In addition to the condominium sales,
commercial development, and hotel
development businesses, we launched alogistics development business to ensure
steady diversification of our businesses.

3. Securing stable long-term stock revenue through active development of real estate leasing business
Through the active development of the real estate leasing business, we aim to reduce the risk of pricefluctuation of our real estate products caused by diversification of businesses, hold high-quality assetsthat 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 tohold or develop lease assets that can fully cover general administrative expenses with rental income.

Commercial and hotel, and new logistics
development is steady, and by giving
consideration to balancing with REIT andexternal sale, we will select long-term
owned assets.

4. Expansion of real estate sales business through stable supply of high-quality real estate as a main sponsor of the listed REIT formation
We aim to achieve the listing of the new investment corporation established in August 2016 on theTokyo Stock Exchange early, and as a main sponsor of the REIT’s external growth strategy, we will
ensure the stable supply of high-quality real estate with a focus on leasehold commercial facilities,
supporting sustainable growth of the REIT and expanding the real estate sales business of ourcompany.

While checking the market and otherconditions, we will continuously aim atlisted REIT formation.

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

6. Improving corporate brand power
We will implement aggressive public relations strategies and improve our corporate brand power. We
will also thoroughly pursue improvement in the quality of our condominium brand “Le JADE” in orderto gain the overwhelming trust and support of our customers, thereby improving the awareness of the
product brand.
Copyright ©2017 ES-CONJAPAN Ltd., All Rights Reserved

In addition to AM businesses, PMbusinesses such as commercial facilities,
apartment building management, and foodand beverage businesses like cafes, weplan to develop renovation businesses in
the immediate future, and will continue tomaximize the value of our real estate.
In January 2017, “Le JADE” TVCM started;
we are continuously committed to improve
our corporate brand power.

10

2nd Medium-term Management Plan −Management Index & Performance Plan
■ Management index■ Dividend policy

Term ended December
2016
22nd term

Term ending December
2019
25th term

Results

Plan

Equity ratio

23.6%

33.0% ‒35.0%

ROE (return on equity)

25.1%

18.0% ‒21.0%

ROA (return on assets)

6.0%

6.0% ‒7.0%

ROIC (return on invested capital)

6.5%

7.0% ‒9.0%

58.76 yen

75 yen‒85 yen

EPS (earnings per share)

In order to achieve a stable return to shareholders, progressive dividend policy
will be introduced for dividend per share (DPS) during the period covered by the
2nd Medium-term Management Plan (2017 to 2019), whereby the DPS of theprevious fiscal year will be set as the lower limit and, depending on the progressof business performance, either maintain or increase the DPS (“no reductions” inprinciple).
This progressive dividend policy with a clear policy of “no reductions individends, only maintained or increased” in principle is a promise of sustainableimprovement of value to all our shareholders.
By introducing this progressive dividend policy, we will strive to achieve stabledividends, enhance transparency of future dividend scales, along with further
strengthening returns to shareholders and improving sustainable company value.

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

(Unit: Million yen)

Term ended December 2016
22nd term

Term ending December 2017
23rd term

Term ending December 2018
24th term

Term ending December 2019
25th term

Plan

Plan

Performance plan
Second quarter(Results)

Results

Plan

34,347

11,70145,50057,000− 58,000

60,000− 62,000

Real estate sales business

30,687

9,895

42,70054,900− 55,800

57,800− 59,700

Real estate leasing business

3,594

1,768

2,600

1,900
− 2,000

2,000− 2,100

Real estate planning agency
and consulting business

65

37

200

200

200

Operating income

4,680

2,369

5,700

7,500
− 8,500

8,200− 9,500

Ordinary income

3,575

1,878

4,800

6,500
− 7,500

7,200− 8,500

Sales

Copyright ©2017 ES-CONJAPAN Ltd., All Rights Reserved

11Plan for Term Ending
December 2017 (23rd Term)

12
Copyright ©2017 ES-CONJAPAN Ltd., All Rights Reserved

Term Ending December 2017 − Real Estate Sales Business
1. Regarding the real estate lot sales business, sales of 541 units and 22.1 billion yen are planned mainly in the Metropolitan and Kinki areas,
and from the present term, sales in the Metropolitan area account for 51%.
In addition to hard development, to develop lifestyles we will provide competitive products through specialized planning as a “life developer.”2. By developing diverse businesses ahead of the times, we differentiate ourselves from other companies, and we budget for 20.6 billion yenother sales, a considerable increase on the previous year.
(Unit: Million yen)

■ Sales share by area

50,00042,700 (forecast for
consolidated term)

Kinki region
Metropolitan area
Others14%

Other sales

40,00046%

30,687 (results)

年
2016年
年 2016年

20,60040%

30,00024,649 (results)

9,822
20,00016,227 (results)

Condominium
business

10,21011%
6,929

20,865

10,00014,4399,895 (results)

22,100

38%

7,737

9,298

2017年
年

2,157

0

2017年
年

51%

2nd quarter of term Term ending December
Term ended December Term ended December Term ended December
2017
ending December 2017
2016
2015
2014
(Forecast)(Results)(Results)(Results)(Results)
2014 (20th term)
●
●
●
●
●
●

Le JADE IX
Le JADE Esaka
Neverland Himeji Eki-mae The Station Front
Neverland Bentencho Hagukumi-no-machi
Le JADE Shimomeguro
Le JADE Higashi-Mukojima

2015 (21st term)●(Kinki region)●(Kinki region)●(Kinki region)●(Kinki region)(Metropolitan area) ●(Metropolitan area)

The Neverland Akashi Harbor Gate
Grand Le JADE Kyoto Kawaramachi
Le JADE Kasai
Park JADE Suginami Izumi (detached houses)
Park JADE Akatsuka-koen (detached houses)

309 units(results)
309
units(results)●●●

Kobe Akamatsudai Project (commercial leasehold)
Yodogawa-ku Higashi-nakajima Project (revenue-generating real estate)
Koto-ku Hirano Project (revenue-generating real estate)2016 (22nd term)(Kinki region)(Kinki region)(Metropolitan area)(Metropolitan area)(Metropolitan area)

●
●
●
●
●
●
●
●
●
●

349 units (results)
Yao-shi Takamicho Project (commercial leasehold)
Yodogawa-ku Miyahara Project (revenue-generating real estate)
Kyoto Rokkaku Project (revenue-generating real estate)
Nishi-ku Utsubohonmachi Project (revenue-generating real estate)
Shibuya-ku Honmachi Project (land planning)Nishitokyo-shi Nishihara Project (revenue-generating real estate)2017 (23rd term)(Kinki region)(Kinki region)(Kinki region)(Metropolitan area)(Metropolitan area)(Metropolitan area)(Metropolitan area)(Metropolitan area)(Metropolitan area)(Metropolitan area)

●
●
●
●
●
●
●
●
●

Le JADE Takatsuki The Marks
Le JADE Takatsuki Cross
Le JADE Fushimi Chushojima
Le JADE Otsu Nagisa-koen
Le JADE Komagome
Le JADE Vert Komagome
Grand Le JADE Wakamatsucho Residence
Le JADE Sakurajosui Tiara
Le JADE Yokohama Hananoki(Kinki region)(Kinki region)(Kinki region)(Metropolitan area)(Metropolitan area)(Others)(Others)(Others)(Others)

●
●
●
●
●
●
●
●
●
●
●
●

Chuo-ku Hirano Project (hotel)
tonarie Seiwadai Project (commercial leasehold)tonarie Minamisenri Project (commercial leasehold)
Sakai-shi Daisen I & II Project (commercial leasehold)Nihonbashi Kayabacho Project (hotel)
Nihonbashi Bakurocho Project (hotel)
Nishi-ku Kawaguchi Project (land planning)
Sendagaya Project (revenue-generating real estate)
Kanazawa-shi Oyamamachi Project (hotel)
Sapporo-shi Project (hotel)
Kurashiki-shi Oimatsucho Project (commercial leasehold)Fukuoka Kasuga Project (land planning)

491 units (results)

349 units (results)(Kinki region)●●(Kinki region)(Metropolitan area) ●●●●Grand Le JADE Shukugawa Kurakuenguchi
Le JADE Takatsuki
Le JADE Nishitanabe Abeno Hannancho
Le JADE Yokohama Tsurumi
Le JADE Musashisakai
Le JADE Toyoda
Le JADE Minami Kasai
Le JADE Musashino Residence
Le JADE Minami Kasai Park Arena
Le JADE Setagaya Kinuta

491 units (results)(Kinki region)(Kinki region)(Kinki region)(Kinki region)(Metropolitan area)(Metropolitan area)

●
●
●
●
●
●
●
●
●

Chuo-ku Shimamachi Project (revenue-generating real estate)
Kobe-shi Nishi-ku Otsukadai Project (commercial leasehold)Takatsuki-shi Josaicho Project (land planning)
Ibaraki Tsuchiura-shi Project (commercial leasehold)
Chigasaki-shi Misumicho Project (land planning)
Fukuoka Kasuga Project (land planning)
Nagoya Sunadabashi Project (anonymous partnership investment)
Mie Nabari-shi Project (land planning)
Tochigi Nikko-shi Project (commercial leasehold)

約(Kinki region)(Kinki region)(Kinki region)(Kinki region)(Metropolitan area)(Metropolitan area)(Metropolitan area)(Metropolitan area)(Metropolitan area)

Sold out(Kinki region)(Kinki region)(Kinki region)(Kinki region)(Metropolitan area)(Metropolitan area)(Metropolitan area)(Metropolitan area)(Others)(Others)(Others)(Others)

Contracted
Com pleted

541戸予定units (forecast)541

13
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Sold out

Com pleted
Com pleted
Com pleted
Contracted
Com pleted

Real Estate Lot Sales Business:“Le JADE Series”

Le JADE Yokohama Hananoki (Metropolitan area)
Location: Yokohama-shi, Kanagawa
Access: 4 mins. walk from Maita Station on Yokohama
Municipal Subway Blue Line,
10 mins. walk from Minamiota Station, 14 mins.
walk from Idogaya Station on Keikyu Main Line
No. of residences: 69
Occupancy date: To start at end of November 2017

FY2017

Grand Le JADE Wakamatsucho Residence (Metropolitan area)
Location: Shinjuku-ku, Tokyo
Access: 3 mins. walk from Wakamatsu-kawada
Station on Toei Oedo Line
No. of residences: 31 (plus management office)Occupancy date: Immediate

Le JADE Sakurajosui Tiara(Metropolitan area)

Sold out

Le JADE Komagome(Metropolitan area)

Location: Setagaya-ku, Tokyo
Access: 4 mins. walk from Sakurajosui Station on
Keio Line
No. of residences: 42 (plus management office)Occupancy date: August 26, 2017

Le JADE Otsu Nagisakoen (Kinki region)

Le JADE Fushimi Chushojima (Kinki region)
Location: Otsu-shi, Shiga
Location: Fushimi-ku, Kyoto
Access: 11 mins. walk from Zeze Station on JR
Access: 7 mins. walk from Chushojima Station on Keihan
Tokaido Main Line,
Main Line and Uji Line
4 mins. walk from Ishiba Station on Keihan
No. of residences: 83 (plus management office)Ishiyama Sakamoto Line
Occupancy date: To start at end of November 2017
No. of residences: 44
Occupancy date: To start at end of November 2017

Copyright ©2017 ES-CONJAPAN Ltd., All Rights Reserved

Location: Kita-ku, Tokyo
Access: 6 mins. walk from
Komagome Station on JR
Yamanote Line
No. of residences: 36 (including 6 lots
not for sale)
Occupancy date: Immediate

Le JADE Takatsuki The Marks (Kinki region)

Le JADE Takatsuki Cross (Kinki region)

Le JADE Vert Komagome (Metropolitan area)

Location: Takatsuki-shi, Osaka
Access: 10 mins. walk from Takatsuki
Station on JR Kyoto Line
No. of residences: 95 (plus management
office and a library lounge)
Occupancy date: To start at end of
November 2017

Location: Takatsuki-shi, Osaka
Access: 12 mins. walk from Tonda Station, 15 mins. walk fromSojiji Station on Hankyu Kyoto Line
14 mins. walk from Settsu-Tonda Station on JR Kyoto
Line
No. of residences: 80 (plus management office and a meetingroom)
Occupancy date: To start at end of December 2017

Location: Kita-ku, Tokyo
Access: 7 mins. walk from Komagome Station on
JR Yamanote Line
No. of residences: 33
Occupancy date: To start at end of October 2017

Contracts
sold out

14

Real Estate Lot Sales Business: “Le JADE Series”
FY2018Grand Le JADE Shibuya Tomigaya (Metropolitan area)

Le JADE Southern Gate Toyoda(Metropolitan area)
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,Contractsa shop and management office)sold out
Occupancy date:
To start at end of February 2018

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: To start at end of March 2018

Le JADE Kawasaki (Metropolitan area)
Location: Kawasaki-shi, Kanagawa
Access: 17 mins. walk from Kawasaki Station on Keikyu Line,18 mins. walk from Kawasaki Station on JR Tokaido Lineand Keihin-Tohoku Line
No. of residences: 79 (plus a shop and management office)Occupancy date: To start at end of March 2018

Grand Le JADE Ochanomizu(Metropolitan area)
Location: Bunkyo-ku, Tokyo
Access: 7 mins. walk from Ochanomizu Station
on JR Chuo Line and Sobu Line,
7 mins. walk from Ochanomizu Station
on Tokyo Metro Marunouchi Line
No. of residences: 53 (including one lot for the
Le JADE Club staff)
Occupancy date: To start at end of September
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: To start at end of September
2018

FY2019● Shinjuku-ku Daikyocho Project(Metropolitan area)● Shinjuku-ku Shimoochiai Project(Metropolitan area)● Tsujido-Higashikaigan Project(Metropolitan area)● Minato-ku Shirokane Project(Metropolitan area)● Chiyoda-ku Sanbancho Project(Metropolitan area)● Honkomagome Project(Metropolitan area)● Kuzuha Project(Kinki region)● Takatsuki-shi Tenjin Project(Kinki region)
FEEL GARDEN Minamisenri (Kinki region)
Location: Suita-shi, Osaka
Access: 11 mins. walk from Senriyama Station on
Hankyu Senri Line
No. of residences: 214 (plus management office and ameeting room)
Occupancy date: To start at end of March 2018

Contracts
sold out

Mirakita City Himeji (Kinki region)

Le JADE Minamimorimachi (Kinki region)
Location: Kita-ku, Osaka-shi
Access: 6 mins. walk from Minamimorimachi Station on
Subway Tanimachi Line and Sakaisuji Line,
5 mins. walk from Osakatemmangu Station on
JR Tozai Line
No. of residences: 29● Katase Kaigan Project (Metropolitan area)● Meguro-ku Yakumo Project (Metropolitan area)● Nakano-ku Nakano Project (Metropolitan area)● Funabashi-shi Renovation Project(Metropolitan area)

Location: Himeji-shi, Hyogo
Access: 4 mins. walk from Nozato Station on JR Bantan Line
No. of residences: 143 (including 13 lots not for sale), plus food/beverageand general shops, clinic, and a library are planned
Occupancy date: To start at mid-February 2018

● Hamaotsu Project(Kinki region)●Takatsuki-shi Kosobe Project(Kinki region)● Shinkanaoka Project(Kinki region)● Kyoto Nagaokakyo-shi Project (Kinki region)

Copyright ©2017 ES-CONJAPAN Ltd., All Rights Reserved15Hotel Business

Kayabacho,Nihonbashi
Opened in December
2016
102 rooms

Sold

Bakurocho,Nihonbashi
Opened in
April 201763 rooms

Sold

Oyamamachi,
Kanazawa-shi
Scheduled for
December 201747 rooms

Hiranomachi, Chuo-ku,Osaka-shi
Opened inContracted
April 2017
96 rooms

Sapporo-shi, Hokkaido
Opened inJuly 2017
Sold
144 rooms

9 projects

Metropolitan area 3 projects
Others3 projects

Total

15 projects● Osaka-shi Chuo-ku Awajicho I
Project● Osaka-shi Chuo-ku Awajicho II
Project● Osaka-shi Chuo-ku Awajicho
III Project● Osaka-shi Chuo-ku
Minamisenba I Project● Osaka-shi Chuo-ku
Minamisenba II Project● Osaka-shi Chuo-ku
Minamisenba III Project● Osaka-shi Kitakyuhojimachi
Project● Osaka-shi Kita-ku Tsurunocho
Project● Kanazawa-shi
Horikawashinmachi ProjectContracted

Hayabusacho, Chiyoda-ku
Scheduled for Apr 2018
102 rooms
Copyright ©2017 ES-CONJAPAN Ltd., All Rights Reserved

Kinki region

16Term Ending December 2017 − Real Estate Leasing Business
Due to replacement of assets, income was down on the previous year, but as a stable revenuegenerating business, real estate leasing is proceeding smoothly as planned.
4,000

3,594
3,500

Generaladm inistrative
expenses

3,000

2,500

2,857

2,850
Rentalincom e

2,479

2,600

2,241
2,058
2,000

1,487

1,768

1,606
1,536

1,360

1,500

1,256
1,108
1,000

857
Segm ent
profit500

0Term ended
December 2014
(results)

Term ended
December 2015
(results)

Term ended
December 2016
(results)

2nd quarter ofterm
endingP

28,34326,09327,54225,337

Term ending
December 2017
(forecast)

Owned assets(inventory and fixed assets)(million yen)17
Copyright ©2017 ES-CONJAPAN Ltd., All Rights Reserved

Commercial Development, Logistics, and Other Business(Provisional name) tonarie
Yamato-Takada(Artist’s impression of thebuilding exterior)

tonarie Minamisenri (Suita-shi, Osaka)

Daisennishi, Sakai-ku, Sakai-shi, Osaka

Soyoka Fujimino (Fujimino-shi, Saitama)

Hakuyukai Kuzuha Hospital(Hirakata-shi, Osaka)

Shiroi-shi, Chiba

Daisennishi II, Sakai-ku, Sakai-shi, Osaka

Pare Marche Nishiharu (Kitanagoya-shi, Aichi)

Copyright ©2017 ES-CONJAPAN Ltd., All Rights Reserved

Oak Town Yamato-Takada (Yamato-Takada-shi, Nara)

Asumigaoka Brand-New Mall (Chiba-shi, Chiba)

Sakai-shi, Osaka (Toga-Mikita Station front)■ Logistics business
Kato-shi, Hyogo■ Land planning business
Genboen, Koga-shi, Fukuoka

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Commercial Development Business (NSC Development)“(Provisional Name) tonarie Yamato-Takada Development”
The acquired facility in 2015

As of 2017

Existing parking
lot still in use
Demolition inprogress

Kurashikanbuilding still inbusiness

Oak Town Yamato-Takada
Location: Yamato-Takada-shi, Nara
1 min. walk from Yamato-Takada Station on Kintetsu Osaka Line,
3 min. walk from Takada Station on JR Wakayama Line
Completed: November 1975 (42 years old, 2017)
Acquisition by ES-CON Japan: July 2015
A neighborhood shopping center scheduled to open in autumn 2018:
Site area: Approx. 9,226 tsubo (30,500 m2)
Successive opening of facilities during and after Stage II

After purchase, we
consulted with about
90 tenants andselected stores to beopened in the newfacility.
To the side of thedemolition site, about
30 stores centeredaround a foodsupermarket are
currently open.

Demotion work
(as of August 2017)

Large store(Development
in Stage II)

Mock-up of Initial plan
(Provisional name) tonarie Yamato-Takada(Artist’s impression of the building exterior)

In 2018, scheduled opening of a new NSC with about 70 shops.
The overall plan is for a station-front commercial area with new
facilities including a neighborhood shopping center, DIY store,
and apartment building.
Copyright ©2017 ES-CONJAPAN Ltd., All Rights Reserved

Neighborhood
shopping center(Development
in Stage I)
Apartment
building
plannedsite

19

Business Expansion of ES-CON JAPAN GroupA comprehensive developer operating a multifaceted real estate business, with the real estate lot sales business as its core,in addition to commercial development, hotel development and logistics development

IDEAL to REAL -Turning ideals into reality and creating a new futureRather than just focusing on hard development, we imagine the happiness of future residents and develop their new lifestyle.

Our renovation business
responds to the needs of thetimes, and our fee revenue
business utilizes amultifaceted businessstructure and our planningability, one of our greatstrengths
Aiming for REIT formation for Group
companies
Contributing to our country’s issue of “fromsavings to investment” through our Group’s
development and operational abilities

Renovation

Real estate

Investment
application

IDEAL to REALLife developer

As our core business, we willpropose competitive andspecialized product plans, andprovide a stable supply of 500
to 600 units annually, mainly
around the Metropolitan area
and Kinki region

Landplanning

Redevelopment

Responding to inbound needs by developing
hotels in major cities throughout the country inpartnership with hotel operatorsHoteldevelopment
Revenuegenerating
real estatedevelopment
Creating new living spaces,
making use of our planningability and know-how
developed in the real estate
sales business
Copyright ©2017 ES-CONJAPAN Ltd., All Rights Reserved

Commercial
development

Management

PM

Operation
We aim to be an unrivaled
comprehensive developer possessing
operational functions suited to the
purpose of any real estate project

Making maximum use of our know-how as acomprehensive developer and ourmultifaceted business construction capability,
proposing new urban development and livingby means of long-term land planning andredevelopment projects

Logistics

Diversifying
business throughnew initiatives

Making maximum use of our commercial development
achievements, experience and know-how in the Fukuoka Kasuga
Project, to engage in commercial leasehold development
Launching our own commercial brand “tonarie” series

20

Memo

21
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Memo

22
Copyright ©2017 ES-CONJAPAN Ltd., All Rights Reserved

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
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