August 2, 2019
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ES-CON Japan Ltd.
Takatoshi Ito, President &Representative Director(TSE 1st Section, code: 8892)
Minoru Nakanishi, Senior
Managing Director+81-6-6223-8055

Notice on Participation in Condominium Development Project inBangkok Metropolitan Region, Thailand
ES-CON Japan Ltd. (hereinafter “ES-CON Japan”) announces that it has decided to participate in a for-salehousing development project (hereinafter the “Project”) undertaken by Origin Property PCL (hereinafter“Origin”), a real estate developer in Thailand, in Samut Prakan, a neighboring province of Bangkok, thecapital of Thailand. Details are as follows.
The Project will be ES-CON Japan’s first overseas for-sale housing development project.
1. Background and purpose
The Project involves a development project of the condominium “KNIGHTSBRIDGE SUKHUMVIT
THEPHARAK” undertaken by Origin in Samut Prakan Province located approximately 12 kilometers
southwest of central Bangkok. ES-CON Japan will participate in the Project through its subsidiary ESCON
JAPAN (Thailand) CO., LTD.
The condominium to be developed under the Project will have a total of 474 residential units and oneshop space, and will be located a 1-minute walk from Thipphawan Station of the Mass Rapid Transit (MRT)scheduled to open in 2021. It will stand in an area with commercial facilities, international schools, etc. inthe surrounding area, which is expected to develop further with the construction of MRT extending from
central Bangkok.
The co-operator, Origin, is a leading listed developer in Thailand established in 2009, and has expandedbusiness significantly in recent years centering on its for-sale housing business, gaining high recognition inThailand.
The housing market in the Bangkok Metropolitan Region of Thailand has seen stable growth backed bypopulation increase, rise in income of the middle-income bracket, and other factors, and thus housing
demand is expected to continue growing going forward. ES-CON Japan has had a vision of developing
businesses not only in Japan but also abroad as a new business area, eyeing its further growth in the future.
Such has led to its first participation in a condominium development project overseas this time around.
Furthermore, parallel to its participation in the Project, ES-CON Japan made a commitment to the Gate City
Bangkok Mezzanine Fund (hereinafter the “Fund”), a mezzanine finance fund investing in condominium
development projects in Bangkok, Thailand, in which Mercuria Investment Co., Ltd. (hereinafter “MercuriaInvestment”), an investment management company, has invested and taken on a role in fund management.
Mercuria Investment is an investment management company conducting investment across all borders through1its extensive network in the industrial world and investment industry, and under a basic concept of “cross border”
to encourage challenging without being tied down by national borders or preconceived ideas it mainly invests ingrowing fields and growth potential spreading around the world based on advantages that are exclusive to Japan.
ESCON Japan believes that the Fund in which it will invest is a beneficial investment instrument since central
Bangkok and its surrounding area have strong demand for development of condominiums for local people withmiddle or high income against the backdrop of stable economic growth of Thailand and urbanization of Bangkok.
ES-CON Japan will continue to focus its endeavors on developing new business fields with an eye on the nextera, and shall globally implement a multifaceted real estate business that can contribute to the society.
2. Project overview
Knightsbridge Sukhumvit-Thepharak PJAddress
Bang Mueang Mai, Mueang Samut Prakan, Samut Prakan 10270 Thailand
1.74 km from Samrong Station on BTS
Access1-minute walk from Thipphawan Station on the MRT Yellow Line (Scheduled to openin 2021)
Site area
3,016 m2
Total floor area
25,891.52 m2
Exclusive area
13,799.00 m2
Floors (planned)
36F/B1
Total number of units
Residential units: 474(planned)
Shop: 1
Planned completion
April 2021【Graphic rendering of the property】

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【Opening ceremony】

3. Overview of the Fund and subsidiary
Fund overview
Fund nameCommitment amountFund overview

Gate City Bangkok Mezzanine Fund
500 million yen (equivalent)
Mezzanine fund investing in condominium development projects in Bangkok, Thailand

Subsidiary overview

Subsidiary name
Address
CapitalEstablishment
Director

ESCON JAPAN (Thailand) CO., LTD.
Room 184, 18th Floor, Thai CC Tower, 43 South Sathorn Rd., Yannawa, Sathorn,
Bangkok 10120 Thailand
1,000,000 baht (as of July 31)
July 2019
Kentaro Okamoto

4. Impact on operating results
The impact of the investment on ES-CON Japan's operating results for the current fiscal year is currently
negligible.

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