Annual Report
Fiscal Year Ending Dec. 31, 2019【English Summary】

3452 TSE, First Section

Feb.21,2020

Building a Robust Business Base and Stable Growth
in a Changing Environment

To Our Shareholders

To All Stakeholders:Ever since our founding, B-lot has pursued profits and long-term growth as a company greatly

needed by society by creating valuable new businesses in real estate and real estate finance.
Looking back at 2019, we felt the real estate industry reached a turning point, where thecompanies well-trusted by financial institutions and business partners could enjoy greater
success than others.

We saw this as a good opportunity, and we have tried to differentiate ourselves fromcompetitors by sticking to the following two points.

▶
▶

Work on each project with integrity and sincerity
Commit to results as professional’s

Going forward, we will not only work to expand our existing businesses, but also diversify

ourselves to create new business pillars. We will do so by rigorously enforcing compliance andsustaining corporate culture that promotes honesty and integrity.

We will continue to develop in unity, drawing on our strengths of taking on new challenges,

flexibly adapting to changes, creatively devising solutions, and building networks.
B-Lot Co., Ltd.
President

Makoto Miyauchi

We look forward to your continued support of B-Lot.

Revenue and Profit Trends
30,0002019.5 Acquired 50% stake

YOKOHAMA SEIEN
2018.2

TSE 1st Section

25,1302,843

2018.4 M&A

T&K Group(JPY in Millions)

20,2672018.4 Established

2,428

B-Lot CL

Revenue
売上高
当期純利益
Profit for the period

2016.4 M&A

2017.1 M&A

Life Stage

Viento Creation
13,0971,960

2016.7 Established2015.2 EstablishedOsaka

B-Lot AM

11,6262015.5 Established

1,250

B-Lot SG

6,950

2014.12TSE Mothers IPO

3,709

2011.4 Established2008.10 Established

B-Lot

Hokkaido
Branch588

2013.9 Established400

Fukuoka Branch

Earnings
Forecast176

2009/12. 2010/12. 2011/12. 2012/12. 2013/12. 2014/12. 2015/12. 2016/12. 2017/12. 2018/12. 2019/12. 2020/12.

B-Lot Channel, Now Streaming!
Epoch

B-Lot

MOVIE

「B-Lot Channel」「History of B-Lot」

YouTubeSearchReturns for Shareholders

Increased Dividends
in Consideration of Internal reserves
Doubleor moreYear-end
dividend
Per share

8.5 yen
11 %12 %FY2016/12

FY2017/12*1

Dividend payout
ratio

19.5 yen

50 yen20 %FY2018/12

Increase in the Number of Shareholders

FY2019/12

60 yenTotal yield onpurchase of 100
shares

3.44%

*2

*3

20%

*1: Year-end dividend = adjusted for stock split in January 2018
*2: Dividends = To be discussed at the Ordinary Shareholders
Meeting scheduled for March 2020
*3: Total Yield =(Amount equivalent to shareholder benefits + Annual
dividend)/(Closing price on December 30, 2019 x 100 shares)

FY2019/12

Shareholder Benefits

number ofshareholders

Reached ten times moreshareholders than at the time of
our initial public offering

4,745
3,878

1,647

1,629

1,769

487

2014/122015/122016/122017/122018/122019/12

Record Date

December 31, 2019

Shares held

100 shares (one unit) or more

QUO card

1,000 yenⅠ. Performance Review

Ⅰ. Performance Review
Ⅱ. Business Summary
Ⅲ. Company Profile

P.05-9
P.10-22
P.23-34

･･･FY2019/12･･･

Ⅰ-１. Summary

Achieved nine consecutive years of growing sales and profits.
Consolidated net income surged 23.9% year on year.
Reached a record high of 19.9B JPY in the total balance of properties for sale.
Property acquisition was steady thanks to our extensive track record andbusiness network.
Successfully completed a record high transaction, the sale of 4 properties to
one investor, which boosted the earrings.
Diverse disposition strategies increased opportunities.
Developed new business areas and created synergies with existing businesses.
We have expanded our business by building strong relationships with partnercompanies.
B-Lot Co., Ltd. All rights reserved. 6

･･･FY2019/12･･･

Ⅰ-2. Performance Highlights〜 Achieved KPI of 20% Net Profit Growth 〜
Revenue

25,130JPY in Millions(JPY in Millions)UP

24.0％YOY
1.9

times in
3 years

25,00025,130

UP

3,525

1.8

times in
3 years

3,500
3,000

Net Profit

24.4％YOY

JPY in Millions(JPY in Millions)

20,26720,000Ordinary
Income

2,428

2,832

23.9％YOY

JPY in Millions(JPY in Millions)

3,525

UP

1.9

2,500

times in
3 years

2,000

1,960

2,428

2,500
15,0002,000

13,097

1,500

1,998

1,250

1,500

10,000

1,000

1,000
500

5,000
500
-

2017/122018/122019/122017/122018/122019/122017/122018/122019/12

B-Lot
Co., Ltd.
All rights
reserved. 7 as net profit.
Note: In this presentation, net profit
attributable
to shareholdersof parent
is shown

･･･FY2019/12･･･

Ⅰ-3. Consolidated P/L / B/S Summary

Profit Growth Driven by Investment & Development and Consulting Businesses.
Consolidated P/L Summary

Revenue(1) Real Estate Investment
and Development business(2) Real EstateConsulting business(3) Real EstateManagement business(JPY in Millions)

FY2018/12

FY2019/12

20,267

25,13024.0％

17,20821,185

23.1％

Consolidated B/S Summary

YoY change(JPY in Millions)

FY2018/12

FY2019/12

24,26833,555

38.3％

Current Assets

21,65929,881

38.0％

AssetsYoY change

1,037

1,249

20.4％

2,021

2,695

33.3％

Fixed Assets

2,573

3,650

41.8％

Gross Profit

5,797

6,980

20.4％

Deferred Assets

34

23△31.8％

SG&A

2,490

2,995

20.3％

18,242

25,401

39.2％

Operating Income

3,307

3,985

20.5％

3,039

3,896

28.2％

Current Liabilities

6,057

11,093

83.1％

282

577

104.3％

Fixed Liabilities

12,185

14,308

17.4％

Net Assets

6,025

8,154

35.3％

Total Liabilities
and Net Assets

24,26833,55538.3％(1) Real Estate Investment
and Development business(2) Real EstateConsulting business(3) Real EstateManagement business
Other (company-wide
expenses)

901

679

△24.7％△917△1,16827.4％

Ordinary Income

2,832

3,525

24.4％

Net Profit for the Period

1,960

2,428

23.9％

Liabilities

The above revenue does not include internal transactions between segments.
Notes: Consolidated BS, P&L: B-lot Capital Link Co.,Ltd. is included in the
B/S, P/L from FY2019.
B-Lot Co., Ltd. All rights reserved. 8

･･･FY2019/12･･･

Ⅰ-４. Data (Reference Material)
EPS & BPS
1,000

1,020.82

１株当たり当期純利益金額（円）EPS ( JPY in Millions )40.0

ROE, ROAROE (%)
ROE（％）ROA (%)ROA（％）

35.0

１株当たり純資産額（円）
BPS ( JPY in Millions )

12.0

39.3
36.6
34.4

32.3

800

756.83

9.0

30.0

8.4
25.3

25.0
600

520.55400

20.0

366.89313.26251.65200

148.87
95.84
34.48

40.59

22.4

7.0

17.6

56.30

4.5

4.4

Average ROEof competitors

10.0

2013/12 2014/12 2015/12 2016/12 2017/12 2018/12 2019/12

Capital to Asset Ratio

Profit Ratio
8,141
24.6

7,000
6,000

21.0

24.3

24.3

16.4

18.6

3,000

2,818

15.0

11.5

16.3

15.9

9.8

10.2

8.2

8.0

15.3
10.1

14.0

14.0

10.0
9.4

10.0
5.0

2,000
977

18.1

15.0
20.0

4,008
2,430

Noi Ratio (%)
営業利益率（％）
Ordinary Profit Ratio (%)
経常利益率（％）

20.0

25.0

5,974

17.0

5,000

30.0

7.5

5.0

417

0

0.0
2013/12 2014/12 2015/12 2016/12 2017/12 2018/12 2019/12

4.0

0.0

0.0

Capital to Asset Ratio (%)
自己資本（百万円）
Net Worth ( JPY in Millions )自己資本比率（％）

6.0

2.0

5.0

75.29

8.0

5.3

2013/12 2014/12 2015/12 2016/12 2017/12 2018/12 2019/12

8,000

1,000

23.5

162.77

0

4,000

5.6

15.0

305.9510.0

0.0
2013/12 2014/12 2015/12 2016/12 2017/12 2018/12 2019/12
B-Lot Co., Ltd. All rights reserved. 9

Ⅱ. Business Summary

Ⅰ. Performance Review
Ⅱ. Business Summary
Ⅲ. Company Profile

P.05-9
P.10-22
P.23-34

･･･FY2019/12･･･

Ⅱ-1.Real Estate Investment and Development Business

Properties By Type *Business profit was 3.8B JPY(+28.2% YoY)
Revenue
売上高
営業利益
Operating Profit

土地to be developedLand

21,185( JPY in Millions )

3,896
1
3

3,039

9,977
2,316

6,137
3,236

839

7

2016/122017/122018/122019/12

Increase in Equity led to Increase in Real Estatefor Sale and Revenue in this Business
自己資本（単位：百万円）
EquityCapital
販売用不動産Real Estate for （仕掛含む）
Sale( JPY in Millions )Nursing
介護施設
Care Facility
Logistics
太陽光

Photovoltaic
物流施設 Power Plant

8

2

1

19,903

１

8,141

２

5,974

3,403
2,430

2,818

2015/122016/12Secured a 4.3B JPY Syndicated Loan

• We secured approximated 1.5x the last year’s loan
• amount from 14 financial institutions.
• As a result, we will be able to respond flexibly to large
new investments without collateral.

Unsecured Working Capital ,Significant Increase・4.5B JPY (Balance in December 2019 , Excludes
Syndicated Loan Above).

4,008

2017/12FY2019/12

Strengthening Cooperation with Financial
Institutions to Secure Flexible Funding

11,358

6,069

2014/125

11*Bulk deal is calculated as one.

14,500
11,392

977

3

Type
as of completion
建築予定用途FY2018/12
2015/12

Hotel
ホテル・宿泊関連989

464
2014/12

28件

9

25件

住宅系
Residence

2 1

5

21

事務所・店舗Office,Retail2

1

17,208
10,980*B-Lot Only

・2.0B JPY (From Shimane Bank in January 2020).
2018/122019/12

B-Lot Co., Ltd. All rights reserved. 11

Record High Transaction, Sale of 4 Properties Worth 8.0B JPY
Highlights

High
Profitability▶ Closed the largest transaction in the

FY2019company’s history▶ Started the new relationship with thelarge institutional investor, the buyer▶ Accumulated expertise in logistics
properties▶ Employed a new disposition strategy ofselling properties in bulk

Osaka ／ Logistics

Kyoto ／ Hotel

Handled products
large enough to beacquired by large
institutional investors
Tokyo ／ ResidenceTokyo ／ Residence

B-Lot Co., Ltd. All rights reserved. 12

Medium- to Long-Term; M&A Projects Paid Off
１ January 2017

Real Estate M&A

・Acquired Viento Creation.
・Owned capsule hotels (in Ebisu andGotanda, Tokyo)
・Hired Viento’s employees to continue
business.

2

Revitalization

Accumulation of Extensive
Knowledge and Experience
・Adopted new ways of acquiring realestate.
・Improved quantity and quality of
personal.
・Strengthened networks with partners inother industries

3

Completed Sale of°C Ebisu

・ Recorded profit on sale of the capsulehotel in Ebisu.
・ Continue to own hotel in Gotanda.

Accumulation of Revitalization
Expertise・Enhanced value and reused capsulehotels.
・Improved design quality and occupancy
rates.
・Solved legal issues and negotiated with
Stakeholders.

November 2019

BeforeAfter

Issues in business succession for Japanese top management
Personal guarantee forNO.1 borrowings

Understanding of directors andNO.2 employees
NO.3

Finance for acquiring shares

Source: Small and Medium Enterprise Agency, The Tokyo Chamber of Commerce and Industry,“Summary of Survey on Business Succession”

Solving problems by drawing
on our strengths of accumulated
experience and knowledge
B-Lot Co., Ltd. All rights reserved. 13

Differentiation of Acquired Facilities Based on Concept
Playing to the fullest
like a wise owl
Shibuya

Kyoto

Sapporo▶ 98 Beds▶ Spring.2017▶ 138 Beds
▶ March.2020▶ 146 Beds
▶ June.2020

Completion

Completion

Randor Residential Hotel Sapporo Suites

Residential Hotel: Stay That Feels Like Home

Completion & OpenedMedium-to Long-term stayFurniture, appliances, kitchen, luxury spa bath,and washing machine (some rooms)

For Families and Groups
Up to 8 people in one room, 66 rooms in total, and
37㎡-58㎡

Barrier-Free
Handrail, call string installation (some rooms)

Good Location
7-minutes walk from Susukino.

Entertainment hostel
themed around“food and travel”

Newly Built
Completed in May 2019; opened in June 2019

Create attractive products, steps
ahead of competitors
B-Lot Co., Ltd. All rights reserved. 14

Upcoming Properties
FukuokaDevelopment / ResidenceTokyo

Development / Residence

Fukuoka

Revitalization / Residence※These plans may change in the future.

NagoyaDevelopment / Residence

Kamakura

Development / Nursing Care Facilities
B-Lot Co., Ltd. All rights reserved. 15

･･･FY2019/12･･･

Ⅱ-2. Real Estate Consulting BusinessBusiness profit was JPY577M (+104.3% YoY).
売上高
Revenue
営業利益
Operating Profit

1,277(JPY in Millions)

1,249

M&A

Support for Establishing WealthManagement Company

Seller

Provided M&A Brokerage Service

Brokerage

Buyer

1,037

577
Sold a company owning four properties

767
408
345
282
197

171

78

57

2014/12.

2015/12.

2016/12.

2017/12.

2018/12.

2019/12.

Segment summary
１

2Profit Growth• Revenue and operating profit from commissioned
sales for residential condominiums rose.

Continuously Received Orders for
M&A brokerage and Outsourcing
Projects.

▶ Supported Buyer in Establishing Wealth Management

Company.
Provided Consultation on Effectively Building Wealth.

▶ Completed Smooth Transaction

Through Collaboration With Experts.

Growing Demand for Individual Needs
Diversified
Investment

Inheritance
Strategy

Asset
Replacement

Supporting Wealth Management
B-Lot Co., Ltd. All rights reserved. 16

･･･FY2019/12･･･

Ⅱ-3. Real Estate Management BusinessBusiness profit was JPY679M (-24.7% YoY).
売上高
Revenue
営業利益 profit
Operating

T&K

Managing of Wakasu Golf Links,
commissioned by the
Tokyo Metropolitan Government

2,695(JPY in Millions)

2,021

901
642
275
88

283

2014/12.

2015/12.

881

838

458

443

2016/12.

2017/12.

679

Initiatives for Regional Revitalization andValue Enhancement
2018/12.

2019/12.

Segment
summary
総括
１

Increase in Sales But Decrease in
Profit• Consolidation of T&K boosted revenue(from Q3 FY12/18)• Progress in sales of properties for sale resulted indecrease in rent income.

2【No.4】

Steady Increase in Asset Management (AM)and Property Management (PM) Businesses.

AM
PM

Providing One-Stop Services for
Investment Opportunities
2016 Acquisition of Land▼2018 Completed &Opened▼2019 Sold to an Investor
company
連鎖取引から
Long-Term
Supports
長期継続的なfor
WealthManagement
資産運用サポートAM・・・Asset management PM・・・Property management

B-Lot Co., Ltd. All rights reserved. 17

“Company Strongly Needed by Society”
Toward Long-Term Growth and Stability

Creating a Reliable Real Estate Investment Market
for Individual Investors“B-Lot Crowd Funding,” a Crowdfunding Service for Real Estate Investments＆✔Extensive Track Record
with Investors, Including
High-Net-Worth✔Expertise in various typesof Properties✔Broad customer basewith over 5.13 million online
accounts

B-Lot Co., Ltd.
President Makoto Miyauchi

Investment

Investment

Investors

Dividend

SBI SECURITIES Co.,Ltd.
President Masato Takamura✔Strong network with
regional financial institutions

Purchase
ManageRent , Sale

High-Quality andStable Properties
B-Lot Co., Ltd. All rights reserved. 19

Medium- to Long-Term; Pursue M&A Deals

Owners ofcompanies

Advantages of Selling
Financial Strength and Good
１ Reputation as TSE 1st Section Listed
Company.

2

Teamwork-Oriented Management Style,
Making Good Use of Unique Individual
Strengths.

3 Quick Decision Making.

Convert to Liquid Funds and１ Eliminate Personal Guarantees.
Gain Employee Understanding and

2 Solve Succession Problem.
3

Business Continuity, Expansion and

Further Development of the Company.

〜 Track Record of Our Own M&A Transactions 〜
2016.4 Sales of Residential
Condominiums

2017.1 Ownership andOperation of Capsule Hotels

2018.4 Operation and Consulting of
Golf Courses
B-Lot Co., Ltd. All rights reserved. 20

Columbarium Re-opening, Showcasing the Skills ofWorld-Class Masters！

Design × Food

Mr. Kengo Kuma
Makoto Miyauchi

Mr. Tsutomu Ochiai
Mr. Masahiro Kasahara

Provide Japanese and Western Dishes and Sweets
Supervised By Masters at theModern and Comfortable Columbarium.
B-Lot Co., Ltd. All rights reserved. 21

･･･FY2019/12･･･

Medium-Term Outlook◆Medium-Term Targets (FY2020/12)(JPY in Millions)

Performance

FY2018/12

FY2019/12

Forecast Period

YoY change(%)

YoY change(%)

FY2020/12

Consolidated

Revenue

20,267

25,13024.0

30,00019.4

Consolidated

Operating Profit

3,307

3,985

20.5

4,979

24.9

Consolidated

Ordinary Income

2,832

3,525

24.4

4,186

18.7

Consolidated

Net Profit

1,960

2,428

23.9

2,843

17.1

Net profits have surpassed initial forecasts for the 5 consecutive years since IPO.
Revenue
30,00025,13020,26720,00015,00030,000Intial Forecast
Actual

25,000Ordinary Income(JPY in Millions)

13,0975,000

Intial Forecast
Actual

3,000

4,186

4,000

3,525
2,832

3,000
1,998

11,626

Net Profit(JPY in Millions)(JPY in Millions)

2,843

Intial Forecast
Actual

2,428

2,500
1,960
2,000
1,250

1,500

2,000
10,000

1,000
1,000

5,000
0

874
500

0
2016/12 2017/12 2018/12 2019/12 2020/12

588

0
2016/12 2017/12 2018/12 2019/12 2020/12

2016/12 2017/12 2018/12 2019/12 2020/12
B-Lot Co., Ltd. All rights reserved. 22

Ⅲ. Company Profile

Ⅰ. Performance Review
Ⅱ. Business Summary
Ⅲ. Company Profile

P.05-9
P.10-22
P.23-34

Company Profile ＝as of Dec. 31, 2019＝
Company Name･･･FY2019/12･･･

B-Lot Company Limited

Head Office

1-11-7, Shimbashi, Minato-ku, Tokyo, 105-0041 Japan

Establishment

October 10, 2008

CapitalJPY 1,034,220,533

President

Makoto Miyauchi

Number of
Employee

61 employees

Listed Date

Dec.11, 2014 （TSE Mothers Section : 3452)
Feb.02, 2018 （TSE, 1st Section : 3452)

Offices andSubsidiaries

Hokkaido, Fukuoka, Osaka
B-Lot Asset Management Co., Ltd（100％ Subsidiary）
B-Lot Singapore Pte., Ltd.（100％ Subsidiary）(194 as Consolidated)

Life Stage Corporation（100％ Subsidiary）
B-Lot Capital Link Co., Ltd （100％ Subsidiary）
T&K Co., Ltd.
B-Lot Co., Ltd. All rights reserved. 24

The three founders･･･FY2019/12･･･

Makoto Miyauchi Representative Director and President （Born in February 1969)
Acquired BA in Political Science at Keio University, Tokyo and MBA at University of Washington, Seattle.
A former banker (at Sanwa Bank - currently MUFG) with expertise in project financing,property loans, and securitization.
Established B-Lot to start new real estate and financial businesses in 2008.
A well-known, influential business executive in Japan.

Shinichi Hasegawa Director and Deputy President （Born in July 1972)
Acquired BA in Commercial Science at Sapporo Gakuin University.
Has been responsible mainly for purchase and sales real estate brokerage business .
Made tremendous contribution for Sun Frontier Fudousan Co., Ltd.(TSE first section 8934)
to be listed in the JASDAQ Stock Exchange in 5 years and in the Tokyo Stock Exchange in 8 years
since its incorporation. Assumed the Deputy President of B-Lot in 2008.
Set up new branches in Singapore & Hokkaido by himself and creates new investment networks.

Masahiro Mochizuki Director and Deputy President （Born in October 1972)
Acquired BA in Real Estate at Meikai University.
Established a new business field in real estate value-up called “Re-planning” in 2001,
responsible for purchasing, improving value, selling, and securitizing properties.
Specialized in ‘revitalization and conversion business on real estate’.
Has dealt more than 150 transactions, becoming a most recognized authority in the field of real estate value-up.
Held a number of seminars mainly about revitalization.
B-Lot Co., Ltd. All rights reserved. 25

･･･FY2019/12･･･

History

The logo is ・・・
a symbol of our foundation.
Passion

Sincerity

Brightness

Total
harmonization

The rounded corners of the squares express flexibility and balance.

The company was established in October 2008, and all three founders had different areas of expertise and networks.
President Makoto Miyauchi has a strong background in finance, Deputy President Shinichi Hasegawa’s has extensive
expertise in consulting and customer development and Deputy President Masahiro Mochizuki is skilled in property
revitalization (acquisition and sales). Previously, they managed a real estate company listed on the TSE 1st Section.
In December 2014, B-Lot listed on the TSE Mothers market with 27 employees, just six years and two months after its
founding, which was faster than any other real estate company following the global financial crisis.
In February 2018, the company transferred its listing to the TSE 1st Section.
B-Lot Co., Ltd. All rights reserved. 26

Business Outline･･･FY2019/12･･･

With 3 core businesses, B-Lot build close relationships
with high-net-worth clients.

B-Lot Co., Ltd. All rights reserved. 27

･･･FY2019/12･･･

1. Real Estate Investment and Development Division
Acquire properties with profitability and regulatory issues→solve these issues, thereby increasing property value
using specialist
expertise
Acquisition of properties
with issues

Planning
andincreasing value- Raise revenue- Cut down expense- Correct infractions- Improve cap rate

Revitalization

B-Lot sees potential in buildings that are highly costly, have low value or have been used illegally or
maintained poorly. Our investment team will make those buildings shine again with creative planning basedon deep knowledge of and specialized expertise in real estate.

Development

B-Lot catches the latest trends in real estate and implements creative plans in developing products.
Even in a tough market, we develop sites with reasonable prices through our strong and solid networks.
B-Lot Co., Ltd. All rights reserved. 28

･･･FY2019/12･･･

2. Real Estate Consulting Division

Build close and long-term relationships with individuals of high net worth andcorporations, potential buyers in a competitive real estate market
Seller- Individuals of high net worth- Corporations- Real estate funds- Real estate firms- Financial institutions- Debt collect agencies- Lawyers

Brokerage

Buyer
Sellingdemands

Information
regarding sale

Information
regardingpurchase

Purchasedemands- Individuals of high net worth- Corporations- Property owners- Real estate funds- Real estate firms

Consulting

B-Lot offers comprehensive consulting services such as trust beneficiary interest transactions, brokerage of property sales, leasing,proposals for property exchanges and effective utilization of unused land and rent negotiation services.
Our consulting team always carefully listens to clients needs and concerns in order to provide optimal and unique solutions tailored tothem. This enables us to build life-long relationships with our clients.

B-Lot Co., Ltd. All rights reserved. 29

･･･FY2019/12･･･

3. Real Estate Management Division

From property management to structured projects, B-lot offers
services tailored to each client
Owned properties

Asset management
Real estate securitization
B-Lot arranges and proposes structure for clients who want to set
up an SPC for real estate purchase.

Asset management
B-Lot uses its experience in brokerage and evaluating andmanaging properties, as well as its specialized knowledge in asset
finance and networks, to provide asset management services.

Property management

Leasingmanagement

RetailOffice + Residence

Steady rent income for cash flow

Account
services

Building maintenanceConstruction management

Rent income from our own properties is a core revenue
for the Property Management division. All rent, including
rent acquired by the Investment division is booked in theProperty Management division.

B-Lot Co., Ltd. All rights reserved. 30

B-LOT SINGAPORE PTE. LTD.
B-Lot Singapore Pte. Ltd. was established to provide a variety ofinvestment solutions for Asian investors.
We are a one-stop service provider for real estate purchases, sales, property management and asset
management in the part of the B-Lot Group that specializes in sourcing and consulting with real estate.
B-lot Singapore aims to meet the expectations of smooth asset operations for Asian investors regarding
inbound investment needs in Japan.

President Shinichi Hasegawa— Business Model ―1. Services at Singapore local office

2. Service by B-Lot Group in Japan(B-Lot Singapore Pte.Ltd.)(B-Lot Group）★ Investment coordination

From Japan to Singapore:
About 7 hours and 40 minutes★ Wide range of operational support
・ Sourcing real estate information basedon individual clients’ needs

・ Provide the latest Japanese market

・ Viewing tour with English speaker

information

・ Leasing and Property management
・ Introducing reliable lawyers, accountants,

・ Introduce a variety of financing plan

judicial scriveners, etc.

・ Speedy negotiations★ B-Lot Asset Management
・ After sale follow-up

From Singapore to Japan:
About 6 hours and 50 minutes

Investors

・ Fund origination

B-Lot Asset Management Company Limited
B-Lot Asset Management Co., Ltd. provides comprehensive real estate
operational services such as asset management with financial schemes
We originate a wide variety of real estate funds to meet the investors’ individual needs. As an asset manager
with deep knowledge, B-Lot provides quality services and has cultivated sales/purchases, brokerage, valuation,and property management of investment properties along with experience, expertise, and our own network inasset finance.

— Business Model ―Acquisition
・ Analysis on targeted property
・ Sourcing and negotiation
・ Property valuation
・ Debt financing
・ Due diligence・ Origination of structural vehicle
・ Documentation

President Shinji Okajima

Operation（3 to 5 years）
・ Implement asset management

Exit
・ Provide exit strategies (Sale,

strategies

・ Improve the asset value (Rent,
occupancy rate, renovation, etc.)

・ Supervision of property management
and building management companies

・ Portfolio management and cash flowrefinance etc.)

・ Property valuation
・ Negotiation with purchaser・ Documentation
・ Closing of funds (pay off debt ）planning

・ Investor reporting

Income Gain
Equity Investment

Investors

Capital Gain

LIFE STAGE CO., LTD.
LIFE STAGE provides real estate brokerage services, leveraging its
core expertise in product planning and sales planning. The goal is toserve as a “bridge” between developers and customers.
The company sells newly-built condominiums for residential use (mainly targeting families) built by major realestate developers.
The company’s strength is its unique business model of reflecting customers’ voices into product and sales
planning.

— Business Model ―(1)

President Katsunori Yori

(2)
Marketresearch

Proposal of
product planand sales plan

(3)
Brokerage
agreement

(4)
Sales
activities

Brokerage
services(5)
Conclusion ofcontract anddelivery(6)

Submission ofsales results
reportNext project(1) The company receives a request from the developer to
conduct market research of a scheduled development site.

(4) The company helps sell condominiums while also providing
services to meet the relocation needs of customers.

(2) The company analyzes various data points, prepares asales plan, and submits a proposal to the developer.

(5) After completion of sales, the company reports the sales results
to the developer.

(3) The company assigns an employee to be stationed at thecondominium showroom and conduct sales activities.

(6) By showcasing its high contract rate, the company acquires thenext broker deal.

T&K Co., Ltd.
T&K provides a range of services including outsourced golf course management,
design and repair planning, and golf tournament plan proposal by harnessing its
abundant experience and broad expertise related to golf.
T&K provides superior services with a focus on hospitality, and improves course maintenance to provide
high-quality course conditions. By doing so, the company enhances player satisfaction and boosts course
performance. The company leverages its strength in reflecting customers’ voices into product planning andmanagement, with the aim to increase the asset value of golf courses.
President Taizo Kawata— Business Model ―Outsourced management

Consulting services

Outsourced management of golf courses

Golf course design, renovation design,and supervision

The management of a total of threecourses, including contract as adesignated course manager
Comprehensive consulting services
related to golf, including renovation andcourse maintenance

Plan proposal

Adviser services

Planning

Proposing plans for golf tournaments
and events

Golf courses the company manages on an outsourced basis
Wakasu Golf Links(Management business designated by
the Tokyo Metropolitan Government)

North Shore Country Club

Strategic planning and practical training
to enhance the asset value of golfcourses as profit-earning real estate
Adviser services related to the purchaseor sale of golf course assets

Tsuruga Kokusai Golf Club・・・・・ Contact us ・・・・・
Corporate Planning Department
Tel ：+81 3-6891-2525
Fax：+81 3-6891-2522
E-mail ir@b-lot.co.jp
URL : https://en.b-lot.co.jp/

DISCLAIMER
Except for historical facts, all plans, forecasts, strategies and other information contained herein are forward-looking statements. Forwardlooking statements include but are not limited to descriptions of performance containing words such as or similar to “believe,” “expect,” “plan,”“strategy,” “anticipate,” “forecast,” and “estimate,” and are based on judgments derived from the information available to the Company at thetime of publication. Various factors could cause results to differ materially from any projections presented herein. The Company reserves theright to maintain or change its projections regardless of any new information, conditions or changes in performance. These materials are for
informational purposes only, and should not be construed as a recommendation to invest in the Company.