The First R-Fund Successfully Completed

Dec 19th, 2003

The first “Space Redevelopment Business (R-Project)” was formed yesterday, fully maximizing on our know-how on real estate. Space Redevelopment Project (R-Project) takes a non-performing property and brings out its maximum potential by raising its value through renovations.

The “R-Fund 1″ entails “Floor and Walls Hacchobori” and “R3 Kawagoe” projects. “Floor and Walls Hacchobori” is a collaboration project with IDEE design company; we took an office and retail building and turned it into a SOHO-like office building. “R3 Kawagoe” is a collaboration project with a design firm, Klein Dytham architecture, which renovated a company employee dormitory with a pachinko parlor building into a retail and designers’ apartment building.

R-Fund 1 Project has been capitally supported by investments of foreign investors and domestic individual investors through anonymous association and non-recourse loan from financial institutions.

R-Project Number 2 and 3 fund establishments are currently in the works.