Ichigo Inc. · TSE:2337
Ichigo — Q1 FY21/2 Earnings Presentation
71 slides from Ichigo's earnings presentation, Jul 14, 2020
Slide 1: FY21/2 Q1 Corporate Presentation
FY21/2 Q1 Corporate Presentation January July 14,11, 2019 2020 Ichigo (2337) © Ichigo Inc. All rights reserved. www.ichigo.gr.jp/en
Slide 2: Condolences for Covid-19 and heavy rainfall
We would like to express our deepest condolences to all those across the world affected by the Covid-19 pandemic and to all those in Japan affected by the recent heavy rainfalls, and our wishes for the earliest possible recovery. © Ichigo Inc. All rights reserved. 2
Slide 3: Make The World More Sustainable
Make The World More Sustainable © Ichigo Inc. All rights reserved.
Slide 4: © Ichigo Inc. All rights reserved.
© Ichigo Inc. All rights reserved.
Slide 5: © Ichigo Inc. All rights reserved.
© Ichigo Inc. All rights reserved.
Slide 6: Contents
Contents FY21/2 Q1 Earnings Appendices ‒ FY21/2 Q1 Summary Ichigo’s Sustainability Commitment (ESG) ‒ Covid-19 Impacts ‒ Ichigo Sustainability Policy ‒ Covid-19 Countermeasures ‒ Ichigo ESG – Environmental ‒ Operating Profit -57%, Net Income -55%, EPS -54% (YOY) ‒ Ichigo ESG – Social ‒ Segment Earni
Slide 7: FY21/2 Q1 Earnings
FY21/2 Q1 Earnings © Ichigo Inc. All rights reserved. 7
Slide 8: FY21/2 Q1 Summary
FY21/2 Q1 Summary Durable Earnings Model Robust Stock Earnings Stock Earnings/Fixed Expenses (JPY million) 207% SRE Asset Management Clean Energy Cash 316 4,750 Earnings JPY 6.29B 4,041 3,386 2,511 822 1,089 541 441 FY20/2 FY21/2 FY20/2 FY21/2 FY20/2 FY21/2 Cash Earnings = Gross Profit + Fixed Asset
Slide 9: Covid-19 Impacts
Covid-19 Impacts − Decrease in Ichigo Hotel Performance-Based AM Fees – Minimal Impact on Ichigo Office & Ichigo Green − Decrease in Hotel & Retail Rental Income – Minimal Impact on Other Asset Types − Sales & Acquisitions: Market Stress, but Residential Assets Continue to Be Active − Clean Energy G
Slide 10: Covid-19 Countermeasures
Covid-19 Countermeasures Established Covid-19 Taskforce Comprised of 5 Teams – Led by CEO, COO, & Subsidiary CEOs − Infection Control & Response: Implement guidelines on information-sharing and disinfection procedures when there is a suspected or confirmed case at Ichigo assets − Policy Research: Su
Slide 11: Operating Profit -57%, Net Income -55%, EPS -54% (YOY)
Operating Profit -57%, Net Income -55%, EPS -54% (YOY) Stock Earnings -15%, Flow Earnings -63% YOY on Covid-19 (JPY million) FY20/2 FY21/2 Revised Full-Year YOY Q1 Q1 Forecast Operating Profit 8,537 3,650 -57.2% 7,400 – 12,900 Recurring Profit 7,607 3,303 -56.6% 5,000 – 10,400 Net Income 4,768 2,164
Slide 12: Segment Earnings Details
Segment Earnings Details − Asset Management: Decrease in Hotel REIT Base AM Fees − Sustainable Real Estate Stock Earnings: Decrease in Hotel & Retail Rental Income Flow Earnings: On Track – Last Year Heavily Weighted to Q1 − Clean Energy: 7 New Plants Online since FY20/2 H1 – +33% MW YOY (JPY millio
Slide 13: FY21/2 Full-Year Forecast Upward Revision
FY21/2 Full-Year Forecast Upward Revision Revised Up Bottom of Range: OP +19%, Net Income +75% − Stock Earnings +JPY 550M (+4%) Revised up rental income to reflect ongoing discussions with tenants & introduction of government programs − Flow Earnings +JPY 690M (+22%) Revised up sales to reflect stro
Slide 14: Secure Dividend In Line With Progressive Dividend Policy
Secure Dividend In Line With Progressive Dividend Policy Progressive Dividend Policy (Maintain or Raise) Maintain JPY 7 Dividend despite Covid-19 9 Consecutive Years of Progressive Dividend JPY 7 JPY 7 JPY 7 JPY 6 JPY 5 JPY 3 JPY 1* JPY 1.1 JPY 1.3 FY13/2 FY14/2 FY15/2 FY16/2 FY17/2 FY18/2 FY19/2 FY
Slide 15: Powerful Value-Add Business Model Underpins Growth
Powerful Value-Add Business Model Underpins Growth © Ichigo Inc. All rights reserved. 15
Slide 16: Business Model (1) Stock + Flow Earnings
Business Model (1) Stock + Flow Earnings Stock Earnings (Primarily Rental Income, Power Generation Revenues, Depreciation (Non-Cash), and Base AM Fees) Flow Earnings (Primarily Gains on Value-Add Real Estate Sales ) Fixed Expenses (Fixed SG&A + Interest Expenses) 37,016 Cash Earnings 33,759 (JPY mil
Slide 17: Business Model (2) Embedded Forward Earnings
Business Model (2) Embedded Forward Earnings Full Economic Earnings from Value-Add Exceed Accounting Earnings Value-Add Thus Generates Significant Unrealized Gains that are an “Earnings Bank” for Future Periods (JPY billion) 56.2 50.9 45.4 36.8 28.1 FY16/2 FY17/2 FY18/2 FY19/2 FY20/2* Appraisal Valu
Slide 18: Business Model (3) Value-Add Drives Durable Value Growth
Business Model (3) Value-Add Drives Durable Value Growth Gains on Sales Consistently Exceed 2.8X Appraisal Value-Based Unrealized Gains Appraisal Value-Based Unrealized Gains 2.5X Gains on Sales (Gross Profit) 4.4X 1.6X JPY 17.1B JPY 15.0B JPY 12.0B JPY 10.5B JPY 6.4B JPY 5.9B JPY 6.1B 2.2X JPY 2.7B
Slide 19: Business Model (4) Robust Cash Generation
Business Model (4) Robust Cash Generation Economic Operating Cash Flow Exceeds Net Income (JPY billion) Net Income 3.6X Economic Operating Cash Flow 1.7X 1.4X 1.3X 1.2X 29.5 25.5 21.5 17.1 16.7 14.9 15.4 12.9 14.0 8.2 FY16/2 FY17/2 FY18/2 FY19/2 FY20/2 Note: Economic Operating Cash Flow = Cash Flows
Slide 20: Strong Financial Base
Strong Financial Base Average Interest Rate & Loan Term Weighted Average Loan Period Weighted Average Remaining Loan Maturity (Interest Rate) Weighted Average Interest Rate (Loan Term, Years) 2.5% 12 10.8 years 10.2 years 10.3 years 10.0 years 9.9 years 9.0 years 8.7 years 2.0% 9 9.6 years 8.3 years
Slide 21: Sustainable Growth as a Sustainable Infrastructure Company
Sustainable Growth as a Sustainable Infrastructure Company © Ichigo Inc. All rights reserved. 21
Slide 22: Selective on Acquisitions and Sales
Sustainable Real Estate Selective on Acquisitions and Sales Q1 Net Sales of JPY 6.4B – Focus on Residential Assets − 13% GPM vs. 28% FY20/2 (full-year) Ichigo Owners Robust Capabilities & Execution amidst Covid-19 − Acquisitions: JPY 32.6B (31% of total vs. 43% last-year Q1) − Sales: JPY 16.6B (99%
Slide 23: Growth Support for TSE REITs & YieldCo
Asset Management Growth Support for TSE REITs & YieldCo Office Hotel Green Infrastructure Ichigo Office Ichigo Hotel Ichigo Green (8975) (3463) (9282) IPO IPO IPO October 12, 2005 November 30, 2015 December 1, 2016 Portfolio Portfolio Portfolio 85 Assets JPY 202.3B 23 Hotels JPY 51.9B 15 Plants JPY
Slide 24: Scaling Rapidly (In-Development Plants +54%)
Clean Energy Scaling Rapidly (In-Development Plants +54%) 3 New Plants (Total 8.1MW) Online in Q1 7 New Plants (Total 21.1MW) Forecast for FY21/2 (full-year) 176.9MW (Solar 13.7MW, Wind 7.4MW) (+29%) Power Generation Growth Operating 137.3MW In-Development 128.0MW (+7%) 61.9 (+20%) (Wind 25.9) Ichig
Slide 25: Ichigo J.League Shareholder Program
Ichigo J.League Shareholder Program Represents Two Firsts for a Shareholder Program in Japan − First Japanese company to include not just its own shareholders, but also the shareholders of the REITs and YieldCo that it manages, in its shareholder program (55,000 shareholders total) − First company t
Slide 26: Appendix: Ichigo's Sustainability Commitment (ESG)
Appendix: Ichigo’s Sustainability Commitment (ESG) © Ichigo Inc. All rights reserved. 26
Slide 27: Ichigo Sustainability Policy
Ichigo Sustainability Policy Harmony with the Environment Ichigo actively monitors and minimizes the environmental impact of its business operations. Energy Conservation, CO2 Reduction, and Recycling Ichigo seeks to contribute to a low-carbon, low-waste society by reducing energy consumption, extend
Slide 28: Ichigo ESG – Environmental
Ichigo ESG – Environmental Sustainable Real Estate Solar and Wind Energy: Safe and Clean Preserve & Enhance Existing Buildings Annual Power Generation Annual CO2 Reduction to End Wasteful Demolish & Rebuild 147,296,453 kWh 97,215,656 kg ‒ Lengthen useful life of existing real estate ‒ Shrink footpri
Slide 29: Ichigo ESG – Social
Ichigo ESG – Social Children’s Cancer Sports Arts Treatment Support National & Paralym Art Sponsor Support University of Miyazaki World-Class Athletes - Support artists with Faculty of Medicine’s Program ‒ Weightlifting disabilities for Children ‒ Riflery ‒ Issued CSR bond & donated a ‒ Track & Fiel
Slide 30: Ichigo ESG – Governance
Ichigo ESG – Governance Early Adopter of Independent Three Committee (Nominating, Audit, & Compensation) Corporate Governance Structure – Adopted in 2006 to incorporate global best practice – Exceeded legal requirements by establishing Compliance Committee in addition to Nominating, Audit, and Compe
Slide 31: Appendix: Financial & Real Estate Data
Appendix: Financial & Real Estate Data © Ichigo Inc. All rights reserved. 31
Slide 32: Significant Unrealized Gains on Balance Sheet
Significant Unrealized Gains on Balance Sheet JPY 54.4B (Appraisal Value Basis), +2.6% vs. FY20/2-end Real Estate Directly Held by Ichigo (JPY million) Unrealized Book Value as of Appraisal NOI Cap Rate Appraisal Value Location Gains May 31, 2020 (A) (B) (B)/(A) (C) (C) - (A) Tokyo 95,904 5,457 5.7%
Slide 33: Net Consolidated Risk-Based Balance Sheet
Net Consolidated Risk-Based Balance Sheet Mark-to-Market Consolidated Balance Sheet: JPY 392B (Book Value JPY 334.6B + Unrealized Gains JPY 57.4B) Cash & Cash Equivalents Non-Recourse Loans & JPY 37.4B Related Liabilities Net Consolidated Risk-Based Balance Sheet: JPY 44.2B JPY 310.4B Non-Recourse L
Slide 34: Cash Flow Maximization
Cash Flow Maximization Reclassification of Sustainable Real Estate Assets to Fixed Assets Real Estate for Sale & Fixed Assets Fixed Assets (Value-Add) Fixed Asset Ratio Real Estate for Sale (Value-Add) 30.1% 84.4% 15.2% (JPY billion) 12.8% 30.9 7.2% 140.2 Maximal use of 162.3 depreciation allowances
Slide 35: Robust Cash Flow Generation & Strong Earnings Base
Robust Cash Flow Generation & Strong Earnings Base Key Ichigo Strength: Robust Cash Generation to Fund Growth − Maximal Use of Non-Cash Depreciation Allowances − Majority of Cash Earnings are Stock Earnings − Stock Earnings/Fixed Expenses Ratio – Even amidst Covid-19 – is Consistently c. 200% (JPY m
Slide 36: Post-GFC Shift in Earnings Base & Financial Position
Post-GFC Shift in Earnings Base & Financial Position FY09/2 FY14/2 FY20/2 vs. GFC GFC Start of Shift Up MTP Stock Earnings/ Fixed Expenses 75% 140% 234% 3.1X Coverage Ratio 10.3 years Loan Maturity (Weighted avg., 5.6 years 3.7X corporate + non-recourse loans) 2.8 years 93% 28% 14% >3 years <3 years
Slide 37: Business Segments
Business Segments Asset Management (AM) generates fee income via management of Asset Management Ichigo Office (8975), Ichigo Hotel (3463), and Ichigo Green (9282), and private real estate funds. Sustainable Real Estate (SRE) preserves and improves real estate. Sustainable Ichigo receives rental inco
Slide 38: Consolidated Balance Sheet: Segment Breakdown
Consolidated Balance Sheet: Segment Breakdown (JPY million) Cash and Operational Operational Real Estate Power Plants Intangible Securities Segment Cash Loan Securities Fixed Assets Other Assets Total Assets for Sale for Sale Assets Investments Equivalents Investments Investments Asset Management (A
Slide 39: Consolidated P&L: Segment Breakdown
Consolidated P&L: Segment Breakdown (JPY million) Gross Profit Operating Profit Segment YOY YOY FY20/2 Q1 FY21/2 Q1 FY20/2 Q1 FY21/2 Q1 FY21/2 Forecast Change Change Asset Management (AM) 626 501 -20.0% 519 334 -35.7% 1,100 Base AM Fees 541 441 -18.4% – – – – Acquisition/Disposition Fees 85 60 -29.5
Slide 40: Asset Management AUM Detail
Asset Management AUM Detail FY16/2 FY17/2 FY18/2 FY19/2 FY20/2 FY21/2 Q1 (12M) (12M) (12M) (12M) (12M) (3M) Ichigo Office AUM (Fiscal Year End) JPY 165.1B JPY 194.5B JPY 196.9B JPY 203.0B JPY 203.2B JPY 202.3B (8975) Base AM Fee Gross Profit (Actual) JPY 1,016M JPY 1,291M JPY 1,373M JPY 1,426M JPY 1
Slide 41: Powerful Sustainable Real Estate Business Model
Powerful Sustainable Real Estate Business Model Significant Synergies Between Ichigo’s Sustainable Real Estate and Asset Management Businesses Sustainable Real Estate Business Model Green Infrastructure Solar Plants Buy Ichigo Green (9282) Office Sell Real Third- Estate Party Ichigo Office (8975) Va
Slide 42: Sustainable Real Estate Social Significance
Sustainable Real Estate Social Significance Sustainable Real Estate Serving a Sustainable Society End Demolish and Rebuild and Embrace Sustainable Value-Add ‒ Preserve and enhance high-function real estate ‒ Lengthen useful life and improve quality of existing assets via Sustainable Value-Add Sustai
Slide 43: Ichigo Sustainable Real Estate Earnings Model Example
Ichigo Sustainable Real Estate Earnings Model Example 5.5% NOI Yield, JPY 2B Purchase, LTV 75%, 1.5% Interest Rate, JPY 50M Capex, 15% Increase in NOI, 3-Year Value-Add Period Value-Add Steps: Improved exterior, interior, & tenant services; seismic strengthening; increased energy efficiency; new ten
Slide 44: Sustainable Real Estate: Gross Profit Margin (GPM)
Sustainable Real Estate: Gross Profit Margin (GPM) Ichigo Value-Add Supports Ongoing High GPM FY17/2 FY18/2 FY19/2 FY20/2 FY21/2 Q1 GPM 13.6% 33.7% 25.5% 28.3% 13.1% (vs. Revenue) GPM 15.8% 50.9% 34.3% 39.5% 15.1% (vs. Book Value) Revenue 77,502 35,733 58,693 60,601 16,782 (JPY M) Gross Profit 10,56
Slide 45: Ichigo-Owned Real Estate Portfolio
Ichigo-Owned Real Estate Portfolio By Asset Type By Location (JPY billion) Other 6% Ground Lease 1% Other 3% Sendai 2% Logistics Osaka 3% 2% Hokkaido Hokkaido 3% 7.1 Nagoya 3% Residence Retail 14% 29% Tokyo Metro* Tokyo 11% 51% Tokyo Hotel 121.2 25% Office Fukuoka 26% 21% Sendai 5.9 *Ex-Tokyo Nagoya
Slide 46: Sustainable Real Estate Asset Breakdown (1)
Sustainable Real Estate Asset Breakdown (1) 175 Assets, JPY 238.2 B, Forecast NOI JPY 12.4B (6.2% Yield) Forecast Acquisition Acquisition Building Expected Ichigo Equity Forecast No. Asset Type Classification Location 1 Equity 3 Price Date Age NOI/Year Investment 2 IRR Multiple 1 Wholesale Market Fi
Slide 47: Sustainable Real Estate Asset Breakdown (2)
Sustainable Real Estate Asset Breakdown (2) Forecast Acquisition Acquisition Building Expected Ichigo Equity Forecast No. Asset Type Classification Location 1 Equity 3 Price Date Age NOI/Year Investment 2 IRR Multiple 27 Retail Fixed Asset Tokorozawa, Saitama JPY 1B-2B 2013/11 12 years JPY 76M JPY 9
Slide 48: Sustainable Real Estate Asset Breakdown (3)
Sustainable Real Estate Asset Breakdown (3) Forecast Acquisition Acquisition Building Expected Ichigo Equity Forecast No. Asset Type Classification Location 1 Equity 3 Price Date Age NOI/Year Investment 2 IRR Multiple 64 Retail Fixed Asset Shinagawa-ku, Tokyo <JPY 1B 2015/01 – JPY 26M – – – 66 Retai
Slide 49: Sustainable Real Estate Asset Breakdown (4)
Sustainable Real Estate Asset Breakdown (4) Acquisition Building Expected Ichigo Equity Forecast Equity Forecast No. Asset Type Classification Location Acquisition Price Date Age NOI/Year1 Investment Multiple 2 IRR3 121 Office Fixed Asset Minato-ku, Tokyo >JPY 3B 2016/10 19 years JPY 1,540M JPY 3,45
Slide 50: Sustainable Real Estate Asset Breakdown (5)
Sustainable Real Estate Asset Breakdown (5) Acquisition Building Expected Ichigo Equity Forecast Equity Forecast No. Asset Type Classification Location Acquisition Price Date Age NOI/Year 1 Investment Multiple 2 IRR3 155 Office Fixed Asset Shinagawa-ku, Tokyo JPY 2B-3B 2019/03 35 years JPY 169M JPY
Slide 51: Sustainable Real Estate Asset Breakdown (6)
Sustainable Real Estate Asset Breakdown (6) Forecast Acquisition Acquisition Building Expected Ichigo Equity Forecast No. Asset Type Classification Location 1 Equity 3 Price Date Age NOI/Year Investment 2 IRR Multiple 61 Retail Operational Loan Shinjuku-ku, Tokyo JPY 1B-2B 2014/12 57 years JPY 120M
Slide 52: Sustainable Real Estate Asset Breakdown (7)
Sustainable Real Estate Asset Breakdown (7) Expected Forecast Acquisition Ichigo Equity Forecast No. Asset Type vs. FY20/2 Q4 1 Equity Price NOI/Year Investment IRR Multiple A Ichigo Owners (Office & Residential) 41 Assets JPY 26,022M -JPY 10,612M JPY 1,325M JPY 8,240M – – B Centro (Primarily Office
Slide 53: Ichigo Solar Power Plant Portfolio, Total 187.8MW
Ichigo Solar Power Plant Portfolio, Total 187.8MW Ichigo (Operating) Ichigo (In-Development) Panel Panel FIT Operation FIT Operation Solar Power Plant Area Output Solar Power Plant Area Output (Pre-tax) Start Date (Pre-tax) Start Date (MW) (MW) Ichigo Tokushima Higashi-Okinosu Shikoku 2.52 JPY 40 Au
Slide 54: Ichigo-Owned Solar Power Plant Details
Ichigo-Owned Solar Power Plant Details Total Operating and In-Development Ichigo-Owned Solar Power Plants: 48 Plants (151.0MW) By Customer By Feed-In Tariff By Years in Operation (Electric Power Utility Co) JPY 14 Hokkaido Shikoku 2% 3% 1% Tohoku >5 years 3% 6% JPY 18 10% JPY 40 3-5 years JPY 21 19%
Slide 55: Reference: Japan's Feed-In Tariff (FIT)
Reference: Japan’s Feed-In Tariff (FIT) What is a FIT? ‒ A policy mechanism to encourage investment in renewable energies by guaranteeing a fixed price for electricity over a 20-year contract period ‒ The fixed price for new contracts is adjusted every year, but locked in for the duration of the con
Slide 56: Consolidated Balance Sheet: Assets
Consolidated Balance Sheet: Assets (JPY million) FY17/2 FY18/2 FY19/2 FY20/2 FY21/2 Q1 vs. FY20/2 Assets Current Assets Cash and cash equivalents 47,678 45,510 50,225 41,067 44,164 +3,097 Trade notes and accounts receivable 913 1,097 1,344 2,308 1,686 -622 Operational loan investments 1,324 1,324 1,
Slide 57: Consolidated Balance Sheet: Liabilities & Net Assets
Consolidated Balance Sheet: Liabilities & Net Assets (JPY million) FY17/2 FY18/2 FY19/2 FY20/2 FY21/2 Q1 vs. FY20/2 Liabilities Current Liabilities Trade notes and accounts payable 110 – – – – – Short-term loans 805 1,042 3,275 3,086 4,366 +1,280 Short-term non-recourse loans 611 – – – – – Bonds (du
Slide 58: Consolidated P&L
Consolidated P&L (JPY million) FY21/2 FY17/2 FY18/2 FY19/2 FY20/2 FY21/2 Q1 FY20/2 Q1 Change Full-Year vs. (12M) (12M) (12M) (12M) (3M) (3M) (YOY) Forecast Forecast (Revised) Revenue 109,253 57,846 83,540 87,360 22,730 26,290 -3,560 – – Cost of Goods Sold 81,327 30,860 51,413 52,851 17,440 15,994 +1
Slide 59: Consolidated Cash Flows from Operations
Consolidated Cash Flows from Operations (JPY million) FY17/2 (12M) FY18/2 (12M) FY19/2 (12M) FY20/2 (12M) FY21/2 Q1 (3M) Cash Flows from Operations Pre-tax net income 20,630 20,109 23,079 16,545 3,188 Depreciation 778 1,015 1,696 2,630 1,046 Share-based compensation expenses 223 215 213 194 8 Amorti
Slide 60: Consolidated Cash Flows from Investments & Financing
Consolidated Cash Flows from Investments & Financing (JPY million) FY17/2 (12M) FY18/2 (12M) FY19/2 (12M) FY20/2 (12M) FY21/2 Q1 (3M) Cash Flows from Investments Payments into time deposits -6,100 -6 -118 -113 -2 Proceeds from withdrawal from time deposits 201 – 1,060 5,033 – Payments for securities
Slide 61: Ichigo 2030: Ichigo as a Sustainable Infrastructure Company
Ichigo 2030: Ichigo as a Sustainable Infrastructure Company © Ichigo Inc. All rights reserved. 61
Slide 62: Go for Growth
Go for Growth Grow & Expand Ichigo’s Core Businesses into New Areas, Creating New Earnings Streams and Increasing Both Earnings and Earnings Stability Sustainability Infrastructure Sustainability is integral to the health and Ichigo has a direct and critically important role in development of people
Slide 63: Go Beyond Real Estate to Address Broad Needs
Go Beyond Real Estate to Address Broad Needs Responding Assets Needs to Diverse Child Care Nursing Care Residential Live Needs Education Senior Business Office Work Tourism Medical Care Retail Buy, Dine Agriculture Entertainment Hotel Stay, Travel Public Works Solar Power Power Lives & Sports Plant
Slide 64: KPI Targets
KPI Targets 1. High Capital Efficiency − FY20/2~FY30/2 Average ROE >15% Increase long-term ROE by driving higher capital efficiency and earnings stability Via high ROE, grow long-term EPS as a key driver of shareholder value − FY20/2~FY30/2 Continuous JPX-Nikkei 400 Index Inclusion Target 11 c
Slide 65: Shareholder Return Policy
Shareholder Return Policy Ichigo Dividend Policy: Growth, Certainty, and Stability − Progressive Dividend Policy Ichigo’s progressive dividend policy underscores our commitment to driving continued organic earnings and dividend growth for shareholders. Under this policy, the dividend is maintained
Slide 66: Ichigo 2030: New Initiatives
Ichigo 2030: New Initiatives © Ichigo Inc. All rights reserved. 66
Slide 67: Top Partner of J.League, Japan's Professional Soccer League
Real Estate x Sports Top Partner of J.League, Japan’s Professional Soccer League Partner with J.League to Promote Community Development, Revitalize Local Economies, and Help People Enjoy Fuller and Healthier Lives J.League’s 100-Year Vision: Ichigo’s Mission: Promote Sports Development Serve Importa
Slide 68: Hotel Operator: Hakata Hotels
Real Estate x Tourism Hotel Operator: Hakata Hotels Hotel Operator in Kyushu/Yamaguchi Region Seeing Inbound Tourism Growth – Started operations at 3 hotels on June 1, 2019 and will expand to 11 hotels in Sep 13, 2020 Deploying Propera, Ichigo’s AI-based Hotel Revenue Management System – Increasing
Slide 69: Ichigo Animation: Anime + Real Estate Synergies
Real Estate x Entertainment x Culture X Tourism Ichigo Animation: Anime + Real Estate Synergies Production of New Anime Series VLADLOVE Written & Directed by Mamoru Oshii, with Co-Director Junji Nishimura – Established Ichigo Animation in April 2019 – Introducing tenant collaboration initiatives tha
Slide 70: Real-World Augmented Reality (AR) Game TSUBASA+
Real Estate x Entertainment x Sports x Tourism Real-World Augmented Reality (AR) Game TSUBASA+ Investing in TSUBASA+, an AR Game that Uses Smartphone GPS Japanese soccer manga, Captain Tsubasa ×avatars of world-class soccer players Integrates real-world stadiums around the world Game Features Users
Slide 71: Make The World More Sustainable
These materials were prepared to explain Ichigo’s businesses and are not for the purpose of soliciting investment in marketable securities issued by Ichigo. Ichigo does not guarantee the accuracy of the figures, information, estimates, or other statements included herein, and accepts no responsibili