Ichigo Inc. · TSE:2337
Ichigo — H1 FY2021 Earnings Presentation
73 slides from Ichigo's earnings presentation, Oct 14, 2020
Slide 1: FY21/2 H1 Corporate Presentation
FY21/2 H1 Corporate Presentation January 11, 2020 October 14, 2019 Ichigo (2337) © Ichigo Inc. All rights reserved. www.ichigo.gr.jp/en
Slide 2: Condolences for Covid pandemic and natural disasters
We would like to express our deepest condolences to all those across the world affected by the Covid pandemic and to all those in Japan affected by recent natural disasters, along with 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 H1 Earnings Appendices ‒ FY21/2 H1 Summary Ichigo’s Sustainability Commitment (ESG) ‒ Covid Impacts ‒ Ichigo Sustainability Policy ‒ Covid Response ‒ Ichigo ESG – Environmental ‒ Covid Infection Countermeasures ‒ Ichigo ESG – Social ‒ Operating Profit -64%, Net Income -68%, EPS -67%
Slide 7: FY21/2 H1 Earnings
FY21/2 H1 Earnings © Ichigo Inc. All rights reserved. 7
Slide 8: FY21/2 H1 Summary
FY21/2 H1 Summary Durable Earnings Model Robust Stock Earnings Stock Earnings/Fixed Expenses (JPY million) 193% Sustainable Asset Management Clean Energy Real Estate Cash 316 9,713 Earnings JPY 10.79B 7,602 6,910 4,535 1,726 2,179 1,078 887 FY20/2 FY21/2 FY20/2 FY21/2 FY20/2 FY21/2 Cash Earnings = G
Slide 9: Covid Impacts
Covid Impacts Asset Management − Decrease in Ichigo Hotel (3463) AM fees − Minimal impact on Ichigo Office (8975) & Ichigo Green (9282) Sustainable Real Estate − Partial recovery in hotel rental income, but still far away from full recovery − With the exception of inbound-dependent retail, retail re
Slide 10: Covid Response
Covid Response Systematic Activity across both Hard & Soft Elements of Tenant Needs − Tenant interviews & assessments and tailored responses − Pro-active information gathering to support tenant access to government subsidies Offices Hotels Mitigate risks via continued execution of Leverage capabilit
Slide 11: Covid Infection Countermeasures
Covid Infection Countermeasures Infection Control & Response, Communication with Tenants, Thorough Information Gathering, & Extensive Safety Measures for Tenants Covid Awareness & Prevention Promotion Poster Asset Type Covid Infection Countermeasures Provide hand sanitizers ubiquitously All Asset Ty
Slide 12: Operating Profit -64%, Net Income -68%, EPS -67% (YOY)
Operating Profit -64%, Net Income -68%, EPS -67% (YOY) Significant Covid impact: Stock Earnings -36%, Flow Earnings -68% YOY (JPY million) FY20/2 FY21/2 YOY Full-Year Forecast H1 H1 Operating Profit 15,118 5,452 -63.9% 7,400 – 12,900 Recurring Profit 13,189 4,252 -67.8% 5,000 – 10,400 Net Income 8,6
Slide 13: Segment Earnings Details
Segment Earnings Details − Asset Management: Decrease in Ichigo Hotel (3463) AM fees − Sustainable Real Estate Stock Earnings: Primarily decrease in hotel income; limited retail impact Flow Earnings: Little activity in sales & acquisitions other than residential (Additional JPY 17.2B of residential
Slide 14: Powerful Value-Add Business Model Underpins Growth
Powerful Value-Add Business Model Underpins Growth © Ichigo Inc. All rights reserved. 14
Slide 15: 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 16: 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 17: 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 6.1B 1.7X JPY 5.9B JPY 2.7B
Slide 18: 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 19: 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 9.9 years 10.0 years 9.0 years 8.7 years 2.0% 9 9.6 years 8.3 years
Slide 20: Sustainable Growth as a Sustainable Infrastructure Company
Sustainable Growth as a Sustainable Infrastructure Company © Ichigo Inc. All rights reserved. 20
Slide 21: Selective on Acquisitions and Sales
Sustainable Real Estate Selective on Acquisitions and Sales H1 Acquisitions: JPY 21.1B − Ichigo Owners acquired 13 assets (JPY 9.8B, 46% of total) H1 Sales of JPY 20.5B − Ichigo Owners sold 13 assets (JPY 16.6B, 81% of total) (Additional JPY 17.2B residential sales to global institutional investor i
Slide 22: 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 23: Scaling Rapidly (In-Development Plants +46%)
Clean Energy Scaling Rapidly (In-Development Plants +46%) 4 New Plants (Total 9.4MW) Online in H1 198.8MW (+17%) 7 New Plants (Total 21.1MW) Forecast for FY21/2 (full-year) (Solar 13.7MW, Wind 7.4MW) 170.1MW 157.4MW (+8%) 53.0 Power Generation (+16%) (Wind 18.4) 24.4 136.3MW 11.7 (Wind 7.4) Ichigo T
Slide 24: Ichigo's First Wind Power Plant
Ichigo’s First Wind Power Plant − Scheduled to Go Online in December 2020 (Capacity: 7.4MW, FIT: JPY 22) − Clean Energy Growth Driving Generation Diversification & Economies of Scale − Financed by Shinsei Bank Green Loan using ESG Criteria Construction Plant Site Plant Overview Name: Ichigo Yonezawa
Slide 25: Share Buyback
Share Buyback − Ichigo 2030: Flexible Deployment of Share Buybacks − Purpose: Grow Shareholder Value October 2020 Buyback Share Type Common shares Buyback Method In-market purchases via securities firm Amount JPY 1.5 billion (maximum) Number of Shares 5,500,000 (maximum) (1.1% of shares outstanding,
Slide 26: 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 (66,000 shareholders total) − First company t
Slide 27: Appendix: Ichigo's Sustainability Commitment (ESG)
Appendix: Ichigo’s Sustainability Commitment (ESG) © Ichigo Inc. All rights reserved. 27
Slide 28: 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 29: Ichigo ESG – Environmental
Ichigo ESG – Environmental Sustainable Real Estate Contributing to a Low-Carbon World Preserve & Enhance Existing Buildings Annual Power Generation 147,296,453 kWh to End Wasteful Demolish & Rebuild ‒ Lengthen useful life of existing real estate Equivalent to annual energy consumption of ‒ Shrink fo
Slide 30: Ichigo ESG – Social
Ichigo ESG – Social Supporting Local Communities Working with Tenants − Ichigo’s Boutique Hotel THE KNOT − Conduct tenant surveys to understand needs to Creating a place for visitors, communities, and implement effective value-add the old and the new to come together − Became sole investor for Oshii
Slide 31: Ichigo ESG – Governance
Ichigo ESG – Governance Early Adopter of Global Best Practice Majority Independent Director Board Corporate Governance Structure Underpins Strong Governance − Adopted Independent Director-led, committee- − Of 9 members of Ichigo’s Board of Directors, 5 based governance system in 2006 to incorporate
Slide 32: Appendix: Financial & Real Estate Data
Appendix: Financial & Real Estate Data © Ichigo Inc. All rights reserved. 32
Slide 33: Significant Unrealized Gains on Balance Sheet
Significant Unrealized Gains on Balance Sheet JPY 54.2B (Appraisal Value Basis), +2.2% vs. FY21/2 Q1-end Real Estate Directly Held by Ichigo (JPY million) Book Value as of Appraisal NOI Cap Rate Appraisal Value Unrealized Gains Location August 31, 2020 (A) (B) (B)/(A) (C) (C) - (A) Tokyo 94,046 5,35
Slide 34: Risk-Based Balance Sheet
Risk-Based Balance Sheet Mark-to-Market Consolidated Balance Sheet: JPY 398.9B (Book Value JPY 341.6B + Unrealized Gains JPY 57.2B) Cash & Cash Equivalents Non-Recourse Loans & JPY 39B Related Liabilities Net Consolidated Risk-Based Balance Sheet: JPY 47.2B JPY 312.6B Non-Recourse Loans & (Book Valu
Slide 35: 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 36: 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 – is consistently c. 200% (JPY mill
Slide 37: 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 38: 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 39: Consolidated Balance Sheet: Segment Breakdown
Consolidated Balance Sheet: Segment Breakdown (JPY million) Cash and Operational Operational Power Real Estate Fixed Intangible Securities Other Segment Cash Loan Securities Plants for Total Assets for Sale Assets Assets Investments Assets Equivalents Investments Investments Sale Asset Management (A
Slide 40: Consolidated P&L: Segment Breakdown
Consolidated P&L: Segment Breakdown (JPY million) Gross Profit Operating Profit Segment YOY YOY Revised FY20/2 H1 FY21/2 H1 FY20/2 H1 FY21/2 H1 Change Change FY21/2 Forecast Asset Management (AM) 1,163 948 -18.5% 908 606 -33.2% 1,100 Base AM Fees 1,078 887 -17.7% – – – – Acquisition/Disposition Fees
Slide 41: Asset Management AUM Detail
Asset Management AUM Detail FY16/2 FY17/2 FY18/2 FY19/2 FY20/2 FY21/2 H1 (12M) (12M) (12M) (12M) (12M) (6M) 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 42: 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 43: 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 44: 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 45: 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 H1 GPM 13.6% 33.7% 25.5% 28.3% 15.3% (vs. Revenue) GPM 15.8% 50.9% 34.3% 39.5% 18.1% (vs. Book Value) Revenue 77,502 35,733 58,693 60,601 20,510 (JPY M) Gross Profit 10,56
Slide 46: Ichigo-Owned Real Estate Portfolio
Ichigo-Owned Real Estate Portfolio By Asset Type By Location (JPY billion) Gournd Lease Logistics Other 7% 1% 2% Sendai 2% Other 2% Osaka 3% Hokkaido 7.1 Hokkaido 3% Residence Nagoya 3% 16% Retail 28% Tokyo Metro* Tokyo 11% 51% Tokyo Office 125.8 25% Hotel 26% Fukuoka Sendai 20% 5.9 *Ex-Tokyo Nagoya
Slide 47: Sustainable Real Estate Asset Breakdown (1)
Sustainable Real Estate Asset Breakdown (1) 181 Assets, JPY 245.7 B, Forecast NOI JPY 12.5B (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 48: 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 49: 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 50: Sustainable Real Estate Asset Breakdown (4)
Sustainable Real Estate Asset Breakdown (4) 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 121 Office Fixed Asset Minato-ku, Tokyo >JPY 3B 2016/10 19 years JPY 1,540M JPY 3,
Slide 51: Sustainable Real Estate Asset Breakdown (5)
Sustainable Real Estate Asset Breakdown (5) 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 155 Office Fixed Asset Shinagawa-ku, Tokyo JPY 2B-3B 2019/03 35 years JPY 169M JPY
Slide 52: 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 53: Sustainable Real Estate Asset Breakdown (7)
Sustainable Real Estate Asset Breakdown (7) Acquisition Expected Ichigo Equity Forecast Equity Forecast No. Asset Type vs. FY21/2 Q1 Price NOI/Year1 Investment Multiple IRR A Ichigo Owners (Office & Residential) 47 Assets JPY 31,477M -JPY 5,156M JPY 1,553M JPY 9,949M – – B Centro (Primarily Office &
Slide 54: Ichigo Solar Power Plant Portfolio, Total 198.8MW
Ichigo Solar Power Plant Portfolio, Total 198.8MW Ichigo Solar Power Plants (Operating) Ichigo Solar Power Plants (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
Slide 55: 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) Shikoku JPY 14 Hokkaido 2% 3% 2% Tohoku 3% JPY 18 > 5 years Kansai JPY 40 7% 10% 6% 19% JPY 2
Slide 56: 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 purchase 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 o
Slide 57: Consolidated Balance Sheet: Assets
Consolidated Balance Sheet: Assets (JPY million) FY17/2 FY18/2 FY19/2 FY20/2 FY21/2 Q1 FY21/2 H2 vs. FY21/2 Q1 Assets Current Assets Cash and cash equivalents 47,678 45,510 50,225 41,067 44,164 46,083 +1,919 Trade notes and accounts receivable 913 1,097 1,344 2,308 1,686 1,366 -320 Operational loan
Slide 58: 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 FY21/2 H2 vs. FY21/2 Q1 Liabilities Current Liabilities Trade notes and accounts payable 110 – – – – – – Short-term loans 805 1,042 3,275 3,086 4,366 5,713 +1,347 Short-term non-recourse loans 61
Slide 59: Consolidated P&L
Consolidated P&L (JPY million) FY21/2 FY17/2 FY18/2 FY19/2 FY20/2 FY21/2 H1 FY20/2 H1 Change Full-Year vs. (12M) (12M) (12M) (12M) (6M) (6M) (YOY) Forecast Forecast (Revised) Revenue 109,253 57,846 83,540 87,360 32,026 46,185 -14,159 – – Cost of Goods Sold 81,327 30,860 51,413 52,851 23,342 27,560 -
Slide 60: 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 H1 (6M) Cash Flows from Operations Pre-tax income 20,630 20,109 23,079 16,545 4,136 Depreciation 778 1,015 1,696 2,630 2,193 Share-based compensation expenses 223 215 213 194 35 Amortizat
Slide 61: 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 H1 (6M) Cash Flows from Investments Payments into time deposits -6,100 -6 -118 -113 -3 Proceeds from withdrawal from time deposits 201 – 1,060 5,033 – Payments for securities
Slide 62: Ichigo 2030: Ichigo as a Sustainable Infrastructure Company
Ichigo 2030: Ichigo as a Sustainable Infrastructure Company © Ichigo Inc. All rights reserved. 62
Slide 63: 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 64: Go Beyond Real Estate to Address Significant Needs
Go Beyond Real Estate to Address Significant 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
Slide 65: 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 66: 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 67: Ichigo 2030: New Initiatives
Ichigo 2030: New Initiatives © Ichigo Inc. All rights reserved. 67
Slide 68: 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 69: PROPERA: Ichigo's AI Hotel Revenue Management System
Real Estate x IT x Tourism PROPERA: Ichigo's AI Hotel Revenue Management System − Maximizes Hotel Revenues and Increases Labor Productivity − Solves Issues Faced by Hotels and Supports Competitiveness − Developed PROPERA-Lite* Tailored to Hotels’ Needs * Provides limited information on pricing level
Slide 70: Hakata Hotels: Hotel Operations
Real Estate x Tourism Hakata Hotels: Hotel Operations Hotel Operator in Kyushu/Yamaguchi Region Seeing Inbound Tourism Growth – Started operations at 3 hotels on June 1, 2019 and currently operates 13 hotels PROPERA Deployment – Generating 10 to 40% revenue increases p.a. – Sales of PROPERA to non-I
Slide 71: 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 72: TSUBASA+: Real-World Augmented Reality (AR) Game
Real Estate x IT x Entertainment x Sports x Tourism TSUBASA+: Real-World Augmented Reality (AR) Game Investing in TSUBASA+, an AR Game that Uses Smartphone GPS Japanese soccer manga, Captain Tsubasa, with avatars of world- class soccer players Integrates real-world stadiums around the world Game Fea
Slide 73: 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