Executive Summary
Japan Residential Investment Company Limited's investment objective is to provide Shareholders with stable income together with capital growth. The Company intends to invest (initially through a Tokumei Kumiai (TK)or silent partnership arrangement and subsequently if appropriate through one or more Tokutei Mokuteki Kaishas (TMKs)) in and hold Japanese residential property predominantly in major conurbations which offer attractive yields and the potential for capital growth. Up to 15 per cent. of the gross asset value (calculated at the time of investment) may be invested in commercial property, where for example a mixed portfolio of properties is acquired, although it is not the intention of the Company to actively invest in commercial property. The Company's Investment Advisor, KR Halifax Asset Management, will identify suitable properties for investment and will provide asset management services to the Group. The Investment Advisor is a sister company of Colliers Halifax and is able to utilise certain resources, including staff, of Colliers Halifax until the Placing Proceeds are fully invested. Colliers Halifax was established in Japan in 1952 and has advised on real estate transactions valued in aggregate at over Yen400 billion (T1.8 billion). Colliers Halifax is a leading real estate consultant in Japan and since 1988 has represented the Colliers International Group in Japan. The Company has five non-executive directors who have investment company and real estate experience.
