Detailed Description of Portfolio Companies of Fund II
Bestland Co., Ltd. （formerly Myland Real Estate Co., Ltd.）
| Features | The company established its presence in all 46 prefectures in Japan within 2 years from its inception in 2010 and succeeded in securing a top-class market share in the existing home market in Japan. It focused on affordably priced existing properties to capture stable demands of first-time buyers and such strategy was proved to be effective resulting in a rapid growth. Its inventory management achieved a turnover rate higher than the market average. The company merged with Land Asset Co., Ltd., an existing property dealer of OGI Group, on July 1, 2014 and solidified its leading position in the existing home market. |
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| Investment Pattern | Business Succession Subscription for new shares |
| Investment Theme | To help the company focus more on profitability rather than revenue as the company’s strategy is shifting from the initial network expansion to the business/profit growth and to support the company’s enhancement of business administration and financial control capability. |
| Date of Exit | October 2020 |
| Exit Pattern | Trade sale of entire holding to AQUA RESORT CO., Ltd. |
| Exit Story | In conjunction with the transition from the phase of nationwide development to the phase of growth/expansion, the company achieved reinforcing a profitability-conscious sales structure and enhancing the business portfolio for profitable condominiums/buildings areas. Although the company had been strengthening management functions and developing internal management/governance systems with aiming for IPO, it is required to abandon for the time being due to the spread of COVID-19 in addition to deplorable events repeated in the real estate industry. The company will continue to aim for IPO and has realized the exit through the trade sale to AQUA RESORT CO., Ltd., which supports the IPO strategy. |
