Overseas Business
Intending to diversify and structure business portfolio:
Business development centered on Asia, a region of remarkable growth
We launched our overseas business in 2017 with a main focus on Asia so far. By working on real estate-related business in overseas regions that have prospects of speedy and high economic growth, we build up a business portfolio on a global basis, aiming to hedge risks from the fluctuating domestic real estate market and achieve further business growth.
Southeast Asia
In Vietnam, Philippines, and Cambodia, we have achieved results in property development, sales and acquisitions, brokerage, etc. In Southeast Asia, the hike in interest rates associated with the current global inflation, as well as the decrease in investments from China, the region’s economic powerhouse, have seen a little slowdown in the growth speed of the real estate market compared to the pre-Covid times. However, the age distribution of the population, which holds the promise of future growth, and the trend in the relocation of the production base seem to be continuous for the time being, and we expect the return to a higher growth path in the medium run. We take advantage of the expertise and insight harvested from our Southeast Asian projects and continue to identify business opportunities and turn them into projects.
Republic of Uzbekistan
Uzbekistan has a population of 36.03 million people (as of 2023), about half of the five Central Asian countries combined (78.46 million people, as of 2022) in a land approximately 1.2 times larger than Japan, which makes it a major player in the region. Its average population growth rate for the past five years has been 1.9%; with people aged 15 and younger making up approximately 30% of the population and the average age being 29.1 years old (as of early 2022), having a wealth of young working force is also one of the characteristics of the country.
In addition, since President Mirziyoyev took on his current post in 2016, he has promoted a democratization policy, abolished organized forced labor, liberalized foreign currency restrictions, and improved the relations with neighboring countries, which led to significant economic development and fast urbanization going on at the same time.
In this country that shares with Japan the problem of being prone to earthquakes, we provide building management services based on Japanese quality standards for rapidly increasing high-rise buildings and commercial facilities. We also plan to launch an asset management business as the basis for overseas investment, a logistics development business that has been short of supply, etc.
