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J-REIT: Notice Concerning Property Acquisition and Transfer-Premier Investment Co.

Dec 18, 2018
byInvestment in Japan

J-REIT>Premier Investment's announcementPremier Investment Corporation ("PIC") announces that Premier REIT Advisors Co., Ltd.("PRA"), the asset management company for PIC, today decided on the acquisition of an office building and the transfer of an office building.

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Recent News

J-REIT: Acquisition of Two Office Assets and Sale of Two Non-Office Assets-Ichigo Office REIT

Dec 17, 2018
byInvestment in Japan

J-REIT>Ichigo Office REIT's announcementIchigo Office decided today to acquire two office assets and sell two non-office retail assets.

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Noriyuki Morimoto's Blog

Price of a Japanese gourd surging by 6000 times

Dec 17, 2018
byNoriyuki Morimoto

“Seibei and the gourd” is a short story written by Shiga Naoya in 1913. The protagonist of this story is Seibei, a 12-year-old elementary school student who is a big fan of gourds. He obtains a gourd with a good shape for 10 sen, and carefully polishes it. But this gourd is taken away from him when he is found polishing it at school. The teacher gives the gourd to an old janitor. The janitor sells it to an antique shop for 50 yen. The antique shop then sells it at a whooping price of 600 yen to a rich person. This story tells you that something can raise its price exponentially from 10 sen to 600 yen, a 6000 times difference. The biggest contribution to this 6000 times price hike is the excellent trading skill of the antique shop. The shop owner correctly understood the value of the gourd, knew of rich collectors who would willingly pay money to obtain such a good product, and was financially capable of paying 50 yen to the old janitor to obtain the gourd. At the time of buying the gourd at 50 yen, there is no guarantee on how much it would sell for. Nevertheless, the courage to go forward to pay 50 yen based on one’s eye for value is what ultimately led to a successful transaction. Essentially, what led to the antique shop’s great investment was the combination of four strengths: each for valuation, information, finance, and courage. Historical figures who rose to the top in a single generation seem to have had these strengths without exception. However, the price of 600 yen was not created just with the antique shop’s skill. At the very beginning was Seibei, who discovered a good-shaped material and put in the effort to polish it to perfection, creating the gourd’s value. The 600 yen can be broken down into the value of the gourd created by Seibei and the price exceeding its value based on the trading skill of the antique shop, which captured the created opportunity. It was Seibei who had created a valuable gourd. However, without the antique shop, the value created by Seibei would not have been realized in society in the form of a price. The economy is made from the creation and distribution of value: in the course of distribution, value leaves a trail in the form of price. By the way, how was the 600 yen distributed? 550 yen to the antique shop, 50 yen to the janitor, and zero to Seibei, who is actually at a 0.1 yen loss. Although it was probably not Shiga Naoya’s intention to accuse the injustice of this distribution structure.

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Updates

Oct 22, 2018
byHC Asset Management

The Market Data had been updated.

 

Please reffer to the following.

>Equity

>Debt/Bond

>Evolving Investment Opportunities

 

Mar 20, 2017
byHC Asset Management

Our CEO Noriyuki Morimoto contributed an article to 20 March issue of Weekly Financial Affairs

 

Our CEO Noriyuki Morimoto wrote “What does the merger between Trust Companies of Mizuho Group and Mitsui Sumitomo Group lead to?” for 20 March issue of Weekly Financial Affairs

Mar 10, 2017
byHC Asset Management

Our CEO Norinyuki Morimoto contributed a chapter in the textbook for Kinzai’s remote learning program. Kinzai is a leading Japanese publication specialised in finance.

 

Our CEO Noriyuki Morimoto wrote the 1st Chapter “What is fiduciary duty?” for Kinzai’s textbook “Practical Application of Fiduciary Duty Principles”

Feb 01, 2017
byHC Asset Management

Our CEO Noriyuki Morimoto contributed an article to the February issue of Monthly Energy Forum

 

His article “[TEPCO] should strive to become a top global energy utility.” was one of the feature articles for “Big Bang after dismantling of TEPCO”

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