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Uncertainty is everywhere in today's world. Under such circumstances, however, Japan is finally beginning to see an end of the decades' long deflation and our expectation for economic recovery started to increase. The real estate market is one of the first industries to experience this economic shift; the shortage of skilled workers already pushed the costs of construction far higher. I assume most people stay optimism for a while. However, this situation varies asset by asset and I must admit that we will be in a critical condition in the near future.

Xymax Group became independent from its former parent company Recruit in January 2000 by management buyout. Since then, we have gained reputation and solidified our position as the pioneer in property management in Japan's real estate investment market.

Although the real estate investment market has been the spotlight of many people since the start of J-REITs, it is only a part of the real estate industry. Companies in general now started to see real estate more important than before, as assets in the corporate strategy and as a source of business. They need to have a corporate real estate strategy.

The real estate market is not only about investing. Companies are sometimes a real estate investor but at the same time they are also a user of the real estate who occupies the property to run their business. They either purchase a building or lease a space for their business and then eventually they will need to sell it and purchase another building, or end the lease and sign another lease.

Xymax takes this opportunity to expand our services to real estate occupiers in addition to real estate investors who are our long-time clients. We believe that the real estate strategy will be even more important for every company in the future.

We always appreciate your sincere support and hope you will continue to choose us in the future.

Representative Director Masafumi Shimada
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