Shenjumiaosuan (Head office: Minato-ku, Tokyo; Representative Director: Zhao Jie; hereinafter "Shenjumiaosuan"), one of our group companies, conducted a survey on "interest in and willingness to purchase Japanese real estate" among 100 investors in Greater China who are interested in Real estate investment on Shenjumiaosuan, the largest Japanese real estate platform (*1) in Greater China.

The impact of this matter on our business performance will be minor.

*1 Based on the number of properties posted on the inbound Real estate investment portal site (as of the end of April 2020), according to research by Shini Shenjumiaosuan (former NeoX Co., Ltd.)

• 89% of investors in Greater China answered that they would go to see real estate in Japan if they could travel abroad.
• The budget for purchasing investment real estate in Japan is 10 million yen to 30 million yen, which is the largest at 34.7% of the total.
• As for the location of investment properties, Tokyo, the capital, was the most interested at 47.5%, followed by Hokkaido at 19.8%, and Osaka/Kyoto at 14.9%.
• 40.6% of Japanese Real estate investment are most interested in floor plans for 1R/1K, 28.7% for whole buildings, and 12.9% for tower condominiums.
• The top reason for investing in Japanese real estate is “stable income” at 33.8%, followed by “yield” at 32.5%.