The Prospect Japan Fund Ltd.: Announcement Concerning the Business Progress

ST. PETER PORT, Guernsey, November 1, 2017 /PRNewswire/ --

Progress (preliminary report) of condominium sales business, overseas real estate business and solar business as of the end of September, 2017 are as follows.

Record

    1. Condominium sales business 
        (1) Contracted             77 units, JPY 3,015 million (April 2017 - September 2017) 
        (2) Sold Out Project       "Grobel Kita-Toda Station Arena" - 39 units
                                   (Toda-shi, Saitama Prefecture)
                   (3) Acquisition of new land
                                   [Shakujiikoen Project] (Nerima-ku, Tokyo)
                                   5-minute walk from Seibu-Ikebukuro Line
                                   "Shakujiikoen" Station
                  * This project is planned to be located on a calm and quiet street
                    with abundant greenery, in close proximity to Shakujii Park,
                    while maintain good access to the city center. The approach from
                    the train station is through an outdoor shopping district.
                                   [Hitotsubashi Gakuen Project] (Kodaira-shi, Tokyo)
                                   3-minute walk from Seibu-Tamako Line
                                   "Hitotsubashigakuen" Station
                  * This project is planned to combine comfortable living 
                    environment and convenience. It is in a quiet residential area
                    with the beautiful cityscape maintained as an academic center,
                    and a mere 3 minutes on foot from the train station.
    2. Overseas real estate business 
        Name                   KEAUHOU PLACE
        Address                Honolulu, Hawaii USA
        Units for Sale         422 units
        Reserved/Contracted    414 units (98.1%)
        Completion             17 October 2017
                  * The project is a joint development project with Honolulu City
                    developer Stanford Carr Development, LLC.
    3. Solar business
        (1) Projects in operation    5 Projects - Approx. 9.22MW (company equity basis)
                                     Apr 2017 ~ Sep-end electricity sales 
                                     (ex. Tax) JPY 225 million.
              (2) Projects Under Development (Total: Approx.39.7 MW   company equity basis   
                    

1. Sendai Project

        Address              Nishikigaoka, Aoba-ku, Sendai-shi, Miyagi Prefecture
        Site Area            Approx.97,000    
        Installed capacity   Approx.1.81MW   Panel Output   
        Operation start      January 2018 (Planned   
        Power selling price  JPY 36   kWh   excluding tax   20 year fixed   

2. Utsunomiya Tokujiro Project

        Address             Tokujiromachi, Utsunomiya-shi, Tochigi Prefecture
        Site Area           Approx.93,800    
        Installed capacity  Approx.4.78 MW   Panel Output   
        Operation start     December 2017   Planned   
        Power selling price JPY 36   kWh   excluding tax   20 year fixed   

3. Higashi Hiroshima Project

        Address             Shiwa Cho, Higashi Hiroshima-shi, Hiroshima Pref.
        Site Area           Approx.1,130,000    
        Installed capacity  Approx.18.68 MW   Panel Output   
        Operation start     July 2018   Planned   
        Power selling price JPY 36   kWh   excluding tax   20 year fixed   

4. Narita Kozaki Project

        Address             Kozakimachi Katori-gun / Narita-shi Chiba Prefecture
        Site Area           Approx.540,000    
        Installed capacity  Approx.24.00 MW   Panel Output   
        Operation start     Autumn 2018   Planned   
        Power selling price JPY 36   kWh   excluding tax   20 year fixed   

5. Okayama Aida Hikari Project

        Address             Nakagouchi, Mimasaka-shi , Okayama Prefecture
        Site Area           Approx.606,000    
        Installed capacity  Approx.38.00 MW   Panel Output   
        Operation start     October 2021   Planned   
        Power selling price JPY 32   kWh   excluding tax   20 year fixed   

6. Sanbu Minami Project

        Address             Shiizaki, Sanmu-shi, Chiba Prefecture
        Site Area           Approx.32,000    
        Installed capacity  Approx.1.80MW   Panel Output   
        Operation start     Autumn 2018   Planned   
        Power selling price JPY 36   kWh   excluding tax   20 year fixed   

* The figures stated are preliminary figures. For the confirmed figures, please refer to the summary of financial results to be disclosed on Friday, November 10, 2017.

        

        Contact: 
        Representative Director 
        Masato Tabata 
        TEL: 03-3470-8411

SOURCE The Prospect Japan Fund Ltd