Greeting

President Starts Proceed Investment Corporation listed on the Jasdaq Securities Exchange (currently JASDAQ market in Osaka Securities Exchange) in November 2005 as a real estate investment trust (J-REIT) specializing in rental housing. Later in July 2010, Starts Proceed transferred its listing to the Tokyo Stock Exchange (securities code: 8979).

The basic approach taken by Starts Proceed is described in the phrase “gradual, reliable and long term.” As this phrase expresses, it is our goal to achieve steady growth in assets under management and secure stable earnings. (The Jasdaq Securities Exchange later became the JASDAQ market in Osaka Securities Exchange and Starts Proceed's listing was abolished on October 1, 2010).

Starts Proceed has conducted multiple public offerings since listing and acquired assets centering on the quality rental housing developed by the Starts Group, our sponsor. As a result, the J-REIT has grown to a portfolio size exceeding 80 billion yen. We are thankful for the warm support of our unitholders that has made this growth possible.

There are two main characteristics that best represent the uniqueness of Starts Proceed. First is the ability of Starts Proceed to acquire properties that utilize the development experience of the Starts Group in residences based on the broad alliance among the respective members Group including Pitat House. The second is that the structure of the Starts Group enables us to provide detailed services ranging from the solicitation of tenants to the management of properties. Starts Proceed aims for a portfolio of 100 billion yen in the medium to long term and to resolutely secure stable earnings.

We thank you for your continued support and patronage.


Kazuya Hiraide
Executive Director
Starts Proceed Investment Corporation