Asia Gate Holdings Co., Ltd.

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To Shareholders and Investors

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To Shareholders and Investors

Thank you for your continued support.

In 2020, as the first major disaster for humankind, the new coronavirus infection spread all over the world. Under such circumstances, it was a year that economic activities severely impacted by pandemic, and for dealing with the impact, new changes occured meanwhile.

As for the Group, it was a fiscal year in which we took on the challenge of "Creation of Social Contribution" as a major theme. In March of this year, we sold our original construction company, and in July we acquired the real estate consulting company NS Asset Management. In addition to making it possible to secure more stable profits than ever before, the aim was to make it meaningful to take on the social issue of "countermeasures for vacant houses."

As well as solutions for visualizing investment risks, the real estate consulting business also provide chances for investors to invest in non-rebuildable properties, etc., which have not received much attention until now. We believe this has positive influences on investors in response to the promotion measures for vacant houses by each local government.

In the real estate business, accommodation facilities were forced to shift to domestic demand due to the decline of inbound demand, and although the impact on rent income was minor for other real estate for sale, revaluation was made due to changes in office demand. Regarding this business, we plan to review the property portfolio in collaboration with the consulting business.

The golf business was hit during peak demand due to the government's declaration of emergency situation, but after the cancellation, the number of customers is gradually recovering. However, as we have already announced, we plan to sell this business in January 2021 because we have determined that it will be difficult to eliminate the financial burden on our financial position from a medium- to long-term perspective.

Under these circumstances, the Group will improve its internal structure and cost efficiency, and promote new businesses, M & A, and business alliances with other companies to further improve shareholder value and corporate value. The whole Group will continue to work zealously, and we look forward to your continuous support.

Asia Gate Holdings Co., Ltd.
Representative Director Atsushi Matsuzawa

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