History of Suncity

1992	The Founder and now our previous CEO Yasuhiro Koide set up a small sales agency business with his former junior colleague Taiji Hoshiyama for residential apartments built by more established developers. Hoshiyama is now the deputy CEO. Their small company mainly operated in the eastern part of Japan, centred about the City of Sendai.
1995	Slowly, the business started to grow so we opened an office in Koriyama. Koriyama is a city on the North Eastern High Speed Train System about 80 min away from Tokyo. We saw more demand for apartments so opened another office in Sapporo later that year. Sapporo is the biggest city in Hokkaido, one of the four main islands making up Japan, sharing the border with the Russian Federation. We no longer have offices in those two cities.
1997	We started to make preparations for stock market listing and appointed Chuo as our first external auditor. Chuo later became Chuo Aoyama, which was later dissolved.
1998	We had to get into the Metropolis for more business and it was only a matter of course to open an office in Tokyo. The Company's registered Head Office was then still in the City of Sendai. No one at the time imagined that the Company would be moving the Head Office to Tokyo, certainly not in such a high grade building near the Imperial Palace. It is also worth noting that our Koriyama and Sapporo Office were extended in the same year, and the Company issued a 22 million Yen Convertible Bond to a venture capital in Tokyo.
1999	In Japan, it is a common practice for a company seeking stock market listing to do some private placement. The Company issued a 49.5 million Yen Convertible Bond to a listed venture capital, Japan Asia Investment Co., Ltd. (Ticker:8518) and another tranche of 245 million Yen later in that year.
2001	Yokohama was expected to surpass Osaka in terms of consumer spending and demand for housing. Eager to capture more opportunities, we opened a new office in Yokohama.
2002	The Company floated on JASDAQ. 8910 was assigned as our ticker.
2003	We opened an office in the city of Morioka. Morioka is also on the North East High Speed Train System, about two and a half hours from Tokyo. More space became available in Tokyo Office so Yokohama Office was closed and the personnel all moved to Tokyo.
2004	The Company’s common shares were transferred from JASDAQ to Tokyo Stock Exchange Section II in our effort to seek better recognition from investors. We saw strong potential in the city of Omiya, one of the satellite cities around Tokyo, approximately 30 min by train, so we opened another office there. It is also worth noting that non-Japanese buyers were becoming very active in Japan and the money started to flow in large volume into real estate. We started selling our properties to such institutional buyers in both residential and commercial categories. Many real estate stocks began to sky-rocket this year.
2005	As the interest from non-Japanese institutional buyers grew, we began to focus more on developing large commercial complexes for such big buyers. To finance large projects, the Company issued a 4.5 billion Yen Convertible Bond to Nomura. In the same year, we opened a new office in Akita. Akita is a small city off the coast of the Sea of Japan approximately 750 km north of Tokyo. Akita was yet to see modern, earthquake resistant high-rise apartments. Our view was that we could take the “first-comer benefit” in such a relatively undeveloped part of Japan.
2006	Began offering earthquake resistant detached houses as a new product line. Transferred to Tokyo Stock Exchange Section I, the most reputable exchange listing in Japan.
2007	To achieve dominance in the eastern half of Japan, we opened a new office in Yamagata. Yamagata is an inland city half way between the Sea of Japan and the Pacific Ocean. In the same year, we acquired an unlisted residential developer Chiken Co., Ltd. to expand south beyond Tokyo.
2008	Moved the Head Office to Tokyo in May, in an attempt to attract more talent. Before trying to get our stock price up in extremely harsh market conditions, the quality of our decisions needs to be higher first and we must invest into the implementers of such decisions. Without good people, it is not possible to improve the quality of our earnings. Our capacity to invest has been severely hit by rapidly deteriorating property markets all over the world, but we will wage through and persevere.
2009	The registered Head Office was moved to Hacchobori from Marunouchi, 10 min walk froom the Tokyo Station.