- Available Distribution per Unit (DPU) for 3Q FY 15/16 of 2.16 cents, 12% higher than the corresponding quarter a year ago
- Operating profit rose 17% to JPY 4,234 million, attributed by the favorable weather conditions in October to December 2015
- Net Asset Value (NAV) stood at SGD $0.89
- Distribute back the 10% Retained Distributable Income from 1 Apr 2015 to 30 Sept 2015 back to Unitholders
1. Economy recovered from the earthquake in 2011 and has been stimulated by Abenomics (refers to the economic policies advocated by Shinzō Abe since the December 2012 general election. Abenomics is based upon fiscal stimulus, monetary easing and structural reforms.)
2. Year 2020 Tokyo Olympics is expected to have positive impacts on the Japanese economy.
Sound demand from senior players
1. Golf continues to be a popular and good sport for seniors
2. Baby boomers have been retiring who have the money and more time to play golf
Inbound tourism in Japan
1. Estimated number of foreign visitors increase 47% y-o-y and reached 19.7 million in 2015 (I am sure alot of people would like to visit Japan as one of their choice for holiday.)
2. Potential to impact demand for golf in the mid-to-long term
Accordia Golf Trust has a very strong branding and is the largest golf operator in Japan. The operation team and management is very efficient in managing the golf course operation. Their strategy is to target middle class working people into playing golf in Accordia. They provide casual atmosphere with reasonable play fees. They had a large pool of loyal customers base that subscribed to their golf club membership.
With a strong set of good result from this quarter result, I am very happy to be vested in Accordia Golf Trust. If they continue to churn out good results on every quarter, I'm sure by Year 2020 when they hosted the Tokyo Olympics, the shareholders will be rewarded with the growth and stable income distribution by investing on them.
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