Nagoya Region

No. Golf course Appraisal Value
(JPY million)*1
Location Area (m2) Number of Holes Year of Acquisition by the Sponsor Revenue FY15/16
(JPY million)*2
Utilisation Rates FY15/16(%)*3
1 Yokkaichinosato Golf Club 2,470 Yokkaichi-Shi, Mie 661,573 18 2009 731 83.1
2 Shinyo Country Club 2,100 Toki-Shi, Gifu 1,495,987 18 2005 699 84.9
3 Fujiwara Golf Club 2,010 Inabe-Shi, Mie 1,278,719 27 2005 800 76.5
4 Castlehill Country Club 1,970 Toyokawa-Shi, Aichi 1,635,889 18 2009 674 81.3
5 Kasumi Golf Club 1,480 Tsu-Shi, Mie 869,786 18 2009 543 82.0
6 Forest Geino Golf Club 1,420 Tsu-Shi, Mie 592,471 18 2009 495 75.7
7 Forest Mizunami Country Club*3 1,400 Mizunami-Shi, Gifu 1,079,483 18 2008 541 81.3
8 Tsukude Golf Club 1,330 Shinshiro-Shi, Aichi 435,805 18 2009 614 80.1
9 Sorei Golf Club Seki Course 1,260 Kameyama-Shi, Mie 704,063 18 2005 447 79.5
10 Sun Classic Golf Club 1,050 Kani-Gun, Gifu 1,058,367 18 2008 569 92.5
11 Route 25 Golf Club 938 Iga-Shi, Mie 961,379 18 2007 509 76.9
12 Meisho Golf Club 770 Tsu-Shi, Mie 1,345,960 18 2005 405 72.5

*1 Based on real estate appraisals as at 31 December 2015 conducted by the Independent Real Estate Appraisers.
*2 Revenue includes play fees (green fees and cart fees), caddy fees, restaurant charges, membership fees and other revenues from the golf course.
*3 Utilisation rate = Total no. of visitors per 18 holes/(Total operating days x 200 persons).