Nagoya Region

No. Golf course Appraisal Value
(JPY million)*1
Location Area (m2) Number of Holes Year of Acquisition by the Sponsor Revenue FY16/17
(JPY million)*2
Utilisation Rates FY16/17(%)*3
1 Yokkaichinosato Golf Club 2,540 Yokkaichi-Shi, Mie 661,573 18 2009 727 84.1
2 Shinyo Country Club 2,100 Toki-Shi, Gifu 1,495,987 18 2005 693 88.0
3 Fujiwara Golf Club 1,970 Inabe-Shi, Mie 1,278,719 27 2005 755 75.8
4 Castlehill Country Club 1,970 Toyokawa-Shi, Aichi 1,635,889 18 2009 667 82.0
5 Kasumi Golf Club 1,400 Tsu-Shi, Mie 869,786 18 2009 513 80.8
6 Forest Mizunami Country Club*3 1,370 Mizunami-Shi, Gifu 1,079,483 18 2008 549 87.6
7 Forest Geino Golf Club 1,310 Tsu-Shi, Mie 592,471 18 2009 480 74.5
8 Tsukude Golf Club 1,290 Shinshiro-Shi, Aichi 435,805 18 2009 573 80.8
9 Sorei Golf Club Seki Course 1,260 Kameyama-Shi, Mie 704,063 18 2005 403 74.9
10 Sun Classic Golf Club 1,040 Kani-Gun, Gifu 1,058,367 18 2008 553 93.9
11 Route 25 Golf Club 929 Iga-Shi, Mie 961,379 18 2007 488 78.8
12 Meisho Golf Club 705 Tsu-Shi, Mie 1,345,960 18 2005 402 71.7

*1 Based on real estate appraisals as at 31 December 2016 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).