Tokyo 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 Daiatsugi Country Club Hon Course 8,390 Atsugi-Shi, Kanagawa 1,258,046 27 2005 1,342 87.3
2 Daiatsugi Country Club Sakura Course 6,900 Atsugi-Shi, Kanagawa 813,283 18 2005 1,111 110.1
3 Northern Country Club Nishikigahara Golf Course 4,430 Saitama-Shi, Saitama 1,328,762 43 2005 1,208 84.6
4 Tokyowan Country Club 3,880 Sodegaura-Shi, Chiba 856,861 27 2005 1,020 81.9
5 Tsuchiura Country Club 3,760 Inashiki-Shi, Ibaraki 814,039 27 2005 915 84.7
6 Odawara Golf Club Matsuda Course 2,930 Ashigarakami-Gun, Kanagawa 609,524 18 2007 673 89.6
7 Central Golf Club*3 2,850 Namegata-Shi, Ibaraki 1,908,836 36 2005 1,005 76.7
8 Fujioka Golf Club 2,760 Fujioka-Shi, Gunma 1,216,014 36 2008 734 71.4
9 Yorii Country Club 2,690 Osato-Gun, Saitama 781,816 18 2006 673 81.5
10 Aqualine Golf Club 2,650 Kisarazu-Shi, Chiba 812,297 18 2006 643 78.4
11 Mito Golf Club 2,460 Mito-Shi, Ibaraki 1,453,942 36 2005 856 69.7
12 Naritahigashi Country Club 2,440 Katori-Shi, Chiba 772,311 18 2005 600 81.5
13 Chiba Sakuranosato Golf Club 2,130 Katori-Shi, Chiba 948,171 18 2005 562 82.8
14 Sawara Country Club 2,090 Katori-Shi, Chiba 759,508 18 2005 652 83.1
15 Kanetsu Highland Golf Club 2,050 Takasaki-Shi, Gunma 1,047,405 27 2008 620 80.6
16 Minagawajo Country Club 2,040 Tochigi-Shi, Tochigi 569,047 18 2005 615 77.9
17 Ohiradai Country Club 1,850 Tochigi-Shi, Tochigi 797,090 27 2005 623 75.1
18 Tamagawa Country Club 1,580 Hiki-Gun, Saitama 1,054,979 18 2005 555 80.2
19 Kanra Country Club 1,480 Kanra-Gun, Gunma 1,156,822 18 2007 488 81.5
20 Sainomori Country Club*3 1,460 Chichibu-Shi, Saitama 1,243,143 18 2005 625 80
21 Wildduck Country Club 1,410 Kamisu-Shi, Ibaraki 836,671 18 2008 476 76.7
22 Central Golf Club New Course*3 1,400 Namegata-Shi, Ibaraki 1,030,232 18 2005 484 79.7
23 Kodamakamikawa Country Club 1,380 Kodama-Gun, Saitama 1,088,693 18 2005 530 84.8
24 Myogi Country Club*3 1,300 Tomioka-Shi, Gunma 803,549 18 2005 989 75
25 Koryo Country Club 1,100 Kanuma-Shi, Tochigi 984,175 27 2007 509 65.6
26 Ishioka Golf Club West Course 1,090 Kasama-Shi, Ibaraki 1,262,015 18 2005 551 84.9
27 Midono Country Club 1,070 Fujioka-Shi, Gunma 1,668,200 18 2005 518 85.9
28 Hanao Country Club 1,070 Isumi-Gun, Chiba 1,242,026 18 2005 509 83.9
29 Twin Lakes Country Club 935 Fujioka-Shi, Gunma 1,280,567 18 2005 553 84.4
30 Kamogawa Country Club*3 699 Kamogawa-Shi, Chiba 889,599 18 2005 599 81.9
31 Chichibu Kokusai Country Club 641 Chichibu-Gun, Saitama 784,338 18 2006 336 71.2
32 Northern Country Club Akagi Golf Course*3 437 Shibukawa-Shi, Gunma 1,516,533 27 2005 376 62.7
33 Kitsuregawa Country Club*3 355 Sakura-Shi, Tochigi 1,084,069 27 2008 518 64.4
34 Northern Country Club Jomo Golf Course 192 Agatsuma-Gun, Gunma 908,267 18 2005 225 70.7
35 Village Higashi Karuizawa Golf Club*3 85 Annaka-Shi, Gunma 748,362 18 2008 282 65.3

*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).