fy08 net 121.63, page-11

DBK,

At this price with that little amount of debt at under 2%pa interest and the yen being relatively cheap, this is fundamentally a bargain. Their properties are in growth areas too.

BUT...I reckon the big risk is the earthquakes.

I bought this topic up a while back and was laughed at. It is a real risk. I am sure they would be covered by insurance for the properties, but rebuilding to a point where they could receive the same rental income again would take a long time...maybe over a decade.

The big one that has historicly hit Tokyo for centuries is overdue. When it hits, it will be one of the biggest natural disasters of modern times.

Hope I'm wrong, but it is a definate risk.