31/12/2009 rates were 74.4 yen for 1 AUD30/06/2010 rates were...

31/12/2009 rates were 74.4 yen for 1 AUD
30/06/2010 rates were 84.7 yen for 1 AUD
26/08/2010 rates ARE 75.3 Yen for 1 AUD

So the FX rates will push the NTA down in the financials as they will be as at 30/06/2010, but obvioulsy this loss has not been realised and given the appreciation of the Yen since we are basically back to where we were at 31/12/2009.

Of interest will be any property valuation, looking at AJA one would expect downward pressure, but I believe GJT were more ruthless with writedowns earlier than AJA, time will tell. Still plenty of equity here on the cheap, my opinion only