The following is the land value report for the 2nd quarter (1/4 to 1/7), which indicates the pace of land value drop slows in most areas.
http://tochi.mlit.go.jp/english/look/1-04-11.pdf
"In the Tokyo metropolitan area (65 districts), land values rose or remained flat in 14 residential districts and nine commercial districts. In the Osaka metropolitan area (39 districts), more than half districts saw flat land values in Kyoto and Hyogo Prefectures and the land prices of all districts in Osaka Prefecture kept falling."
Given the majority of AJA's portfolio is in Tokyo area, the improvement in the downward price movement is encouraging, albeit a bit too slow.
I expect the 3rd quarter will bring us a slightly better result.
DYOR and have a good weekend.
Snowfree
AJA Price at posting:
$3.35 Sentiment: LT Buy Disclosure: Held
