Recko. Appreciate your concern.Japan real estate is turning...

Recko. Appreciate your concern.
Japan real estate is turning around. Have a look at the J-reit index. Its up 20% past year. The write-downs will reverse shortly in my opinion.

http://www.bloomberg.com/apps/quote?ticker=TSEREIT:IND#chart

Action is hotting up in sector thanks to the Bank of Japans stimulus program that specifically targets Reits. Japan has a problem with continuing deflation, and the government is painfully aware it needs to reverse this. I think they are on a winner targeting the real estate sector. If they can get that ball rolling in the right direction, capitalism will do the rest. Japanese have plenty of wealth to throw at real estate, they just need to believe it is a good investment. The yields are definitely there, they just need to be sure values have bottomed.

I would rather look to the future than the past. This is a stock trading at a massive discount to its NTA. Opportunities to extract some or all of that value will come IMO. Patience and a bit of luck is required.