Section 6. Toward Our 100th Anniversary and Beyond

In December 2023, Daibiru acquired a major partial interest in 63 Ly Thai To, a grade-A office and commercial building located in Hoàn Kiếm, the central business district (CBD) of Hanoi, Vietnam. The property is located at an intersection of elegant thoroughfares. The landmark Hanoi Opera House and the Hanoi Stock Exchange are located at the same intersection, and the immediate vicinity includes five-star hotels, upscale boutiques, and major government agencies, making it an optimal location for an office and commercial building. The property boasts high rents and high occupancy rates even 25 years after construction thanks to the high-quality management of the developer, an affiliate of Hongkong Land—a company involved in real estate investment, operation, management, and development. The CornerStone Building, another building in the Hoàn Kiếm district that is owned and operated by Daibiru, is located close by, and we believe that tenant services can be further improved by combining the high-quality building operation and management expertise that has been developed at the two buildings. This acquisition was part of Daibiru’s efforts to strengthen its overseas business as described in “BUILD NEXT. 2035 Daibiru Group Medium- and Long-Term Management Plan,” whose first year would be FY2023.

In this transaction, Daibiru acquired a 100% share of 63 LTT Limited Partnership (Bermuda), which owned an 83.42% share in Doan Ket International Company Limited, the operator and 100% owner of the building.