12 http://www.jhrth.co.jp/
8,166 1,431 750 474 473 46,773 23,635 CONTENTS 04 06 24 40 42 43 44 54 55 56 58
MESSAGE FROM THE PRESIDENT 12 8,166 8 9 10 11 12 1,256 697 361 360 8,542 40,138 472,091 1,248 693 397 385 9,133 40,146 472,682 1,255 679 342 340 8,080 39,887 471,629 1,419 799 494 493 8,502 46,761 33,969 1,431 750 474 473 8,166 46,773 33,941 04 05
06 07
87.6% 24.04% 10.3% 2.1% 08 09
10 11
12 13
B-1 B-2 B-3 B-4 B-5 B-6 B-7 B-8 B-9 B-10 B-11 B-12 B-13 B-14 B-15 B-16 B-17 B-18 R-1 B-1 B-2 B-3 B-4 B-5 B-6 B-7 B-8 B-9 B-10 B-11 B-12 B-13 B-14 B-15 B-16 B-17 B-18 R-1 14 15
R-1 THE BEACH TOWER OKINAWA B-2 PEARL HOTEL KAYABACHO B-1 IBIS TOKYO SHINJUKU B-3 B-4 DORMY INN SUIDOBASHI KAMOGAWA INN NIHONBASHI 16 17
B-5 B-8 HOTEL URBAIN KAMATA ANNEX R&B HOTEL HIGASHI-NIHONBASHI DORMY INN ASAKUSA B-6 B-9 DORMY INN NANBA B-7 VISTA HOTEL KAMATA B-10 HOTEL SUNROUTE NIIGATA 18 19
B-11 TOYOKO INN HAKATAGUCHI EKIMAE B-14 HOTEL VISTA HASHIMOTO B-12 B-13 HOTEL RESOL SAPPORO MINAMINIJYOU R&B HOTEL UENO HIROKOJI B-15 B-16 COMFORT HOTEL SHIN YAMAGUCHI THE MILLENNIA HOTEL MATSUYAMA 20 21
B-17 COMFORT HOTEL TOKYO HIGASHI NIHONBASHI B-18 DORMY INN KUMAMOTO 22 23
1 2 24 25
3 4 5 26 27
6 7 28 29
1 2 3 4 1 30 31
2 3 32 33
4 5 1 2 6 34 35
3 1 2 3 4 36 37
1 2 3 1 2 3 4 4 5 38 39
40 41
42 43
44 45
46 47
48 49
50 51
52 53
54 55
56 57
I n v e s t o r I n f o r m a t i o n 24 3 5 6 12 25 2 3 6 58 59