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Investor Presentaiton

東京大学 THE UNIVERSITY OF TOKYO IUFRO Japan (Owari, T.) 2010/08/18 15 Production & Sales 2009 Volume* (m³) Sales (JPY) JPY/m³ Odds ratio Product (%) 17,828 (%) 59,992,812 USD/m 3 (stumpage=1) 3,365 Stumpage 1 (86.5) (48.9) 39 Pulpwood 646 2,749,049 4,255 1.3 (softwood) (3.1) (2.2) 50 Pulpwood (hardwood) 541 3,691,848 6,824 2 (2.6) (3.0) 80 Sawlog 833 12,493,334 14,998 4 (softwood) (4.0) (10.2) 176 Sawlog 656 17,201,477 26,222 8 (hardwood) (3.2) (14.0) 307 104 26,656,738 257,113 Log (auction) 76 (0.5) (21.7) 3,011 * Stumpage: volume of standing trees; log: volume of logs
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