Investor Presentaiton

東京大学 THE UNIVERSITY OF TOKYO IUFRO Japan (Owari, T.) 2010/08/18 10 Log Production 2007-2009 ■ Production volume □ 2,500 - 3,500 m³ ■Yield rate (Tree > Log) □ 74-77% 4,000 3,500 41 3,000 1,663 104 2,500 39 ■ % by species Softwood: 52 - 62% Hardwood: 38 - 48% Log production (m³) 2,000 885 1,500 1,197 1,000 1,841 1,532 Hardwood (auction) 1,479 Hardwood 500 (landing) ■ % by sales Softwood (landing) Landing: 96 - 99% 0 2007 2008 2009 ☐ Auction: 1 - 4%

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