In 1996, Sumitomo Realty launched the Shinchiku Sokkurisan Full Remodeling Package. This product addresses the concern that remodeling can sometimes be more expensive than rebuilding in Japan due to the risk of cost overruns. With Shinchiku Sokkurisan, a house can be fully remodeled at 50% to 70% of the cost and in half the time required to rebuild it. And because Shinchiku Sokkurisan uses fewer materials, it is also environmentally friendly. We were the first major real estate company to offer this type of product, and Shinchiku Sokkurisan has been well received in the marketplace. Cumulative sales have surpassed 80,000 units, and we anticipate continued growth in Shinchiku Sokkurisan sales in the years ahead.
REMODELING (Shinchiku Sokkurisan)
In 1995, Sumitomo Realty launched the American Comfort line of high-quality, low-cost Western-style homes in Japan using the know-how that the Company acquired in building and selling homes constructed with the two-by-four method in California.
In April 2003, we launched the J·URBAN home design, which combines the excellent security features of condominiums with the superior ventilation and lighting of detached houses. J·URBAN has been highly evaluated in the marketplace and has received a Good Design Award from the Japan Industrial Design Promotion Organization. In January 2012, we commenced sales of a new product called J·RESIDENCE.