You actually have the privilege to own a piece of history.

My name is Yong Chye.

I did Economics at Osaka University.

Four of us started this serviced accommodation business

in the heart of Kyoto,

consisting of restored Kyoto townhouses or machiya.

The first two buildings that we invested in are over 100 years old.

They have seen many people.

They have had the experience of many people living in them.

Kyoto was one of the places in Japan

that was spared the bombings in WWII.

Many parts of Kyoto are very well-preserved.

This is the heritage that

we have a privilege of being a part of

as owners of real estate in Kyoto.

This is the part that really appealed to me.

If we want to do something, we have to do it well.

I suppose it wouldn't be a stretch to say that

the Japanese craftsmen that we worked with

brought this to the extreme

in seeking that perfection.

Previous renovations and refurbishments

were done probably in the 70s or 80s.

They actually drilled away the timber beam

to create a space for the gas pipe to go through.

Then we said, okay.

We need to do something about that.

The craftsmen actually not only

carved out a piece of wood

for the entire length of that beam

that could fit in just like a Jenga block.

They actually sanded it down and

varnished the entire beam

such that it looked like one perfect beam.

To top it all off,

it's actually hidden by a false wall today.

Japan has an onerous taxation system.

There are many instances where

the beneficiaries would have to end up demolishing old buildings

because they had to raise funds to pay the inheritance taxes.

We thought that it would be meaningful

for us as students of Japan

to pitch in with our own resources

to play a part in preserving this heritage

not just for Japan,

but for the rest of the world

to continue to come to appreciate and enjoy.

Given that foreign travel is non-existent,

we've also worked hard

to pivot towards other sources of demands.

That took the shape of focusing on

a monthly leasing model.

Hopefully in the second half of the year,

when vaccination programs are ramped up further

and gain tractions,

there'll be more confidence as well as

natural flows from both domestic and foreign tourists.

Hopefully then, we will finally see

light at the end of the tunnel.