Organization Chart

Board of Directors
The Board of Directors of Touchstone Capital Securities (TSCS) directs and oversees all aspects of the company’s business and has established the Risk Management Committee and Compliance Committee to assist in its duties. The Board reviews management strategies and policies, monitors its own performance as well as that of senior management, formulates and periodically reviews the company’s Compliance Policy and oversees the company’s financial reporting and compliance with laws, regulations and internal policies.

Risk Management Committee
The Risk Management Committee is responsible for maintaining an ongoing assessment of all risks affecting every aspect of the company’s operations, including risks pertaining to investment decisions, business processes and information security, as well as examination of ways to mitigate such risks or to repair damage from adverse impacts caused by the materialization of such risks.

Compliance Committee
The Compliance Committee is responsible for effectively implementing, enforcing, reviewing and amending the company’s Compliance Policy to ensure ongoing compliance with all applicable laws and regulations that pertain to the company’s operations, as well as internal policies. This important duty entails activities such as the design and execution of compliance training activities and documentation, periodic audits of operations, examination of revisions to the Compliance Program and reports of such activities to the Board of Directors.

Investment Advisory Services
TSCS has secured a unique position in the Japanese real estate finance market through its close collaboration with the real estate advisory company Touchstone Capital Realty (TSCR), cultivating an extensive network of partners and a superlative reputation. The Investment Advisory team has been involved in some of Japan's highest profile real estate deals for a total of US$5 billion in transaction volume since our inception. We remain committed to capitalizing on this position to better identify and originate assets that meet the specific risk-adjusted return profile of each of our clients.

The Investment Advisory team brings together in-house expertise in real estate and financing technologies and structures to deliver superior underwriting services, one of the Group’s core competencies. Our rigorous analysis for each proposed transaction is based upon a thorough understanding of the underlying fundamentals of the market, coupled with firsthand knowledge of changing trends that affect assets, the market and the general economy. We focus on maintaining a disciplined approach to provide an objective and accurate description of transactions to our clients.

Investment Consulting Services
The Investment Consulting team makes it our mission to comprehensively understand client needs. Clients often require customized, innovative solutions to meet benchmarks and overcome issues they are facing. As many Japanese companies are beginning to reconsider the value of their real estate holdings and examine how to realize and maximize that value, they are increasingly turning to experts in the industry. The Investment Consulting team is keenly positioned to provide comprehensive, unique solutions to our clients by leveraging the accumulated and diverse knowledge of the Touchstone Capital Group.

The Investment Consulting team has satisfied demands in recent years for optimizing balance sheets, disposing of corporate real estate, addressing distressed loan issues, refinancing and risk management assessments. We are also becoming more active in small cap M&A opportunities, especially those with a real estate component.

Structured Finance Services
The need for structured finance has increased as investors’ thinking on risk has diverged and a multitude of financial products has become available in the market. Each project thus has its own distinct risks that must be analyzed, compartmentalized and controlled.
TSCS’s Structured Finance team delivers both understanding and action. The team understands client and market needs while acting fast, despite devoting time to developing clear technical proficiency in the legal, accounting and tax issues specific to individual projects. The team coordinates and manages multiple parties to conduct private placements arrangements, troubled investment structure workouts, debt/equity arrangements and debt trading. TSCS has arranged JPY1.4 trillion of private placement subscriptions during the period from 2006 through 2008.

Administration Department
The Accounting and Finance Group of the Administration Department performs day-to-day accounting activities and periodic financial reporting, recommends actions and tactics pertaining to fiscal year and medium-term management plans, monitors budgets and financial statements to ensure they reflect the financial targets of these plans and implements risk management activities pertaining to the Company’s finances.

The General Administration Group of the Administration Department is charged with day-to-day operations pertaining to administration and personnel, as well as support for the efforts of the Compliance Committee in implementing, enforcing and monitoring the activities of the Company’s Compliance Program. The General Administration Group also manages Board of Directors and Committee meetings and assists the Risk Management Committee in monitoring risks related to businesses processes and business continuity, as well as implementing risk management activities related to such.

The Information Systems Group of the Administration Department develops, procures and maintains the Company’s information system applications and infrastructure, and also assists the Risk Management Committee by ensuring the integrity of data, protecting the privacy of both internal and client data, monitoring risks related to information security and making recommendations on specific actions for the purpose of mitigating such risks.