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| Marketable Securities Investment Business |
| In parallel with real estate, the marketable securities investment business is another key earner for Shoei. Our securities portfolio comprises half of Shoei’s total assets, and this business is responsible for maintaining and effectively leveraging those assets. Shoei added this field to its business domain in fiscal 2004 following amendments to its Articles of Incorporation in fiscal 2003. Specifically, this business uses hedge transactions to secure unrealized gains, and strives through options transactions to raise earnings. |
| ■ Fundamental Strategies |
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