I think they got out of Japan given that Tournet wasn't showing...

I think they got out of Japan given that Tournet wasn't showing signs of profitability.

AYI's industrial development should produce solid cash flow in the form of development profits. The timing is no doubt excellent given the voracious worldwide demand for property driven by record low interest rates - the proverbial high tide that lifts all boats.

It's also a very good sign that their loan to COTY Guam has been repaid. Cash and shareholder equity would appear to be intact as per the latest news. Preservation of capital for a small company, at this stage, is the correct strategy.