Lumitas Capital Partners is a professional investment and asset management platform dedicated to connecting international capital with high-quality assets in Japan.
We focus on the Japanese market and adopt a light-asset entry model to identify and transform high-potential real estate and commercial assets, creating value through transactions, asset enhancement, and operations.
Lumitas brings together a team with backgrounds from Japan, Taiwan, China, and international capital markets to provide integrated investment solutions and asset management services for global high-net-worth individuals, family offices, and institutional investors.
OUR POSITIONING
- A professional bridge between foreign capital and Japanese assets
- Targeting high-net-worth individuals, family offices, and institutional investors
- Focused on assets with positive cash flow and value-add potential
- Deeply rooted in Kyushu (Kumamoto + Fukuoka), leveraging international investor networks and resources
- Strategic focus includes: transactions, value enhancement, asset operations, fund management, asset revitalization, and the establishment of investment and tenant platforms
The Team
Daphne Hsiao - Managing Director
Ms. Hsiao is a seasoned professional with over 20 years of experience in commercial retail and real estate development, management, and operations across China, Hong Kong, Taiwan, and the United States. She has accumulated extensive expertise in leading large-scale mixed-use developments and managing commercial properties. Ms. Hsiao also has a strong background in private equity and family fund investment and management in both the U.S. and China, covering deal sourcing, project acquisition, investment, and full lifecycle asset management.
Ms. Hsiao is particularly skilled in investor relations development and maintenance, with exceptional business networking capabilities. She demonstrates sharp insight and strategic negotiation skills in the identification and acquisition of investment opportunities.
She has held several senior roles in commercial real estate development and management, building a solid foundation in the industry. She served as Deputy General Manager at Gemdale Properties and Investment Corporation Limited (HK: 00535), where she was responsible for the planning, leasing, and operations of commercial properties across China. She led numerous integrated projects including shopping malls, hotels, office buildings, and industrial parks, contributing to the creation of landmark developments in major Chinese cities. Later, she participated in market research and new business development for Gemdale’s U.S. operations, leading a team in evaluating investment opportunities ranging from USD 100 million to USD 1 billion, laying a strong foundation for the company’s global expansion.
Areas of Expertise
‧ Integrated Development and Operations: Expertise in planning and executing full-cycle project management
‧ Global Investment Perspective: Proficient in market research and investment screening to support international expansion
‧ Cross-Regional Business Development: Drives brand and property expansion across multicultural markets
Jack Yang - Chief Strategy Officer
With over 30 years of international experience in real estate development and investment, Mr. Yang has participated in projects across Taiwan, Hong Kong, Mainland China, the Philippines, and Japan. He possesses deep insight into industry cycles and trends and excels at efficiently planning and executing the full process from project initiation, development, and management to final sales. He is recognized for his outstanding ability in resource integration.
Areas of Expertise:
• Precise evaluation and selection of core assets
• Asset development and value enhancement
• Efficient revitalization of underutilized properties
Current Positions:
Long Run Estate & Investment Co. Ltd – Managing Director
Long Run (Taiwan) / Long Run (Hong Kong) / Long Run (Shanghai) / LREIC (Philippines)
With over 50 years of family real estate development and investment experience, the group specializes in project planning, integration, and operations, as well as investment strategy and framework design. Project involvement spans the Greater China region (Taiwan, Hong Kong, Shanghai, Zhengzhou), Japan, the Philippines, Thailand, the U.S., and Canada.
H Hospitality Group (Philippines) – Board Director
Oversees 8 beachfront resorts and hotels in operation (managing over 400 rooms with an average occupancy rate above 77%), along with restaurants and themed travel agencies.
BW Real Estate Group – Board Director
A Manila-based asset management firm currently managing three high-density residential projects in the National Capital Region of the Philippines, totaling over 700 residential units. The group also fully owns an immigration consultancy, a study abroad advisory firm, and a real estate brokerage.
Akiyoshi Ishikawa - Director - Asset Management
Mr. Ishikawa is a seasoned professional with extensive experience in finance and real estate across Japan and the broader Asia region, particularly distinguished in the investment and management of hotel and logistics real estate assets. With a strong professional background and a wealth of hands-on experience, he provides a wide range of financial services—from corporate finance to asset finance—within investment banking, real estate, and private equity sectors.
In the real estate fund domain, Mr. Ishikawa has been deeply involved in the full asset management lifecycle, including deal sourcing, investment negotiations, syndicated loan structuring, and asset execution. He possesses a deep understanding of various asset classes such as residential, hospitality, and office buildings, with a particular focus and proven success in hotel and logistics asset investment and value enhancement.
Mr. Ishikawa previously served as Head of Real Estate Securitization at Tokyo Star Bank, where he gained extensive experience in real estate asset securitization, especially in the development and full-cycle management of trust-based financial products. Additionally, he contributed to the Japanese investment operations of the Chang Rong Family Office, specializing in providing investment strategies and asset allocation services for high-net-worth individuals. His comprehensive insight into both corporate and asset finance enables him to consider both creditor and capital provider perspectives, delivering pragmatic and strategic financial solutions for clients.
Areas of Expertise
• End-to-End Investment Management: Specializes in hotel and logistics real estate, from deal sourcing and investment negotiation to syndicated loan structuring, ensuring stable project development and successful delivery.
• Real Estate Securitization: Extensive experience in the development and full-cycle management of trust-based securitization products, with a focus on optimizing asset value and enhancing liquidity.
• Diversified Asset Management: Proficient in managing residential, hotel, office, and logistics properties, offering comprehensive services across acquisition, execution, and operations.
• Comprehensive Financial Perspective: Develops investment strategies with a dual lens of creditor and capital provider, delivering efficient and sustainable financial solutions to clients.
Minoru Naruse Construction Management Advisory
Mr. Naruse has over 40 years of experience in construction management and has held several key positions at TODA Corporation, overseeing a wide range of projects including office buildings, residential properties, and logistics facilities. His exceptional management expertise is demonstrated by his successful leadership of construction projects for numerous Fortune 500 companies, with a total managed gross floor area (GFA) exceeding 3.3 million square meters (approximately 35.5 million square feet). This highlights his extensive experience and outstanding capabilities in managing large-scale development projects.
Mr. Naruse holds a First-Class Construction Management Technician license and has been involved in numerous real estate development projects both in Japan and internationally, including Taiwan. He has accumulated a broad range of experience in project operations and management. At every stage of the construction process—particularly from planning and design to execution—he has demonstrated unmatched professional expertise. His leadership is reflected not only in his technical excellence but also in his strong teamwork and project execution capabilities.
Areas of Expertise
• End-to-End Management of Large-Scale Real Estate Projects: Ensuring smooth execution from planning and design through to construction.
• Efficient Cost Control and Resource Optimization: Delivering projects on time and within budget.
• Extensive International Project Management Experience: Skilled in cross-cultural communication and capable of driving global construction and development initiatives.
Currently, Mr. Naruse also serves as a consultant to several construction companies and real estate funds, helping clients optimize construction processes and achieve sustainable development. With decades of experience and an international perspective, he is highly respected in the industry.