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 Chief Executive Officer
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
Ishikawa Akiyoshi Chief Finance Officer
Mr. Ishikawa is a seasoned professional with extensive experience in finance and real estate across Japan and Asia, particularly distinguished in hotel and logistics real estate investment management. With a strong professional background and broad practical expertise, he has delivered a wide range of financial services spanning corporate finance to asset finance in investment banking, real estate, and private equity.
In the real estate fund sector, Mr. Ishikawa has been deeply engaged in full-cycle asset management, covering project sourcing and selection, investment negotiations, syndicated loan arrangements, and execution. He has developed a strong track record across residential, hotel, and office assets, with a particular focus on hotel and logistics properties, successfully driving the development and value enhancement of high-quality assets.
Career Experience
Mr. Ishikawa previously served as Head of Real Estate Securitization at Tokyo Star Bank, where he built extensive expertise in securitization operations and trust product development. He also worked with the Evergreen Family Office on Japan-focused investments, providing tailored strategies and asset allocation for high-net-worth clients. His dual perspective—balancing creditor and capital provider viewpoints—enables him to deliver effective and sustainable financial solutions.
Areas of Expertise
- Full-cycle investment management in hotel and logistics real estate
- Real estate asset securitization and trust product structuring
- Diversified asset management across residential, hotel, office, and logistics assets
- Comprehensive financial insight from both creditor and equity provider perspectives
Currently, Mr. Ishikawa serves as an advisor to multiple domestic and international real estate and private equity funds, providing high-level consulting services. His deep expertise in hotel and logistics assets, combined with his securitization and asset management experience, continues to drive high-quality growth and industry recognition.
Steven Kwok Chief Investment Officer
Steven Kwok is the Chief Investment Officer of Lumitas Capital Partners, bringing over 20 years of leadership experience in commercial real estate, retail operations, and asset management across China and Asia.
He has held senior positions including Managing Director of MorningHaze, General Manager of HIT Smart Healthcare Commercial Center, Group Director at Spes Asset Management, and Chief Representative for Strategic Development at Peking University.
Steven’s expertise spans shopping center planning, tenant mix strategy, leasing, operations, and financial management. He has served as Chief Leasing Advisor for multiple landmark projects in Beijing and was formerly President of U-Town Life Plaza, where he oversaw leasing, marketing, operations, and finance. His project portfolio includes Harbin Central Street, Chongqing HOTMALL, Beijing Dashilan, and Beijing E-Commerce Valley.
With a strong background in fashion retail, Steven has also served as Greater China General Manager for leading Japanese apparel groups such as Nice Claup, Point Inc., and Sanei International, and managed luxury, cosmetics, and multi-brand portfolios at SOGO Hong Kong and KPS Stores Limited.
At Lumitas, Steven leverages his cross-sector expertise to drive strategic investment, development planning, and global capital partnerships, positioning the firm at the forefront of high-value real estate opportunities in Japan and Asia.
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.
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.
Maurice Chenn Business Strategy Advisory
Mr. Maurice Chenn brings over 20 years of experience in business strategy, real estate development, and international partnerships. At Berjaya Land Berhad, he leads property and residential development initiatives in Japan and Europe, fostering collaborations with global hotel brands and identifying high-value investment opportunities.
Previously, he served as a business strategy consultant and lecturer at Shih Hsin University in Taiwan, advising Fortune 500 companies, financial institutions, and real estate developers across Asia on market entry, corporate strategy, and organizational growth. His early career in media and entertainment honed his skills in leadership, branding, and stakeholder engagement.
Maurice specializes in bridging global capital with real estate and hospitality projects, offering strategic insights that drive sustainable growth and long-term value creation.
Yusen Chiao Development Planning & Acquisition Strategy Advisory
Mr. Yushen Chiao is a senior real estate executive with more than 20 years of international experience in commercial property, urban development, and investment strategy. As a former Managing Director of Jones Lang LaSalle (JLL) in West China, where he oversees operations across Xi’an, Chengdu, and Chongqing—one of China’s most dynamic economic clusters. Mr. Chiao has guided landmark projects in mixed-use development, retail property, and large-scale investment management. He is recognized for his expertise in integrating global real estate practices with local market insights, helping governments, developers, and investors unlock long-term value.
Mr. Chiao brings to Lumitas Capital Partners deep strategic insight into urban growth, cross-border investment, and market positioning. His proven track record in shaping development strategies, advising Fortune 500 clients, and championing regional integration makes him a valuable advisor to Lumitas’s mission of connecting global capital with transformative real estate opportunities in Japan and Asia.