Masato Koumura, Senior Executive Vice President and Member of the Board of JHF delivered a speech at the International Union for Housing Finance (IUHF) World Congress to celebrate 100th Anniversary in Munich, Germany on September 12th 2014. The title of the speech was “Challenges in the changing social environments for the next century – harmonization of tradition and innovation”. IUHF, which was established in London in 1914, is the international networking organization for housing finance. IUHF currently comprises 106 members covering 46 different countries.