Business and Economy
Japan restricts land deals near strategic assets
Japanese lawmakers early Wednesday, June 16 passed legislation restricting purchases of land near defense force bases or other areas with national security implications. ≫
Genting Singapore-led group in running for Yokohama casino deal
A consortium led by casino operator Genting Singapore has submitted its proposal to build a gambling resort in Yokohama. ≫
Japan pushes solar panel mandate for new public buildings
Japan should require solar panels installations on all new public buildings as the country ramps up efforts to promote renewable energy toward its goal of achieving net-zero emissions by 2050. ≫
Goldman to double Japan property investments to over $2bn a year
Goldman Sachs will increase its property investments in Japan to about 250 billion yen [$2.28 billion] a year from the current range of 100 billion to 150 billion yen, with a focus on logistics hubs, data centers and other facilities that enjoy growing demand. ≫
Galaxy Entertainment pulls out of Yokohama casino resort project
Galaxy Entertainment Group will not participate in developing a proposed casino resort in Yokohama, the Macao-based operator said Monday, citing the impact of the coronavirus on the business environment. ≫
Mitsubishi Estate makes $2bn push into US data centers
Mitsubishi Estate aims to build seven U.S. data centers near Washington by around the end of the decade at an estimated cost of 200 billion yen [$1.83 billion]. ≫
Oyo's Japan unit sells long-suffering residential business
Indian hotel startup Oyo Hotels & Homes is to sell its short-term residential business in Japan. ≫
Japan's K-shaped recovery emerges in home prices amid COVID crisis
Signs of a K-shaped recovery, characterized by parts of the economy improving while others languish, are appearing in home prices. ≫
Hoshino Resorts leaves mountains for the city in post-COVID era
Japanese inn and ski slope operator Hoshino Resorts will open multiple hotels in city centers to capture a rebound in lodging demand when the coronavirus pandemic is brought under control. ≫
Why tiny buildings are big in Japan
Mother always said, "You can never be too rich or too thin -- or have too much kitchen-counter or closet space." She also advised, "Be ambitious. Think big!" Mother was wrong. Just ask the property owners, architects and inventive construction managers in Tokyo and other Japanese cities who, over the years, have concocted some of the most unusual -- and intriguing -- structures to be found anywhere in the world. ≫
Shuttered Japanese inn reopens as modern art masterpiece
A small prefectural capital will likely be absent from most itineraries once Japan reopens its borders to tourists, except for a few who won't mind a short jaunt from Tokyo to experience the curious Shiroiya Hotel, a striking example of the country's brutally ugly 1970s architecture turned into art. ≫
Mitsubishi to sell Nagoya high-rise to Canada's BGO
Japanese developer Mitsubishi Estate will sell a landmark 21-story building in Nagoya to Canadian real estate fund BentallGreenOak, Nikkei has learned. ≫
Kintetsu to sell 8 hotels to Blackstone for $550m
Japanese railway company Kintetsu Group Holdings plans to sell eight hotels in Osaka and Kyoto to U.S. investment fund Blackstone Group for around 60 billion yen [$550 million], Nikkei has learned. ≫
Tokyo's Imperial Hotel repurposes luxury rooms as rentals
The Imperial Hotel Tokyo will convert 99 guest rooms into full-service rental apartments, offering meal and laundry options with dedicated staff as vacancy rates remain high from the pandemic. ≫
Ad agency Dentsu weighs sale of Tokyo HQ in $3bn megadeal
Advertising agency Dentsu Group will consider selling its headquarters in central Tokyo in a deal possibly worth around 300 billion yen [$2.9 billion], which would mark one of the largest property sales ever in Japan. ≫
