TOKYO, Oct 8 (Reuters) – Norway’s Norges Bank Investment
Management, which runs the world’s largest sovereign wealth
fund, will target prime Tokyo office buildings as it starts to
invest in Japan, the fund’s chief investment officer for real
estate said on Thursday.
The fund, built on Norway’s oil and gas revenues with $880
billion in assets, will seek local partners to co-invest in
Tokyo, said Karsten Kallevig, speaking in an interview as the
fund launched operations in Tokyo. The fund’s operational rules
were only recently changed to permit property investments
TOKYO, Oct 6 (Reuters) – Tokyo Electric Power Co
will start meeting potential investors this month for a bond
issue that targets raising 330 billion yen ($2.75 billion),
people involved in the deal said, in what will be the utility’s
first bond sale since the 2011 Fukushima nuclear disaster.
The proceeds will be used to repay debt which soared as
Tepco, the operator of the wrecked Fukushima plant, battled to
clean it up, the people said. The bond sale, which will be done
in tranches in the business year starting in April 2016, has
already been flagged by Tepco.
TOKYO, Sept 11 (Reuters) – Japan has selected a group led by
general contractor Maeda Corp and railway operator
Tokyu Corp to operate the Sendai Airport in northern
Japan, the government said.
The group will now negotiate final details of the deal with
the government to run the airport, which was hard hit by the
earthquake and tsunami in 2011. The final agreement will be made
by the end of this year, said an official at the Ministry of
Land, Infrastructure, Transport and Tourism at a media briefing.
TOKYO/BEIJING (Reuters) – China’s Anbang Insurance Group Co is bidding to buy Japanese property asset manager Simplex Investment Advisors, four people with knowledge of the bid said, in a deal that could top $1 billion.
If successful, Simplex would be Anbang’s first real estate foray into Japan where the market has been booming on the back of the economic stimulus policies of Prime Minister Shinzo Abe.
TOKYO/BEIJING, Aug 7 (Reuters) – China’s Anbang Insurance
Group Co is bidding to buy Japanese property asset manager
Simplex Investment Advisors, four people with knowledge of the
bid said, in a deal that could top $1 billion.
If successful, Simplex would be Anbang’s first real estate
foray into Japan where the market has been booming on the back
of the economic stimulus policies of Prime Minister Shinzo Abe.
TOKYO, Aug 3 (Reuters) – U.S. investment funds Blackstone
Group, Fortress Investment Group and Elliot
Management are among those shortlisted for the second round of
bidding to buy Japan’s Simplex Investment Advisors in a deal
that could top $1 billion, three people with knowledge of the
Japanese property firms Hulic Co and Kenedix Inc
were also shortlisted, the sources told Reuters, asking
not to be identified because the process is not public.
TOKYO, July 30 (Reuters) – Record tourists to Japan are
stretching the ability of hotels to accommodate them in a sector
constrained by high costs, forcing developers to think out of
the box for means to quickly increase lodging options without
breaking the bank.
Japan is on target this year to beat the record 13.4 million
visitors in 2014, helped by a weak yen and easier visa
requirements for some Asian countries. The government is aiming
to attract 20 million visitors by 2020, when Tokyo hosts the
Olympics, to revitalise the world’s third-biggest economy.
TOKYO, July 29 (Reuters) – Japanese brokerage Nomura
Holdings’s first-quarter net profit more than tripled
as strong demand from customers to trade domestic stocks boosted
But, like for many of its global peers, weak fixed income
trading operations hurt Nomura’s wholesale business. The tough
market conditions that led to the fixed income weakness could
impact Nomura’s stated plans to turn its overseas business
profitable this year.
TOKYO (Reuters) – GRAPHIC: Tokyo office rents: link.reuters.com/hag35w
Tokyo office rents have climbed to their highest since April 2011 as the economy gathers steam and demand for office space increases. But property analysts say the growth in rents is small and will be capped by imminent launches of new office towers.
Average rent for prime office space in Tokyo rose 4.8 percent to 17,401 yen ($139) per tsubo, or 3.3 square meters, in June from 16,607 yen a year earlier, according to broker Miki Shoji. But rents are not rising as fast as expected by real estate research firms – a sign that the government’s stimulus policies have yet to filter through the entire economy.
TOKYO (Reuters) – David Kinch, the chef-owner of Manresa in Los Gatos in California, prepared dinner in a kitchen at Narisawa in Tokyo. Meanwhile, Narisawa owner Yoshihiro Narisawa was cooking at Attica in Melbourne.
Kinch and Narisawa were among a collective of 37 top chefs who participated in the Grand Gelinaz! Shuffle, traveling to different countries to cook in someone else’s kitchen, preparing an eight-course menu using local ingredients for one evening.