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.
TOKYO, July 1 (Reuters) – Japan’s priciest plot of land hit
a 22-year high even as nationwide prices notched a seven-year
slide, widening the divide between major cities and the outlying
regions, a government survey showed on Wednesday.
A block in Tokyo’s Ginza district containing the posh
Kyukyodo stationery shop rose 14 percent last year to 27 million
yen a square metre ($21,000 a square foot), the highest for any
plot in Japan since 1993, the survey by the National Tax Agency
TOKYO, June 5 (Reuters) – With Japan’s tourist numbers and
hotel prices on the rise thanks to a weaker yen, developers are
getting creative with a new niche line in stylish but cheap
accommodation in bunks, cabins and pods of all shapes and sizes.
Even a tiny double room in a hotel with limited service can
set you back 30,000 yen ($240) a night in central Tokyo these
days. But if you look a little more, you can bed down in comfort
for a mere fraction of that.
TOKYO, June 2 (Reuters) – Hong Kong-based investment firm
PAG is in the final stages of selling for at least 100 billion
yen ($800 million) properties it bought from Daimler AG’s
Japanese truck business, people with knowledge of the
The deal to sell the Mitsubishi Fuso Truck and Bus Corp
properties is expected to be finalised in the next few weeks,
the people said, without giving any details on the prospective
buyers. The sources declined to be identified due to the
confidentiality of the process.