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.
TOKYO, May 26 (Reuters) – U.S. buyout funds Bain Capital and
Cerberus Capital Management sold big stakes in two Japanese
companies as the stock market surges – taking profits and
avoiding an expected bout of volatility if the U.S. Federal
Reserve raises rate later in the year, investors said.
The buyout specialists’ sales came as the market
capitalization of shares listed on the Tokyo Stock Exchange’s
main board hit a record high last week, surpassing the previous
peak hit in December 1989, as Prime Minister Shinzo Abe deployed
pro-growth economic policies to boost investor sentiment.
TOKYO, May 22 (Reuters) – Orix Corp and partner
Vinci SA are the only firms to have placed a confirmed bid for
$18 billion rights to run Japan’s Kansai International Airport
after people involved in the process said four additional
companies including Mitsubishi Corp had dropped out.
A tepid showing for the marquee project on the last day of
bidding may bode ill for Prime Minister Shinzo Abe’s effort to
involve private companies in major infrastructure projects.
TOKYO, May 20 (Reuters) – Days before the sale of Kansai
International Airport closes, just one Japanese company has
pledged to bid, casting doubt on a marquee project in Prime
Minister Shinzo Abe’s effort to involve private companies in
major infrastructure projects.
The 10-month initial bidding for the rights to run Japan’s
fifth-busiest airport is meant to start a wave of public-private
partnerships to attract investment to Japan, chip away at the
government’s massive debt and introduce more market rigour to
TOKYO, May 13 (Reuters) – Blackstone Group, Hong
Kong-based investor PAG and Japanese property firm Hulic Co
are among potential bidders for property asset manager
Simplex Investment Advisors in a deal that could fetch around
150 billion yen ($1.25 billion), people with knowledge of the
U.S.-based property investment fund Aetos Capital Real
Estate has put Simplex up for sale, the people told Reuters,
with a first bidding round to close by the end of this month.
TOKYO, April 27 (Reuters) – U.S. firm Applied Materials Inc
on Monday scrapped its $10 billion planned takeover of
chip-making gear rival Tokyo Electron Ltd after the
deal, a rare foreign bid for a Japanese firm, ran afoul of U.S.
The all-share purchase would have combined two of the
world’s largest makers of the equipment that makes semiconductor
chips into a firm with a market value over $38.5 billion.