Junko's Feed
Feb 5, 2014

Mitsubishi Estate seeks damages from Kajima over botched condo

TOKYO, Feb 5 (Reuters) – Mitsubishi Estate Co Ltd,
Japan’s largest property developer by market value, is seeking
damages from contractor Kajima Corp after discovering
construction flaws that may force it to tear down a nearly
completed condominium in central Tokyo.

Mitsubishi Estate said it would seek to cancel contracts for
the sale of the building’s 86 units due to flaws in its drainage
pipe structure. The condominiums each fetched up to 350 million
yen ($3.45 million) and were to be handed over to buyers on
March 20.

Jan 30, 2014

Mitsubishi Corp in final talks to buy Tokyo Ralph Lauren building for $342 million: sources

TOKYO (Reuters) – Japan’s Mitsubishi Corp (8058.T: Quote, Profile, Research, Stock Buzz) is in final talks to buy the building rented by luxury retailer Ralph Lauren Corp (RL.N: Quote, Profile, Research, Stock Buzz) for its flagship store in Tokyo’s posh Omotesando area for about 35 billion yen ($342 million), three people with knowledge of the deal said.

The purchase by Mitsubishi, Japan’s biggest trading firm by net income, will be the largest property transaction since a group of investors bought an office building in Tokyo for about 100 billion yen last August. The price represents a premium of about 13 percent on that paid the last time the building changed hands, four years ago.

Jan 2, 2014

Chinese balloonist lands in midst of isle dispute with Japan

TOKYO (Reuters) – A Chinese man landed himself, literally, in the midst of a territorial dispute between Asia’s two great powers, crash-landing a hot air balloon near contested islands held by Japan.

The Japanese coastguard said on Thursday it had rescued the balloonist, identified as 35-year-old-chef Xu Shuaijun, on Wednesday in the sea near the tiny isles, called the Senkaku by Japan and Diaoyu by China.

Dec 27, 2013

U.S.’s Fortress to raise $1.9 bln fund for Japan infrastructure -sources

TOKYO, Dec 27 (Reuters) – U.S. asset manager Fortress
Investment Group LLC aims to raise 200 billion yen ($1.9
billion) to set up Japan’s first infrastructure fund, three
people with knowledge of the matter told Reuters on Friday.

Fortress plans to invest in roads, airports and other
infrastructure with money pooled in the Fortress Japan Income
Fund, said the people who declined to be named as they are not
authorized to speak to the media.

Dec 19, 2013

Japan’s Ozawa vows to weave musical spell as long as health holds

TOKYO (Reuters) – Seiji Ozawa, one of the world’s most famous music conductors, said on Thursday he intended to keep going for years to come, despite frustration that recent ill-health has prevented him from being as active as he used to be.

Ozawa, 78, was diagnosed with esophageal cancer in January 2010, which was followed by lower back surgery in January 2011, and has since concentrated his activities in Japan.

Dec 16, 2013

Lone Star bid for Osaka railway firm blocked by local government

TOKYO (Reuters) – Lone Star Funds’ $755 million bid to buy an Osaka-based train and warehouse operator was blocked by a municipal government on Monday, derailing what would have been a big comeback acquisition for the U.S. private equity firm in Japan.

The vote came out against Lone Star by a narrow margin, 53 to 51. While no official reason was given, some local assembly members had voiced concerns before the vote that firms with a public remit like railways should not be sold to funds with a short-term investment horizon.

Dec 16, 2013

Lone Star bid for Osaka railway firm blocked by local govt

TOKYO, Dec 16 (Reuters) – Lone Star Funds’ $755 million bid
to buy an Osaka-based train and warehouse operator was blocked
by a municipal government on Monday, derailing what would have
been a big comeback acquisition for the U.S. private equity firm
in Japan.

The vote came out against Lone Star by a narrow margin, 53 to
51. While no official reason was given, some local assembly
members had voiced concerns before the vote that firms with a
public remit like railways should not be sold to funds with a
short-term investment horizon.

Dec 13, 2013

From Tokyo banker to J.League mascot: the birth of Koyanon

HIROSHIMA (Reuters) – Kaoru Koyano’s unlikely career arc has taken him from dark-suited investment banker to plum-purple professional sports mascot. In between, he was called in to fix the balance sheet of the hottest team in Japanese soccer, Sanfrecce Hiroshima.

When Sanfrecce sealed their second straight J.League title earlier this month with a 2-0 win over Kashima Antlers, Koyano took the field to hold up the banner for fans alongside fist-pumping players, the culmination of an unlikely year of reinvention.

Dec 13, 2013

Soccer-From Tokyo banker to J.League mascot: the birth of Koyanon

HIROSHIMA, Dec 13 (Reuters) – Kaoru Koyano’s unlikely career arc has taken him from dark-suited investment banker to plum-purple professional sports mascot. In between, he was called in to fix the balance sheet of the hottest team in Japanese soccer, Sanfrecce Hiroshima.

When Sanfrecce sealed their second straight J.League title earlier this month with a 2-0 win over Kashima Antlers, Koyano took the field to hold up the banner for fans alongside fist-pumping players, the culmination of an unlikely year of reinvention.

Nov 27, 2013

Hot springs are passe: Japan’s tourist towns covet casinos

OTARU/SASEBO, Japan (Reuters) – Ageing and shrinking, Japan’s country towns want to gamble away their economic and demographic woes.

With lawmakers planning to submit legislation soon to open Japan to casino gambling, likely in time for the 2020 Olympics, several small cities, hot spring towns and tourist destinations are pushing to get one of the coveted licenses.