TOKYO (Reuters) – When Tokyo asked for bidders to build what is expected to be the world’s largest fish market on the city’s vacant eastern edge there were no takers.
In a graphic illustration of how the hopes for “Abenomics” are falling short, the city was forced to raise by two-thirds its budget for the project to more than $1 billion before some of Japan’s top construction companies stepped forward.
TOKYO, Feb 26 (Reuters) – Goldman Sachs Group Inc is
considering putting money into a major Japanese airport, the
latest foreign investor to eye infrastructure projects as Prime
Minister Shinzo Abe seeks to open up the market.
The U.S. bank may invest in New Kansai International
Airport, a regional hub in Osaka bay and the country’s
fifth-largest airport by passenger traffic, once operating
rights are put up for sale, said Ankur Sahu, co-head of
Goldman’s Asia-Pacific merchant banking division.
TOKYO, Feb 14 (Reuters) – U.S. private equity firm Cerberus
Capital Management LP has sold a 1,900 square meter
block of land in Tokyo’s posh Aoyama shopping district to
Japanese general contractor Shimizu Corp for 13 billion
yen ($127 million) as the U.S. investment fund tries to recoup
gains from its Japanese assets.
The land was owned by Cerberus’ fully owned real estate
developer, Showa Jisho Co, and is located in the area that
houses such global luxury brands as LVMH, Bulgari and
Celine. It currently is used as a parking lot.
TOKYO, Feb 13 (Reuters) – Alternative energy investment firm
Equis Funds Group plans to raise $500 million over the next year
to fund solar energy projects in Japan where the use of
renewable energy is expected to at least double over the next 15
Equis has already collected funds from foreign investors
keen to tap a rare opportunity to invest in Japanese
infrastructure, a sector largely financed by domestic
corporations, company partner Adam Ballin said on Wednesday.
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
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.
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.
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.
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.
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.