TOKYO (Reuters) – Sony Corp has sold one of its most prized Tokyo office buildings to Japanese real estate trust Nippon Building Fund Inc and one other investor for 111 billion yen ($1.2 billion), its second high-profile building sale this year.
The 25-storey Sony City Osaki building, completed in March 2011, houses 5,000 of its workers on a site once known as the “holy land” for Japan’s television manufacturing industry, where Sony’s Trinitron TV was launched in 1968.
TOKYO, Jan 10 (Reuters) – Sony Corp has put one of
its main buildings in central Tokyo up for sale in a deal that
could raise up to 100 billion yen ($1.14 billion) as the company
seeks to sell non-core assets to boost its balance sheet, five
people with direct knowledge of the deal said.
Sony is trying to sell the 25-storey Sony City Osaki
building, in what would likely be the biggest office property
deal in more than three years in Japan’s property market, which
has been in the doldrums in the wake of the global financial
IWAKI/KAMAISHI, Japan (Reuters) – Three weeks before Japan’s first national election since the March 2011 earthquake, none of the contenders has managed to win the hearts, and votes, of those hardest-hit by the disaster – with many feeling let down by the entire political class.
Volunteers and donations had poured in after the magnitude 9.0 quake off the northeast coast of Japan’s main island Honshu unleashed a deadly tsunami that killed nearly 19,000 and triggered reactor meltdowns at the Fukushima nuclear plant.
TOKYO (Reuters) – Japan unveiled plans on Friday to list shares of state-owned Japan Post Holdings Co, which runs the country’s biggest savings institution, within three years to raise money to rebuild areas devastated by last year’s quake, tsunami and nuclear crisis.
Postal minister Mikio Shimoji told a news conference that the government’s shares in the company would be sold down in stages, but said he was not yet sure about the scale of the sell-down nor how much money Tokyo could raise.
TOKYO, Oct 26 (Reuters) – Japan unveiled plans on Friday to
list shares of state-owned Japan Post Holdings Co, which runs
the country’s biggest savings institution, within three years to
raise money to rebuild areas devastated by last year’s quake,
tsunami and nuclear crisis.
Postal minister Mikio Shimoji told a news conference that
the government’s shares in the company would be sold down in
stages, but said he was not yet sure about the scale of the
sell-down nor how much money Tokyo could raise.
TOKYO, Oct 23 (Reuters) – Sony Corp plans to shut
operations in a Tokyo office building that houses 8 percent of
its Japan staff, one of the first concrete moves by the
electronics and entertainment company to pave the way for 4,000
The move, part of a still-unfolding restructuring under
Chief Executive Kazuo Hirai, had not been previously disclosed.
TOKYO, Oct 4 (Reuters) – The head of Japan’s Government
Pension Investment Fund (GPIF), the world’s biggest public
pension fund, said it may venture into alternative assets, such
as infrastructure and private equity funds, as an ageing
population puts more stress on the pension system.
Looking around for new and better investment returns is
vital for the fund as for the past three years it has been
paying out more in benefits than it receives in contributions to
the national pension system.
TOKYO (Reuters) – Tokyo Governor Shintaro Ishihara, a fiery nationalist whose failed bid to buy a group of disputed islands ignited a crisis with China, is pushing ahead with a plan to build structures there to hammer home Japan’s claim, officials involved told Reuters.
Although such a move is not imminent, it would be certain to strain Japan’s already shaky relations with China and could prompt a rebuke from the Obama administration, which has urged both sides to ease tensions by setting aside the dispute.
TOKYO (Reuters) – Japan’s top trading house Mitsubishi Corp (8058.T: Quote, Profile, Research, Stock Buzz) is expanding its small real estate financing business to benefit from rising property purchases by foreign investors in the country and an expected jump in refinancing of loans, a senior executive said.
Diamond Realty Management Inc, a real estate asset management firm wholly owned by Mitsubishi, aims to raise 10 billion yen ($128 million) from Japanese investors in a second fund as early as March to provide mezzanine financing for deals, Diamond Realty’s CEO-designate Takashi Tsuji said in an interview.
TOKYO, Sept 14 (Reuters) – A Japanese court has delayed its
ruling on two competing plans to restructure failed chipmaker
Elpida Memory Inc, a source with direct knowledge of
the matter said.
Elpida filed for bankruptcy in February in the largest
corporate failure among Japanese manufacturers. Saddled with 482
billion yen ($6.22 billion) in liabilities, Elpida has agreed to
be bought by U.S. rival Micron Technology Inc.