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Oct 6, 2010

Japan property shares jump on BOJ asset-buying plan

TOKYO, Oct 6 (Reuters) – Mitsubishi Estate 8802. and other
Japanese property stocks jumped on Wednesday as investors bet the
central bank’s surprise plan to buy assets including real estate
investment trusts would help spur on the industry’s recovery.

Further consolidation in the country’s 3 trillion yen ($36
billion) REIT market is also expected if the Bank of Japan pours
money into selective REITs with financial stability.

Sep 24, 2010

Airlines fret over cost of seat safety row

TOKYO/PARIS, Sept 24 (Reuters) – Airlines appeared on a
potential collision course with regulators on Friday over the
cost of carrying out proposed checks on over 100,000 passenger
seats in the wake of a row over questionable safety data.

The proposed safety order comes seven months after Japanese
seat manufacturer Koito Industries (6747.T: Quote, Profile, Research, Stock Buzz) admitted changing
designs without following procedures and faking safety test
results, prompting a 33 percent slump in its shares in February.

Sep 22, 2010

M’bishi Aircraft aims for profit in 10 yrs

NAGOYA, Japan, Sept 22 (Reuters) – Mitsubishi Aircraft, a
subsidiary of Mitsubishi Heavy Industries (7011.T: Quote, Profile, Research), expects to
turn its regional jet business profitable in about 10 years when
it will have cumulatively sold 500 planes, its president said.

Hideo Egawa also told Reuters in an interview that the
company was in talks with five to six airlines and leasing
companies on sales of the Mitsubishi Regional Jet (MRJ), which it
plans to start producing by early next month for delivery in
2014.

Sep 10, 2010

Sekisui teams with Lend Lease in Australia push

TOKYO/SYDNEY, Sept 10 (Reuters) – Japan’s Sekisui House
(1928.T: Quote, Profile, Research, Stock Buzz) will team up with Australian property group Lend Lease
(LLC.AX: Quote, Profile, Research, Stock Buzz) to develop and market residential properties in
Australia, aiming to bolster its expansion outside its saturated
home market.

Under the deal, Sekisui will invest about 9 billion yen ($107
million) to acquire a 50 percent interest in Lend Lease’s
144-apartment Serrata development in Melbourne as well as buy
land from Lend Lease at the coastal resort of Hyatt Coolum, where
the Japanese firm wants to build 450 homes, the companies said on
Friday.

Sep 10, 2010

Foreign buyers hungry for Japan real estate

HONG KONG/TOKYO (Reuters) – Investors from the United States to tiny land-hungry Singapore are on the hunt for

real estate in Japan, with over $2 billion in deals already cemented since late last year and more in the offing.

Aug 31, 2010

JAL to slash routes, aircraft in turnaround bid

TOKYO, Aug 31 (Reuters) – Japan Airlines Corp, a carrier
worth no more than a two-decade-old jumbo when it was bailed out
by the government in January, said it will retire two-fifths of
its aircraft, abandon one in eight overseas flights and end a
quarter of its home routes in a bid to return to profit.

To compete against cheaper regional rivals, JAL also said it
would look at creating a low-cost carrier. The state-backed
turnaround body leading the restructuring said relisting the
airline would be possible by 2013.

Aug 16, 2010

Singapore Mapletree plans $928 mln Japan property fund

TOKYO, Aug 16 (Reuters) – Mapletree Investments, a real
estate firm wholly owned by Singapore state investor Temasek
Holdings [TEM.UL], plans to launch a Japan property fund of
around 80 billion yen ($928 million) this year in a bid to expand
in the country’s property sector ahead of its rivals.

The new fund, with 30 billion yen of equity, will invest in
business-related properties such as data centres, research and
development facilities, and office buildings just outside central
Tokyo and other big cities, Terence Heng, general manager of
Mapletree Investments Japan, told Reuters in an interview.

Aug 3, 2010

BP sends Japan’s Mitsui $480 million bill for leak

TOKYO (Reuters) – Japanese trading house Mitsui & Co said BP Plc has sent it a $480 million (300 million pound) bill seeking help in the clean-up of the disastrous Gulf of Mexico oil spill, but it has not decided if it will shoulder any costs.

Mitsui, which holds a 10-percent stake in the ruptured oil well through its unit Mitsui Oil Exploration, said it was “carefully” studying the bill and expected the embattled oil giant to seek more funds to help deal with the spill.

Aug 3, 2010

Japan’s Mitsui: received bill from BP for $480 million

TOKYO (Reuters) – Japanese trading house Mitsui & Co, whose unit holds a stake in BP Plc’s ruptured oil well in the Gulf of Mexico, said on Tuesday it has so far received a $480 million bill from BP but has yet to decide if it will shoulder any clean-up costs.

Mitsui added it is “carefully” studying the bill and will continue to talk to BP.

Jul 30, 2010

Mitsubishi Estate Q1 profit drops 10 pct, shares fall

TOKYO, July 30 (Reuters) – Japanese property developer
Mitsubishi Estate (8802.T: Quote, Profile, Research) posted a nearly 10 percent drop in
first-quarter profit hit by a fall in apartment sales and rising
office vacancies, sending its shares down more than 4 percent.

Mitsubishi Estate, Japan’s No.2 developer by revenue, joined
top-ranked Mitsui Fudosan Co (8801.T: Quote, Profile, Research) in reporting weaker
quarterly profits, though they both kept their outlooks
unchanged, suggesting the sector still has a ways to recover from
the tumult of the financial crisis.

    • About Mariko

      "From Tokyo, Mariko covers daily news and deals involving Japanese real estate companies and airlines."
      Joined Reuters:
      2004
      Languages:
      Japanese and English
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