Singapore investor makes headlines after buying forestry in Gunma
An investor from Singapore has been the subject of an article in the Yomiuri newspaper after purchasing 44 hectares of forestry in Gunma Prefecture. The land, which is near the source of the Agatsuma River in Tsumagoi Village, was purchased by the investor in September 2011.
An employee from the Tokyo-based real estate agency that brokered the sale said the purchase formed part of the buyer's overall investment plan, but there was no indication that the buyer was after a water source.Read more
Compensation awarded to occupants of building with insufficient earthquake resistance
The Yokohama District Court has ordered that an architect office and building inspection company pay compensation of 1.4082 billion Yen (17.6 million USD) to owners of the 37 apartments in St. Regis Tsurumi after it was established that the building has insufficient earthquake resistance.
The building was inspected by Nippon ERI, who noticed that the building's strength did not meet standards and requested that the architect office correct the mistake. The mistake was corrected on paperwork in handwriting and ERI failed to notice the forged revision.Read more