18,000 m2 Toranomon office building sells for 860 million Yen
Nippon Building Fund (NBF) has sold a 61-year old office building in Toranomon back to its sponsor, Mitsui Fudosan, for just 860 million Yen (US$5.5 million). This may seem like a remarkably low price, considering the REIT paid 13.3 billion Yen for it in 2004, and there’s a good explanation.Read more
Once-bankrupt resort hotel finds Hong Kong buyer
A Hong Kong-based tech and investment firm has acquired the Awashima Hotel in Shizuoka. This resort hotel is located on a small, uninhabited island off the coast of Numazu, with guests ferried over from the mainland.Read more
Is Japan’s high-speed Shinkansen rail a solution to 2024 logistics problem?
The Shinkansen bullet train was developed as passenger transport, but in recent years there have been trials to use this high-speed rail for cargo deliveries as well. With a shrinking labor force, particularly in the freight industry, and recent overtime limits imposed on truck drivers, there is a pressing need for a modal shift towards rail cargo.Read more
Housing starts plummet near Kumamoto's semiconductor plants despite strong demand
Despite the excitement surrounding the new semiconductor plants in Kumamoto, new housing starts in Kikuyo and Ōzu towns have dropped drastically. In February of 2024, housing starts were over 30% higher than they were 12 months prior, but in March they had dropped 50% y-o-y.Read more
Raffles to open luxury hotel in Tokyo in 2028
On July 22, the World Trade Center Building, Kajima Corporation, Tokyo Monorail, and JR East announced that Raffles will be opening their first hotel in Japan in the World Trade Center Building redevelopment project.Read more
Sharp to repurpose LCD factories for AI and semiconductor-related use
It might have seemed like the end of the line for Sharp’s LCD factories, as strong offshore competition saw the electronics maker face a second year of losses in 2024. With LCD production winding down, the company is repurposing some of its plants across Japan by collaborating with other manufacturers, especially those in the AI and semiconductor space.Read more
Mitsubishi vacating Yokohama office tower
Mitsubishi Heavy Industries is relocating its head office operations from Yokohama to central Tokyo, joining related companies in aggregating its operations in one central location.Read more