West Japan also worried about foreign capital buying up forestry
In February, two men wearing sweaters visited the Uda Forestry Cooperation Uda City, Nara Prefecture. The men said they were managers of an Osaka-based business and spoke with the Co-op chairman for about 30 minutes. The chairman did not take long to determine that they were only after land with a water source and told them in no uncertain terms that he had no sellers for them. The two men promptly left.
Uda City has 18,330 hectares of forest. It is the source of the drainage system for Osaka's Yodogawa River and the majority of the forest has restrictions over timber felling. The chairman said that although there are members of the co-op who want to let go of their land, he worries that troubles may arise if forestry falls into the hands of foreign capital.Read more
Dai-ichi Life Insurance sells head office in Oi Town
The Dai-ichi Life Insurance Company sold their head office building in Oi Town, Kanagawa, to coffee and tea mail-order company Brooks Holdings for 2 billion Yen (25 million USD) this month.Read more
Foreign buyers pipped at the post on land purchases in Hokkaido
Hokkaido Prefecture will be introducing support measures that will provide funding to local cities, towns and villages so that they may purchase tracts of land that foreign investors are planning to buy.
The measures are being introduced in response to growing concern over acquisition of forestry and water sources by foreign investors with unclear motives.Read more
Murky details about foreclosed illegal casino in Nishiazabu
On March 6th the Tokyo Police Department issued arrest warrants for Daisuke Shioda, the former president of ABC Home, and four associates for interfering with the public auction of a foreclosed property owned by ABC Home. However, Shioda has so far evaded capture and his whereabouts are unknown.
Shioda is accused of falsifying the ownership details on the real estate register of the property in order to prevent the property from selling at auction. He also lied and said that his mother and sister had 18 ~ 20 year leases on some of the floors in the building.Read more
Kepco demolishing old head office in Osaka
The Kansai Electric Power Company (KEPCO) announced that they will be demolishing and rebuilding their former head office in Osaka from April 2012. Completion of the new building is scheduled for April, 2014.Read more
Shiba Park Hotel to demolish north building
Shiba Park Hotel will be demolishing the main north building. Demolition work is being carried out by Ando Corporation and is expected to be completed by the end of June 2012.
The north building is 8 stories and has a total floorspace of 2891 sqm. The hotel was opened in 1949 and has 391 rooms.
Source: The Kentsu Shimbun, February 20, 2012.