Old department store in Yamagata up for foreclosure

The Onuma Department Store in Yamagata City is up for foreclosure later this month, with a minimum bid set at 186,768,000 Yen (approx. US$1.8 million). Yamagata District Court will accept sealed-bids from November 24 to December 1, with bids to be opened on December 3.  The department store closed its doors in January 2020 after filing for bankruptcy, making Yamagata City the only prefectural capital in Japan to be without a department store.

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Failed share houses start to hit foreclosure market

One of the early foreclosures of failed share houses developed as part of a wide-scale scam goes up for public auction next week. The minimum bid for the building and land is set at 23,672,000 Yen (approx. 205,000 USD), with results to be announced on October 25 (Update: It sold for 25,180,000 Yen to a private bidder). Back in January, several share houses by a former Ginza-based share house developer were listed for public foreclosure auction, selling for around a third to less than a half of what the original investors would have paid for them.

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