Historic Niigata ryokan declares bankruptcy
The Kihachiya Ryokan in Sado City, Niigata, has entered into bankruptcy proceedings and may be forced to sell their hotel. According to Teikoku Databank, Kihachiya Ryokan has debts of 560 million Yen.Read more
Former Olympus president transferred private real estate holdings to family
Former Olympus president Tsuyoshi Kikukawa transferred two of his privately held apartments to his family members in November 2011.
The transfer took place immediately following the announcement of the concealed corporate losses. It is thought that he transferred his property ownership in anticipation of civil prosecution.
According to the real estate title documents, Kikukawa owned two apartments in a 32-storey residential building in Takatsu-ku, Kawasaki City. He jointly owned a 110sqm apartment on the 30th floor with his son who currently resides in the UK, and fully owned a 105sqm apartment on the 28th floor. His ownership of both apartments were transferred to relatives on November 17th.Read more
Mitsui starts construction of 53-storey residential tower in Tsukishima
Mitsui Fudosan announced that they have started construction of the Tsukishima 1 Chome 3, 4, 5 Redevelopment Project on February 20, 2012. The large complex will include a 53-storey, 703 unit residential tower and a smaller 12-storey, 44 unit residence. The name of the condominium is "Capital Gate Place".
Shimizu Corporation is in charge of construction and completion is scheduled for summer of 2015. The high-rise tower will be constructed using vibration-control (seishin) earthquake-resistant construction with dampers. There will also be backup generators that can supply necessary power for up to three days in the event of a power shortage.Read more
[Foreclosed] Japanese Castle in Hokkaido
*NO LONGER AVAILABLE*
Bidding started from 16,663,000 Yen
This foreclosed property in Akabira City is a replica of a traditional Japanese castle. The 6-storey reinforced concrete structure was originally called 'Tokugawa Castle" and was a doll museum. It was owned by the only festival doll manufacturer and supplier in Hokkaido, and the company used the space to display and sell their wares. The doll company still seems to be operating, but they have not used this building for the past five years. It has not been maintained during recent years and has some broken windows and roof damage.Read more
An update on building damage from the Tohoku earthquake
Just after the March 11 Tohoku earthquake it was announced that zero buildings had collapsed, which everyone naturally assumed was a testament to the strict building codes in Japan.
However, it has now been acknowledged that 100 apartment buildings in Sendai city have been completely destroyed.