Japan

Mapletree North Asia Commercial Trust to acquire 2 office properties in Greater Tokyo for $482.5 mil

SINGAPORE (Dec 5): The trustee of Mapletree North Asia Commercial Trust (MNACT) has entered into agreements to acquire an effective interest of 98.47% in two office properties in Japan for a total acquisition cost of $482.5 million, the manager announced after market close on Dec 4.

The two freehold, multi-tenanted properties have a combined gross floor area (GFA) of 180,941 sqm and a net lettable area (NLA) of 91,583 sqm.

Parkway Life REIT to acquire 3 nursing rehabilitation facilities in Japan for $46.3 mil

SINGAPORE (Dec 3): Parkway Life Real Estate Investment Trust (PLife REIT) is acquiring three nursing rehabilitation facilities in Japan for a total consideration of 3.7 billion yen ($46.3 million), the manager announced Tuesday.

The trustee of PLife REIT, through its wholly-owned subsidiary Parkway Life Japan4, has entered into a Tokumei Kumiai (or silent partnership) agreement for the acquisition of the properties. This is similar to the holding structure for PLife REIT’s previous acquisitions in Japan, the manager says.

Briefs

SINGAPORE (Oct 28): “Closing the gaps requires both jobseekers and employers to be more open and flexible.”Singapore’s Manpower Minister Josephine Teo, on the widening mismatch between job seekers and openings available

Japan, South Korea agree to ease long-standing feud

Japanese Prime Minister Shinzo Abe and South Korean Prime Minister Lee Nak-yon have agreed that they must work to ease the feud between their countries that has spilled over into trade and security.

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Japan lines up to join Germany in all-negative yield curve club

(Aug 23): Japan’s sovereign debt market is in danger of joining Germany with negative bond yields across all maturities.

Yields in the Asian nation are already negative all the way out to debt maturing in 15 years, and buyers from home and abroad have been snapping up longer-tenor Japanese government bonds, adding to the downward pressure.

Sands shifts focus to Tokyo in drive for first Japanese casino

(Aug 23): Las Vegas Sands Corp will focus on the Tokyo and Yokohama areas as potential locations to build a casino resort, as Japan moves forward with plans to open facilities that allow gambling.

Sands said in a statement Thursday that it’s no longer interested in Osaka, long seen as the place where the country’s first casino resort may open. A maximum of three locations will be allowed under a law passed last year.

China no match for Japan in Southeast Asia infrastructure race

(June 24): Japan is still winning the Southeast Asia infrastructure race against China, with pending projects worth almost one and a half times its rival, according to the latest data from Fitch Solutions.

Japanese-backed projects in the region’s six biggest economies -- Indonesia, Malaysia, Philippines, Singapore, Thailand, and Vietnam -- are valued at US$367 billion ($497 billion), the figures show. China’s tally is US$255 billion.

Pristine adventures

Discovered by Yamaha Corp in the 1980s during its search for the world’s finest powder snow, Kiroro is brimming with activities and entertainment for all generations and seasons.

Venture faces 2019 earnings risk due to competition, says UOB Kay Hian

SINGAPORE (Oct 19): UOB Kay Hian is maintaining its “hold” call on Venture Corporation with a target price of $18.20.

This comes post the release of Philip Morris International’s (PMI) 3Q earnings statement last night, which reflected strong operating metrics but a more mixed outlook on device production split, in UOB’s view.

In a Friday report, analyst Foo Zhiwei says current levels may not represent a buying opportunity, as he remains cautious on Venture’s earnings outlook.

10 events that matter to investors in final quarter of 2018

(Oct 9): With the final quarter of 2018 fast approaching, we look at the key events on the agenda for investors. As many northern hemisphere investors get their feet back under their desks after the summer break, we look at the key events and themes likely to be on the agenda for September and the fourth quarter of 2018.

Thakral Corp acquires $66 mil worth of hotel & office properties in Osaka

SINGAPORE (Oct 1): Thakral Corporation says it has acquired a hotel and two office properties in Osaka, Japan, valued at JPY5.46 billion ($66 million) in total.

The group’s move comes as part of its overall strategy to broaden its asset & earnings base in order to capitalise on Japan’s strong economic fundamentals and tourism boom, according to Thakral in a press release on Monday.

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