- Japanese institutional investors
- Tallest tower...coming
- Land prices jump by transit stations
- Tokyo - still growing
- CIC's purchase of Tokyo’s Meguro Gajoen for $1.2 bln
- $5 bln project above Tokyo Station
- Blackstone offer to buy residential firm
- Capitaland's CMA Japan Trust acquires Vivit Minami-Funabashi for 305 bln yen
- Foreign investors vantage
- Office rents still down by 20%
GIC sinks US$1.7b into Tokyo space
GIC is taking up the entire office component of Pacific Century Place Marunouchi, next to Tokyo Station
- Mori, Sumitomo - Ginza
- Foreigners attracted to Tokyo residential
- Blackstone acquiring GE's Japan resi portfolio
- Weak yen attracts Hong Kong buyers to Japan (subscription)
The Japanese government is planning to target the assets of expatriate citizens squirrelling wealth abroad - their "big apartments and yachts in Hong Kong", as one expert put it - as they endeavour to avoid taxes at home. --2014 Nov 11 SOUTH CHINA MORNING POST
Japanese Pension Funds Move Slowly Into Real Estate
Whole City Block in Tokyo - Edo period?
TOKYO -- Bain Capital reckons Japan's hot spring industry is poised for foreign-tourist-driven growth, says managing director Yuji Sugimoto, and the U.S. private-equity firm is wading in with a big acquisition.
Bain said Friday it will buy Oedo-Onsen Holdings for about 50 billion yen ($421 million), including debt, with an eye to eventually listing the company. Oedo-Onsen's revenue is expected to grow 10% to 35.3 billion yen in the year ending Feb. 28.
Bain will buy all of the company's stock from its president, Hiroshi Hashimoto, and his family next month.
The company operates 29 hot spring hotels and bathhouse complexes in Japan. Its Oedo-Onsen Monogatari resort in Tokyo hearkens back to feudal days, when the capital was called Edo. Located in Odaiba, a powerful magnet for tourists, it is welcoming growing numbers of Taiwanese, Koreans and other Asian travelers, according to Sugimoto. Around a fifth of overnight guests are foreigners.
But Oedo-Onsen needs to do more to promote itself overseas, Sugimoto says. Bain will see to making the company's website available in more foreign languages than just English and Chinese, improve its online reservation system, and list its resorts in foreign travel guides.
Bain is no stranger to turning around chain operators, such as Japanese restaurant group Skylark, which it bought in 2011 and took public again last year. With its latest acquisition, the private-equity firm is looking to extend Oedo-Onsen's reach to the southern Japanese island of Kyushu by buying existing hotels in Beppu and other areas famous for hot springs. It is also aiming for economies of scale in procurement.