Takashi Ishizawa News
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As Goldman Sachs Group Inc. and billionaire Masayoshi Son lead a swarm of investors exploiting Japan’s solar power subsidies, the world’s biggest, Sumitomo Corp. is betting on wind.
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Japan’s land prices dropped at a slower pace for a third year as low interest rates and tax incentives supported housing demand.
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Osaka, Japan’s biggest financial center outside Tokyo, is building a business and shopping complex that will add 6 million square feet (557,000 square meters) of space in a city where more than half of new offices remain empty.
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Tokyo’s office rent fell 3.7 percent in 2011 from a year earlier to a record low as vacancy rates remained high, according to Miki Shoji Co., an office brokerage company.
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Sapporo Holdings Ltd., Japan’s fourth-largest brewer, said it’s in talks to repurchase a 15 percent stake in its Yebisu Garden Place property in Tokyo from Morgan Stanley.
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Blackstone Group LP may buy Morgan Stanley Japan’s real estate assets, making its first property investment in the country, a person familiar with the deal said.
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ProLogis , the world’s largest warehouse operator, is in talks to combine with rival AMB Property Corp. that would create a $14 billion real estate investment trust.
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Japan’s home-mortgage costs are dropping, with rates at the lowest since 2009, as a recession deters borrowers and keeps benchmark government bond rates low.
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Properst Co. , the Japanese property developer that had Madonna promote high-rise apartment sales in central Tokyo, filed for bankruptcy protection as the credit crisis pushed condominium sales to almost two-decade lows.
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A decade after the industry began, Japan’s real estate investment trusts, the country’s biggest property buyers, are set to sell more bonds as they face a record amount of debt coming due next year.
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