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J-REIT: Notice Concerning Property Acquisition and Transfer-Premier Investment Co.

Dec 18, 2018
byInvestment in Japan

J-REIT>Premier Investment's announcementPremier Investment Corporation ("PIC") announces that Premier REIT Advisors Co., Ltd.("PRA"), the asset management company for PIC, today decided on the acquisition of an office building and the transfer of an office building.

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Recent News

J-REIT: Acquisition of Two Office Assets and Sale of Two Non-Office Assets-Ichigo Office REIT

Dec 17, 2018
byInvestment in Japan

J-REIT>Ichigo Office REIT's announcementIchigo Office decided today to acquire two office assets and sell two non-office retail assets.

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Noriyuki Morimoto's Blog

Price of a Japanese gourd surging by 6000 times

Dec 17, 2018
byNoriyuki Morimoto

“Seibei and the gourd” is a short story written by Shiga Naoya in 1913. The protagonist of this story is Seibei, a 12-year-old elementary school student who is a big fan of gourds. He obtains a gourd with a good shape for 10 sen, and carefully polishes it. But this gourd is taken away from him when he is found polishing it at school. The teacher gives the gourd to an old janitor. The janitor sells it to an antique shop for 50 yen. The antique shop then sells it at a whooping price of 600 yen to a rich person. This story tells you that something can raise its price exponentially from 10 sen to 600 yen, a 6000 times difference. The biggest contribution to this 6000 times price hike is the excellent trading skill of the antique shop. The shop owner correctly understood the value of the gourd, knew of rich collectors who would willingly pay money to obtain such a good product, and was financially capable of paying 50 yen to the old janitor to obtain the gourd. At the time of buying the gourd at 50 yen, there is no guarantee on how much it would sell for. Nevertheless, the courage to go forward to pay 50 yen based on one’s eye for value is what ultimately led to a successful transaction. Essentially, what led to the antique shop’s great investment was the combination of four strengths: each for valuation, information, finance, and courage. Historical figures who rose to the top in a single generation seem to have had these strengths without exception. However, the price of 600 yen was not created just with the antique shop’s skill. At the very beginning was Seibei, who discovered a good-shaped material and put in the effort to polish it to perfection, creating the gourd’s value. The 600 yen can be broken down into the value of the gourd created by Seibei and the price exceeding its value based on the trading skill of the antique shop, which captured the created opportunity. It was Seibei who had created a valuable gourd. However, without the antique shop, the value created by Seibei would not have been realized in society in the form of a price. The economy is made from the creation and distribution of value: in the course of distribution, value leaves a trail in the form of price. By the way, how was the 600 yen distributed? 550 yen to the antique shop, 50 yen to the janitor, and zero to Seibei, who is actually at a 0.1 yen loss. Although it was probably not Shiga Naoya’s intention to accuse the injustice of this distribution structure.

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Recent News

J-REIT: Notice Concerning Acquisition and Leasing of Asset - NIPPON REIT

Dec 14, 2018
byInvestment in Japan

J-REIT>NIPPON REIT's announcementNIPPON REIT Investment Corporation ("NIPPON REIT") announces that Sojitz REIT Advisors K.K. ("SRA"), which is entrusted with managing the assets of NIPPON REIT, today decided on the following acquisition (the "Acquisition") and leasing of asset.

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Recent News

Today's Pick

Dec 12, 2018
byAkane Hashimoto

Mass Resignation at State-Backed Fund Confounds Japan’s Quest for Tech Unicorns"Well summarized article."Japan to require listed companies to disclose executive pay rules"Move to better disclosure and transparancy."Japan Revokes Lucrative Package for Fund Executives"I'd like to classify this as a  governance related issue." Recent NewsBusinessSoftBank May Be Milking Its Cash Cow DryDetails of the Term of Disposal Following the Listing of the Shares of SoftBank Corp. on the Tokyo Stock Exchange (PDF)SoftBank Sells All Shares for $23 Billion Telecom IPO EconomyJapan manufacturers' mood down, bodes ill for Bank of Japan survey: Reuters Tankan Policy(BOJ)BOJ's Kuroda dismisses chance of near-term rate hike Governance/Stewardship/FiduciaryJapan’s Crusade for Corporate Overhaul Under Threat, Watchdog Says  

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Recent News

J-REIT: Notice Concerning Issuance of Investment Corporation Bonds

Dec 12, 2018
byInvestment in Japan

J-REIT>Nippon Building Fund's announcementNippon Building Fund, Inc.("NBF") hereby provides notice of its decision on December 11, 2018 to issue investmet corporationbonds.

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Recent News

Private Equity in Japan : Corporate Action

Dec 11, 2018
byInvestment in Japan

Private Equity in Japan>Cool Japan Fund's announcementCool Japan Fund is pleased to announce the investment of approximately 3 billion yen in Spiber Inc. (headquartered in Tsuruoka, Yamagata; hereafter “Spiber”), a biotech venture company launched out of the Keio University Institute for Advanced Biosciences in 2007. Spiber engages in the development and production of synthetic proteins based on engineered spider silk DNA. Funds raised from this round, in which the Cool Japan Fund was the lead investor, will be used to propel Spiber’s transition into the commercialization phase. >TOKIO MARINE CAPITAL's announcementTOKIO  MARINE  CAPITAL  CO.,  LTD.  (“TMC”)  announced  that  TMCAP2016 limited partnership, which is an investment fund managed by TMC, made an investment in Asahi House Industry Co., Ltd..    

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Recent News

Private Equity in Japan : INCJ to make investment in Axelspace Corporation Company provides integrated microsatellite services from development to data analysis and aims to build a global observation network

Dec 10, 2018
byInvestment in Japan

Private Equity in Japan>INCJ's announcementTokyo, December 7, 2018 — INCJ Ltd. (‘INCJ’) announced today its decision to make an investment of up to JPY 850 million in Axelspace Corporation (Axelspace) to be used for accelerating its business, and the completion of JPY 600 million of this phased investment. In addition, the investors in this round of financing include 31 Ventures Global Innovation Fund I (managed by Mitsui Fudosan and Global Brain Corporation), UTokyo Innovation Platform Co., Ltd, SBI Investment Co., Ltd., and the Dai-Ichi Life Insurance Company, Ltd.

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Recent News

Private Equity in Japan : JIS to Acquire Shares of Royal International Co., LTD and 8 Other Companies

Dec 07, 2018
byInvestment in Japan

Private Equity in Japan>Japan Industrial Solutions' announcementJapan Industrial Solutions Co., Ltd. is pleased to announce that Japan Industrial Solutions Fund II (hereinafter collectively referred to as “JIS”) has acquired all shares of Royal International Co., Ltd. and it’s eight other affiliate companies (hereinafter referred to as the “Target Company Group”) from the founding family through Hokkaido Natural Bio Group Co., Ltd. established by JIS.

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Recent News

Today's Pick

Dec 05, 2018
byAkane Hashimoto

Japan's 'Show Me the Money' Corporate Governance: Q3 Weather Effect"This article describes the fact of Japan economy growth that are hidden by questionned governance."Japan's Line partners Mizuho, Tencent in fintech drive; shares jump"Let's prioritize how to build a long standing sharing economy, higher productivity than higher growth." EconomyJapan industrial production surges in October BusinessJapan Legal Update - Volume 42 | November 2018 Governance/Stewardship/FiduciaryGhosn’s fall exposes poor governance at NissanAbe and Japan Inc facing stormy seas  

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Recent News

J-REIT: Notice Concerning Acquisition and Disposition of Assets-Daiwa House REIT

Dec 05, 2018
byInvestment in Japan

J-REIT>Daiwa House REIT's announcement①Daiwa House REIT Investment Corporation ("DHR") announced the decision made by Daiwa House Asset Management Co., Ltd. (the "Asset Manager"), the asset manager to which DHR entrusts the management of its assets, for DHR to acquire three properties (the "Assets Scheduled for Acquisition") and dispose of one property (the "Asset Scheduled for Disposition", respectively the "Acquisition" and the "Disposition", and collectively the "Transactions"). >Daiwa House REIT's announcement②Daiwa House REIT Investment Corporation ("DHR") announced that decided to conduct debt financing.

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Recent News

Private Equity in Japan:Integral Announces Investment in Toyo Engineering Corporation

Dec 04, 2018
byInvestment in Japan

Private Equity in Japan>Integral's announcementIntegral Corporation ("Integral") is pleased to announce that Integral Team Limited Partnership and Innovation Alpha Team L.P., investment funds advised by Integral, have reached an agreement with Toyo Engineering Corporation ("TOYO"; TSE6330) on the third-party allotment of newly-issued-preferred stock of TOYO for the amount of 15 billion Japanese yen (the "Transaction").

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