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Today's Pick

Jan 23, 2019
byAkane Hashimoto

Japan firms have no plans to strengthen governance after Ghosn arrest: Reuters poll"Although accurate disclosure is very important, the question here may be more about Mr. Ghosn's incentives behind the fact." Investors have for decades taken an 'Asia ex-Japan' approach. Some say that's 'obsolete'"Because Japan is no more dominant in the region. Makes sense." New Japanese regulatory proposal could hit US CLOsU.S. CLO Market at Risk From Proposed Japanese Rule Change"The proposal is based on BIS revision announced in 2016. (https://www.bis.org/press/p160711.htm). Improving investors ability to select good assets might be more important than applying rules." BusinessCarlyle, Nomura plan joint bid for beer maker OrionJapan Tobacco ratchets up smokeless war with new products EconomyForeign tourists spent record ¥4.5 trillion in Japan in 2018

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Recent News

J-REIT: Announcement of Acquisition of Domestic Properties-Japan Real Estate Investment Co.

Jan 22, 2019
byInvestment in Japan

J-REIT>Japan Real Estate Investment Corporation's announcement①Japan Real Estate Investment Corporation ("JRE") announced that Japan Real Estate Asset Management Co., Ltd., an asset management company to which JRE entrusts the management of its properties, decided on January 21, 2019 the acquisition of domestic properties. >Japan Real Estate Investment Corporation's announcement②Japan Real Estate Investment Corporation announced its decision on January 21, 2019 to procure funds. 

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Recent News

J-REIT: Notice Concerning Acquisition of Properties (Zama Distribution Center and Oppama Distribution Center)

Jan 17, 2019
byInvestment in Japan

J-REIT>KENEDIX Retail REIT Corporation's announcementKenedix Retail REIT Corporation (“KRR”) announced today that Kenedix Real Estate Fund Management, Inc. (“the Asset Manager”), the asset manager for KRR, has decided to acquire the following properties. This will be the first acquisition of distribution centers by KRR.

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Recent News

Today's Pick

Jan 16, 2019
byAkane Hashimoto

In Fast-Aging Japan, Elder Care Is a High-Tech Pursuit“The demand for senior care is driving innovation and spawning startups.”World’s most valuable AI startup SenseTime unveils self-driving center in Japan“In Tsukuba Science City.” Governance / Stewardship / FiduciaryChance to change the World Bank's governance EconomyHow Aging Japan Defied Demographics and Revived Its Economy GPIFGPIF puts funds under an AI microscope

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Recent News

J-REIT : Notice Concerning Property Disposition-Nomura Real Estate Master Fund

Jan 16, 2019
byInvestment in Japan

J-REIT>Nomura Real Estate Master Fund's announcementNomura Real Estate Master Fund, Inc.("NMF"or the "Fund") announced the decision made today by Nomura Real Estate Asset Management Co., Ltd. (the "Asset Management Company"), a licensed investment trust management company retained by the Fund to provide asset management services, to dispose of assets.

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Noriyuki Morimoto's Blog

Japanese companies used to sing company songs

Jan 15, 2019
byNoriyuki Morimoto

In the past, Japanese companies tended to have some extent of a religious atmosphere, singing company songs or chanting business philosophies like mantras. And actually, not only in the good-old days of Japan but also in the modern global economy, a symbol of communal belief is needed for the existence and growth of companies, regardless of whether it seems religious or not. Today, the proper name for that symbol would be brand. Customer reputation is the very value of a company, and it is represented in its brand. That is true even while the reputation of customers is actually largely unfounded, and is something that can be called a myth. The company’s ability to create such myths makes its brand function to support corporate value. And more importantly, myths must be believed within the company as well, as spreading an unbelieved myth to the customer is a fraudulent and insincere act to its customers. A myth can pass as such to outside the company because it is believed internally. Outside the company, the myth is a symbol of customer's trust in the company's products and services. Inside the company, it is a symbol of pride for the company’s products and services. When that pride develops into a responsibility to never betray the customer's trust, it is established as a brand and corporate value. Therefore, brands cannot be maintained without daily innovation and creation within the company. Given the speed of change in contemporary society, as soon as a brand becomes complacent, it will betray customers' trust, and corporate value will collapse. The commitment to never betray customer trust should inevitably lead companies to daily innovation and creation. Faith is faith because it is deepened by a new sense of devotion every single day. Brands retain their myths because they keep advancing and developing through daily corporate efforts. Myths are recalled every day, and their meaning has to be reconfirmed every day. As faith has daily prayers, myths also need daily rituals. Therefore in the past, people in Japanese companies sang company songs like singing an ode.

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Recent News

J-REIT : Notice Concerning Asset Acquisition (Equity Investment in a Silent Partnership)

Jan 10, 2019
byInvestment in Japan

J-REIT>MCUBS Group's announcementIndustrial & Infrastructure Fund Investment Corporation ("IIF") announced today that Mitsubishi Corp.–UBS Realty Inc., IIF’s asset manager, decided to invest in silent partnership (hereinafter referred to as the "Tokumei Kumiai"). It is the first case for J-REIT to invest in a Tokumei Kumiai based on the Principles for Positive Impact Finance.

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Recent News

Today's Pick

Jan 09, 2019
byAkane Hashimoto

Carlos Ghosn To "Vigorously" Defend Himself In Japan Court, Says Son"Son is not Mr. Masayoshi Son, Carlos Ghosn's son."Ministry panel launches governance review of Japan Investment Corp. as whole board set to quit"Why METI cannot be an LP? Investment and creating a potential additional board seat for ex METI officials are different agendas. " BusinessSoftBank said to be investing $2 billion more in WeWorkJapanese Giant Mizuho Financial Group to Introduce Digital Currency for Cashless Payments EconomyTen Surprises for Japan in 2019 Governance/Stewardship/FiduciaryStewardship Code : 239 institutional investors have signed up to the Principles for Responsible Institutional Investors as of December 14, 2018 

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Recent News

J-REIT: Japan Hotel REIT's announcement

Jan 09, 2019
byInvestment in Japan

J-REIT>Japan Hotel REIT's announcement①Japan Hotel REIT Investment Corporation informs you that JHR has resolved at the Board of Directors meeting today to issue new investment units and conduct a secondary offering. >Japan Hotel REIT's announcement②This is to inform you that Japan Hotel REIT Advisors, Co., Ltd., the asset management company of Japan Hotel REIT Investment Corporation, has resolved to acquire and lease the properties on behalf of JHR. >Japan Hotel REIT's announcement③Japan Hotel REIT Investment Corporation informs you that the board of directors' meeting today resolved on new borrowings.  

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Recent News

J-REIT: Comforia Residential REIT's announcement

Jan 08, 2019
byInvestment in Japan

J-REIT>Comforia Residential REIT's announcement①Comforia Residential REIT, Inc (“Investment Corporation”) announces that it has resolved at the board of directors’ meeting  held  today  concerning the issuance of new investment units and secondary offering of investment units. >Comforia Residential REIT's announcement②Comforia Residential REIT, Inc (the “Investment Corporation”) announces that TLC REIT Management Inc., to which the Investment Corporation entrusts management of its assets (the “Asset Management Company”) decided today for the Investment Corporation to acquire and lease the investment assets (COMFORIA SHIBUYA WEST, and other 8 assets). In addition, the acquisition and the lease of investment assets are approved by the Investment Corporation’s Board of Directors in accordance with the Act on Investment Trusts and Investment Corporations (Act No.198 of 1951. Including subsequent revisions) (“Act on Investment Trusts and Investment Corporations”) and the bylaws of the Asset Management Company concerning transaction with interested parties. (Please refer to “7. Asset Management Company’s Interested Parties in the Assets to be Acquired”)

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Recent News

Today's Pick

Dec 26, 2018
byAkane Hashimoto

Policy (BOJ)"Diverse nuances..."Japan Finally Concedes Its Crazy Low Prices Can’t Be Beat Japan's central bank chief signals room to boost stimulus as economic risks riseBank of Japan keeps stimulus unchanged at last policy meeting of year Business"Expecting further discussions about the fairness of subsidiary IPO and appropriate valuation."After record Japan IPO, SoftBank Corp shares fall 14pc on debutSoftbank shares down as mobile unit makes Tokyo debutSoftBank’s Biggest Backers Balk at Planned $16 Billion Acquisition of WeWork Japan Inc heads abroad in $180bn deal rushJapan’s Post Holdings Buys 7% of Insurer Aflac Governance / Stewardship / FiduciaryNissan Alters Governance Code, Won't Rule Out Renault Stake Sale EconomyJapan exports slow to crawl as global growth, trade woes dim outlook 

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Recent News

Private Equity in Japan : INCJ's announcement

Dec 26, 2018
byInvestment in Japan

Private Equity in Japan>INCJ's announcement①Tokyo, December 25, 2018 — INCJ Ltd. (‘INCJ’), Maxell Holdings, Ltd. (‘Maxell’) and Hitachi Automotive Systems, Ltd. (‘Hitachi Automotive Systems’) have concluded Basic Agreement and Share Purchase Agreement for investment in Hitachi Vehicle Energy, Ltd. (‘Hitachi Vehicle Energy’), a manufacturer of lithium-ion batteries for automobile. >INCJ's announcement②Tokyo, December 25, 2018 – INCJ Ltd. (“INCJ”) announced today its decision to make a second, follow-on investment in NapaJen Pharma, Inc. (“NapaJen Pharma”), a bio-venture aiming to develop systemic nucleic-acid drugs. INCJ will make this follow-on investment of up to $12 million through a third-party share allocation to provide the necessary funding for the development of pharmaceuticals. Furthermore, the investors in this round of financing include existing investor Mitsui & Co. Global Investment, Inc. and new investor P&E DIRECTIONS, INC.

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