GIC seeks Japan property deals as yen falls and tourists return

SINGAPORE, Sep 30 (Business Times) - Singaporean sovereign wealth fund GIC is on the hunt for property deals and corporate partners across Japan as the falling yen and border reopening trigger a rush of tourists and deals.

Hotels, resorts and ryokan in key cities including Tokyo and Okinawa are among the types of properties being evaluated, head of global investment and portfolio strategy Goh Chin Kiong said in an interview.

The fund’s recent deal to buy properties from Japanese railway and hotel conglomerate Seibu Holdings hit the low single-digit billions of dollars and GIC is “happy to do more of those sizes”, Goh said. Apart from hospitality, it is also interested in real estate such as residential and logistics projects, he added.

Japan’s property market has become a global target for large investors as the government prepares to scrap most of its remaining pandemic travel restrictions on Oct 11. That’s despite the risk that investors could get caught out if the yen continues to decline against the US dollar. ...continue reading

Japan’s Michibiki Satellite System to Revolutionize Navigation

The latest model of Japan’s quasi-zenith satellite system, Michibiki, often referred to as the Japanese version of GPS, has been unveiled.

'Digital Human' Revealed at Kansai Expo

Digital human technology, set to be featured in a pavilion at the Osaka-Kansai Expo next April, was unveiled by media artist Yoichi Ochiai.

Harry Potter Sword Recalled Over Possible Weapons Violation

Warner Bros. Studio Japan has announced the recall of the 'Godric Gryffindor's Sword,' a piece of merchandise sold at the Harry Potter-themed interactive facility in Nerima Ward, Tokyo.

Perovskite Solar Cells to Become Available in Two to Three Years

A Japanese researcher behind the development of next-generation 'perovskite solar cells' expressed confidence that the product will be available to the public within two to three years.

Kanto's Biggest Sauna Facility Opens in Saitama

A new hot spring facility, touted as the largest in Kanto, opened this autumn in Tokorozawa, Saitama. Featuring saunas, gourmet collaborations, and private relaxation spaces, the complex has already garnered attention from enthusiasts.

MEDIA CHANNELS

MORE Business NEWS

Inbound Tourism Drives Revenue Growth for Japan Airlines, But Costs Weigh on Profits

Japan’s airline industry is experiencing a significant boost from record inbound tourism, but rising costs and geopolitical challenges are tempering the financial gains.

Kirin to Raise Prices on Beer and Chuhai in April

Kirin Brewery has announced that it will increase prices on over 200 products, including beer and chuhai, starting in April next year. All three major beer companies will implement price hikes at the same time.

Amazon Japan Under Scrutiny for Pressuring Sellers on Pricing

The Japan Fair Trade Commission (JFTC) has launched an on-site investigation into Amazon Japan, alleging that the company forced sellers to lower prices. The investigation will also examine potential involvement by Amazon's U.S. headquarters.

PwC and Takara to Launch English Reporting Services

PwC, a leading audit firm, and Takara Printing have announced a collaboration to provide English disclosure support services, including the translation of securities reports. This initiative comes as the Tokyo Stock Exchange plans to mandate companies listed on the Prime Market to disclose financial information in English starting April 2025, aiming to attract overseas investors.