Nippon Tradings International
Japan Post Bank amplifies its real estate holdings to $27 billion, marking a significant 17.6% uptick from last year. Their strategic global diversification, notably in North America and Europe, mirrors a broader trend of Japanese investors exploring overseas markets in the post-Covid era.
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Japan considers revamping tax-free shopping for foreign visitors amid concerns of resale abuse. Proposals suggest a shift where tourists pay tax-inclusive prices and seek refunds later, aiming to deter the resale of tax-free items at regular prices abroad. Formal talks may commence during the fiscal 2024 tax review, addressing the issue of tax-free goods being profited from outside Japan’s borders.
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Commercial real estate transactions (JPY 1 billion or larger) dipped 9% to JPY 945.0 billion in Q3 2023, attributed to an 80% foreign investment drop. Despite this, J-REITs and domestic non-J-REITs soared to 2.4x the previous year’s investment. Retail led at JPY 321.0 billion, driven by Yodobashi Holdings’ substantial acquisition. Hotels and logistics also experienced notable year-on-year increases.
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Japan’s Ajinomoto is set to acquire U.S.-based Forge Biologics for $546 million. The deal, pending regulatory approval, is expected to be completed in December 2023. Ajinomoto plans to integrate Forge into its AminoScience platform to advance treatments for rare diseases.
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Kyoto’s Arashiyama district is cleaner thanks to “smart” trash cans that compress waste and send alerts when full. These high-tech bins improve garbage collection efficiency, but challenges arise during crowded times when trucks struggle to access the area. As tourists return, more trash cans are needed, but each smart unit costs over ¥500,000, presenting a financial obstacle. A balance between technology and cost-effective solutions is crucial to maintaining the district’s cleanliness amidst growing tourist numbers.
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The Tokaido Shinkansen, which connects Tokyo and Shin-Osaka, has discontinued its onboard food cart service due to a shortage of workers and declining sales. The service had been a feature of the line since its inception in 1964. Despite popular offerings like Shinkansen-exclusive ice cream, sales couldn’t compete with convenience stores and station shops. Central Japan Railway Co. (JR Tokai) intends to explore alternative service models and innovations to address this issue.
View article The International Monetary Fund’s (IMF) latest projections estimate Germany’s nominal gross domestic product at US$4.43 trillion (S$6.04 trillion) in 2023, compared with US$4.23 trillion for Japan. The projections come as the yen teeters close to the 160 mark against the euro and remains within striking distance of the 33-year low against the dollar that sparked a second round of currency intervention in October 2022.
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Japan’s real estate market is witnessing a substantial influx of foreign investors who are looking to capitalize on the country’s investment appeal. These investors are actively seeking properties such as logistics facilities and offices, buoyed by Japan’s low interest rates, which make financing their purchases highly advantageous.
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In an effort to spur the development of vital industries like semiconductors, storage batteries, and biotechnology, the Japanese government is poised to relax land use regulations, as per Nikkei’s report. This strategic maneuver is aimed at mitigating the challenges posed by land shortages, which have been particularly pressing in the semiconductor sector, potentially impeding critical factory investments.
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Despite a slowdown in inflation, persistent increases in the prices of essential goods and services are expected to maintain pressure on the Bank of Japan to gradually reduce its extensive economic stimulus measures. Analysts suggest that the Bank may need to revise its inflation projections upwards for the current fiscal year at its upcoming October meeting, as inflation is moderating at a slower pace than initially anticipated.
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Japan’s rising real estate values are spilling over its three major metropolitan areas -Tokyo, Osaka and Nagoya, where the upturn began, according to a survey by released by the land ministry, as foreign money continues to pour into the market. The outlying areas seeing price rises benefit from three factors – foreign tourism, industrial investment in areas such as semiconductors and redevelopment projects.
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Fujitsu is joining the exodus of companies moving their main offices out of Tokyo as remote work catches on in Japan and reduces the need to maintain expensive office space. It said the move is the result of a review of the company’s office needs now that so many employees are working from home. The tech giant announced on Sept. 22 that they will relocate their HQ from Minato-ku to Kawasaki city by the end of September next year.
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