trending Market Intelligence /marketintelligence/en/news-insights/trending/28QbIfudBC_AaG5LsU0Mvg2 content
Log in to other products

Login to Market Intelligence Platform


Looking for more?

Contact Us
In This List

Asset managers of 3 property companies in Japan initiate merger proceedings

Gauging Supply Chain Risk In Volatile Times

The Commercial Real Estate (CRE) Sector Feels the Impact of the Coronavirus

Credit Analytics Case Study Poundworld Retail Ltd


IFRS 9 Impairment How It Impacts Your Corporation And How We Can Help

Asset managers of 3 property companies in Japan initiate merger proceedings

The asset manager of Japan Retail Fund Investment Corp. and Industrial & Infrastructure Fund Investment Corp. agreed to merge with the asset manager of Mcubs MidCity Investment Corp. under a memorandum of understanding executed March 22.

Mitsubishi Corp.-UBS Realty Inc. will absorb Mcubs MidCity Investment Corp. as part of the plan. As the surviving entity following the absorption-type merger, Mitsubishi will also manage the assets of the three Japanese real estate investment trusts.

Respective boards of the merging asset managers will consider for approval the proposed merger during a general shareholder meeting scheduled April 12. If approved, the merger is expected to take effect July 1.

Katsuji Okamoto, the current president and CEO of Mitsubishi, will retain his posts in the new entity that will have ¥500 million in paid-in capital.

The listings in Japan of Japan Retail Fund, Industrial & Infrastructure and Mcubs MidCity Investment will be unaffected by the merger, according to separate filings.

As of March 22, US$1 was equivalent to ¥109.84.