Japan-U.S. Business Report
Japan-U.S. Business Report
Continuing business problems at home are forcing Japanese real estate investors to sell off more properties in the United States as part of their restructuring. For example, a U.S. subsidiary of general contractor HAZAMA CORP. recently took a loss on the $237 million sale of a 44-story office building in Seattle to an affiliate of a Canadian company. The Hazama firm, PACIFIC EAGLE CORP., was liquidated following the sale.
An exchange rate of ¥130=$1.00 was used in this report.
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