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No. 352, January 1999

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Japanese Companies in the US


CONSTRUCTION AND REAL ESTATE

Trader NICHIMEN CORP. and big contractor KAJIMA CORP. have decided that building warehouses for eventual sale is a money-maker. The first location for this equally owned project is Sacramento, California. There, at a cost estimated at $31 million, they will put up six warehouses on a 1.9 million square foot piece of property, building two at a time. The first pair should be ready by June 1999. Once all six are up, occupied and profitable, the partners expect to sell the complex. A company formed by the U.S. subsidiaries of Nichimen and Kajima will manage the distribution center.

An exchange rate of ¥117=$1.00 was used in this report.aaaaaa

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