Ja­pan Post to buy No­mura Real Es­tate?

New Straits Times - - Business -

TOKYO: Ja­pan Post Hold­ings was con­sid­er­ing buy­ing No­mura Real Es­tate Hold­ings in a bid to make real es­tate op­er­a­tions its new earn­ings pil­lar, said a source.

One op­tion for the pur­chase would be for Ja­pan Post to ac­quire ma­jor­ity stake in No­mura Real Es­tate through an open ten­der, and the deal would likely be sev­eral hun­dred bil­lions of yen in size, said the source.

Ja­pan Post had en­tered un­of­fi­cial talks with No­mura Hold­ings, a ma­jor share­holder of No­mura Real Es­tate, on the po­ten­tial deal, said the source.

There still was a pos­si­bil­ity that Ja­pan Post and No­mura Real Es­tate would opt for a cap­i­tal al­liance, rather than an out­right ac­qui­si­tion, said the source.

The pos­si­bil­ity of Ja­pan Post buy­ing No­mura Real Es­tate was first re­ported by pub­lic broad­caster NHK on Fri­day.

Ja­pan Post said on its web­site: “We are exploring var­i­ous pos­si­bil­i­ties re­gard­ing new cap­i­tal and busi­ness al­liances and will make an an­nounce­ment promptly once mat­ters that should be made pub­lic are fi­nalised.” Reuters

BLOOMBERG PIC

Ac­cord­ing to a source, Ja­pan Post has en­tered un­of­fi­cial talks with No­mura Hold­ings.

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