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Japan Post Holdings to buy Nomura Real Estate Holdings: NHK

[TOKYO] Japan Post Holdings will buy Nomura Real Estate Holdings to strengthen its presence in the real estate development market, national broadcaster NHK reported on Friday.

Japan Post is preparing to issue a tender offer bid to buy Nomura Real Estate, NHK said, citing sources it did not identify.

Telephone calls to Japan Post and Nomura Real Estate were not answered.

Japan Post has been acquiring other companies, but not all the transactions have gone well.

Last month, Japan Post announced a shock US$3.6 billion writedown on its purchase of Australian logistics firm Toll Holdings Ltd.

REUTERS

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