Sojitz plans to list Reit in April

[TOKYO] Sojitz Corp, the Japanese trading house that operates malls near the nation's capital, is preparing an initial public offering of some of its property assets on the Tokyo Stock Exchange as early as April, three people with knowledge of the matter said.

Sojitz plans to list a real estate investment trust with about 70 billion yen (S$866.7 million) of assets, including office and residential buildings in Tokyo, said two of the people, who asked not to be identified as the details are private. Sojitz Reit Advisors will manage the trust, they said.

The offering from Sojitz would follow listings of property trusts by Aeon Co, the country's biggest retailer, and developer Hulic Co amid expectations the 2020 Olympic Games in Tokyo will boost real-estate prices.