Imperium Crown to exit Japan property market

Singapore

JUST two years after entering the Japanese property market, Imperium Crown wants to sell off all its properties in Japan, blaming in part softer rents in that market and saying the return on capital on its buildings was "not commensurate with the capital investment".

The Catalist-listed property investment group will call an extraordinary general meeting to get the green light from shareholders for the disposal, it said in a Singapore Exchange filing on Friday. Its decision came after it reviewed its business earlier this month.