JR Kyushu invests in S-E Asia property to cut reliance on Japan

Tokyo

JR KYUSHU Railway Co, the state-owned bullet-train operator seeking to raise as much as 416 billion yen (S$5.5 billion) in an initial public offering (IPO), plans to reduce its reliance on Japan by investing in residential and office properties in South-east Asia, its chairman said in an interview.

Investing in South-east Asia will be a first for the company, which owns five restaurants in China, Koji Karaike, 63, said in Fukuoka on Tuesday. Japan makes up almost all of the company's revenue, according to data compiled by Bloomberg.