20 Japanese companies invited to join Osaka consortium

MGM Japan has invited firms to partner in its Osaka Integrated Resorts consortium that is currently operates with Orix Corporation.

Japan.- IR operator MGM Japan, which jointly leads the Osaka IR consortium with the Orix Corporation, has invited 20 local companies to join the group.

According to a report from Nihon Keizai Shinbun, invitations have been given to Panasonic, JR West and the Kansai Electric Power Company.

Other firms being offered smaller stakes include Keihan Holdings, Osaka Gas and Daikin Industries.

In total, the twenty firms would invest about JPY140 billion (€1.1 billion) into the consortium.

The invited firms have not confirmed if they will join the consortium but they are expected to have done so by April when MGM-Orix will deliver its proposal to the government of Osaka.

The Osaka government is likely to announce its consortium partner in June, before any other Japanese local government.