Okura Holdings has purchased a property in Nagasaki city for US$4m.
Japan.- Okura Holdings Limited, which operates pachinko halls in Japan, is seeking to diversify its income streams due to the impact of the Covid-19 pandemic on its business.
The company has bought a 650 square-metre lot, a seven-story building, and a parking lot situated in Nagasaki’s Sumiyoshimachi area for JPY442m (US$4m).
Okura Holdings said it has been exploring opportunities to enhance and diversify its revenue stream. It said the acquisition “provides an excellent opportunity for the group to expand its property investment portfolio.”
According to the group, the purchase “will allow the group to benefit from any future capital appreciation and generate a new source of rental income.”
Okura Holdings currently operates 17 pachinko halls, although it has closed some of its venues in Tokyo and Kanagawa after pressure from local governments.