{"id":22557,"date":"2021-09-13T10:48:45","date_gmt":"2021-09-13T13:48:45","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=22557"},"modified":"2026-04-23T15:44:52","modified_gmt":"2026-04-23T18:44:52","slug":"yokohama-ir-withdrawal-wont-affect-osakas-plans","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/yokohama-ir-withdrawal-wont-affect-osakas-plans","title":{"rendered":"Yokohama IR withdrawal won&#8217;t affect Osaka&#8217;s plans"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">Hirofumi Yoshimura, Osaka&#8217;s governor, has said Osaka&#8217;s IR plans won&#8217;t be impacted by Yokohama&#8217;s withdrawal from the contest.<\/p>\n\n\n\n<!--more-->\n\n\n\n<p class=\"wp-block-paragraph\">Japan.- While Yokohama&#8217;s new mayor has <a rel=\"noreferrer noopener\" target=\"_blank\" href=\"https:\/\/focusgn.com\/asia-pacific\/yokohama-ir-plans-to-be-cancelled-from-october-1\">scrapped the city\u2019s IR plans<\/a>, Hirofumi Yoshimura has insisted that Osaka&#8217;s plans remain very much afloat.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The Osaka governor said: &#8220;Regardless of the trend in Yokohama, I would like to proceed by achieving the world\u2019s highest level of IR. I don\u2019t think the intention of Mayor Yamanaka will affect Osaka.&#8221;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">In July,<strong>\u00a0MGM Resorts International and ORIX (MGM-Orix)<\/strong>, the only bidder, officially submitted their\u00a0<a rel=\"noreferrer noopener\" target=\"_blank\" href=\"https:\/\/focusgn.com\/asia-pacific\/mgm-orix-to-invest-us9-1bn-in-osaka-ir\">IR proposal<\/a>\u00a0to the Osaka Prefecture.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">According to the\u00a0<strong>request-for-proposal (RFP) received by the Osaka Prefecture<\/strong>, around 20 firms from the surrounding Kansai region have agreed to take an equity stake in the consortium that will develop the planned resort.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>MGM-Orix<\/strong>\u00a0has proposed to invest\u00a0<strong>JPY1tn (US$9.1bn).\u00a0<\/strong>Authorities are expected to approve the company as a private partner for Osaka\u2019s IR bid in September and to submit Osaka&#8217;s <strong>IR development plan to the national government in April 2022<\/strong>. The resort <a rel=\"noreferrer noopener\" target=\"_blank\" href=\"https:\/\/focusgn.com\/asia-pacific\/mgm-orix-osaka-ir-would-launch-no-earlier-than-2028\">would not launch until at least 2028<\/a>, and possibly not until 2030.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Hirofumi Yoshimura, Osaka&#8217;s governor, has said Osaka&#8217;s IR plans won&#8217;t be impacted by Yokohama&#8217;s withdrawal from the contest.<\/p>\n","protected":false},"author":176,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"Osaka's Governor Yoshimura confirms the city's IR development plans, led by the MGM-Orix consortium, will proceed despite Yokohama's withdrawal, targeting a JPY1tn investment and a 2028-2030 launch. The consortium, backed by Kansai region firms, awaits national government approval for its integrated resort proposal.","focusai_entities":"Hirofumi Yoshimura, Mayor Yamanaka, MGM Resorts International, ORIX, MGM-Orix","focusai_location":"Osaka, Yokohama, Japan","focusai_target_profile":"ceo_executive (0.9), regulator (0.9), compliance_legal (0.7), operator_casino (1.0), investor_analyst (1.0), supplier_vendor (0.8), journalist_researcher (0.9)","focusai_suggestions":[{"label":"Osaka IR Funding Structure","query":"What specific equity stake percentages are anticipated from the 20 Kansai region firms, and how does this impact the overall capital structure and risk distribution for the MGM-Orix consortium?"},{"label":"Regulatory Approval Timeline","query":"What are the critical milestones and potential regulatory hurdles that could impact the April 2022 national government submission and the projected 2028-2030 launch timeline for Osaka's IR?"}],"footnotes":""},"categories":[28,16338,158],"tags":[23632,16615],"class_list":["post-22557","post","type-post","status-publish","format-standard","hentry","category-casino-news","category-east-asia-news","category-slider-home","tag-integrated-resorts","tag-mgm-resorts"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/22557","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/users\/176"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=22557"}],"version-history":[{"count":3,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/22557\/revisions"}],"predecessor-version":[{"id":22572,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/22557\/revisions\/22572"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=22557"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=22557"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=22557"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}