Tokyo Property Poised to Rebound, Chuo Mitsui Says (Update1)

“Foreign buyers are showing a lot of interest in acquiring Japanese property,” said Tanabe, 63, who has led Japan’s sixth- largest listed bank by assets for three years. “We are seeing more deals as prices bottom out, and investors think that it’s time to buy.”

Chuo Mitsui, which specializes in asset management and real estate, is forecasting a return to profit this year as credit markets thaw and demand for property-related services increases, Tanabe said in an interview in his Tokyo office yesterday. The company posted a loss of 92 billion yen ($955 million) in the fiscal year ended March 31.