On Wed Sep 26 The Wall Street Journal ran an article titled: "Foreign Investors Take New Look at Tokyo" on page C10 by K. Narioka
The opening paragraph reads: "Hungry for yield and a haven from Europe's woes, foreign investors are returning to an asset they once shunned: Tokyo property. Investors from Singapore state-investment firm Temasek Holdings Pte Ltd to Goldman Sachs Group Inco are hoping Tokyo office rents, which have fallen for four years on the back of the global financial crisis, will rise as as vacancy levels drop"
Majia here: Notice that the article does NOT state that Temasek and Goldman are actually investing in these office spaces.
Instead, what the article provides as evidence for its claim about "returning to" is an assertion by Ian Hally Chief Executive of Asia Pacific real estate that "We are positive about the Tokyo market."
Majia here: No doubt Asia Pacific is positive because with their Tokyo based partner they already are invested in Tokyo real-estate, which they no doubt fear will drop precipitously with increasing levels of contamination from Fukushima (exacerbating Japan's existing economic woes).
In fact, the article provides NO evidence that large institutional investors are actually now investing in Tokyo beyond the one example: Aviva Investors partnership with Tokyo-based real-estate investor Secured Capital Investment Management Co..
The article does tell readers that the office vacancy rate in Tokyo was 9.2% in August, compared to 2.5% in Nov 2007.
It also tells us that Morgan Stanley "one of the most aggressive buyers of real estate in Japan in the last decade, has been selling some buildings. A person familiar with Morgan Stanley's investments said the bank has cut back in Japan."
The next line in the article asserts that foreign investors "are back." However, again, the only specific example of investors back investing in Tokyo is the single Aviva partnership with Tokyo-based Secured Capital Investment Management.
Careful reading of the text of this article provides no compelling evidence that "foreign investors take new look at Tokyo," as bellowed by the headline.
So, the careful reader will induce that this seemingly neutral article is, in fact, an ADVERTISEMENT promoting investment in Tokyo real-estate.
Now let us consider some headlines drawn from Enenews about rising radiation levels in Tokyo:
Japanese Veterinary Physician: Rate of deformed babies in Tokyo area will skyrocket from Fukushima
Mystery yellow substance on rooftop near Tokyo has cesium at 177,000 Bq/kg (VIDEO)
Japanese Researcher: They remind me of Godzilla (PHOTO) — 95% of worms die, survivors grow 10 times average size when raised on Tokyo soil contaminated with Fukushima radioactive material
I am very saddened for the people of Tokyo and Japan more generally.
However, those who seek to hide this tragedy so that they can regroup losses on Tokyo real estate are the worst kind of sociopaths and the Wall Street Journal has revealed its complicity in propagandistic efforts to deny the scale and significance of the Fukushima disaster.