Minato Obtains License under the Act on Specified Joint Real Estate Ventures
Please be informed that Minato Management Co., Ltd. (headquartered in 1-1-12 Toranomon, Minato-ku, Tokyo, Japan; President (CEO), Tatsuto “Tad” Kuramoto) has obtained a license under the Act on Specified Joint Real Estate Ventures.
This license obtained under the Act on Specified Joint Real Estate Ventures allows the company to form funds that invest in real estate. Specifically, the company will establish a company (special purpose company: SPC) that owns real estate and conducts business transactions related to that real estate.
The SPC owning real estate will solicit investors. In this scheme, because the SPC, not the company (Minato Management), owns real estate, even if the company becomes unable to continue its business operation due to bankruptcy or any other reason, the SPC will not be affected by the claims of creditors and other stakeholders of the company, in principle, and thereby the investors’ assets will be protected. The company has built up a track record in real estate business, including acquisition and development of real estate properties, and is looking to make the formation and management of funds utilizing the Act on Specified Joint Real Estate Ventures a key pillar of its future business.
Going forward, taking advantage of its accumulated experience, the company will develop real estate projects involving various sizes and types of properties without being concerned with so-called prime location or large-scale properties, with the ultimate goal of building an economic circulation system that contributes to the community through fund formation.