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Strategies & Market Trends : Booms, Busts, and Recoveries -- Ignore unavailable to you. Want to Upgrade?

To: rz who wrote (58171)	1/4/2005 2:17:10 AM
From: Taikun	Read Replies (1) \| Respond to of 74559

rz, Do Daiwa House and Sekusui House own land? I think they're just home builders, if that's what you want. There are some JREITs as well, but mgt fees tend to be high: Orix REIT would be worth a look. I think this might be the pink sheet. Shares in Japan are expensive though (they cater to institutions) finance.yahoo.com orixjreit.com Yield is about 5%. ESTIMATED DISTRIBUTION AMOUNT Estimated distribution amount for the sixth fiscal period from September 1, 2004 to February 28, 2005 is as follows: Forecasted (In millions of yen, except for estimated distribution amount per unit) Sixth Period Net income 2,282 Distribution amount 2,282 Distribution amount per unit ¥13,012 7 JREITs listed here, page 4 has a more complete list of players for you: ares.or.jp Is price to book still cheap at about 1.6x? marketwatch.com marketwatch.com marketwatch.com marketwatch.com Not sure what this is, could be a Japanese index: marketwatch.com I think you'll get a yield of 5% in Japan in a new, recently IPO'd JREIT. The upside is that it is Yen income. Match the tickers on the left of this page spc-reit.com to the tickers in this ares.or.jp and then on the right of this page spc-reit.com you get the yield. eg TSE 8951 (the Tokyo stock exchange ticker number) is 3.25% projected return. This one has the higher yield at 4.83% (TSE 8963) tgr-inv.co.jp and the quote: quote.yahoo.co.jp TSE 8958 (2nd best yield) Personally, with a friend we have been trying to buy an apartment building in Japan for over a year. You can get 9% on a relatively new building, so yields are not great and potential to increase rents is low. If Japan's business with China (both trade and investment) pan out, Japan will do well, but if a falling dollar nails the Yen, the stock market and the domestic economy, all bets are off. I think it bottomed in 2002 (I was buying the FJSCX, Fidelity Japan Small Companies Fund then) but I sold earlier this year to lock in profits. If Japan continues buying US Treasuries, I am not sure about the direction of the Yen, and while long-term it should appreciate (my big currency holdings are CDN, YEN, SGD) medium term it may lag. Long term I expect a Yen at 100 to the dollar or stronger (maybe 50) D