JINUSHI Co., Ltd. (TSE: 3252) said its board approved selling three land parcels for a combined ¥11.39bn to MHC JINUSHI Fund GK, a vehicle formed this month with Mitsubishi HC Capital Realty as the sole investor. Mitsubishi HC Capital Realty is a wholly owned subsidiary of Mitsubishi HC Capital Inc..
The properties sit in Numazu (Shizuoka Prefecture), Tsu (Mie Prefecture) and Moriya (Ibaraki Prefecture).
| Property | Location | Site Area (sqm) |
|---|---|---|
| Property 1 | Numazu, Shizuoka Prefecture | 23,202 |
| Property 2 | Tsu, Mie Prefecture | 29,871 |
| Property 3 | Moriya, Ibaraki Prefecture | 39,460 |
Sale contracts close August 31, 2026. The Numazu and Tsu properties are due to change hands September 30; the Moriya parcel follows in late December, and both dates are still marked provisional in the filing.
MHC JINUSHI Fund GK was capitalized at just ¥100,000 and set up August 3, 2026, with the general incorporated association Village Twelve holding all of its equity as representative partner. JINUSHI says it has no capital or personnel ties to the buyer and that the transaction is not a related-party deal. The structure keeps JINUSHI in the loop after the sale: the company expects to take on sub-asset-manager and property-manager work for the buyer, earning fees on land it no longer owns.
The deal traces to a November 2025 agreement under which JINUSHI and Mitsubishi HC Capital Realty began exploring underlying land as a new portfolio category for the realty firm. The ¥11.39bn price clears the Tokyo Stock Exchange's timely-disclosure threshold because it equals at least 10% of JINUSHI's ¥76.33bn consolidated revenue for the year to December 2025. JINUSHI said the sale's effect on the year to December 2026 is already reflected in the ¥100bn revenue forecast it published in February, and it describes the new fund as a third sales channel alongside JINUSHI REIT and a ¥60bn bridge-purchase framework with leasing companies.