Kasumigaseki Capital Co., Ltd. (TSE: 3498) has agreed to sell the development site meant to launch its US business, pricing the deal high enough to matter to shareholders. The company's board approved the sale on August 26, 2026, and its Florida subsidiary, KASUMIGASEKI FLORIDA LLC, signed a purchase agreement the same day for land at 155 NE 10th St in Miami, inside the Miami Worldcenter development.
The number that's public, and the ones that aren't
Neither the buyer's identity nor the sale price is disclosed. Kasumigaseki cited a confidentiality agreement between the buyer and its Florida subsidiary. What the company will confirm is that the price equals or exceeds 10% of its consolidated revenue for the fiscal year that ended in August 2025. Kasumigaseki said the buying fund is capitalized by multiple Japanese investors and expects debt financing from a domestic megabank, and that neither it nor its subsidiary has any capital, personnel, or related-party ties to the purchaser.
What was actually being sold
The roughly 5,700 square-metre site, provisionally called the Miami BLOCK C EAST Project, was intended for a hotel-and-residence complex within Miami Worldcenter, near the Brickell financial district and South Beach. Settlement is scheduled for August 27, 2026, US time, and the sale is already built into Kasumigaseki's earnings forecast for the year to August 2026; revenue will be booked once the deal closes.
Who runs the US operation now
Kasumigaseki entered the US market as an extension of its domestic hotel business, where it develops and operates hotels aimed at large-group travelers. The director and senior executive officer who previously led Kasumigaseki's hotel business, and who joined the company in 2020 after residential-development work at a major Japanese developer before joining the board in 2025, is running the US operation on the ground. Kasumigaseki describes its US ambition as acting as a conduit connecting Japanese investors and lenders to the American property market, and it frames this land sale as the first proof of that model.
What's missing from the disclosure is the figure that would let outside analysts check the math: the actual sale price. Investors get only the floor, a purchase agreement dated August 26, and a settlement date the following day.