An unknown buyer agreed to acquire Harumi Front from Japan Real Estate Investment Corporation (TSE:8952) for ¥39.11 billion on November 15, 2022. This disposition will take place in three stages, with 25%, 30%, and 45% co-ownership to be disposed on each transfer date. Harumi Front reported a Total rent revenues of ¥1.14 billion on year ending September 2022.

The transaction is expected to complete on January 12, 2024. The cash proceeds from the disposition will be used for repayments of borrowings and retained as cash reserves for future acquisitions of specific assets, etc.