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Agriculture

Mitsubishi Estate digs into smart greenhouse farming

Property developer aims for year-round vegetable supplies in tie-up with Japan grower

Mitsubishi Estate will expand its agriculture business beyond tomatoes. (Photo courtesy of the company)

TOKYO -- Mitsubishi Estate will make a full entry into agriculture through a capital partnership with a major domestic horticulture company, with an eye to taking technology-based farming abroad.

The Japanese real estate company is teaming up with Okayama Prefecture-based Sara, a specialist in cutting-edge greenhouse facilities. Mitsubishi Estate aims to generate annual sales of about 30 billion yen ($280 million) from this undertaking in 10 years as it anticipates growth in efficient greenhouse farming. The size of the capital stake was not disclosed.

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