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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