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Business deals

Blackstone grabs $1bn in Japan warehouses, including Amazon site

US asset manager bets on e-commerce growth in lagging market

An Amazon Japan fulfillment center. (Photo courtesy of the company)

TOKYO -- U.S. investment firm Blackstone Group will spend over 100 billion yen ($926 million) to buy distribution centers in Japan, seeing room for growth in the country's relatively small e-commerce market, Nikkei has learned.

Blackstone is expected to buy five or six sites from Singaporean state-owned property investor Mapletree. One location in Odawara, a city southwest of Tokyo, serves as a key fulfillment center for Amazon Japan covering the greater Tokyo area.

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