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Business deals

Developer Mitsui Fudosan to acquire Tokyo Dome for $1bn

Ballpark operator's management faces pressure from major shareholder

Tokyo Dome posted a net loss in the fiscal first half as canceled events battered its bottom line. (Photo by Akira Kodaka)

TOKYO -- Japanese property developer Mitsui Fudosan will acquire Tokyo Dome -- the home stadium of the Yomiuri Giants pro baseball team -- with Japanese media company Yomiuri Shimbun Group, for 120 billion yen ($1.15 billion).

The two companies will operate Tokyo Dome and its surrounding facilities to develop new amusement facilities to be known as the "Ball Park." The two parties will leverage their expertise in attracting and redeveloping tenants.

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