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Companies

Japan's Mitsui O.S.K. to invest $2.9bn in real estate business

Shipping company aiming to shrink volatile sea transportation segment

The shipping business has been volatile for Mitsui O.S.K., which wants to focus more on real estate going forward.(Photo by Takaki Kashiwabara)

OSAKA -- Japan's Mitsui O.S.K. Lines will invest 400 billion yen ($2.9 billion) in its real estate business over five years starting 2023, Nikkei has learned.

Led by Daibiru Corp., its wholly owned subsidiary since April, MOL will enter the U.S. market and also expand its presence in countries such as Vietnam and Australia, although the bulk of its investments will be in Japan.

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