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Japanese overseas property investment jumps 60%

January-September figure on track for 21st-century record as firms hunt for yields

TOKYO -- Japanese businesses and investors sank $2.12 billion into overseas real estate in the January-September period, 60% more than in the same span last year, with an eye toward securing higher returns.

The amount, reported Tuesday by a Japanese unit of global real estate services giant Jones Lang LaSalle, already exceeds the full-year tally of $2.03 billion for 2016. At the current pace, total Japanese investment in overseas real estate will top the $2.42 billion in 2006, the standing record for this century.

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