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Sharing Economy

Conference room lender to buy Regus' Japan office space business

Switzerland's IWG to sell local operations to TKP for $446m amid WeWork challenge

Conference room lender TKP is jumping into the shared workspace market by buying the Japan rights to IWG's Regus and other brands. (Photo by Kei Sekiguchi)

TOKYO -- Japan's leading provider of conference rooms is paying approximately 50 billion yen ($446 million) to jump into the shared office market, an intensely competitive industry now that venture capital companies like SoftBank Group are putting billions of dollars into startups like WeWork of the U.S.

TKP announced on Monday plans to acquire Switzerland-based IWG's workspace leasing business in Japan.

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