Yamada Green Resources (SGX:BJV) agreed to acquire a four-story building and the land on which it is built in Osaka, Japan, according to a Friday filing with the Singapore Exchange.
Shares of the company plunged nearly 9% in recent trading.
The acquisition is part of the group's strategy to expand its property rental business in Japan and will help diversify its property investment and rental segment.
The land has a total area of 127.2 square meters, with units in the building currently tenanted. The rental under the current tenancies amounts to 8.84 million yen per annum.
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