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.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.