Polaris to Invest 1 Billion Yen in Hotel Project in Chiba, Japan

MT Newswires Live03-11

Polaris (TYO:3010) has approved a 1 billion yen silent partner investment in a special purpose company acquiring trust beneficiary rights to a hotel property in Chiba City, Japan.

The hotel is scheduled to commence operations in June and will be leased by Polaris, marking the company's third joint investment project with its parent, the Star Asia Group, according to its Tokyo bourse filing on Wednesday.

The investment is expected to generate earnings through lease profits, distributions from hotel operations, and potential future capital gains from property sales.

The investment will not impact consolidated financial results for the current fiscal year as hotel operations begin in the next fiscal period.

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