Asking price for Ginza building housing Tiffany’s largest Asian boutique reportedly cut by a third

The Japan Times, carrying Bloomberg reporting, says Kurosawa Group struggled to find buyers for the Ginza building at ¥120 billion and is now open to offers as low as ¥80 billion, according to people familiar with the matter. Those people say Tiffany’s 25-year fixed-rent lease has deterred buyers amid inflation. Kurosawa may still decide not to sell.