Overview
- Narita International Airport Corporation will let its land lease with Kyosei Bank expire at the end of November, affecting about 40% of the roughly 456,000-square-meter project area.
- NAA President Naoki Fujii said the company could not confirm the developer’s ability to carry out remaining earthworks and reached a comprehensive judgment that included funding considerations.
- NAA notified the developer on November 26 and received a reply that it would consider its response, and the airport operator said any new contract would be assessed based on future conditions.
- The 'Minna de Ooyasan Narita' investment product raised about ¥158 billion on a touted 7% yield, yet distributions have not been paid since July 31.
- Tokyo and Osaka authorities imposed partial business suspensions in June, 1,191 investors have sued in Osaka seeking roughly ¥11.4 billion in refunds, and Narita City now lists the project’s completion target as August 2027.