Polaris to Acquire a 30% Stake in Myland

Polaris Capital Group will acquire a 30% stake in Myland Real Estate Co. by investing in slightly over JPY 2 billion (USD 25 million) through a private placement. Myland buys existing homes, renovates and sells them to first-time home buyers. It has agencies in 46 of Japan's 47 prefectures and takes in about JPY 30 billion (USD 375 million) in annual sales. According to the Nikkei report, Myland aims to go public in a few years working with Polaris. Myland is the 3rd investment for Polaris in the past 12 months, while it sold the holdings in 3 other portfolio companies during the same period.