Tokyo, June 27 (Jiji Press)–Tokyo District Court has ordered tentative seizure of assets held by a failed Tokyo-based company that owns most of a southwestern Japan island regarded as a candidate U.S. military training site, it was learned Wednesday.
The order was issued as of June 15 following creditors’ bankruptcy filing with the court against the land developer, whose liabilities totaled 24,028 million yen at the end of October 2016, according to credit research firm Teikoku Databank Ltd.
The company, established in 1974, has struggled with swelling costs for maintaining the island of Mageshima in Kagoshima Prefecture, since it failed to reach an accord in talks with the Japanese government on the sale of its island ownership.
In 2011, the Defense Ministry chose the island, which the company acquired in 1978, as the place where the U.S. military’s takeoff and landing training for carrier-based aircraft would be relocated from the Pacific island of Iwojima, some 1,000 kilometers south of Tokyo.
The government will continue to work to build a permanent training facility for the U.S. forces on Mageshima, Chief Cabinet Secretary Yoshihide Suga told a press conference in Tokyo on Wednesday.