Group noted that the acquisition plan aims to strengthen the group's real estate investment and leasing business and reduce its concentrated risks in China.

Yamada Green Resources made the above announcement through the Singapore Exchange on Friday (July 18). The company is from Fujian Province, China. It has previously been engaged in mushroom cultivation and food processing, but has terminated its food processing business since last year.

Yamada Green Resources, listed on the Singapore Exchange main board, bought a four-storey building in Sakai City, Osaka, Japan for 137 million yen (about 1.18 million SGD), further expanding the group's real estate leasing business in Japan.

Group revealed that the existing lease for the newly acquired building brings 8.84 million yen in rent per year. It expects the acquisition to make a positive contribution to the group's financial performance from August this year.

In September last year, the group established a wholly-owned subsidiary in Japan to explore local real estate leasing and food-related business opportunities. In May this year, it also announced the acquisition of another piece of land and a building in Osaka.