Mizuho Bank Ltd. said Tuesday it plans to launch a ¥10 billion fund with a real estate developer and a trading company to build dormitories for international students studying in Japan.
The number of international students is expected to increase, with the government aiming to boost the figure to 300,000 from the current 200,000 by 2020. The projected increase makes dorms a stable investment, said Mizuho spokesman Ken Kobayashi.
Along with Mizuho, Tokyo Tatemono Co. and Marubeni Corp. will invest in the fund. Kobayashi said the window is open for parties interested in joining the project, adding that the fund will be launched around June.