Tokyo’s office vacancies rose in May to the highest level in two years as companies consolidate work space amid declining profits, the government said Thursday, noting the pace of the downturn is the sharpest in six years.
The Tokyo office vacancy rate rose for the fourth month in a row, increasing to 3.29 percent in May from 3.03 percent in April, real estate brokerage Miki Shoji Co. said in a report released through the Ministry of Land, Infrastructure, Transport and Tourism.
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