Foreign companies and individuals snapped up 158 hectares of Japanese forestland last year, according to a report released Friday by the Forestry Agency.
A combined 108 hectares was bought in Hokkaido in 10 deals, 44 hectares in Gunma Prefecture and 5 hectares in Okinawa through single transactions in each case, and 0.9 hectare in Kanagawa Prefecture in two purchases, the agency under the Agriculture, Forestry and Fisheries Ministry said.
The forestland in Hokkaido was acquired as asset holdings by individuals and corporations from Singapore, Hong Kong, the British Virgin Islands, the Cayman Islands and Greece.
In Kanagawa Prefecture, an overseas national and a company from Hong Kong bought forestland in the popular hot spring resort of Hakone, and intend to construct villas at the site.
The agency and the Land, Infrastructure, Transport and Tourism Ministry conducted a joint survey on the sale of forestland to overseas buyers amid mounting concern that foreign funds might seek to recklessly develop precious water resources at the locations.
In March, Hokkaido became the first prefecture in the country to enact an ordinance requiring land owners to file reports with local governments prior to selling such land.