A radical rethink of work culture that threatens to push Tokyo office vacancy rates to new heights has the largest Japanese shared workspace provider preparing for an opportunity.
The coronavirus outbreak caused a drop in TKP Corp.’s revenue, but while its shares are still down 43 percent for the year, they have jumped 165 percent from their March trough as investors look for a rebound.
Takateru Kawano, TKP’s founder and chief executive, envisions transformation of the market over the next few years. He said the firm has seen new sources of demand emerge as companies implement business continuity plans and hold more webinars amid social distancing concerns.