Kiraku buys HJ Asset Management and renames it Kiraku Asset Management

Kiraku Inc. has acquired HJ Asset Management K.K. and renamed it Kiraku Asset Management Inc., effective Sept. 1, 2026. The deal gives Kiraku a larger hospitality-focused asset management platform spanning investment, development, revitalization and operations across Japan.

Why it matters: - The acquisition gives Kiraku a fuller platform across the real estate investment lifecycle, from sourcing and development to operations and asset management. - The combined business is positioned to expand hospitality-focused investing and asset value creation in Japan, including regional assets and projects tied to local culture. - Existing assets under management, including hotels, offices and residential properties, stay in place under the new structure.

What happened: - Kiraku Inc. acquired all outstanding shares of HJ Asset Management K.K., making HJAM a wholly owned subsidiary. - HJAM changed its name to Kiraku Asset Management Inc. effective Sept. 1, 2026. - The acquisition was announced from Kyoto, Japan. - Kiraku said the move combines HJAM’s asset management expertise with Kiraku’s investment, development and operating capabilities.

The details: - HJ Asset Management was established in 2013 and built a specialized real estate asset management platform with a primary focus on hotels. - HJAM also managed offices, residential properties and self-storage facilities. - The firm handled assets for institutional investors and overseas family offices, among other qualified investors. - HJAM has experience using structures such as GK-TK and TMK. - Kiraku has worked in Japan on investment, development, revitalization and business operations across real estate and regional assets. - Kiraku’s initiatives include the luxury hot spring ryokan brand Atona, developed through a joint venture with an affiliate of Hyatt Hotels Corporation. - Kiraku has also worked on revitalizing historic sake breweries and developing lodging and food and beverage businesses. - Kiraku Asset Management Inc. will continue managing HJAM’s existing portfolio while broadening its asset base and strategy. - The company plans to pursue new value-creation projects through development and revitalization, plus hospitality and regional investment opportunities across Japan. - The renamed company will keep the same management team, employee structure, contractual relationships and business operations. - Kiraku Asset Management Inc. is based at 12F NOIR AKASAKA BLDG, 2-11-2 Akasaka, Minato-ku, Tokyo. - The company was established July 10, 2013 and has capital of JPY 70 million. - Scott Chung is representative director. - Business lines include investment management, investment advisory and agency services, Type II financial instruments business, comprehensive real estate investment advisory, real estate brokerage and real estate specified joint venture business. - The firm has 9 employees and is a member of the Investment Management Association of Japan and the Type II Financial Instruments Firms Association. - The company website is Kiraku Asset Management.

Between the lines: - The deal appears aimed at pairing HJAM’s investor network and asset management track record with Kiraku’s development and operating expertise. - That mix could help Kiraku push beyond traditional asset management into more hands-on value creation in hospitality and regional real estate. - Keeping the organization intact suggests continuity for existing clients while the firm expands its strategy.

What's next: - Kiraku says it will strengthen an integrated platform covering the full investment lifecycle. - The company expects that platform to widen investment opportunities for domestic and international investors. - Kiraku also plans to enhance asset value over the medium to long term.

The bottom line: - Kiraku is turning HJ Asset Management into a broader real estate platform with a stronger focus on hospitality, development and regional value creation.