TOKYO -- Japanese railway companies are taking a rare opportunity to join hands for an overseas real estate project.
A consortium led by trading house Mitsubishi Corp. plans to invest about 10 billion yen ($95 million) in an urban development project in Indonesia. Consortium members Nishi-Nippon Railroad, Hanshin Electric Railway and Keikyu Corp. are seeking new revenue sources elsewhere in Asia as domestic opportunities are expected to decline amid Japan's shrinking and graying population.
