WeWork Competitor Sees Opportunity in Tokyo’s Shrinking Offices
- ‘Many companies’ will begin to reduce floor space: TKP CEO
- Kawano expects demand to surge in 2-3 years as leases expire
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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 opportunity.
The coronavirus outbreak caused a drop in TKP Corp.’s revenue, but while its shares are still down 40% for the year they have rebounded about 180% from their March trough as investors look for a rebound. The stock rose 5.6% Wednesday, capping a three-day gain of 19%.