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Japan’s ski and mountain resorts account for an unusually large share of the country’s fastest-rising residential land in 2026, according to the Ministry of Land, Infrastructure, Transport and Tourism’s (MLIT) Prefectural Land Price Survey. Photo by Jeremy Bishop on Unsplash Five of Japan’s 10 fastest-rising residential benchmarks were in four resort markets: Furano, Hakuba, Nozawa Onsen and Myoko. Their increases were many times the 1.0% year-on-year (YoY) rise in Japan’s na

Patience Capital Group (PCG) is adding Madarao Mountain Resort to the Ikon Pass for the 2026-27 winter season, bringing a second resort in its Madarao-Myoko portfolio onto the international multi-resort network in consecutive seasons. Madarao Mountain Resort in winter; courtesy of Patience Capital Group. PCG has also been expanding international hotel infrastructure across Madarao and Myoko, making the latest Ikon Pass addition part of a broader regional tourism strategy rath

Tower Semiconductor is preparing a major expansion of its Japanese manufacturing operations, including the return of semiconductor production to its Arai facility in Myoko, Niigata Prefecture. The project will increase capacity for advanced semiconductors used in AI data centres, high-speed communications and next-generation optical connectivity. Japan’s Ministry of Economy, Trade and Industry certified the company’s supply assurance plan on July 14th. METI estimates total pr

Myoko is set to join the global trail running circuit in 2026, as Patience Capital Group moves to position the Niigata mountain resort area as a year-round outdoor sports destination. Singapore-based Patience Capital Group announced on May 20th that Myoko City will host MYOKO TRAIL, race number 6 in the GOLDEN TRAIL WORLD SERIES, on September 19th and 20th, 2026. The event will be held at Myoko Suginohara Ski Resort, with courses set against views of Mount Myoko and Lake Noji

Singapore-based investment manager Patience Capital Group (PCG) has completed a strategic investment in Keikyu Store, a long-established supermarket operator serving communities along the Keikyu railway corridor. Premium Keikyu Store brand Motomachi Union in Nishi Shinjuku. Photo by Adam German. The investment was made through a private equity fund advised by PCG and marks a partnership aimed at strengthening Keikyu Store’s competitive position as Japan’s retail sector evolv

Singapore-based investment manager Patience Capital Group (PCG) has assumed operational control of the luxury InterContinental Yokohama Pier 8, marking a new chapter for one of Yokohama’s most distinctive waterfront hotels. The transition was completed together with Nomura Real Estate Asset Management, with support from Yokohama Grand InterContinental Hotel, and the hotel officially began operating under its new management structure on April 1, 2026. At the same time, hospita

On March 17th, local newspaper the Niigata-Nippo published that Japan’s Ministry of Land, Infrastructure, Transport and Tourism (MLIT) released its 2026 official land price data, revealing a widening gap between Niigata prefecture’s broader market and its emerging resort hotspots. Photo by Hamish Duncan on Unsplash Akakura in Myoko City recorded a 7.1% year-on-year increase in commercial land prices, the highest in the prefecture and the first time it has ranked number one

Foreign-led development in the Myoko area of Niigata Prefecture is drawing renewed investment from Japanese companies, signaling a shift in momentum for the once-stagnant ski destination. New lodging facilities are opening while major domestic developers have begun conducting market research. After Japan’s ski boom faded, development by Japanese firms slowed for decades, but rising inbound tourism and foreign investment are beginning to reshape the market. A major catalyst ha

Originally held in October 2025 and delivered in Japanese, the below is an English summary of Ken Chan’s remarks at the RE Fund Review Forum 20th . The speech highlighted how resort hotel investments can extend beyond accommodation supply to actively shape tourism demand. Click here to read more about IHG and Patience Capital Group’s Six Senses Myoko project. By combining global branding, development activity, and operational scale, resort hotels can generate wider economic b

Tokyu Plaza Ginza was renamed GinzaNovo on December 1, 2025. To mark the rebranding and the facility’s first Christmas under the new name, a seasonal event titled “Kaleidoscope of Joy: GinzaNovo × Ribbonesia” will be held. GinzaNovo, formerly Tokyu Plaza Ginza, updated exterior CG rendering courtesy of press release linked at the bottom of this article. According to the press release linked at the bottom of this article, the name GinzaNovo incorporates the Latin term Novo, me

Shinano Railway will add three temporary rapid trains per day in each direction on its Kita-Shinano Line during January and February 2026, increasing rail capacity between Nagano and the Myoko Kogen area during the winter season. The railway announced on November 25th that the additional services will operate daily from January 1st through February 28th, 2026. Shinano Railway’s published timetable shows the first rapid service leaving Nagano at 9:09 a.m. and arriving at Myoko

On October 23 rd , Patience Capital Group announced the signing of two new properties in Japan - Madarao Kogen Hotel and Lime Resort Myoko - which will join Accor’s MGallery Collection, the group’s boutique brand of storied hotels. These signings mark a major step in Patience Capital Group’s vision to elevate Japan’s mountain regions into world-class four-season destinations. Signing ceremony in Singapore on October 23rd. From left to right: Maryanne Soo, Managing Director, G

On October 22 nd , Patience Capital Group (“PCG”) announced that its Myoko Suginohara Ski Resort in Niigata Prefecture will join the Ikon Pass; a global multi-resort season pass connecting the world’s leading ski destinations, starting from the 2025-26 winter season. Expanding Ikon Pass’s Global Reach in Asia The Ikon Pass, operated by Denver-based Alterra Mountain Company, is the premier international season pass for winter sports enthusiasts, offering access to more than 70

On October 21st, Six Senses, part of IHG Hotels & Resorts’ Luxury & Lifestyle portfolio, announced the signing of a hotel management agreement with Patience Capital Group (PCG) for a slope-side mountain hotel and residences at the foothills of Mount Myoko, within Japan’s scenic Suginohara ski resort. Artistic rendering of finished exterior courtesy of IHG & Patience Capital Group. Meant only for illustrative purposes and subject to change. The development of Six Senses Myoko

On October 16 th , Singapore based Patience Capital Group (PCG), announced the appointment three senior executives to strengthen its leadership team. The move reflects PCG’s strategy to expand its investment reach, enhance operations, and create long-term portfolio value. New Leadership Appointments Andy Lee – Chief Asset Management Officer Brings 27 years of experience in real estate investment management across Asia and Europe. Formerly at GIC and Pontiac Land Group, he no

Singapore-based investment fund Patience Capital Group (PCG) is spearheading a major international resort development in the Myoko Kogen area of Niigata Prefecture, with the aim of creating a sustainable, all-season mountain destination. At a multi-stakeholder public-private council convened on July 15, PCG presented its phased plan to open two hotels and commercial facilities by the winter of 2028, eventually expanding the development to six hotels. Multi-Phase Plan with Bra

Shinano Railway, headquartered in Ueda City, Nagano Prefecture, is considering launching a new express train service connecting Myoko Kogen and Karuizawa. President Tomonori Tsuchiya revealed the plan in an interview with The Niigata Nippo published on June 28th. The proposed route aims to boost ridership by shortening travel times between two key tourist destinations ahead of a major resort development in the Myoko Kogen area. Targeting 2028 Resort Launch Currently, Shinano

Niigata Prefecture will establish a public-private consultative council in July to oversee a large-scale resort development by Singapore-based Patience Capital Group (PCG) in the Myoko Kogen area. The council will include PCG and Myoko City officials, as city leaders plan a separate body to address residents' concerns. Myoko City Mayor Yoji Kido at press conference on June 5th, 2025. Photo courtesy of Joetsu Myoko Town Jouhou. Myoko City Mayor Kido, while expressing antici

Ken Chan, founder of Patience Capital Group, is betting big on Japan’s tourism revival - starting with the ski towns of Myoko and...

Myoko Kogen, one of Niigata’s premier tourist destinations, is undergoing a large-scale redevelopment spearheaded by a foreign investment firm, with total costs estimated at up to ¥200 billion. While the project is expected to revitalize the local economy, the optimism is infused with caution over potential land price inflation and rising living costs, reminiscent of the real estate boom seen in Niseko, Hokkaido. Surge in Visitors and Foreign Investment In February, the peak