JAPAN REAL ESTATE: Miki Shoji data show Tokyo 5 central wards ofc vacancy rate at 2.07% in May, trending to lowest since 2019. Rents trending up as vacancies -> 1% with shortage of new supply. Mizuho u/g Mitsui Fudosan $8801 yday, laggard sector has priced in BoJ hike and fundamentals are good. $8802; $8830; $3289; $8804

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