Goldman drives Japan golf bond

My Account
Logout

Create an Evening Standard Account

Use your social network

Save time by using your existing account to sign in to Evening Standard

We'll never share your information or post anything to your account without your permission

Welcome! Sign in here

Use your social network

Save time by using your existing account to sign in to Evening Standard

We'll never share your information or post anything to your account without your permission

Forgot your password ?

Registration

* indicates fields that are mandatory

Email *

Password *

Confirm Password *

First name *

Surname *

Postcode *

Country *

Mobile phone number

Username *

Gender *

Year of birth *

When you sign up...

You will have access to all our online competitions, discounted offers and can post comments on our site.

You will also receive The Weekender newsletter sent every Thursday - it’s full of fantastic offers and ideas for the weekend. You can update your email preferences in your account page when you log in.

Other newsletters and emails

Homes & Property Newsletter - Yes I want to receive the weekly email with all the latest news on property in the capital

Occasionally we would also like to send you relevant emails detailing specific offers either from ourselves or carefully selected partners. If you would prefer not to receive these then please tick the appropriate boxes below. We will never pass on your details.

I do not want to receive additional offers and information from the Evening Standard

I do not want to receive additional offers and information sent by Evening Standard on behalf of carefully selected partners

Terms and Conditions

* I have read, understood and agree to be bound by the terms and conditions of Evening Standard

Registration

Mail Sent for Registration Confirmation.

A confirmation email has been sent. Please activate your account by clicking on the activation link sent in your mail box.

The investment bank's Tokyo-based Accordia Golf plans to raise 40 billion yen (£188.5 million) by selling bonds to buy more courses.

Goldman, which owns 45% of Accordia, has spent more than 2 trillion yen since 1998 on assets in Japan including golf facilities and office buildings.

Overseas investors including Goldman and Lone Star Funds acquired hundreds of failing Japanese golf courses in the past decade after three recessions since 1991 left more than 700 of 2,400 clubs bankrupt. Goldman now owns 125 golf courses.

"We will closely watch bond flotation conditions to lower the costs," Accordia's investor relations manager Kenichiro Nose said. "We intend to use the money for large- size acquisitions."

Accordia expects revenue may rise 15% to 89 billion yen for the year to March, and profit to increase 7% to 10.2 billion yen for the year.