Published on January 31, 2020.
This article discusses a dialogue in Shukan Shincho between Sato Masaru and Yoshida Junichi, president of Mitsubishi Estate, focusing on Japan’s system of absolute property rights, land purchases by foreigners, the possibility of control by the Chinese government, and the need for rules restricting land use in emergencies.

2020-01-31
In it, there was a passage in which the president of one of Japan’s leading real estate companies pointed out a concern that I myself had mentioned before: the strangeness and danger of Japan.
The following is from the serialized dialogue titled “Summit Confrontation: How Can We Survive?” written by Sato Masaru in Shukan Shincho, which went on sale yesterday.
This week’s dialogue partner is Yoshida Junichi, president of Mitsubishi Estate Co., Ltd.
In it, there was a passage in which the president of one of Japan’s leading real estate companies pointed out a concern that I myself had mentioned before: the strangeness and danger of Japan.
The introductory passage is omitted.
Problems in Japan’s Land System
Yoshida:
There is one thing that worries me.
In Japan, land is protected by an absolute right of ownership that strongly safeguards the rights of the owner, is it not?
Sato:
It is far stronger than in other countries.
Yoshida:
Twenty to thirty percent of luxury condominiums in Tokyo are bought and owned by Chinese people.
Forests in Hokkaido and elsewhere are also being purchased.
As you know, in China, the Chinese Communist Party stands above the Constitution.
That means it can easily seize the property of Chinese citizens.
Sato:
That is exactly right.
Yoshida:
If that is the case, various kinds of Japanese real estate, protected by strong ownership rights, could become intelligence bases and could be freely controlled by the Chinese government.
I think that is an extremely serious problem.
That is why, in emergencies and similar situations, some kind of brake may be necessary, such as restricting land-use rights.
Sato:
You are absolutely right.
In Japan, even the Constitution does not assume the possibility of a national emergency.
Conversely, it also does not define the procedures and human rights that must be protected even in any emergency.
This too is a problem.
In this age of globalization, not only China, but also the United States and Russia may openly assert their national interests.
Therefore, it is important to establish a legal system for emergencies, including land issues.
Yoshida:
We are also engaged in various businesses in Southeast Asia.
However, there are various restrictions there, such as regulations on foreign capital and cases where foreigners cannot hold ownership rights.
In Japan, while absolute ownership rights exist, anyone can freely buy land.
Sato:
Every country carefully considers the special characteristic that land is scarce.
Yoshida:
As Japan moves through this society of population decline, if it wants to further revitalize consumption and economic activity, it has no choice but to keep increasing inbound visitors.
It must properly create a system for accepting them, including a certain degree of regulation.
There are limits to what a single company can do, so I hope the state will take an active role in matters such as master plans for urban development and emergency rules for land use.