Investors in the real-estate fund Minna de Ooya-san, which raised more than 200 billion yen while promising annual returns of around 7%, are facing deepening uncertainty as Narita International Airport Company moves to end its lease of development land near the airport at the end of this month, adding further strain to a project already mired in delays and halted distributions. (News On Japan)

Tokyo announced on November 26th that it will overhaul its lodging tax system by replacing the current fixed-rate structure with a uniform tax equivalent to 3% of accommodation fees, a move intended to respond to sharply rising hotel prices. (News On Japan)