Japanese billionaire bets $202m on China

Billionaire Akira Mori, the owner of Japan's most profitable closely held developer, said he has formed a company to invest in China and advised Japanese companies on expanding there.

"Japan's environment is getting difficult. I want to build a company that is willing to take risks," said 76-year-old Mori, in an interview in Tokyo. Mori said he plans to expand the assets of MA Platform Group, set up with 16 billion yen ($202 million) of capital, to 50 billion yen in five years. MA Platform has invested 18 billion yen including financing so far.

Mori seeks to invest in educational services and media in China, he said. The company became the second-largest shareholder in Beijing-based Tsingda eEdu Corp, which offers classes over the Internet.

Agencies - China Daily