Goldman Sachs has bought the Tokyo flagship store of high-class jeweller Tiffany & Co after bidding around ¥37bn (£160m). Daily Telegraph

The jeweller bought the land and building in the exclusive Ginza shopping district for ¥16.5bn in 2003 and will continue to occupy the shop, leasing it back from the investment bank.

Goldman is said to be paying ¥180m/tsubo, a Japanese measurement equivalent to 3.3 sq m. The price is 78% higher than Yamano Music’s main store nearby, which set the highest official price of ¥100m/tsubo in January.