Morgan Stanley has bought a 3%, worth about $1.4bn, in Mitsubishi Estate. Financial Times

Mitsubishi is Japan’s second-largest real estate group and owns prime assets in Tokyo’s Marunouchi business district, including the most prestigious addresses in Tokyo - the properties surrounding the Tokyo Central station and the Imperial Palace.

Marunouchi has been earmarked by financial services minister Yuji Yamamoto as a candidate to become Tokyo’s version of Canary Wharf, capable of competing with London and New York.