In the wake of the March 11 twin disasters, businesses in Tokyo, including foreign companies, fled the metropolis out of fear of radiation escaping the Fukushima No. 1 nuclear power plant, boosting the high-end office rental business in Nagoya.
The trend subsided in mid-May, but the sector appears likely to flourish again in August and beyond as more companies look at diversifying the risk of another disaster.
"After the quake, companies have taken serious measures to diversify risks," said Yoko Shinobu, manager of Servcorp, an Australia-based office rental company that holds a long-term lease contract for 600 sq. meters on the top floor of the luxurious Nagoya Lucent Tower. "Although the number is still small, those companies are hoping to secure a backup office in Nagoya, and may be starting off at rental offices."