We sit down for a chat with Nigel Beatty and Kenta Inaba, our expert team of yacht sales brokers at YACHTZOO TOKYO, to find out more about the yacht market in Japan and across Asia.
Nigel Beatty & Kenta Inaba of YACHTZOO TOKYO
We are seeing a lot of growth for the cruising and charter market further south in Asia. How do you see this progressing over the next three years, and how will Japan be affected? Do you foresee more yachts visiting Japan? We are seeing more and more large foreign yachts visiting Japan every year and Japanese owners are seeing them, too. There is an uptick in demand from Japanese owners for larger yachts.
What is the cruising like in Japan? Is there a good infrastructure, and what sort of experience can charterers expect? It is sub-tropical in the south of Japan – think weather like Florida and the Bahamas – with coral reefs and great all year-round cruising. While 2,000 nautical miles away in the north it is a humid continental climate with very cold winters but great cruising in the summer warmth.
In-between there are various climatic zones, but we have had guests skiing on one day and playing on the beach the next.
Japanese culture goes back 2,600 years and is very evident everywhere. The food is magnificent and arguably the best in the world. The modern infrastructure is better than first world; the country is immaculately clean and there is very little crime.
There has been yachting infrastructure in Japan for over 40 years. There are marinas that can berth large yachts along the length of the country, which is about 2,000 nautical miles from north to south.
Where is your favourite cruising ground in Japan, and also wider Asia? The Seto Naikai, or the Inland Sea of Japan. This waterway with three entrances to the ocean is 300 miles long with 3,000 islands. It offers incredible and beautiful, protected cruising.
Where are the best superyacht marinas in Japan? There are over 30 marinas in Japan that can receive superyachts. Some of the highlights include:
- Ashiya Marina near Kobe can take up to 60-metre yachts.
- Yokohama Bayside Marina can take up to 65-metre yachts.
- Osanbashi in Yokohama can take multiple yachts of any size.
- Marinoa Marina in Fukuoka can take up to 90-metre yachts
- Yonabru Marina in Okinawa can take up to 100-metre yachts alongside and 160 metres stern-to.
What are the regulations for chartering in Japan? Yacht chartering in Japan does not exist yet, so there are no regulations pertaining to yachts in this activity. This is something that we are working on with the Japanese government.
Are there any taxes or import issues that are worth highlighting for Japanese buyers looking to bring new or pre-owned yachts into Japan? If a Japanese buyer registers a yacht that he imports to Japan as a Japanese flag, then his import taxes and duties will be around 10 to 12 per cent, depending on various conditions. If a buyer registers a vessel as foreign flag and it visits/stays in Japan, there is no tax obligation.
Would you say it’s a buyer’s market or a seller’s market right now for yachts in Japan? For buyers, the market runs with the world market; as Japanese clients will often buy their yachts abroad. For sellers, it is more difficult in Japan to sell yachts, hence good deals can be made on existing yachts within Japan that are for sale.
Is there any kind of trend in the kinds of large yachts that Japanese clients are interested in buying? Or is this across the board depending on personal tastes? It depends purely on personal tastes. Some like brand names, while others like more custom yachts or will go for purely value.
Can you highlight some of the best deals for yachts available to buy in Japan currently? We currently have two Horizon 105.s that can be bought way below market value. One is from 2008 (refitted in 2014) and the other is a 2013; both are immaculate and constantly maintained. They are both ready for viewings and offers.
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