U.S. Military Bases in Okinawa!
We Sell! We Buy!
1972 The United States dissolves its occupational government returning Okinawa to Japanese jurisdiction but retaining conditional rights to all U.S. military installations. The Japanese government then makes up new rental contracts for the land of U.S military bases in Okinawa. With these contracts, the Japanese government rents the property from the original landowners, lending it to the U.S. forces.1977 The Japanese government pays a total of 1,200 million Yen in compensatory bonuses to landowners for their involvement. Each year the government successively increases the rent it pays landowners.
1980s Local Okinawan banks start offering special loans to cooperating landowners.
Under this plan, the banks permit owners to borrow more than 25 times the rental cost with special low-interest rates. If a landowner declares bankruptcy, the government promises to buy back parcels of land, paying up to 50 million Yen tax-free.1988 The Japanese government pays a total of 1,200 million Yen in compensatory bonuses to landowners.
1992 1,400 million Yen is paid in compensatory bonuses to landowners.
While real estate prices continue to fall all over Japan, owning Okinawan "military ground" remains a highly lucrative investment.
Today,location : the Kadena airfield, Price : X 35
The proprietary right of the land is being sold for 35 times of the annual rent.Notes: Transactions of military land in Okinawa are completely different from regular transactions of real estate. The market price deals only with the ratio of the land's annual rent without concerning the conditions of the land or its extent, because the purpose of the buyers is only income from the rent. And the ratio remains higher where there is uncertainty of the land ever being returned by US forces.
This work has been shown at Kitakyushu Biennial'07, Takuji Kogo at MediaScope MoMA /The Museum of Modern Art New York 2007, Media City Seoul 2004 Seoul Museum of Art, Singapore Art Museum MAAP 2004, Akiyoshidai International Art Village Yamaguchi Japan.
Takuji Kogo
A CANDY FACTORY PROJECT 2005
*CANDY FACTORY PROJECTS