Joint Venture Announced: One of Japan’s largest...

Joint Venture Announced: One of Japan’s largest steel companies has joined forces with Leisure Technology of Chicago in a $71-million joint venture to develop retirement communities in the United States. Nisshin International France, a wholly owned subsidiary of Nisshin Steel, and its U.S. partner estimated that the total development costs for their proposed 44 full-service retirement communities will exceed $1 billion. The proposed sites include Oceanside, Calif.; the Chicago suburbs of Wheeling and Homewood, Ill.; Ft. Myers, Fla., and Suffolk County, N.Y.