November 11, 2010: Board APPROVES CBI offer on Nagoya property!!!

November 11, 2010

Today we received the wonderful news that the Rietech Company Board of Directors has indeed APPROVED the sale of their Nagoya property to CBI Japan! The contract signing date will be in early December. We’ll update when we have the exact date. In the meanwhile they are responsible for having a measurement of the land and we’ll be doing more inspections on the building. Contracts are being prepared and funds are being readied.

Our team is thankful and relieved. We’ll exhale completely after the contract is signed – but we’ll remember this day for a long time.

So where can you focus prayer?

1) of course for final signing of the contract without problems
2) for the US Dollar to rebound against the Japanese Yen – yesterday there was a slight uptick which was encouraging. Hopeful for increased strengthening. Even at 82 yen we’re down nearly $200,000 since May on currency exchange alone
3) for God to raise up His people to contribute towards renovations for the building. Please spread the word to family and friends who might be willing to help invest towards the repairs and renovations on the new CBI ministry campus that the Lord has provided! (Click above on “How to Give”)

THANK YOU for faithfully standing with us in prayer!!! God is amazing!!! It’s hard to believe that we’re coming to the end of a one year journey!

on behalf of the CBI Japan team,

Michael

[6] Then he said to me, “This is the word of the LORD to Zerubbabel: Not by might, nor by power, but by my Spirit, says the LORD of hosts. [7] Who are you, O great mountain? Before Zerubbabel you shall become a plain. And he shall bring forward the top stone amid shouts of ‘Grace, grace to it!’”
[8] Then the word of the LORD came to me, saying, [9] “The hands of Zerubbabel have laid the foundation of this house; his hands shall also complete it. Then you will know that the LORD of hosts has sent me to you. [10] For whoever has despised the day of small things shall rejoice…”
(Zechariah 4:6-10 ESV)


November 4: Preliminary agreement on Nagoya property REACHED!!!

November 5, 2010

GREAT NEWS!!! The administrative committee of the company that owns the Nagoya property this morning in Tokyo accepted our offer of $1.2 million pending board approval on November 11th!!! This was the first of the two options that we offered – the one with the lower price but without any further responsibilities or guarantees from the company. This was our preferred option as well.

They came into the meeting and let us know that the central air-conditioning system, the boiler, and the water pipes are quite old and may need some repairs. They wanted to disclose this information which we appreciate. We’re contacting our building inspection company to get estimates on possible repairs. Then they said that they agree on our price and conditions! We were a bit concerned that they would raise the price on us which could have prevented us from purchasing the property.

Normally there would be no problems at all with board approval for decisions that the administrative committee has negotiated and proposed. The only x-factor is that the company recently merged with another company so there are some new board members. Though there will very likely be no problems at all we’re encouraging people to pray until the very very end. The company is also eager for us to finalize our payment to them by March 1st because of their need to add some value to their financial books before they close their fiscal year. This timing works out fine for us as it will first of all allow us the 2 months or so that we need to get government exemption from tax on this purchase and it gives us some flexibility on timing of exchanging our funds into yen.

THANK YOU for your prayers! It’s not over till it’s over – but today’s meeting was a great victory and hopefully the beginning of the end of this amazing drama that we’ve lived through by God’s grace!!!


October 27: Offer SUBMITTED!

October 27, 2010

Friends – thank you again for your continued prayers! Yesterday we submitted an offer on the property! It has two options for them – option A is a higher price with a 3 month period of time where they are responsible for newly found problems/repairs. Option B is a slightly lower offer price with no responsibility period.

The higher price is actually the same exact price we had negotiated and signed with the previous real estate development company that dropped out. Unfortunately that price is now $200,000 higher because of the rapid drop of the US dollar value versus the yen.

We hope to hear from them within 7-10 days. They are a medium-sized Japanese company which means that decisions take time. However there is a November 11th board meeting which will motivate some urgency Lord willing. Basically x number of days before the board meeting we have to negotiate the terms of the sale (Lord willing). After that is agreed upon they will submit their proposal to their board for a straight up yes/no vote on the deal.

We’ve had challenges with them not moving quickly on decisions. Please pray that they will address this all and that it will be in time for the Nov 11th board meeting.

We’ve done a lot of research on the offer on the property. We’ve also come up to the limits of our ability to afford the property. We’ve been in vigilant prayer. We’ve turned to the Lord with no hope but in Him. Our hope isn’t in this property – we know that if the Lord has other purposes He will make that clear and it will reflect His faithfulness and mercies.

But this continues to seem to us to be an exceptionally unique and amazingly strategic opportunity. We’ll update as anything new comes up. Thank you for standing with us in prayer!!!


October 14: Update on inspection, other emerging options….

October 15, 2010

Friends,

I (Michael) leave for Cape Town, South Africa tomorrow for Lausanne III. You can learn more here (lausanne.org). I’d appreciate your prayers!

Before I go I’d like to give a quick update. First of all THANK YOU for the hundreds of you who are praying for us daily! It’s been an encouraging last 22 days!

Overall things have progressed and also become more complicated.

1) This Monday the 18th a building inspection on the Nagoya building will be performed. Then on Friday the 22nd we will receive that report and decide on an offer for the following week. It would take about 7 days for a response on our offer.

2) We have been getting advice on various issues regarding zoning on the building. It’s been quite complicated and there may need to be something similar to a rezoning requirement for us to use the building for particular uses. If so it COULD require quite an expensive ($175,000) reinforcing of the building structure. It is possible though that we can reduce our offer on the building by that amount (which we will learn after the building inspection report). Please pray for God’s wisdom and favor about this all.

3) Another two options on properties have emerged. One option in particular is intriguing. The location is not as good – about a 7 minute walk from the Shin-Sakae station and further from the popular Sakae area. But the building space is 20% larger (1000 square meters) and the building is newer (thus not needing any reinforcing and very little repairs). Also there would be no zoning issues. But it is likely more expensive. Pray for wisdom and clarity on whether to seriously consider this option!

4) Continued SERIOUS concerns with the US dollar/JPN yen exchange. We hit below 81 yen this week – unbelievable. Our budget in 2004 was pegged at 120 yen per dollar. Then in 2007 at 110 yen per dollar. Pray for God’s mercy, favor, and intervention if He so chooses! We may see many missionaries having to leave Japan temporarily or for good.

So it appears that there will not be completion by Oct 22nd the end of our 30 days of prayer. If you are willing/able to continue for another season of concerted prayer we would be incredibly thankful….

On behalf of the CBI team,

Michael


CALL FOR 30 DAYS OF PRAYER!!!

September 20, 2010

Brothers and sisters in Christ – welcome from the CBI Japan leadership and family! Thank you for taking the time to visit our site and learn about our ministry in the largest unreached nation of the world. We are urgently in need of prayer and we hope that you will join us by taking a few moments each day to intercede on our behalf and on behalf of Japan. The video below tells about our story, our situation, and how you can join us in prayer.

Also if you will be joining us in prayer and are on facebook – would you take a moment to let us know on our facebook group “30 days of prayer for CBI Japan”? Here’s the link:

http://www.facebook.com/home.php#!/group.php?gid=159109267449211

Please spread the word about our prayer campaign on twitter, facebook, and beyond!!!


September 20, 2010: SETBACK… need for your prayers

September 20, 2010

Friends, last Thursday we received unexpected and discouraging news. The owners of the building apparently received a few inquiries about the property that led them to believe they were asking too little from the real estate development company. The result is that the sale was NOT finalized and the development company has withdrawn from the process realizing that they can not make a profit.

All is not lost, however. Our situation is that we are now in direct contact with the company to attempt to purchase from them. It is very likely that we will have to pay more. The question is how much more. We do not know how serious the other inquiries are. It is possible that it is a bit of a bluff, but we don’t know for sure.

Our plan of action is to arrange a building inspection asap. The results tend to take some time (possibly 5-7 days). After that we will make an offer incorporating the findings from the inspection.

Our concerns:

1) how serious are other possible suitors?
2) what price point is needed to purchase the property?
3) do we have enough money especially considering a higher price and also the losses from currency exchange

Please pray for us. I confess being quite discouraged when hearing the news. But we have not lost hope. We have faced setbacks and uncertainties throughout this journey, and God has been faithful and merciful. We will not doubt Him. And it is entirely possible that God has another plan than this property. But we will seek to do all in our power and in petition to Him to get this particular property.

So we feel the conviction to redouble our efforts in prayer. Thank you for your patience through this all. Would you please continue to persevere with us in prayer?

I will write again and will share a video about our situation. The purpose of the video is to give a more personal thank you to everyone, but it is also intended as a way to be able for you all to enlist the prayers of your network of friends. We need prayer. Would you help us towards that end?

We’ll be calling our friends and the broader church of Christ to bless us with up to 30 days of prayer. Lord willing we will have some resolution during that time. Again, thank you for the love, patience, grace, generosity, and kindness that you have shown to us. We are eternally grateful. And we humbly as for even more….


September 13, 2010: Prayer for Important Meeting on 14th/15th / Update on Losses

September 13, 2010

Friends – thank you for your incredible patience as we travel on this journey together. As many journeys, it’s taken longer than we expected, but there have also been many unexpected blessings along the road as well as many wonderful new friends we’ve made along the way. Last week we heard that the company’s board did NOT finalize the issue of the sale of the building in their August meeting as we were hoping. So we were told that we would have to wait until their September board meeting at the end of this month.

However I just received an email that there will be a meeting in Japan on the 15th (not sure what time but likely it is late in the evening of the 14th in America) at the Tokyo headquarters to finalize the decision on the sale and if the sale is approved a decision on the timing of a sale. Our agent doubts that there is any hesitation to sell, but we must continue to press on in urgent prayer. We invite you to join us in fasting and prayer for this meeting and until the finalization of the initial sale between the company and the real estate development agency and the second sale between the agency and CBI. *** We will hear from our agent about the result of the Tokyo meeting on the 16th.

UPDATE on currency losses: the US dollar has continued to drop in value and has hit as low as 83.6. The translates into more than $130,000 in losses since May. We would appreciate your continued prayer for a dramatic increase in the exchange rate before the final payment is due possibly around early December.