JAPANESE investors. once accused of trying to buy, America, are reversing direction and divesting their US holdings at an accelerating rate, a study released today said.

The study. compiled by Los Angeles-based E&Y Kenneth Leventhal Real Estate Group, said Japanese divestments of U.S. properties nearly trippled in the last two years to £8.9 billion (£5.6 billion) as substantial economic pressures at home have forced them to sell assets cheaply.