LIFESTYLE PROPERTY BUSINESS

Overview

The Lifestyle Property Business handles assets excluding offices, residential properties, and hotels. Its activities center on the development and operation of retail properties and logistics facilities. The retail property portfolio spans three business formats: suburban shopping malls operated under the PREMIUM OUTLETS® brand, independent shopping centers such as MARK IS, and integrated urban facilities in the Marunouchi area. In our logistics facility business, we are continuing to expand our portfolio particularly under the Group’s Logicross brand while also undertaking joint developments with other companies.

Image: Business Concept

Revenue from Operations,Operating Income / Operating Income Ratio

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Competitive Advantages

Retail Properties

  • The top customer drawing power in Japan of the PREMIUM OUTLETS® shopping mall chain.
  • Information networks and tenant relationships built through wide-ranging Group businesses, including developments in the Marunouchi area.
  • Extensive development and management know-how gained through a portfolio consisting of three different business formats, business coverage in Japan stretching beyond Tokyo all the way from Hokkaido to Kyushu and a tenant network covering approximately 3,800 stores (as of the end of March 2019).

Image: Area Map of Main Retail Properties

Logistics Facilities

  • A business platform with a broad range of functions related to logistics facilities, from land acquisition and development to building operations, ownership, and asset management.
  • Tenant relationships and information networks through wide-ranging Group businesses, including developments in the Marunouchi area.
  • Management know-how and experience gained through Tokyo Ryutsu Center Inc. (TRC) and its competitiveness underpinned by being based in Heiwajima, a location providing excellent access to central Tokyo and Haneda Airport.

Image: Business Platform of Logistics Facilities

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Business Strategies

Retail Properties

  • With outlet shopping malls, we will continue to expand and refurbish existing facilities and develop new ones to offer visitors unique spaces and meet their needs for a fun, one-of-a-kind experience.
  • Regarding independent shopping centers, we are developing distinctive facilities tailored to diverse demand based on detailed analyses of the location, local demand characteristics, tourism potential, and discussions with tenants.
  • With integrated urban facilities, we are aiming to deliver wide-ranging eating and drinking options and shops as well as various service providers to offer better amenities and convenience for office workers while also drawing in people for shopping and tourism.
  • We aim to capture inbound demand by taking various initiatives that give full play to the distinctive features of our facilities.

Logistics Facilities

  • We intend to make acquisitions of land and undertake leasing operations by making use of our multiple information networks and tenant relationships.
  • We aim to generate stable capital gains by leveraging our logistics business platform to sell developed properties to Mitsubishi Estate Logistic REIT Investment Corporation, which is managed by Mitsubishi Jisho Investment Advisors, Inc., and other parties.
  • We intend to generate synergies Groupwide by sharing the information networks and management knowhow acquired by the Tokyo Ryutsu Center, which has been involved in logistics facility business operations for over 50 years.
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TOPICS

Retail Properties

In November 2018, we opened MARK IS Fukuoka Momochi in Fukuoka City, Fukuoka Prefecture. Home to 163 stores, including new business formats and the first-ever locations in Fukuoka, MARK IS Fukuoka Momochi is the largest retail property for the MARK IS brand and the biggest MARK IS retail property within Fukuoka to the west of Tenjin. It also represents the Group’s first-ever complex development project combining a large-scale retail property with a housing complex. Meanwhile, construction of the WEST tower of The Parkhouse Fukuoka Towers—a housing complex featuring two towers consisting of 584 units—is scheduled for completion at the end of December 2019, while construction of the EAST tower is slated for completion at the end of December 2020. Through the project’s retail property and condominiums that leverage the Group’s collective strengths and know-how, we will contribute to enhancing the value of this area.

Picture: MARK IS Fukuoka Momochi

MARK IS Fukuoka Momochi

Logistic Facilities

In January 2019, we completed the construction of Logicross Nagoya Kasadera in Nagoya City, Aichi Prefecture. This multi-tenant logistics facility is conveniently located near major roads and highways and offers tremendous potential as a logistics base for deliveries not only within Nagoya City but also throughout the entire Chubu region. The facility comes equipped with ramps that allow vehicles to access storage areas on each floor and offers excellent versatility and functionality through the installation of LED lighting and other features throughout the building. Logicross Nagoya Kasadera also provides support to the region in the form of business continuity planning (BCP) with its designation as an emergency evacuation building in the case of a large tsunami.

In May 2019, we completed the construction of LOGIPORT Kawasaki Bay, a multi-tenant logistics facility, jointly developed with LaSalle Investment Management K.K. and NIPPO Corporation. One of the largest logistics facilities in Japan, LOGIPORT Kawasaki Bay offers exceptional access to Tokyo and Yokohama, and this access is expected to further improve with the construction of the Rinko Road Higashi Ogishima Mizue-cho Line scheduled to be completed in fiscal 2024.

Picture: Logicross Nagoya Kasadera

Logicross Nagoya Kasadera

CORPORATE INFORMATION

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