Shopping Center Renovation and Integrated Operation and Management

「At 東神開発株式会社, a renovation project for Tamagawa Takashimaya S.C. has begun, with the grand opening targeted for fiscal 2027.」

「At "Tamagawa Takashimaya S・C," where renovation work is under way, the food court "P." opened on West Building Street in April. Comprising 4 stores that showcase diverse cultures and styles, it is creating a new shopping environment that connects the sidewalk, the space, and the community.」

「At Kashiwa Takashimaya Station Mall, three facilities, including the Kashiwa Station Front Administrative Service Center operated by Kashiwa City, Chiba Prefecture, opened in February 2025. This completed the renovations that had been under way since September 2023.」

「Kashiwa Takashimaya Station Mall is undergoing phased renovations, including the introduction of tenants in high demand in the local community. The multipurpose community space BeARIKA opened in September this year.」

「Kashiwa Takashimaya Station Mall is undergoing phased renovations incorporating tenants in high demand and community functions. The company will continue to create an attractive shopping center rooted in the local community, improve the value of experiences unique to physical facilities and attract new customer segments.」

「In October, Kyoto Takashimaya S.C., comprising Takashimaya Kyoto store and the specialty-store zone T8, opened under the concept of Kyoto's premier meeting place. In November, the company reopened Tachikawa Takashimaya S.C. following renovations, creating a place for local residents' daily lives. Going forward, under the town development strategy, the company will continue to improve the value of real-world experiences through the development and operation of commercial facilities that draw on the group's comprehensive capabilities.」

「As a new business, the company signed a basic agreement with Adachi City, Tokyo, in July concerning the use of municipally owned land in front of Rokucho Station and will participate in its first PPP project. Under the project, 東神開発株式会社, selected through a public proposal process, will develop and operate a mixed-use commercial facility and bicycle parking facility on municipally owned land in front of Rokucho Station on the Tsukuba Express line.」

「At Kyoto Takashimaya S.C., scheduled to open in October, the company named the specialty-store zone T8 and decided on the 51 stores to be opened. Based on the concept of Kyoto's premier meeting place, the company aims to meet the diverse needs of domestic and overseas visitors coming to the city for various purposes and to create a commercial facility that will remain a beloved new symbol of the city, a place where many people, activities and products come together.」

「In Japan, under the town development strategy, the company plans to open Kyoto Takashimaya S.C. in autumn 2023, a commercial facility comprising a department store and specialty stores, by introducing a specialty-store zone with new functions and services in the expanded area of Takashimaya Kyoto store.」

「Amid these circumstances, at "Nagareyama-Otakanomori S・C," which marked its 15th anniversary in March, "Nagareyama-Otakanomori S・C ANNEX 2" opened on 30 June to add new appeal to the community, completing the 4-year project to concentrate commercial functions around Nagareyama-Otakanomori Station as a forest town center.」

「To ensure the sustainability of shopping centers, particularly in the next fiscal year the company will focus on improving and upgrading operations by building a low-cost operating model and promoting digitalization. It will also work to transform the business into next-generation shopping centers by promoting its community strategy and developing new content to create diverse reasons for customers to visit.」

「Against this backdrop, the company opened Azalea Terrace, an office and commercial complex, in November in Nagareyama Otakanomori, designated as a priority development area alongside Futako-Tamagawa. Through the synergies with FLAPS, which opened in March, and the deck connecting FLAPS with Nagareyama Otakanomori S.C. Main Building, which opened at the same time, the company aims to improve pedestrian circulation to surrounding facilities and the station and create greater vibrancy through the use of the station-front urban plaza. In developments including Nihombashi 3-chome Square, which was financed through green bonds, and facilities scheduled to open in the future, the company is also implementing initiatives for sustainable community development, including the use of 100% renewable energy-derived electricity.」

「Following the opening of Nagareyama Otakanomori S.C. FLAPS in March, the company continued town development in coordination with local government, including signing an agreement with Nagareyama City in July on the use of parking lots and other facilities as temporary evacuation facilities in the event of a major disaster.」

「In March, the company opened Nagareyama Otakanomori S.C. FLAPS. At Nagareyama Otakanomori, a deck connecting the FLAPS building, which opened in March, with Nagareyama Otakanomori S.C. Main Building also opened at the same time. In addition to improving pedestrian circulation to surrounding facilities and the station, the company aims to create greater vibrancy through community creation.」

「In July last year, as the second phase of the renovation of Takashimaya East Building, the company opened Community Food Hall Osaka-Nihombashi and worked to enhance the value of the building.」

「In July, as the second phase of the renovation of Takashimaya East Building, the company opened Community Food Hall Osaka-Nihombashi and worked to enhance the value of the building.」

「In the commercial development business, 東神開発株式会社 plays a central role in the town development strategy. This spring, as the culmination of the 50th anniversary of its opening last year, the company completed renovations of the atrium space on the first and second floors of the main building at Tamagawa Takashimaya S.C., based on the concept of a place symbolizing an urban resort where visitors can encounter new discoveries.」

「From the current third quarter consolidated accounting period, the name of the reporting segment formerly called Real Estate Business was changed to Commercial Development Business. This change was made to clarify once again, as 東神開発株式会社's overseas business entered full-scale operations during the current third quarter consolidated accounting period, that under the town development strategy promoted by the company, it will further pursue the development of commercial facilities that generate synergies with the department store business, rather than limiting its activities to asset and facility management and operations.」

「In the real estate business, 東神開発株式会社 continued to deepen the group's comprehensive town development strategy by renovating the rooftop garden and the entire food floor at Tamagawa Takashimaya S.C., which marks its 50th anniversary in November this year, to create places to spend time and gather. Although rental and management fee income increased at Nihombashi Takashimaya S.C. and other facilities opened last year, the reversal of the previous year's condominium sales and higher expenses associated with renovations for conversion into shopping centers resulted in higher revenue but lower profit. Based on the performance of Saigon Centre in Ho Chi Minh, Vietnam, where sales have been growing steadily, the company decided to participate in the Star Lake Project, a real estate development project in Hanoi. It aims to expand its Vietnam business by promoting place-making that creates destinations.」

「As Tamagawa Takashimaya S.C. approaches its 50th anniversary on 11 November this year, the company is gradually renovating its merchandising and facilities to transform it from a shopping center visited for shopping into a lifestyle center visited to spend time. It is also working to strengthen services by using digital technology to attract customers and collaborating with the department store.」

「In the real estate business, 東神開発株式会社 is promoting town development strategies tailored to the characteristics of each area. At Nihombashi Takashimaya S.C. New Building, the company attracted 115 specialty stores and will meet the needs of people living in Nihombashi by offering early-morning operations and experiences focused on activities and services. In November, it opened Kokage Terrace at Nagareyama Otakanomori Station on the Tsukuba Express (TX), one of the largest commercial facilities beneath a TX viaduct. It also opened FOOD STREET, a food-focused floor at Kashiwa Takashimaya Station Mall, and Minamikado in Yanagikoji, a regenerated backstreet area on the west side of Tamagawa Takashimaya S.C.」

「In the real estate business, 東神開発株式会社 continued to promote its town development strategy integrated with department stores. In Japan, Nihombashi Takashimaya S.C. East Building opened in March this year. Ahead of the opening of Nihombashi Takashimaya S.C. New Building in September and the grand opening of the entire complex next spring, the company is developing commercial facilities combining department stores and specialty stores under an area management initiative to revitalize the Nihombashi district.」

「In the real estate business, 東神開発株式会社 continued to strengthen its town development strategy integrated with department stores. In Japan, Nihombashi Takashimaya S.C. East Building opened in March this year. Ahead of the opening of Nihombashi Takashimaya S.C. New Building in September this year and the grand opening of the entire complex in 2019, the company is developing commercial facilities combining department stores and specialty stores under an area management initiative to revitalize the Nihombashi district.」

「In Japan, for the Nihombashi redevelopment, the company pursued measures including standardizing services, leasing and facility planning ahead of the opening of the new wing in September 2018 and the grand opening of the entire facility in spring 2019. … In the Nagareyama area of Chiba Prefecture, it opened a commercial facility beneath the elevated TX Nagareyama-Otakanomori Station in October and will continue commercializing projects around the station to enhance synergies with existing shopping centers.」

「At Nagareyama Otakanomori S.C., operated by 東神開発株式会社, the company marked its 10th anniversary by establishing a new kids' zone featuring children's products, a childcare facility and nursing rooms to reflect the area's character as a place where families with children want to live. As a result, both sales and customer traffic increased year on year. It also began working with 首都圏新都市鉄道株式会社, which operates the Tsukuba Express (TX), on commercial facility development using the space beneath the elevated TX Nagareyama-Otakanomori Station, and will actively pursue surrounding-area development. At Kashiwa Takashimaya Station Mall, which marked its 25th anniversary, the company established concentrated fashion offerings for working customers in their 30s and 40s and a large bookstore floor serving a broad range of customers. It will continue phased renovations, leveraging the facility's advantage of being directly connected to the station.」

「At Nagareyama Otakanomori S.C., operated by 東神開発株式会社, the company marked its 10th anniversary by establishing a new kids' zone consolidating children's products, a childcare facility and nursing rooms to reflect the area's character as a place where families with children want to live. As a result, both tenant sales and customer traffic increased from the previous year. At Kashiwa Takashimaya Station Mall, which marked its 25th anniversary, the company strengthened fashion offerings for working customers in their 30s and 40s and established a large bookstore floor serving a broad range of customers. It will continue to renovate the facility in stages, leveraging its advantage of being directly connected to JR Kashiwa Station.」

「In the real estate business, 東神開発株式会社 pursued community development by leveraging its commercial development expertise. At Tachikawa TM Building, which transitioned to an integrated operations and management framework operated by 東神開発株式会社, and at Shinjuku Takashimaya Times Square, the company sought to provide high-quality services based on closer communication with the department store and tenants, promote joint sales campaigns throughout the facilities, and develop the Takashimaya brand across the properties. It also renovated Kashiwa Takashimaya Station Mall and Nagareyama Otakanomori S.C. to better meet local customer needs. At Nagareyama Otakanomori S.C., which marked its 10th anniversary of opening this year, it established a new kids' zone consolidating children's products, a childcare facility and nursing rooms to reflect the area's character as a place where families with children want to live.」

「Overseas, TOSHIN DEVELOPMENT SINGAPORE PTE. LTD., which operates Singapore Takashimaya S.C., sought to increase tenant rental income, mainly through renovations. Although it posted higher sales and earnings in local-currency terms, the impact of the stronger yen resulted in lower sales and higher earnings.」

「In the real estate business, 東神開発株式会社 pursued group-wide community development in Japan and overseas, resulting in higher sales and earnings.」

「東神開発株式会社 worked to advance the renovation of existing shopping centers.」