Expansion into the Chubu Region and Joint Businesses through a Capital and Business Alliance with Chubu Electric Power

「事業者グループ：中部電力、中電不動産、当社等」

「In addition to the sale of major properties, including a logistics facility in Chitose, Hokkaido, and development land in Akashi, Hyogo Prefecture, the sale of commercial sites to Es-con Japan REIT Investment Corporation, a listed REIT managed by the Group's subsidiary Es-con Asset Management Corporation, and the sale of multiple rental residences to private funds formed by the Group's subsidiary Es-con Investment Partners Corporation made a significant contribution to earnings for the consolidated fiscal year.」

「In the residential district, the company is developing the large-scale for-sale condominium Le Jade City Senri Fujishirodai (642 units), comprising 4 buildings. Contracts and handovers for approximately 2 buildings have been completed, while sales of the remaining 2 buildings are also progressing steadily.」

「In the residential district, the company is developing the large-scale for-sale condominium Le Jade City Senri Fujishirodai (642 units), comprising 4 buildings. Contracts for 2 buildings were progressing steadily, reaching 92% as of the end of September 2024, while sales of the remaining 2 buildings are scheduled to begin this autumn.」

「Within the overall site, the commercial district opened on 7 November 2023. In the residential district, sales of the for-sale condominium Le Jade City Senri Fujishirodai (244 units) began in October 2023. In addition, the for-sale condominium SEVENS VILLA Karuizawa (7 units), jointly developed with Chuden Real Estate Co., Ltd. in Karuizawa, Nagano Prefecture, was fully contracted and sold in October 2023 following product planning that capitalised on its rare location surrounded by lush natural surroundings.」

「The development of TSUNAGU GARDEN Senri Fujishirodai (Fujishirodai, Suita, Osaka Prefecture), currently the fifth project undertaken jointly with Chuden Real Estate Co., Ltd., a wholly owned subsidiary of Chubu Electric Power Company,Incorporated, is under way. On approximately 20,000 tsubo of land, the project will integrate apartment buildings, detached houses, a clinic mall, a licensed nursery school, commercial facilities and a park, creating a new multi-generational community. It is the first mixed-use development undertaken with Chuden Real Estate Co., Ltd.」

「The development of TSUNAGU GARDEN Senri Fujishirodai (Fujishirodai, Suita, Osaka Prefecture), currently the fifth project undertaken jointly with Chuden Real Estate Co., Ltd., a wholly owned subsidiary of Chubu Electric Power Company,Incorporated, is under way. On a site of approximately 20,000 tsubo, the project aims to create an attractive community that harmonises with the surrounding residential environment. It is the first mixed-use development undertaken with Chuden Real Estate Co., Ltd. integrating residential and commercial facilities.」

「As the first and second joint projects, four properties, including Gran Le Jade Shirakabe Tsuyu-no-Tei (24 units) and Gran Le Jade Shirakabe Rinnen-no-Tei (34 units), developed in Shirakabe, Higashi Ward, Nagoya, have been fully contracted and sold.」

「In September of the same year, following the business group’s submission of plans involving the use of locally produced Aichi timber in response to Aichi Prefecture’s call for business and project ideas aimed at achieving carbon neutrality, the group entered into the prefecture’s first Agreement on the Promotion of Timber Use in Buildings.」

「In February 2022, a business group represented by Chubu Electric Power Company,Incorporated, with the company as a participating member, entered into a basic agreement concerning the post-use project for the Athletes’ Village of the 20th Asian Games, organised by Aichi Prefecture and Nagoya City.」

「Since the capital and business alliance with Chubu Electric Power Company,Incorporated in August 2018, the company has positioned the Chubu region as a priority business area alongside the Tokyo metropolitan and Kansai regions. Following the opening of the Nagoya Branch in March 2019, it has already acquired 9 new business sites in the Chubu region.」

「In May 2021, the company entered into an agreement among investors with Chubu Electric Power Company,Incorporated and Spread Co., Ltd. concerning the establishment of TSUNAGU Community Farm LLC, which operates a fully artificial-light plant factory. In June 2021, a business group represented by Chubu Electric Power Company,Incorporated, with the company as a participating member, was selected as the preferred candidate to undertake the post-use project for the Athletes’ Village of the 20th Asian Games, organised by Aichi Prefecture and Nagoya City.」

「In February 2021, the company entered into a new capital and business alliance agreement with Chubu Electric Power Company,Incorporated to further strengthen their collaboration. The issuance of new shares through a third-party allotment to Chubu Electric Power Company,Incorporated was approved at the 26th Annual General Meeting of Shareholders held in March 2021. Following the third-party allotment, for which payment was completed on 5 April 2021, Chubu Electric Power Company,Incorporated’s voting rights ownership ratio became 51.54%, and the company became a consolidated subsidiary of Chubu Electric Power Company,Incorporated.」

「In August 2018, the company entered into a capital and business alliance agreement with Chubu Electric Power Company,Incorporated, positioned the Chubu region as a priority business area alongside the Tokyo metropolitan and Kansai regions, and acquired 4 new business sites in the Chubu region after opening the Nagoya Branch in March 2019. It also began joint condominium and commercial development projects with Chuden Real Estate Co., Ltd. in Ichinomiya, Aichi Prefecture, Kakegawa, Shizuoka Prefecture, and Suita, Osaka Prefecture. The company will continue strengthening its collaboration with companies across the Chubu Electric Power Group, generating synergies and developing businesses valued by local communities.」

「In August 2018, we entered into a capital and business alliance agreement with Chubu Electric Power Company,Incorporated, designating the Chubu region as a priority business area alongside the Tokyo metropolitan and Kansai regions. After opening our Nagoya branch in March 2019, we acquired 4 new development land projects in the Chubu region.」

「For the development land acquired in Suita, Osaka, in March 2020, we began a joint project with 中電不動産 for the development of condominiums for sale and commercial facilities, their third such project.」

「In August 2018, the company entered into a capital and business alliance agreement with Chubu Electric Power Company,Incorporated, positioned the Chubu region as a priority business area alongside the Tokyo metropolitan and Kansai regions, and opened a Nagoya Branch in March 2019. In June 2019, it acquired land for the first for-sale condominium project in the Chubu region in Higashi Ward, Nagoya, followed by land for the second project in the same ward in September, steadily advancing its business in the Chubu region.」

「In August 2019, the company entered into a capital and business alliance agreement with Chubu Electric Power Company,Incorporated, positioned the Chubu region as a priority business area alongside the Tokyo metropolitan and Kansai regions, and opened a Nagoya Branch in March 2019. In June 2019, it acquired land for the first for-sale condominium project in the Chubu region in Higashi Ward, Nagoya, and is developing its business with the aim of contributing to regional revitalisation.」

「The company entered into a capital and business alliance agreement with Chubu Electric Power Company,Incorporated in August 2018. In March 2019, it opened a Nagoya Branch and began developing its business in the Chubu region, seeking to leverage the region’s extensive customer base held by Chubu Electric Power Company,Incorporated and its group company Chuden Real Estate Co., Ltd., together with the company’s real estate development capabilities. The aim is to establish the Chubu region as an important business area on a par with the Tokyo metropolitan and Kansai regions, to the benefit of local communities and to contribute to regional revitalisation.」

「Based on a resolution of the Board of Directors meeting held on 28 August 2018, the company entered into a capital and business alliance agreement with Chubu Electric Power Company,Incorporated on the same date. The alliance is intended to maximise the corporate value of both companies by combining the company’s strengths in planning and business expertise related to real estate with the Chubu Electric Power Group’s strengths in energy supply, its customer base in the Chubu region and its expertise in facility construction developed through its electricity business, thereby creating synergies. In terms of the capital structure, Chubu Electric Power Company,Incorporated acquired 22,980,000 shares of the company from Wang Houlong, then a major shareholder and the largest shareholder, Tenma Seiryu Co., Ltd., then a major shareholder, and 2 other shareholders. The company consequently became an equity-method affiliate of Chubu Electric Power Company,Incorporated.」