Expanding business domains by leveraging the brand

「そのほか、オーストラリア・シドニー所在のオフィスビル「680 George Street」及び「50 Goulburn Street」を保有するファンドへの出資持分を取得し、海外事業基盤の構築に取り組みました。」

「We worked to expand our business domains, including through the acquisition of income-producing properties and participation in a rental housing development project in Australia.」

「As initiatives beyond the railway corridor and overseas, we worked to expand our business domains through the completion of logistics facilities, acquisitions of income-producing properties, investments in local asset management funds in Australia and the United Kingdom, and the opening of a new hotel in Thailand, among other measures.」

「In May, as the first overseas business expansion by the Group, we invested in 60 Margaret Street, an office and retail complex in Sydney. In July, we established 相鉄不動産投資顧問㈱ to enter the real estate fund business, among other initiatives to expand our business platform.」

「During the fiscal year, in addition to working to increase passenger numbers on the Sotetsu-Tokyu direct line, which opened in March 2023, we worked to expand our business domains through new investment in a diverse range of assets in the real estate leasing business, participation in 2 condominium development projects in Thailand, and the opening of new hotels in Vietnam and Taiwan.」

「On 6 July, we opened Sotetsu Grand Fresa Saigon, the first overseas hotel under the Sotetsu Grand Fresa brand.」

「In addition, following the improvement in access to central Tokyo brought about by the opening of the entire Sotetsu Shin-Yokohama Line, we expanded the areas targeted for the acquisition of offices, mixed-use buildings and other properties and strengthened our initiatives. As part of this effort, we acquired Sotetsu Shin-Yokohama Building (Fuji Fire and Marine Yokohama Building) in May, Sotetsu Toritsu-Daigaku Station Front Building in June, and Sotetsu Yoyogi-Uehara Building (CABO uehara) in September.」

「During the fiscal year, in addition to the opening of the Sotetsu-Tokyu direct line in March 2023, we strengthened initiatives with a view to the future, including participation in our second condominium development project in Thailand, the opening of Phase 1 of Hoshiten qlay, a new facility under the elevated tracks between Hoshikawa and Tennocho stations, and the opening of 5 new hotels, while working to create a preferred railway corridor and expand our business domains.」

「In the limited-service hotel business, we expanded our business platform by opening 4 hotels, including Sotetsu Grand Fresa Takadanobaba, in anticipation of a future recovery in demand.」

「In the limited-service hotel business, we expanded our business platform by opening 3 hotels, including Sotetsu Grand Fresa Takadanobaba, in anticipation of a future recovery in demand.」

「In the limited-service hotel business, we expanded our business platform by opening Sotetsu Grand Fresa Takadanobaba, in anticipation of a future recovery in demand.」

「At the accommodation-focused hotels, the Company temporarily closed some directly operated hotels as a measure in response to the decline in accommodation demand caused by the spread of COVID-19. However, in anticipation of a future recovery in demand, it opened 4 properties, including Sotetsu Fresa Inn Hiroshima-Ekimae, and strengthened its business platform.」

「At the accommodation-focused hotels, the Company temporarily closed some directly operated hotels as a measure in response to the decline in accommodation demand caused by the spread of COVID-19. However, in anticipation of a future recovery in demand, it opened Sotetsu Fresa Inn Hiroshima-Ekimae and strengthened its business platform.」

「In the hotel business, Sotetsu Hotel Development Co., Ltd., a consolidated subsidiary of the Company, acquired shares in Hi Metta Karuna Panya Co., Ltd., resulting in the recognition of a gain on a bargain purchase of ¥87 million during the first quarter of the current consolidated cumulative period.」

「The Company further opened 4 properties, Sotetsu Fresa Inn Tokyo-Tamachi ANNEX, Sotetsu Fresa Inn Kanda-Otemachi, THE POCKET HOTEL Kyoto Karasuma-Gojo and Sotetsu Fresa Inn Yokohama Station East Exit, continuing efforts to expand its business platform.」

「The Company opened 2 Sotetsu Fresa Inn properties in Tokyo and The Pocket Hotel Kyoto Karasuma-Gojo, the second property under The Pocket Hotel brand, in Kyoto.」

「In the accommodation-focused hotel business, the Company opened 3 Sotetsu Fresa Inn properties in Japan and Sotetsu Fresa Inn Seoul Myeongdong in South Korea, the first overseas property under the Sotetsu Fresa Inn brand, thereby strengthening its business platform.」

「Under the Sotetsu Fresa Inn brand, the Company opened Sotetsu Fresa Inn Kobe-Sannomiya, its first property in Hyogo Prefecture, strengthening its business platform,」

「In the accommodation-focused hotel business, the Company opened Sotetsu Fresa Inn Osaka-Yodoyabashi and Sotetsu Fresa Inn Osaka-Shinsaibashi in Osaka, and The Pocket Hotel Kyoto-Shijokarasuma in Kyoto, a new type of hotel offering good value for money, thereby strengthening its business platform. Overseas, it opened The Splaisir Seoul Myeongdong as its first directly operated hotel in Asia and The Splaisir Seoul Dongdaemun as its second, advancing overseas expansion.」

「At the accommodation-focused hotels The Splaisir, Sotetsu Fresa Inn and Hotel Sunroute, the Company opened The Splaisir Seoul Dongdaemun as its second directly operated hotel in Seoul, South Korea, following The Splaisir Seoul Myeongdong, its first directly operated hotel in Asia, advancing overseas expansion. In Japan, it opened Sotetsu Fresa Inn Osaka-Yodoyabashi and Sotetsu Fresa Inn Osaka-Shinsaibashi in Osaka, and The Pocket Hotel Kyoto-Shijokarasuma in Kyoto, a new type of hotel offering compact rooms and good value for money. It also expanded Hotel Sunroute Ariake, strengthening its business platform.」

「At the accommodation-focused hotels The Splaisir, Sotetsu Fresa Inn and Hotel Sunroute, the Company opened The Splaisir Seoul Myeongdong in Seoul, South Korea, as its first directly operated hotel in Asia, advancing overseas expansion. In Japan, it opened Sotetsu Fresa Inn Osaka-Yodoyabashi, the first Sotetsu Fresa Inn brand property in Osaka, and expanded Hotel Sunroute Ariake, strengthening its business platform. In July, it also opened The Splaisir Seoul Dongdaemun in Seoul, South Korea, as its second directly operated hotel.」

「At the accommodation-focused hotels Sotetsu Fresa Inn and Hotel Sunroute, the Company opened Sotetsu Fresa Inn Osaka-Yodoyabashi, the first Sotetsu Fresa Inn brand property in Osaka, and expanded Hotel Sunroute Ariake to give it the largest number of guest rooms in the area, thereby strengthening its business platform. It also actively captured inbound and diverse domestic demand and worked to improve profitability. At The Splaisir Seoul Myeongdong, which began operations in February, it worked to improve profitability by expanding sales channels and rigorously implementing revenue management.」

「At the accommodation-focused hotels Sotetsu Fresa Inn and Hotel Sunroute, the Company opened 4 properties in Tokyo, including Sotetsu Fresa Inn Tokyo-Roppongi, as well as Sotetsu Fresa Inn Kyoto-Shijokarasuma and Sotetsu Fresa Inn Kyoto-Hachijoguchi, the first Sotetsu Fresa Inn brand properties in Kansai, thereby strengthening its business platform.」

「The Company opened Sotetsu Fresa Inn Kyoto-Shijokarasuma and Sotetsu Fresa Inn Kyoto-Hachijoguchi, the first Sotetsu Fresa Inn brand properties in Kansai, thereby strengthening its business platform,」

「During the period, in addition to transferring the shares of 相鉄アメニティライフ㈱, the Company began expanding its used condominium purchase, refurbishment and resale business into central Tokyo, opened a representative office in Ho Chi Minh City, Vietnam, and began specific studies aimed at expanding its accommodation-focused hotel business overseas.」

「At the accommodation-focused hotels Sotetsu Fresa Inn and Hotel Sunroute, the Company renovated guest rooms and other facilities at Sotetsu Fresa Inn Tokyo-Tamachi and Hotel Sunroute New Sapporo, actively captured inbound and diverse domestic demand and worked to improve profitability. It also opened Hotel Sunroute Osaka-Namba, Sotetsu Fresa Inn Ginza-Nanachome and the annex of Sotetsu Fresa Inn Shimbashi-Hibiya-guchi, strengthening its business platform.」

「At the accommodation-focused hotels Sotetsu Fresa Inn and Hotel Sunroute, the Company actively captured inbound and diverse domestic demand and worked to improve profitability. It also opened Hotel Sunroute Osaka-Namba and worked to strengthen its business platform.」

「In June of this year, the Company opened a representative office in Ho Chi Minh City, Vietnam. Going forward, it will identify and examine specific opportunities related to accommodation-focused hotel operations in Ho Chi Minh City, while also considering the potential for hotel operations in other areas, including elsewhere in Vietnam and neighboring Asian countries, as well as opportunities to develop non-hotel businesses.」

「To expand its business domains, the Company will also strengthen its real estate and accommodation-focused hotel businesses in areas outside those along the 相鉄 Line.」