Acquiring the Osaka Hotel Site and Taking a Leading Role in Redevelopment
First written in FY2016. 2 of 5 entries say "Restated". Latest entry: FY2023.
8 other companies' latest entry also says "Advanced".
- FY2023AdvancedAnnual report
「Effective 31 March 2023, the Company transferred the trust beneficiary interests and other assets in the land and buildings of RIHGA Royal Hotel (Osaka) to 合同会社さくら, an affiliate of BGO, and made a tokumei kumiai investment of ¥1.5 billion in that company.」
The transfer of the Osaka hotel site and related assets to a BGO affiliate and the ¥1.5 billion tokumei kumiai investment were completed, moving the redevelopment involvement framework premised on the Company’s previous ownership into the implementation stage. - FY2023-Q3ReframedAnnual report
「The Company will transfer the trust beneficiary interests and other assets related to this property to a special-purpose company established by BGO (the “real-estate acquisition SPC”).」
The framework was reorganised from one premised on the Company’s ownership of and leading involvement in the Osaka hotel site to one in which the trust beneficiary interests and other assets would be transferred to a special-purpose company on the BGO side and the Company would consider making a tokumei kumiai investment. The transaction was scheduled to be completed on 31 March 2023. - FY2018RestatedAnnual report
「In addition, as the largest landowner in Nakanoshima 5-chome, the Company will take an active and leading role in the redevelopment project for the district together with other parties, with the aim of achieving redevelopment that includes rebuilding the hotel.」
The Company continues its policy of taking a leading role in the Nakanoshima redevelopment on the premise of acquiring the Osaka hotel site. - FY2017RestatedAnnual report
「In addition, as the largest landowner in Nakanoshima 5-chome, the Company will take an active and leading role in the redevelopment project for the district together with other parties, with the aim of achieving redevelopment that includes rebuilding the hotel.」
The Company continues its policy of taking a leading role in the redevelopment of Nakanoshima 5-chome and the rebuilding of the hotel as the largest landowner. - FY2016First statedAnnual report
「We acquired, in trust form, Mori Trust Co., Ltd.’s co-ownership interest in the underlying land, which was owned 90% by Mori Trust Co., Ltd. and 10% by Kanden Real Estate Development Co., Ltd. We will continue operating the existing hotel for the time being, maximize accommodation demand expected to increase and maximize earnings opportunities, while taking an active and leading role in redevelopment of the district as the largest landowner in Nakanoshima 5-chome and pursuing redevelopment, including rebuilding the hotel.」
Sets out the framework for acquiring Mori Trust’s 90% co-ownership interest for ¥27 billion and participating in redevelopment as the largest landowner.