Daibiru Acquires Toranomon Mitsui Building with an eye toward Redevelopment of the area.

Source: www.gulfoilandgas.com 12/21/2023, Location: Asia

Mitsui O.S.K. Lines, Ltd. (MOL; President & CEO: Takeshi Hashimoto) announced that its group company Daibiru Corporation (President and CEO: Takashi Maruyama; Head Office: Kita-ku, Osaka) has acquired trust beneficiary rights in the Toranomon Mitsui Building and renamed the building "Toranomon Daibiru-East Building".

The property is a large office building in the Toranomon area, where large-scale redevelopment has been underway in the surrounding area. In recent years, the area has gained a growing presence in the Tokyo business district. Along with the Shosen Mitsui Building (Toranomon Daibiru-West Building, completed in 1979), located in the same city block, which is owned by Daibiru and houses the MOL Group's headquarters functions, the total site area will become 7,901m2. Daibiru is looking at redeveloping the entire area facing the main arterial roads (Sotobori-dori and Shintora-dori) in the future.

MOL has set portfolio strategy as one of its key growth strategies in the MOL Group's new management plan, "BLUE ACTION 2035," and is transforming its business portfolio so that it can maintain profitability even during a weak shipping market. It positions the real property business as one of the non-shipping and stable revenue businesses, and aims to expand the business both domestically and internationally. In Japan, Daibiru has been promoting development not only in this area and but also other districts in Tokyo as well as in Osaka and Sapporo.


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