Merger of JR East Group Station Building Management Companies
East Japan Railway Company
December 27, 2004
JR East Group will merge 10 existing group station building management companies into four companies effective April 1, 2005, as part of the ongoing consolidation and reorganization of the Group’s station building management business.
- JR East Group is consolidating and reorganizing its station building management businesswith the following objectives:
- Enhancing sales capability in tenant leasing and other areas
- Increasing business efficiency through low-cost operation
- The four upcoming mergers involve the following 10 companies (underlined names are the surviving companies):
- The EKIBIRU Development Co. TOKYO with Omori Primo Co., Ltd. and Akihabara Co., Ltd.
- Hiratsuka Station Building Co., Ltd. with Lumine Chigasaki Co., Ltd. and Abonde Co., Ltd.
- Morioka Terminal Building Co., Ltd. with Aomori Station Development Co., Ltd.
- Takasaki Terminal Building Co., Ltd. with Kumagaya Station Development Co., Ltd.
Upon the merger, Hiratsuka Station Building Co., Ltd. will be renamed "Shonan Station Building Co., Ltd."
- The effective date of all four mergers will be April 1, 2005.
- The mergers will lead to further enhanced sales capability and lower operating costs, which together will result in greater earning power. In this way, we intend to make our station buildings more attractive, both to our customers in these regions and to our tenants, who are the Group's business partners.
- Since launching the current reorganization of the station building management business in 2001, JR East has implemented many mergers. The mergers effective April 1, 2005, will bring to 38 the number of the Group's station building management companies, which numbered 56 before the reorganization began. The JR East Group will continue to consolidate and reorganize its station building management business to improve the efficiency of Group business resources, revitalize the stations, and increase the competitiveness in managing station buildings.
[Reference Information]
Profiles of Merging Companies
| Company name | The EKIBIRU Development Co. TOKYO |
Omori Primo Co., Ltd. | Akihabara Co., Ltd. |
| Surviving company | Superseded company | Superseded company | |
| Address | 1-5-5 Ebisu, Shibuya-ku, Tokyo |
1-6-16 Omori Kita, Ota-ku, Tokyo |
1-26 Sakuma-cho, Chiyoda-ku, Tokyo |
| Station building names | atré (Ebisu, Meguro, Shinagawa, Ueno; others), ELNARD (Kameido), Hilltop Garden (Meguro) |
PRIMO | Akihabara Department Store |
| Capitalization | 1.5 billion yen | 1.0 billion yen | 362.5 million yen |
| Station building sales | 73.5 billion yen (shopping center only) |
17.4 billion yen | 3.4 billion yen |
| Post-merger capitalization | 1.5 billion yen | ||
| Post-merger name | The EKIBIRU Development Co. TOKYO | ||
| Company name | Hiratsuka Station Buildings Co., Ltd. |
Lumine Chigasaki Co., Ltd. |
Abonde Co., Ltd. |
| Surviving company | Superseded company | Superseded company | |
| Address | 1-1 Takara-machi, Hiratsuka City, Kanagawa Prefecture | 1-1 Moto-machi, Chigasaki City, Kanagawa Prefecture | 11-2 Tahara Honcho, Atami City, Shizuoka Prefecture |
| Station building names | LUSCA | Chigasaki LUMINE | Atami Station Department Store |
| Capitalization | 200 million yen | 400 million yen | 30 million yen |
| Station building sales | 14.6 billion yen | 9.8 billion | 1.1 billion |
| Post-merger capitalization | 200 million | ||
| Post-merger name | Shonan Station Building Co., Ltd. | ||
| Company name | Morioka Terminal Building Co., Ltd. |
Aomori Station Development Co., Ltd. |
| Surviving company | Superseded company | |
| Address | 1-44 Morioka, Ekimae-dori, Morioka City, Iwate Prefecture |
1-2-3 Yanagawa, Aomori City, Aomori Prefecture |
| Station building names | FESAN, PALMO | LOVINA |
| Capitalization | 900 million yen | 400 million yen |
| Station building sales | 9.5 billion yen | 3.2 billion yen |
| Post-merger capitalization | 900 million yen | |
| Post-merger name | Morioka Terminal Building Co., Ltd. | |
| Company name | Takasaki Terminal Building Co., Ltd. |
Kumagaya Station Development Co., Ltd. |
| Surviving company | Superseded company | |
| Address | 222 Yashima-cho, Takasaki City, Gunma Prefecture |
2-115 Tsukuba, Kumagaya City, Saitama Prefecture |
| Station building names | Monterey | AZ, AZ 2nd |
| Capitalization | 780 million yen | 350 million yen |
| Station building sales | 6.3 billion yen (shopping center only) |
6.3 billion yen |
| Post-merger capitalization | 780 million yen | |
| Post-merger name | Takasaki Terminal Building Co., Ltd. | |
Note: Sales figures are for FY 2003 (actual).
