Restructuring of Group Operations Accompanies the Development of the Tokyo Station District
East Japan Railway Company
July 20, 2005
With progress in the development of the Tokyo Station district (such as the Nihonbashi Exit building and Yaesu Exit twin tower building), the East Japan Railway Company (JR East) Group is restructuring its organization by consolidating operations, proceeding towards the realization of its new mid-term management vision, New Frontier 2008 - New Creation and Evolution.
The restructuring will enable the Group to build a more customer-focused management system and to more effectively utilize its assets, in particular in and around Tokyo Station. Prior to this restructuring, JR East established Japan East Building Co., Ltd. (hereinafter called JEBL) on July 1, 2005, in response to changes in the nature of competition in the development and management of office buildings.
- JR East and JEBL will take over some of the operations currently overseen by Tetsudo Kaikan, Co. Ltd. (hereinafter called Tetsudo Kaikan) and The EKIBIRU Development TOKYO, Co. Ltd. (hereinafter called EKIBIRU Development), and will also absorb some of the personnel of the two companies.
- The restructuring for Tetsudo Kaikan is scheduled to take place on October 1, 2005, and November 1, 2005, for EKIBIRU Development.
- Following the restructuring, Tetsudo Kaikan will function as a commercial developer, focusing mainly on the development and management of commercial facilities in and around Tokyo Station.
- EKIBIRU Development will concentrate on shopping center operations, and will develop and manage commercial facilities suited to station locations, such as atré station buildings.
- JEBL will take over office-related operations from both companies, bringing all three together as a single property management portfolio.
- With this restructuring, JR East will proceed with consolidation of its asset management operations, enabling the Group to make more effective use of its management resources.
These measures are being undertaken to make the roles of the Group companies clearer, increase shareholder value, and promote sustained growth, hence looking towards the enhancement of corporate strength and competitiveness.
‹Overview of JR East Building Co., Ltd.›
|1.||Business name||JR East Building Co., Ltd.|
|2.||Location of head office||2-2-1 Yaesu, Chuo-ku, Tokyo|
|4.||Capital||480 million yen (Wholly capitalized by JR East)|
|5.||Business activities||(1) Real estate loans
(2) Real estate management, trusteeship, contracting, etc.
|(Buildings to be managed)||
|6.||Contact address||2-2-2 Yoyogi, Chiyoda-ku, Tokyo (JR East Building)
* This address will change in October 2005.