Oct. 18, 2016
Nomura Real Estate Development Co., Ltd.
Shimizu Corporation
Sumitomo Corporation
Tokyu Land Corporation
Hulic Co., Ltd.

Concluding Partnership Agreement for Large-scale Urban Redevelopment Project in Nakano, Tokyo

The five-company consortium led by Nomura Real Estate Development Co., Ltd. as lead partner and consisting of Nomura, Shimizu Corporation, Sumitomo Corporation, Tokyu Land Corporation and Hulic Co., Ltd. (the “Consortium”) on September 30, 2016 signed a partnership agreement with the government of Tokyo’s Nakano Ward for a planned redevelopment project for the area (the “Project”). The Project will include redevelopment of the ward government office and Nakano Sunplaza.

In July, around two months prior to the signing, the Consortium was selected by the government to undertake the Project. The purpose of the recent agreement was to provide details regarding the partnership scheme, including objectives and responsibilities.

The district around Nakano Station is considered to have high growth potential, given a number of attractive characteristics, such as the location connecting the east and west of Tokyo, diverse urban functions, and unique cultural aspects.

Within this district, the planned site is situated in a particularly important section that has developed as the center of the area. In light of this, the Project aims to regenerate the section in a way that takes full advantage of the locational value while attaining an appropriate balance with surrounding areas in terms of townscape and urban functionality. Through this, it seeks to create a fitting home for global business and other activities, thereby revitalizing local economies.

To materialize the above vision, the Project plan centers on construction of a multifunction complex to house various personal, cultural, business and information-related activities and a large event facility with strong crowd-drawing and communication power. To support the effective demonstration of these functions, the plan also includes public infrastructure improvements to facilitate convenient transportation around the location.

As a partner of Nakano Ward, the Consortium will propose and review relevant plans to pursue the sound management of its urban redevelopment project.

Computerized image

Planned site
The above map has been created using the Digital Japan Web System offered by the Geospatial Information Authority of Japan.

中野区役所：Nakano Ward Office
中野サンプラザ：Nakano Sunplaza
中野通り：Nakano Dori St.
東京国税局中野税務署：Nakano Tax Office, Tokyo Regional Taxation Bureau
JR中野駅：JR Nakano Station

Summary of the Consortium’s proposals
(1)	Creating a next-generation business environment
	Aims to create an environment that can develop new business communities in Nakano to help the sustainable development of the district by taking advantage of the locational and entrepreneurial value of the area around Nakano Station, with a focus on strengthening MICE (meetings, incentives, conferences and exhibitions) functions.
(2)	Building a large privately managed arena with a 10,000-seat capacity
	Based on the past contributions made by Nakano Sunplaza, the town’s symbolic meeting/event facility, and its resulting, long-established brand, builds an arena facility designed to accommodate high-profit events, coupled with relevant management schemes, seeking to achieve profitability under private management.
(3)	Far-sighted town regeneration vision
	Promotes town redevelopment to support introduction of advanced technologies, provides a platform for key urban functions such as regional traffic hubs, and creates a foundation for constructing a global city through theme-based area management approaches.
(4)	Funding new ward government office construction
	Utilizing government-owned assets, seeks to fund construction of the new ward government office and the arena, thereby achieving sound financial management of the redevelopment project.

Inquiries: Corporate Communications Department, Sumitomo Corporation; News Release Contact Form