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Mitsui Fudosan Residential Enters the Student Dormitory Business*1
Construction of first project, “College Court Heiwadai” completed, residents to commence moving in

March 21, 2017
Mitsui Fudosan Residential Co., Ltd.

Tokyo, Japan, March 21, 2017 - Mitsui Fudosan Residential Co., Ltd., announced today that having entered the student dormitory business*1 as a new business domain, it has completed its first project, “College Court Heiwadai” (Nerima-ku, Tokyo), in March 2017. This project was developed by Mitsui Fudosan Residential Co., Ltd., and after construction was completed, the entire building was leased to nationwide student dormitory operator MAINICHICOMNET Co., Ltd., which will operate the dormitory. Residents are to start moving in on April 1, and applications have already been received for 95% of the units.

College Court Heiwadai is located six minutes’ walk from Heiwadai Station on the Tokyo Metro Yurakucho Line and Fukutoshin Line, which have a large number of university campuses along them. The building has seven floors above ground and 178 units with furniture and appliances. Each private area features individual units with their own independent unit bathrooms, vanities, and toilets for privacy. Furthermore, the building managers are a married couple who reside permanently onsite, and morning and evening meals designed by a nutritionist are provided daily at the dining hall in the common area. In this way, the facility supports safe and healthy campus life for students.

*1 The “student dormitory business” refers to the housing business for students, covering student dormitories and student condominiums.

Computer-generated image of the exterior Computer-generated image of the shared dining hall

Features of College Court Heiwadai

  1. Mitsui Fudosan Residential’s first student dormitory business
  2. Operated by the highly experienced company MAINICHICOMNET Co., Ltd.
  3. Private and common areas to support both advanced functionality as a residence and communication between residents

1. Mitsui Fudosan Residential’s first student dormitory business

(1) Background to market entry
While the birthrate in Japan continues to decline, the ratio of women advancing to tertiary education has been increasing, along with the number of overseas students. There is stable demand for student housing in the Tokyo metropolitan area in response to a movement among universities to return to the cities. Currently, around 6% of students studying away from home reside in student dormitories*2. However, demand for dormitories with managers who reside permanently onsite and that provide meals is expected to increase going forward, as they provide peace of mind to parents.
*2 National Federation of University Co-operative Associations “2016 Student Living Status Survey”

(2) Aim of the business
Mitsui Fudosan Residential has been promoting the creation of residences that meet diversifying needs through its housing sales and rental housing operations by listening to feedback from its customers and reflecting it in products and services as a developer. Leveraging its accumulated planning, development, and quality control expertise, the Company is providing residences suitable for people in many different stages of life. The student dormitory business has been positioned as a new business domain among them.
As a second project, the Company is now constructing a student dormitory with approximately 500 units in Takada, Toshima-ku, Tokyo.

2. Operated by the highly experienced company MAINICHICOMNET Co., Ltd.

MAINICHICOMNET Co., Ltd. operates and manages 8,852 units in 191 buildings, with a wide range from student condominiums to catered student dormitories and international student dormitories. MAINICHICOMNET Co., Ltd. has highly rated expertise in dealing with special factors in the student dormitory market, such as attracting tenants and managing leases. It partners with businesses seeking efficient student dormitory management services to provide operation and management. The present building is one of the College Court brand series of catered student dormitories.

3. Private and common areas to support both advanced functionality as a residence and communication between residents

(1) Private area aims to provide a comfortable living space
The private areas are approximately 15 m2, and have their own unit bathroom, vanity, and toilet, providing a sense of greater independence within a dormitory format. Mitsui Fudosan Residential’s proprietary design standard developed through its housing sales and rental housing business has been adapted to create a student version, enabling the Company to apply its exacting standards for residences to a student dormitory in an effort to realize comfortable living spaces that surpass traditional dormitories.

(2) A dining hall that serves as a communication space
The dining hall seats 90, and the space design has been overseen by Mitsui Designtec Co., Ltd. of the Mitsui Fudosan Group. With other areas including a space with a raised tatami mat floor and a meeting space with a projector, the facility is designed to create spaces where residents can expand their sphere of communication with one another. The a nutritionally balanced menu designed by a nutritionist will be prepared in the dormitory kitchen, which will serve two meals in the morning and evening on weekdays.

Computer-generated image of the shared dining hall Computer-generated image of the private

Example plan of the private

Overview of College Court Heiwadai

Address 4-19-15 Heiwadai, Nerima-ku, Tokyo
Access Six minutes’ walk from Heiwadai Station on the Tokyo Metro Yurakucho Line and Fukutoshin Line
Structure and scale Steel-reinforced concrete structure with seven floors above ground
Total number of units 179 (*Including 1 unit not for rent)
Completion March 2, 2017 (Residents will start moving in on April 1, 2017)
Unit type 1R
Private area 169.64 ft2 ? 181.69 ft2 (15.76 m2 ? 16.88 m2)
Security 24-hour security
Private area Facilities Separate bathroom and toilet, individual vanity unit, air conditioner, storage, balcony, intercom with TV monitor, wooden flooring, furniture and appliances, lights, two-door refrigerator/freezer, bed, desk, chair, chest, TV table
Shared area Facilities Auto-lock doors, elevators, bicycle parking area, laundry room, satellite TV and communication services, security cameras, dining hall
Management format Permanently residing on site manager (married couple)

Overview of MAINICHICOMNET Co., Ltd.

Company name MAINICHICOMNET Co., Ltd.
Head office Otemachi Nomura Building 15F, 2-1-1 Otemachi, Chiyoda-ku, Tokyo 100-0004 Tel. +81 (3) 3548-2111
Establishment April 1974 (Listed on JASDAQ in 2002)
Capital ¥775.06 million (As of May 31, 2016)
No. of consolidated employees 230 (As of May 31, 2016)
Consolidated net sales ¥13,576.71 million (Fiscal year ended May 31, 2016)
Business activities Real estate solutions business
Real estate utilization consulting
Planning, design supervision, and development of revenue-generating real estate Property management of student condominiums and university student dormitories Real estate brokerage and real estate utilization consulting services Production of advertisements for real estate tenants and advertising agency services

Student living solutions business
Planning of group camps and research trips
Planning and operation of various sports events and international exchange programs Job search support, job search seminars, etc.
Arrangement of driving schools