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2020

* Information contained in this news release is current as of its date of announcement. Be aware that information contained herein is subject to change without notice.

Novel Experience of Shop on Wheels Coming to Your Neighborhood
Mobile Business Project Starts Up
- Trial events held in five areas with further expansion planned -

December 15, 2020
Mitsui Fudosan Co., Ltd.

Tokyo, Japan, December 15, 2020 – Mitsui Fudosan Co., Ltd., a leading global real estate company headquartered in Tokyo, announced today that it would launch its Mobile Business project as one of its Mobility Concept initiatives, which focus on transportation of people, goods, and services with the purpose of providing new experiential value to people living in neighborhoods.

In this project, starting in September 2020, Mitsui Fudosan ran trial events in 5 locations in the greater Tokyo region (Toyosu, Harumi, Itabashi, and Nihonbashi* areas and Chiba-shi) with 11 companies operating 11 stores in 10 sectors. The events have been well received by users and participating retailers.

* Trial events in Nihonbashi are scheduled for December 15, 19, and 20.

Mitsui Fudosan noticed that in the diverse properties it has developed and operated, users have different needs for shopping and services depending on location and time of day. The goal of the Mobile Business project is to offer users the experience of accessible, in-person shopping in familiar locations like their home and office, and to create experiential value through encounters with unexpected, attractive content (stores). Going forward, we plan to expand the events to include various mobile services such as hotels.

This project is a new business conceived under the Mitsui Fudosan Group’s business proposal system, MAG!C.

Mobile business utilizes relatively small spaces at various properties to respond to changing needs according to the day of the week and time of day. It also aims to be a seamless shopping experience hub that connects physical stores with e-commerce.

After the trial events, we plan to expand the scope of stores and add new locations according to the attributes of each area and users. We also intend to harness the strengths of mobile business to create totally new content, which will provide a shopping experience that fits diversifying lifestyles.

■Features of Mitsui Fudosan’s mobile business

Through the development and operation of diverse assets such as offices and houses, Mitsui Fudosan has deep insight into the varied needs of users according to attributes such as gender, age, family structure, and lifestyle, as well as location and occasion. By utilizing this knowledge, we can deliver specific content optimized for location, day of the week, and time of day.

Mobile business requires little capital investment and can easily relocate to areas likely to offer good sales potential. This lowers the risk for participants regardless of company size, increasing the diversity of businesses and attracting new business formats. Furthermore, we can utilize our abundant assets so that businesses can move to locations at peak times where users with a strong need for their goods and services gather, allowing them to increase their sales efficiently.

Mobile business produces a seamless shopping experience where users can shop anywhere, bridging the gap between physical and digital worlds by connecting conventional fixed stores with e-commerce. It also gives stores a third channel that helps to further deepen their knowledge of users’ preferences and purchasing behavior, and develop a closer relationship with them.

[About the trial events]
Mobile business trial events (mainly targeting condominium residents, office workers, and visitors)

From September 24 to December 20, 2020, mobile businesses (11 stores in 10 sectors, including food and beverage, goods, and services) will open at 4 condominiums managed by the Mitsui Fudosan Group in the greater Tokyo area (Toyosu, Harumi, and Itabashi areas and Chiba-shi) and 1 event plaza (Nihonbashi area).


Pop-up stores at condominiums


Pop-up store tenants

< Participating tenants >

  1. SHOYEIDO INCENSE CO.: “Incense Station Kotokoto Wagon” (incense products (stick incense, fragrant sachets))
  2. NipponDepartmentStore inc.: “Canderful” (canned products, regional specialties, etc.)
  3. MTG Co., Ltd.: “SIXPAD,” “Style,” “NEWPEACE” (health equipment, variety goods, bedlinens)
  4. cosme next Inc.: “@cosme TOKYO,” “@cosme STORE” (cosmetics)
  5. ONWARD PERSONAL STYLE CO., LTD.: “KASHIYAMA” (custom-made women’s shoes and suits)
  6. HARIO Lampwork Factory Inc.: “HARIO Lampwork Factory” (glass accessories)
  7. MILE CREATE GROUP: “Smart Relaxation QOHS” (osteopathy, chiropractic, relaxation salon)
  8. Reform Studio Co., Ltd.: “Riat!” (knife sharpening, shoe polishing and repair)
  9. Shoe Shine WORKS LLC: “Shoe Shine Works” (shoe polishing and repair)
  10. First Step LLC: “Kotobukiseian” (matcha crepes)
  11. Denji: “Nikomi Denji” (stewed beef tendon meal)

< Comments from participants >

Takeshi Sugaya, Chair, The Toyosu Tower Management Committee
“A variety of shops offering useful services opening near the condominium makes life more convenient and creates opportunities to discover shops that we don’t have in Toyosu. It’s something that residents busy with work and parenting can look forward to!”

Shuichi Washikawa, Manager, Sun City Office, Mitsui Fudosan Residential Services Co., Ltd.
“Sun City was built 40 years ago and has many elderly residents, who were delighted that they didn’t have to travel far under COVID-19 restrictions, because shops came to them. As the management company, we would like this event to continue, because it brings the resident community together.”

Tetsuya Takeda, General Manager, Communication Department, Digital Transformation Division,
ONWARD PERSONAL STYLE CO., LTD.

“We opened a mobile store at a Mitsui Fudosan condominium. Sales were greater than expected. The event is worthwhile as a promotional opportunity as well, because we attracted some new customers. We would like to continue taking part in these events.”

Masaharu Suzuki, Founder, NipponDepartmentStore inc.
“Not only did we reach our sales target, but were delighted that we could communicate directly with so many families while they enjoyed their shopping. We even had repeat customers who came two days in a row, and some of them visited our main store afterwards, which made us realize the potential of this new mobile business. We would like to run a bigger mobile store at a Mitsui Fudosan property going forward.”

■About Mitsui Fudosan’s Mobility Concept

Mitsui Fudosan has formulated VISION 2025, the new Group long-term vision, and its basic strategies include “Successfully establish a sustainable society through the creation of neighborhoods” and “Harness technology to innovate the real estate business.” The COVID-19 pandemic led to the diversification of the way we work and live, accelerating lifestyle changes. The utilization of digital services in daily life has become more important as well. Against this background, Mitsui Fudosan will create value through initiatives in mobility (such as MaaS and mobile business) as follows.

  1. Asset:Adapting to a borderless world
  2. Neighborhood creation:Discovering and improving access to attractive neighborhood content
  3. Experiential value:Real Estate as a Service

For more details of the Mobility Concept and its MaaS Project, visit the Mitsui Fudosan website.
https://www.mitsuifudosan.co.jp/english/corporate/news/2020/1215_01/
https://www.mitsuifudosan.co.jp/english//corporate/news/2020/1215_02/

■The Mitsui Fudosan Group’s Business Proposal System, MAG!C

This system was created during fiscal 2018 to reboot the Mitsui Fudosan Group’s DNA of Innovation and for the Companywide promotion to innovate the real estate business.
In principle, those who propose a business are given responsibility for it to move ahead.

■Mitsui Fudosan Group’s Contribution to SDGs

https://www.mitsuifudosan.co.jp/english/corporate/esg_csr/
The Mitsui Fudosan Group aims for a society that enriches both people and the planet under the principles of coexist in harmony with society, link diverse values and achieve a sustainable society, and advances business with an awareness of the environment (E), society (S) and governance (G), thus promoting ESG management. By further accelerating its ESG management, the Group will realize Society 5.0, which the Japanese government has been advocating, and contribute significantly to achieving the SDGs.

* The initiatives covered in this press release are contributing to two of the UN’s SDGs.

Goal 9 Industry, Innovation and Infrastructure
Goal 11 Sustainable Cities and Communities