Mitsui Fudosan Invests in Hibiya Matsumotoro and Concludes Agreement on Business Alliance
- Aiming to Spur Further Development of the Hibiya Area
Through Collaboration in Areas Such as Food and Entertainment
March 31, 2021
Mitsui Fudosan Co., Ltd.
Hibiya Matsumotoro Co., Ltd.
Tokyo, JAPAN – March 31, 2021 – Mitsui Fudosan Co., Ltd., a leading global real estate company headquartered in Tokyo, and Hibiya Matsumotoro Co., Ltd. (Headquarters: Chiyoda-ku, Tokyo; President Ayano Kosaka; “Hibiya Matsumotoro”) announced today that the two companies concluded an agreement on March 22, 2021 to establish an even stronger business alliance for the future, along with Mitsui Fudosan making an investment in Hibiya Matsumotoro. With this agreement and investment, the two companies aim to jointly develop Hibiya Park and the local areas further and to create even more value in the Hibiya area.
Both companies have established firm roots in the Hibiya area for over more than a century, helping to shape and set new cultural trends. Leveraging this experience, the two companies will disseminate food culture, which is vital to the creation of attractive neighborhoods, and provide valued experiences such as entertainment centered on films and theater. In anticipation of the next 100 years, the two companies will continue to promote the creation of a neighborhood that “improving with age” by constantly evolving as time passes, with the aim of spurring further development of the Hibiya area.
Hibiya Matsumotoro flagship store in Hibiya Park
Tokyo Midtown Hibibya
■ About Hibiya Matsumotoro
Hibiya Matsumotoro was founded in 1903 at the same time as the opening of Hibiya Park. The overarching concept of Hibiya Park was to introduce “three features of Western lifestyle and culture (Western flowers, food, and music)” to the Japanese people. Hibiya Matsumotoro represented one of those features, namely Western food. The 10 Yen Curry Charity Sale and Marunouchi Bon-odori Dance Festival are held every year at Hibiya Park, and have become popular Hibiya Park traditions. Hibiya Matsumotoro has continued to serve its guests over the years and is dearly appreciated by one and all.
Shokichi Umeya, the great-grandfather of Ayano Kosaka, the current president of Hibiya Matsumotoro, was one of the founders of Nippon Katsudo Shashin Corporation, the forerunner of the present-day Nikkatsu Corporation, a film production company. In this role, Mr. Umeya led Japan’s film industry in its early years and built his fortune through the success of the film business. Mr. Umeya is known for using his personal wealth to support Sun Yat-sen, a central figure in the Chinese Revolution. Hibiya Matsumotoro was the venue for meetings between Mr. Umeya and Sun Yat-sen during his stay in Japan. In 2008, then-Chinese President Hu Jintao attended an informal banquet hosted by former Japanese Prime Minister Yasuo Fukuda at Hibiya Matsumotoro. In these and other ways, Hibiya Matsumotoro has set the stage for events of historical importance.
■ Relations Between Mitsui Fudosan and Hibiya
In the Hibiya area, the Yurakucho Mitsui Meeting Place Old Building (Japanese Pavilion) and the Yurakucho Mitsui Meeting Place (Western Pavilion) were established in 1894 and 1898, respectively. These buildings were not only used for meetings of Mitsui’s business departments, but they also served as venues for public diplomacy with important guests from around the world. Thereafter, the Sanshin Building and the Hibiya Mitsui Building were completed in 1930 and 1960, respectively. These buildings became important centers of business for Mitsui Fudosan.
In March 2018, Mitsui Fudosan opened TOKYO MIDTOWN HIBIYA as a redevelopment project for those buildings. TOKYO MIDTOWN HIBIYA is a mixed-use facility featuring TOHO CINEMAS Hibiya and a retail complex including approximately 60 business establishments, each of which has a highly individual character. Since its opening, TOKYO MIDTOWN HIBIYA has attracted large numbers of visitors. Hibiya provides unique neighborhood value in three ways. First, it offers an “In the Park” ambience, as a neighborhood that enriches people’s hearts and minds through a connected space that seamlessly integrates parks, open spaces and buildings. Second, it offers “Entertainment,” as a neighborhood that provides new arts, culture and entertainment experiences. Third, it offers “Elegance,” as a neighborhood with abundant cultural inspiration that draws in adults with a discerning eye for what is true and authentic. At Hibiya, Mitsui Fudosan facilitates the convergence and mixing of a variety of cultures, sensibilities and talent from around the world. Through these efforts, it is developing a neighborhood that creates new, future-oriented experiences and values.
Yurakucho Mitsui Meeting Place Old Building
■ Background to Consent on Investment and Conclusion of Agreement
Mitsui Fudosan has been working to create urban vitality with seamlessly integrated parks and neighborhoods throughout Japan. In the process, Mitsui Fudosan has been participating together with Hibiya Matsumotoro, a restaurant facility that represents the essence of Hibiya Park, in forums such as Hibiya Park Meetings and the Hibiya Music Festival Executive Committee.
Both Mitsui Fudosan and Hibiya Matsumotoro seek to preserve the brand value of Hibiya Matsumotoro and its cultural value as a stage for historical events in modern history, and to continue to evolve together with Hibiya Park and the Hibiya neighborhood into the future. They also aim to generate urban vitality in the Hibiya area starting from TOKYO MIDTOWN HIBIYA and build a neighborhood network, as advocated by Mitsui Fudosan. These aspirations were aligned, leading the two parties to consent to an investment by Mitsui Fudosan in Hibiya Matsumotoro and the assignment of management personnel* from the former to the latter.
Moreover, the two companies concluded an agreement to strengthen their alliance, as part of efforts to create further value in the Hibiya area. This will be done by enhancing the unique value of Hibiya Matsumotoro by leveraging Mitsui Fudosan’s knowledge and expertise, along with providing access to the historical legacy of President Kosaka and Hibiya Matsumotoro in Japan’s modern history, and their cultural legacy in areas such as film and food culture.
Since the investment was made on March 22, 2021, Hibiya Matsumotoro has become an affiliated company of Mitsui Fudosan.
* Mr. Yoshiyuki Kashima, the current president of Tsunamachi Mitsui Club, will become a director on April 1. Tsunamachi Mitsui Club is a guesthouse for member companies of the Mitsui Group.
■ Comment from Hiroki Saito, Managing Officer and General Manager of Hibiya Urban Planning and Development Department, Mitsui Fudosan Co., Ltd.
“We are delighted to be forming an alliance with Hibiya Matsumotoro, which has continued to evolve together with Hibiya Park over more than 100 years. Mitsui Fudosan has so far promoted future-oriented neighborhood creation together with local community members through activities such as establishing roots in the Hibiya area and developing TOKYO MIDTOWN HIBIYA. It can be said that Hibiya Matsumotoro is synonymous with the history of the Hibiya neighborhood itself. We believe that its brand value developed over many years and its cultural value as a stage for historical events should continue to be preserved. In future, we expect to drive improvements in the value and appeal of the entire Hibiya area, including Hibiya Park, along with conducting projects such as neighborhood creation in the Uchisaiwaicho 1-Chome district, which is being considered by Mitsui Fudosan and related parties.”
■ Comment from Ms. Ayano Kosaka, President, Hibiya Matsumotoro Co., Ltd.
“I have given serious thought to preserving Hibiya Matsumotoro, along with Hibiya Park, over the next 100 years. This site embodies the special, irreplaceable moments enjoyed by our customers here over the past 117 years, and the aspirations of our predecessors and employees, who have carefully handed down this legacy from the past. We must ensure that our food culture and Hibiya’s history, both of which have continued since the Meiji era (1868-1912), is handed to future generations. I’m confident that doing so will pave the way for increasing the value of Hibiya, a truly unique area. I look forward to the opportunity to develop the Hibiya Park and Hibiya area together with Mitsui Fudosan.”
(Examples of Main Initiatives)
■ First Collaborative Initiative: Hibiya Festival 2021, a Theater Festival in the Hibiya and Ginza Area
The Hibiya Festival, a theater festival, has been held since 2018 as an event befitting Hibiya’s popularity as the “Broadway of Japan.” In this festival, Hibiya Matsumotoro will provide the venue for the Machinaka Theater program and will host the Tokyo Nikikai Opera Foundation Green Opera Stage. In addition, video content is scheduled to be streamed via the online site, Hibiya Fes Channel. For this video content, a traditional Japanese noh play and opera performance staged on the Hibiya Matsumotoro terrace, with Hibiya Park as borrowed scenery, will be shown to the public.
Going forward, Mitsui Fudosan and Hibiya Matsumotoro will continue to collaborate repeatedly on a variety of events such as the Hibiya Cinema Festival and beer gardens, thereby promoting activities to bring new life and energy to the Hibiya area.
Hibiya Matsumotoro terrace
■ Mitsui Fudosan Group’s contribution to SDGs
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 Goal 11 -Sustainable Cities and Communities- of the UN’s SDGs.