Nihonbashi 1-Chome Project---Construction under Way on July 11

Multipurpose office/commercial building project on site of former Tokyu Department Store in Nihonbashi

July 10, 2001
Mitsui Fudosan Co., Ltd.
Tokyu Corporation
Tokyu Land Corporation

On July 11, 2001, work will begin on the "Nihonbashi 1-Chome Project," a multipurpose office/commercial building project on the site of former Tokyu Department Store in Nihonbashi. The project is being jointly developed by a consortium of three companies---Mitsui Fudosan Co., Ltd., Tokyu Corp., and Tokyu Land Corp.

The three-company consortium will use the Land Purchase/Transfer Business system, under the auspices of the Organization for Promoting Urban Development, to construct the building, which will consist of 20 stories above ground and four below. The multipurpose building will be designed for office and commercial use. It will represent a new landmark in the Nihonbashi area and it is expected to spark renewed economic activity in the area. Completion is scheduled for the end of January 2004.

The building's exterior has been designed by William Pedersen, principal and chief designer of Kohn Pedersen Fox Associates. Mr. Pedersen has designed numerous head office buildings for international financial institutions. They include the headquarters of the World Bank and the European headquarters of Goldman Sachs. The exterior will feature a combination of different materials, such as stone, glass, and aluminum, to provide a progressive, yet distinguished feeling. The southern aspect will feature a bow-shaped façde that emphasizes transparency yet features silhouettes filled. The appearance of the façde will change depending on increases and decreases in light, thanks to the addition of delicate fins. The southern façde will not only look good but be functional as well, bringing natural light right into the office spaces to provide a comfortable environment for workers.

Each standard floor in the office section of the building will have 4.5 meters in height, and will feature more than 20 meters of pillar-free space extending inward from the exterior. Each floor will have around 3,000 square meters of space---making it one of the most spacious buildings in Japan. Offices on standard floors will be equipped with 150mm OA flooring and have 2.8-meter ceilings. The 7th, 8th, and 9th floors will house dealing rooms, each with 450mm OA flooring (capable of incorporating floor-blowing air-conditioning) and 3.4-meter ceilings.

The building has also been designed with the environment in mind. It will have a rooftop garden and anti-heat-island functions.

Thanks to its advanced design and specifications, the building has already attracted the Merrill Lynch Group as the main tenant. In addition, the plan is to attract commercial tenants to occupy the first-level basement and floors 1-5 of Section A and floors 1-2 of Section B. This is expected to help revitalize the atmosphere of the Nihonbashi district. Moreover, the 30-meter atrium (equivalent to six stories) will house abundant greenery, providing visitors with a place to relax.

Design will be carried out by Kohn Pedersen Fox Associates, NIHON SEKKEI, INC., and TOKYU ARCHITECTS & ENGINEERS INC. Construction will be handled jointly by Shimizu Corporation, Mitsui Construction, and Tokyu Construction.

Attachments

1. Project Overview
2. Overview of 3-Company Consortium
3. Location, External View

Project Overview

Name	Nihonbashi 1-Chome Project
Lead managers	Mitsui Fudosan Co., Ltd., Tokyu Corp., and Tokyu Land Corp.
Site address	4, 6-1, Nihonbashi 1-chome, Chuo-ku, Tokyo
Site area	8,185.23m2 (Section A: 5,611.21m2; Section B: 2,574.02m2)
Total planned floor space	Approx. 98,300m2 (Section A: 93,000m2; Section B: 5,300m2)
Uses	Offices, retail stores, car park
Construction	Steal-framed, steel framed reinforced concrete, reinforced concrete
Section A	20 stories above ground, 4 below, plus 1-story penthouse
Section B	2 stories above ground, 2 below
Building height	Approx. 120m (maximum)
Parking	Approx. 250 vehicles
Design	Kohn Pedersen Fox Associates PC, NIHON SEKKEI, INC., and TOKYU ARCGUTECH & ENGINEERS INC.
Note	William Pederson, principal and chief designer of Kohn Pedersen Fox Associates, is a globally prominent name in architectural design. Famous works by Mr. Pedersen include 333 Wacker Drive, Chicago. He has also designed numerous buildings for international financial institutions, including World Bank headquarters (Washington DC), the European headquarters of Goldman Sachs (London), DG Bank headquarters (Frankfurt), and First Hawaiian Center (Honolulu).
Construction	Jointly undertaken by Shimizu Corp.; Mitsui Construction Co., Ltd.; Tokyu Construction Co., Ltd.
Construction period	July 2001 to January 2004.

Overview of 3-company consortium (as of March 31, 2001)

Mitsui Fudosan Co., Ltd.

Address	1-1, Nihonbashi-Muromachi 2-chome, Chuo-ku, Tokyo
Founded	July 1941
Share capital	¥134.4 billion (As of March 31, 2001)
Representative	Hiromichi Iwasa (president)
Employees	1,304 (As of March 31, 2001)
Main business	Leasing of buildings, shopping centers, hotels, etc.; sales of detached houses and condominiums

Tokyu Corporation

Address	5-6, Minami-Nampeidai, Shibuya-ku, Tokyo
Founded	September 1922
Share capital	¥107.5 billion (As of March 31, 2001)
Representative	Kiyofumi Kamijo (president)
Employees	4,241 (As of March 31, 2001)
Main business	Railway operation, real estate sales, real estate rental, hotel operation, recreational services

Tokyu Land Corporation

Address	Shin-Nampeidai Tokyu Bldg., 21-2, Dogenzaka 1-chome, Shibuya-ku, Tokyo
Founded	December 1953
Share capital	¥32.1 billion (As of March 31, 2001)
Representative	Masastake Ueki (president)
Employees	582 (As of March 31, 2001)
Main business	Real estate sales, real estate rental, facility operation, asset utilization, insurance agency

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