Mitsui Fudosan's
History

The History of Mitsui Fudosan's
Neighborhood Creation
The history of Mitsui Fudosan's neighborhood creation is the history of solving social problems and creating new value.
Here we introduce the path Mitsui Fudosan has taken down through the decades as it has remained out in front of the times.

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  • 1670
  • 1940
  • 1960
  • 1970
  • 1980
  • 1990
  • 2000
  • 2005
  • 2010

1673

Opening of
Echigo-ya clothing store

by Takatoshi Mitsui

The Echigo-ya clothing store was founded in the Nihonbashi area of Edo (present day Tokyo) by Takatoshi Mitsui during Japan's Edo period (1603-1868). The store experienced rapid growth by adopting a revolutionary approach to business: fair and affordable cash transactions. The roots of Mitsui Fudosan's enterprising spirit and dedication to customers can be found here. Echigo-ya subsequently continued to grow and expand and eventually became Mitsui Company.

Founder Takatoshi Mitsui (Mitsui Bunko archives)Founder Takatoshi Mitsui
(Mitsui Bunko archives)

1914

Establishment of
Mitsui Company
and its real estate section

Mitsui Company, Japan's first holding company, was founded in 1909, and in 1914 its real estate section was established to manage land and buildings owned by the Mitsui family.

1929

Completion of
Mitsui Main Building

In the wake of devastation wrought by the Great Kanto Earthquake of 1923, instructions were given to construct a building that could withstand an earthquake even twice as powerful, and the Company went to work on building a structure that would be world-class in its size, technologies and cultural aspects. The project took 964 days and a crew of 588,193 people, and it had a major impact on building construction in Japan. The building is a designated Important Cultural Property of Japan and is still in use today.

The building under constructionThe building under construction

1941

Establishment of
Mitsui Fudosan, Co., Ltd

The real estate section, which managed the property holdings of Mitsui Company, was established as a separate company in 1941 and given the name Mitsui Fudosan Co., Ltd.

Company interior at the time of its establishmentCompany interior
at the time of its establishment

late 1950's

Start of Keiyo Rinkai district land reclamation project

In the late 1950's, with Japan's era of high economic growth underway, Mitsui Fudosan commenced a land reclamation project in Tokyo's bayside area. The project would greatly contribute to the formation of large-scale manufacturing complexes and industrial parks. As its organizer, the project put the Company on the path to becoming a real estate developer. Beginning in the 1970's, new homes and offices were built on the site, and today it is a place where numerous people live, work and visit.

1960

Support for the opening
of Tokyo Disneyland

In 1960, Mitsui Fudosan participated in the founding of Oriental Land Co., Ltd., the operating company for Tokyo Disneyland. The company negotiated with the Walt Disney Company and eventually opened the park in 1983, the first Disneyland outside the U.S. The preparations were protracted, but the opening marked the start of a new age of entertainment in Japan.

Primary contractor:
Oriental Land Co., Ltd. © Disney

1968

Completion of
Kasumigaseki Building

Completed in 1968, the Kasumigaseki Building was Japan's first skyscraper. In the early 1960's before the building was finished, Tokyo was facing a variety of problems caused by rapid urban development, including diminishing green space and available land. The Kasumigaseki Building was built with a view to renewing the human element of the city. It was a new concept: make the building scrape the sky to secure park space and places for people to relax down below. A number of innovative industrial technologies were developed to make it possible, including curtain walls and high-speed elevators. The building's functionality has since been further improved through repeated maintenance projects and renovations, and even today it still successfully creates appealing urban space.

Roof-laying ceremonyRoof-laying ceremony

1971

Completion of Mita Tsunamachi Park Mansion

Mita Tsunamachi Park Mansion was Japan's first high-rise condominium and its third high-rise structures overall behind Tokyo Tower and the Kasumigaseki Building. It created a major stir at the time, as people were truly excited about “living in the air.” Selling the view was also a groundbreaking marketing concept. The property showed the future possibility of creating environments through high-rise residences.

1980

Completion of Sun City

The completion of the Sun City condominium in 1980 gave rise to a new development concept for Mitsui Fudosan: improving with age. Harmony with nature, people connecting with people, and a sense of community were put at the core of the new development, and based on the conviction that a community could be created where people would come together and interpersonal connections would grow and develop, just like the way a forest grows and develops, tree-planting events were held with residents, and around 50,000 trees were planted. The site today is like a community forest and beloved by residents as a place for community activities. The concept of improving with age has been passed down to all Mitsui Fudosan projects.

Sun City at the time of its completionSun City
at the time of its completion

1981

Opening of
LaLaport TOKYO-BAY

LaLaport was Japan's first American-style shopping center. The concept was to provide a place for spending quality time, not just shopping, so the complex was designed with a movie theater, culture center, and daycare facilities. It has been expanded and renovated a number of times based on the needs of customers and the times. As the hub of the local community, LaLaport TOKYO-BAY plays a central role in the area's growth and neighborhood creation.

1984

Opening of Halekulani

Since 1972, the Mitsui Fudosan Group has developed various projects around the world. In 1980, it established Halekulani Corporation, a subsidiary of Mitsui Fudosan America, and in 1984 it fully renovated and reopened the Halekulani, one of Hawaii's most esteemed hotels. The hotel has been directly managed by Mitsui Fudosan ever since. A second Halekulani, Halekulani Okinawa, is scheduled to open in 2019.

1993

Full completion of Okawabata River City 21, West Block

Okawabata River City 21 in the Tsukudajima area of Tokyo's Chuo Ward, which still has as an old town feel, drew attention as a public-private neighborhood creation project aimed at solving some of the problems the city faced, including sharply rising land prices and shrinking resident populations. A pioneering project in waterfront development, the project proposed living in the city center as a new lifestyle.

1995

Opening of MITSUI OUTLET PARK OSAKA TSURUMI

The outlet mall, which was first conceived in the U.S., drew attention in the 1980's as a new format for commercial complexes, and in 1995 Tsurumi Hana Port Blossom (now MITSUI OUTLET PARK OSAKA TSURUMI) opened as Japan's first full-fledged outlet mall. It was without precedent in Japan at the time, so the Company had some difficulty attracting tenants, but the approach of selling popular brand products direct from the factory at low prices garnered attention, and the project has since generated an entire series of Mitsui Outlet Parks throughout Japan.

2001

Establishment of
Nippon Building Fund Inc.

After the collapse of Japan's bubble economy, the real estate industry sought out new business models, and one promoted by Mitsui Fudosan was real estate securitization. The company established Nippon Building Fund Inc. and listed its shares on the Tokyo Stock Exchange Real Estate Investment Trust Securities Market (J-REIT). The fund was a pioneer in real estate investment trusts.

2004

Opening of
COREDO Nihonbashi

The opening of COREDO Nihonbashi in 2004 inaugurated the launch of the Nihonbashi Revitalization Plan, a public-private-community project based on the concept of “Proceeding to Create while Retaining and Reviving” to revitalize the Nihonbashi neighborhood and generate new appeal. In the first stage of the plan, the Company subsequently promoted a mixed-use development plan featuring a fusion of commercial and office applications.

2007

Opening of
TOKYO MIDTOWN

When Mitsui Fudosan bid on the former site of the Japan Defense Agency, where TOKYO MIDTOWN is now located, the asset deflation that followed the collapse of the bubble economy was still ongoing. In developing TOKYO MIDTOWN, Mitsui Fudosan aimed to create an unprecedented neighborhood through public-private cooperation to fuse work, living, entertainment and relaxation, draw diverse people and companies from around the world, and serve as the stage for creating new value, all for the broader goal of dramatically increasing the competitiveness of Tokyo as an international city. Since its opening in 2007, Mitsui Fudosan has carried out neighborhood creation guided by a vision of creating and concentrating “Japan Value” and communicating it to the world.

The Big Canopy, one of the symbols of TOKYO MIDTOWNThe Big Canopy,
one of the symbols

of TOKYO MIDTOWN

2014

Kashiwa-no-ha Smart City
in full operation

Since the Tsukuba Express started operating in 2005, Mitsui Fudosan has worked on neighborhood creation around Kashiwa-no-ha Campus Station, the first stage of the Company's Kashiwa-no-ha Smart City development project. The grand opening of Gate Square, the city's core, signals the full-fledged operation of this mixed-development Smart City, which concentrates multiple urban functions, including housing, retail, office, lodging and event space. Based on the concepts of environmental harmony, health and longevity, and new industry creation, Mitsui Fudosan, through public-private-academia collaboration, is working to create a district that generates a vision of the world's future.

Opening of COREDO Muromachi 2
and COREDO Muromachi 3;
Completion of New Fukutoku Shrine

COREDO Muromachi 2 and COREDO Muromachi 3 feature enhanced retail space and eateries along with newly added residential properties and a movie theater. In addition, renovating the main building of Fukutoku Shrine, which dates back over 1,000 years, has generated renewed activity around Edo Sakura-dori and Naka-dori streets. The project also marked the start of the second stage of the Nihonbashi Revitalization Plan. Based on the four concepts of industry creation, neighborhood creation, community cohesion and renewal of aqua metropolis, the plan aims to develop the district in both its tangible and intangible aspects.

2017

Launch of WORK STYLING

WORK STYLING is a new corporate service launched in 2017 to provide flexible working styles not limited by time or place. The idea is to develop offices nationwide that workers can use freely anytime and anywhere matched to their working styles, while existing alongside the conventional way of working at a single headquarters. The service promotes more diversified work formats for employees while helping to raise their productivity.

Opening of
Mitsui Shopping Park &mall

Mitsui Shopping Park &mall is an online shopping site linked to brick-and-mortar stores that provides the benefits of both shopping at a physical store and shopping online. It was established in 2017 in response to the rapid changes taking place in consumption patterns in recent years. Through new services combining brick-and-mortar and online shopping, Mitsui Shopping Park &mall works to create new shopping value together with customers and retailers.

2018

Opening of
TOKYO MIDTOWN HIBIYA

TOKYO MIDTOWN HIBIYA, a large mixed-use commercial complex with office, retail and business collaboration space was opened to create an urban mixed-use neighborhood reflecting the personality of the district. Adding diverse urban functions to the potential of Hibiya as an area is generating new experiences and value oriented to the future.

Completion of 55 Hudson Yards

55 Hudson Yards is one of a cluster of office buildings that make up Hudson Yards, a major mixed-used development in Manhattan. It represents the largest ever office building project in terms of floor area by a Japan-affiliated developer in Manhattan. Along with 50 Hudson Yards (provisional name) currently under development, the project is positioned as a flagship property for Mitsui Fudosan's overseas business going forward. Using the project as a springboard, the Company plans not only to expand its overseas business but leverage the mixed-use neighborhood creation know-how it has cultivated in Japan to raise the added-value of local projects.

2019

Nihonbashi Muromachi Mitsui Tower Completed
COREDO Muromachi Terrace Opens for Business

Work was completed on the Nihonbashi Muromachi Mitsui Tower, a flagship project of the second stage of the Nihonbashi Revitalization Plan, and large-scale, mixed-use building comprised of offices, retail properties, a plaza space, hall and more.
With completion of Nihonbashi Muromachi Mitsui Tower, the Nihonbashi Revitalization Plan enters its third stage.
While continuing to be guided by the concept of Proceeding to Create While Retaining and Reviving and focus on the four key areas of Industry Creation, Neighborhood Creation, Coexistence with the Area and Renewal of the Aqua Metropolis, in the third stage, Mitsui Fudosan will promote an open style of neighborhood creation that encompasses a broad range of people.

Halekulani Okinawa Opens for Business

Leading Hawaii Luxury Hotel Halekulani to Expand into Okinawa.Halekulani Okinawa will open in Onna Village on the main island of Okinawa, which has some of Japan’s most beautiful beaches.
Halekulani Okinawa will inherit the accumulated traditions and spirit of Halekulani, while making full use of the attractions of Okinawa, such as its abundant nature and culture, aiming to create a one-of-a-kind luxury resort.

Creating Neighborhoods, Creating the FutureMitsui Fudosan has worked and will continue to work to create neighborhoods for the future through the ceaseless creation of new value.

Creating Neighborhoods, Creating the FutureMitsui Fudosan has worked and will continue to work to create neighborhoods for the future through the ceaseless creation of new value.

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