Sojitz Invests in Residence Tokyo, a Company Developing Residences and Lodging Businesses That Can Accommodate Diverse Clientele
Nov. 21, 2019
Sojitz New Urban Development Corporation
Sojitz Corporation (“Sojitz”) recently invested in Residence Tokyo Co., Ltd., a leading player in the Tokyo monthly rental apartment market (Head Office: Shibuya-ku, Tokyo; Representative Director: Koji Nozaka; “Residence Tokyo”) through a corporate venture capital fund (CVC1) established by Sojitz in the U.S. in January 2019, and is planning to pursue collaborative businesses with the company.
*1：“Sojitz Establishes Corporate Venture Capital Fund” Sojitz Corp. Press Release, 29 Jan. 2019.
The number of mid- and long-term residents in Japan from other countries continues to increase, and large-scale events such as the Tokyo Olympics and Paralympics are expected to contribute to this trend. In response, Residence Tokyo is constructing a network of furnished apartments and residences that offer not only currently existing rental apartment amenities, but also enhanced hospitality services such as multi-lingual capabilities and virtual concierge services. Residence Tokyo’s network consists of around 700 rooms in Tokyo and around 7,500 rooms total throughout Japan.
Through this investment, Sojitz seeks to strengthen the ability of Sojitz New Urban Development Corporation’s rental properties to accommodate diverse clients as part of its policy to pursue more complete service offerings. Furthermore, Sojitz aims to create new customer value through collaborative businesses with Residence Tokyo in the fields of real estate property operations and management, rental apartment development and construction, small-lot real estate investment, and private lodging.
In light of the expected future increase in the number of foreign residents of Japan, Sojitz Group seeks to contribute to society by offering a variety of services aimed at enabling them to live harmoniously in Japanese society.
Company Overview – Residence Tokyo Co., Ltd.
|Head Office||1-55-14 Scent Hills Yoyogi 1F, Yoyogi, Shibuya-ku, Tokyo|
|Ownership||・Managing members of Residence Tokyo Co., Ltd.
・TEPCO Frontier Partners, LLC
・Evolable Asia Corp.
・Tokyo Fudosan Holdings Corporation’s CVC
・Chibagin Capital Co., Ltd.
|Representative Director||Koji Nozaka|
|Main Business||Monthly apartment planning, development, management, and operations; hotel business|