Fuyo General Lease and Sojitz Commerce Development Acquire Joint Trust Beneficiary Rights for Olinas Kinshicho (Olinas Mall/Olinas Core) in Sumida City, Tokyo

Fuyo General Lease Co., Ltd. (President: Yasunori Tsujita; “Fuyo Lease”) and Sojitz Commerce Development Corporation (Representative Director: Tetsuo Kondo; “SCDC”) have acquired joint trust beneficiary rights (Fuyo Lease: 80%, SCDC: 20%) for the Olinas Kinshicho shopping center in Sumida City, Tokyo.

Located near Kinshicho Station, Olinas Kinshicho (Olinas Mall/Olinas Core) opened as mall-type shopping center in April 2006. The mall’s name originates from the Japanese expression, olinas, which means to weave together. Olinas Kinshicho is built on this concept of bringing different elements together for the community, and the shopping center has become a popular destination in the neighborhood.

Olinas Kinshicho has approximately 100 tenants with anchor tenants that attract a steady stream of customers through their broad appeal, which include: Food Square Kasumi (supermarket), Super Sports Xebio (sporting goods), Yamada Denki (home appliances), Nitori (furniture/interior decor), Toho Cinemas (cinema complex), Taito F Station (entertainment), Toys “R” Us (toys), and Babies “R” Us (baby products). In addition, Olinas Kinshicho plans to partner with neighboring facilities such as Kinshi Park and Sumida City Gymnasium to create enticing spaces and experiences for visitors.
 

Fuyo Lease has regarded  “real estate” as a strategic area within its medium-term management plan “Frontier Expansion 2021.” Olinas Kinshicho will be the second shopping center Fuyo Lease will jointly operate with Sojitz Group, following the Nasu Garden Outlet in Nasushiobara, Tochigi.

Through participation in this real estate project, Fuyo Lease seeks to offer greater convenience and enrich people’s lives.

SCDC works to raise the value of shopping centers, extending beyond the company’s original property management function to both own and provide management for shopping centers. This is SCDC’s third time acquiring trust beneficiary rights following Pieri Moriyama (Moriyama, Saga) in November 2018 and Nasu Garden Outlet (Nasushiobara, Tochigi) in May 2019.

Sojitz and SCDC will apply their past shopping center management experience to this project and take an active role in shopping center operations in order to maximize Olinas Kinshicho’s (Olinas Mall/Olinas Core) full potential, promote further development of the shopping center, and invigorate local communities.

[Related Information]

Company Overview – Fuyo General Lease Co., Ltd.

Company Overview – Sojitz Commercial Development Corporation

Shopping Center Overview

[For questions regarding this press release, contact:]
Fuyo General Lease Co., Ltd.　　　TEL：+81-03-5275-8891（Corporate Communications Office – Ms. Kimura /Mr. Watanabe）
Sojitz Corporation   Public Relations Dept.　　　　TEL：+81-03-6871-3404
Sojitz Commercial Development Corporation　　  TEL：+81-03-4213-7332