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Next, I will introduce our commercial development projects that we have added as future major projects.
First, I will explain the Tamagawa 2-Chome Project (tentative name) shown on the upper left.
This is a development project implemented near Futako Tamagawa Station, which used to be owned by the Company and was leased as the office of the Futako Tamagawa (East District 2) Urban Land Redevelopment Union.
We are planning a low-rise, multi-tenant commercial facility that is scheduled to commence operation in the spring of 2017.
Shown under this project is the Ginza 1-Chome Project (tentative name).
This is a conversion-type commercial building project, in which we have acquired an existing building that was leased as an office building to convert it into a commercial building through comprehensive renovation.
It is scheduled to commence operation in the spring of 2017.
This is the Shinsaibashi 2-Chome Project (tentative name), for which we do not have a rendering. It is a project involving opening a commercial facility located in the Shinsaibashi-suji shopping street in Osaka, which bustles with foreign tourists to Japan. The facility is planned to commence operation in 2017.
Next, this is the Shimbashi 3-Chome Project (tentative name).
It is a project involving the development of a hotel near Shimbashi Station. Candeo Hotels, a chain of business hotels, will be the tenant.
The facility is scheduled to commence operation in the winter of 2017.
Finally, this is the Higashi Ikebukuro 1-Chome Cinema Complex Project, which is scheduled to commenced operation in fiscal year 2019.
It is a project involving the development of a commercial facility on Sunshine Street, which is located near the east exit of Ikebukuro Station.
We plan to develop one of the largest cinema complexes in the Tokyo Metropolitan Area by cooperating with Sasaki Kogyo, which operates 13 cinema complexes in Japan including Cinema Sunshine Ikebukuro.
Of the above five properties, the Tamagawa 2-Chome Project (tentative name) will be a fixed asset investment, while the other four will be investments in inventory assets.
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