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This is about our decision to sell a portion of our co-ownership interest in Shibuya Sakura
Stage.
On February 8, 2024, we decided to sell the equivalent of a 49% co-ownership interest in the
sectional ownership of the office portion of SHIBUYA Tower. This sale is part of the Partner
Co-Creation business policy set forth in the long-term management policy, from the perspective of
expanding the assets involved and improving efficiency through the use of other parties'
capital.
The subject property will be sold to a special purpose company in which a domestic institutional
investment fund and Tokyu Land Corporation will make a silent partnership investment.
In addition, Tokyu Land Capital Management Corporation, a consolidated subsidiary of the Company,
will be entrusted with asset management services by the special purpose company.
The sale is part of the Shibuya Sakura Stage SHIBUYA Tower, and Tokyu Land Corporation will continue
to own the portion of the building other than the portion subject to the sale. Tokyu Land
Corporation will continue to operate the tower, including the portion subject to the sale.
The proceeds from the sale are expected to be recorded in the consolidated financial results for the
fiscal year ending March 2025 and March 2026.
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