Mitsui & Co., Ltd. ("Mitsui", head office: Tokyo, President and CEO: Masami Iijima) decided to acquire the land and building of "Ohtemachi PAL Building" ("the Property") from Promise Co., Ltd. ("Promise") jointly with Mitsui Fudosan Co., Ltd. (head office: Tokyo, President and CEO: Hiromichi Iwasa). Mitsui will acquire 50% portion of joint ownership of the Property for ¥36.0 billion, which will be leased to Promise for their headquarter use.
| Name of asset | Ohtemachi PAL Building |
|---|---|
| Address | 2-4, Ohtemachi 1-chome, Chiyoda-ku, Tokyo, Japan |
| Land area | 2,760.39m2 |
| Total floor area | 27,923.18m2 |
| Completion date | 1961 |
| Type of ownership | 50% portion of joint ownership of the Property |
| Acquisition Price | ¥36.0 billion |
| (1) Corporate name | Promise Co., Ltd. |
|---|---|
| (2) Location of head office | 2-4, Ohtemachi 1-chome, Chiyoda-ku, Tokyo, Japan |
| (3) Representative | Ken Kubo, President and Representative Director, CEO |
| (4) Capital | ¥80,737 million |
| (5) Business activities | Consumer finance |
| March 14, 2011 | Execution of agreement for the acquisition of the Property (scheduled) |
|---|---|
| March 22, 2011 | Settlement and handover (scheduled) |
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