Mitsui & Co., Ltd. ("Mitsui", Head Office: Tokyo, President and CEO: Tatsuo Yasunaga), Atre Co. Ltd. ("Atre", Head Office: Tokyo, President: Toshiro Ichinose) , and 長僑投資開發股份有限公司("Breeze", Head Office: Taipei, Taiwan; Chairman: Henry Liao) have reached an agreement to jointly promote shopping center business and railway station and commercial complex development and operation business in Taiwan ("Business"), and concluded related contracts on August 8, 2017. Prior to the conclusion of said contracts, Atre and Mitsui newly established Atre International Co., Ltd. ("AICO"). AICO and Breeze will establish a joint venture "Breeze Atre Holding (provisional name)".
The Business will involve the development and operation of railway stations and commercial complexes and will fully utilize the individual strengths and capabilities of the three partners - Breeze, Atre, and Mitsui - and featuring the Atre brand in the Taiwanese market, where people are very fashion and trend conscious and have a keen interest in Japanese culture. For Atre, the Business will provide an opportunity for its first entry into an overseas market. The Business will leverage the brand power of Breeze and its client network in Taiwan, to realize a "'High sense & daily' Atre style for enhancing everyday life", which is being promoted by Atre in Japan, and aims to create a new trend in the Taiwanese market, which is currently undergoing a transition from mono consumption (consumption based on material possessions) to koto consumption (consumption based on lifestyle).
As its initial project, the Business is planning to roll out Atre floors in Breeze Nanshan, which Breeze plans to open in the fall of 2018 in the Xinyi District of Taipei City, an area at the forefront of fashion in Taiwan, with abundant upscale housing, offices, luxury commercial facilities, and hotels. Breeze Nanshan is a large-scale commercial complex currently under construction on prime land adjacent to the Taipei 101/World Trade Center Station and the Taipei 101 tower, which is a landmark in Taipei City. With this project as a starter, Breeze Atre Holding intends to promote its "quality lifestyle zone", centered on Atre-selected brands. Through the business at Breeze Nanshan, we will establish premier brand status for Atre in the Taiwanese market, and progressively develop and operate shopping centers and station commercial complexes in Taiwan.
Breeze is a premier commercial developer that operates eight commercial complexes, including luxury department stores, and has a strong influence on Taiwanese fashion and mode, as a result of its unique brand and customer strategies. Breeze operates large-scale stores in prime areas such as Songshan district and Xingi district, as well as commercial complexes at Taipei Station (THSR/TRA) and Taipei Main Station (MRT).
Atre is the East Japan Railway Company ("JR-East") group's flagship company for managing station commercial complexes. Atre develops and operates 43 station commercial complexes with a focus on the Atre brand at many stations, including Ebisu, Meguro, Shinagawa, and Kichijoji. Moreover, Atre actively supports the retail business of JR-East at railway station buildings and shops within railway stations.
Mitsui has engaged in supplying a high-speed rail system in Taiwan, and in recent years, has participated in passenger railway operations in England and other nations. Through our participation in the station commercial complex business, we will develop and operate passenger railway business and station business in a synergistic manner.
Company Profile of Atre International
|Company Name||Atre International Co., Ltd.|
|Head Office||Shibuya-ku, Tokyo, Japan|
|Shareholders||Atre Co., Ltd.: 51%
Mitsui & Co., Ltd.: 49%
|Business Activities||Holding company for operating overseas shopping centers that feature the Atre brand|
Company Profile of Breeze Atre Holding
|Company Name||Breeze Atre Holdings (English Name); 微風艾妥列控股（股）公司 (Chinese Name) (*both names are provisional)|
|Head Office||Taipei City, Taiwan|
Atre International Co., Ltd.: 40%
|Business Activities||Holding company for operating shopping centers that feature the Atre brand in Taiwan|
Company Profile of the Breeze Nanshan/Atre Project
|Location||Songlian Road, Xinyi District, Taipei City, Taiwan|
|Nearest Railway Station||Taipei City Hall Station on Bannan Line, or Taipei 101/World Trade Center Station on Tamsui-Xinyi Line of MRT|
|Scheduled Opening||Fall of 2018 (Tentative)|
|Total area||Approx. 54,000 m2 in total, of which Atre will occupy approx. 12,500 m2 of the combined retail area (second floor (partial) to fourth floor of Breeze Nanshan).|
|Number of Retail Shops||Breeze Nanshan: More than 200 retail shops, of which Atre will occupy approx. 50 retail shops (tentative)|
Breeze Nanshan (rendering)
Breeze Nanshan - exterior image
Breeze Nanshan - Atre floor image (2nd floor)
Breeze Nanshan - Atre floor image (3rd floor)
Breeze Nanshan - Atre floor image (3rd floor)
Breeze Nanshan - Atre floor image (4th floor)
*Each perspective drawing is provisional and is subject to change.
This announcement contains forward-looking statements. These forward-looking statements are based on Mitsui's current assumptions, expectations and beliefs in light of the information currently possessed by it and involve known and unknown risks, uncertainties and other factors. Such risks, uncertainties and other factors may cause Mitsui's actual results, financial position or cash flows to be materially different from any future results, financial position or cash flows expressed or implied by these forward-looking statements. These risks, uncertainties and other factors referred to above include, but are not limited to, those contained in Mitsui's latest Annual Securities Report and Quarterly Securities Report, and Mitsui undertakes no obligation to publicly update or revise any forward-looking statements.
This announcement is published in order to publicly announce specific facts stated above, and does not constitute a solicitation of investments or any similar act inside or outside of Japan, regarding the shares, bonds or other securities issued by us.