Kirin and Mitsubishi Corporation Agree on Partial Transfer of Yo
Kirin and Mitsubishi Corporation Agree on Partial Transfer of Yokohama Akarenga Shares
Tokyo, Mar 14, 2013 - (JCN Newswire) - Kirin Holdings Company, Limited (Kirin) has agreed to transfer 51% of its shares in Yokohama Akarenga Inc. (Akarenga) to Mitsubishi Corporation (MC). The share transfer (21,318 of the total 30,000 shares held by Kirin) will take place in December, 2013.
Yokohama Akarenga Inc. was established in July 2000 with the aim of creating a lively and culturally active space in the Yokohama port area. The company renovated the Yokohama Red Brick Warehouse, Akarenga Soko, a famous historical landmark once used as Yokohama's customs facility, and transformed it into a bustling shopping mall and restaurant complex frequented by locals and tourists alike. Customer needs have nowadays become more diverse, however, requiring that commercial establishments provide much more sophisticated services than they did before. Therefore, in an effort to provide better service to customers and contribute to the prosperity of the Yokohama port area, Kirin has decided that transferring a portion of its Akarenga shares to MC. MC's wealth of knowledge and experience in the business will also contribute to the improvement of Akarenga's corporate value.
The MC Group has demonstrated success in the property development, management, and investment business. MC will apply its expertise in commercial property development to the implementation of various measures for the further prosperity of Akarebnga.
Kirin will remain as a shareholder in Akarenga following the transfer of shares and will continue its efforts to help improve the Yokohama port area.
About Yokohama Akarenga Inc.
(1) Head Office ： 1-2-2 Shinko, Naka-ku, Yokohama, Kanagawa, 231-0001, JAPAN (2) Business Activities ： Management and operation of commercial facilities at the Yokohama Red Brick Warehouse (3) Representative ： Hisaya Tsurumoto, President and Chief Executive Officer (4) Date Established ： July 1, 2007 (5) Number of Employees ： 11 (as of March 1, 2013) (6) Capital ： 2.1 billion yen JPY
About Mitsubishi Corporation
Mitsubishi Corporation (MC; TSE: 8058) is a global integrated business enterprise that develops and operates businesses across virtually every industry including industrial finance, energy, metals, machinery, chemicals, foods, and environmental business. MC's current activities are expanding far beyond its traditional trading operations as its diverse business ranges from natural resources development to investment in retail business, infrastructure, financial products and manufacturing of industrial goods. With over 200 bases of operations in approximately 80 countries worldwide and a network of over 500 group companies, MC employs a multinational workforce of nearly 60,000 people. For more information, please visit www.mitsubishicorp.com.
Mitsubishi Corporation Telephone:+81-3-3210-2171 Facsimile:+81-3-5252-7705
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