Mitsubishi Corporation Disaster Relief Foundation Supports Post-
Mitsubishi Corporation Disaster Relief Foundation Supports Post-Disaster Expansion of Kesennuma Retailer
Tokyo, Nov 28, 2013 - (JCN Newswire) - Mitsubishi Corporation Disaster Relief Foundation announces plans to provide 50 million yen to support the expansion of local supermarket chain, Ekimae Store, located in Kesennuma City in northeastern Japan. This contribution complements financing already being provided by Kesennuma Shinkin Bank, a local credit union, and will assist Ekimae Store to open "Kurie Miura", its new branch at Matsukawa, also in Kesennuma. This forms part of the retailer's ongoing efforts towards full recovery, following the devastation suffered during the March 2011 Great East Japan Earthquake and tsunami.
The new store, Kurie Miura at Matsukawa, will occupy about 1,800 square meter of floor space inside the Matsukawa Mae Shopping Center, the biggest mall to operate in Kesennuma since the disaster (total area about 28,000 square meter), and is expected to employ some 60 persons. This new branch, together with another already open in Hashikami, also in Kesennuma, brings Ekimae Store's employment numbers to 140, a notable contribution to employment generation in the region. The branch at Matsukawa is conveniently located along Route 284, a major transit point between Kesennuma and Ichinoseki City in neighboring Iwate Prefecture, which also means added convenience for users of the thoroughfare.
A leading supermarket in Kesennuma, Ekimae Store was established in 1973. Its two branches at Hashikami and Matsuiwa employed around 140 people and provided an array of products and services that sought to satisfy the needs of local customers. However, the base of this stable enterprise was severely interrupted as a result of the destruction brought about by the 2011 tsunami. Backed by the Kesennuma Shinkin Bank and other sources of support, Ekimae Store was able to reopen its Hashikami branch in September 2011, and now, with this additional support from the Mitsubishi Corporation Disaster Relief Foundation, is able to re-open a second branch, which puts the local retailer in a good position to return to pre-disaster level performance.
Nearly a thousand days have passed since the Great East Japan Earthquake, but the Sanriku area of northeastern Japan, which suffered immense damage from the tsunami, is still recovering from the disaster. The Mitsubishi Corporation Disaster Relief Foundation will continue to collaborate with local financial institutions such as Kesennuma Shinkin Bank as part of efforts aimed at employment creation and economic recovery in areas affected by the disaster.
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 Tel: +81-3-3210-2171 Fax: +81-3-5252-7705
Copyright 2013 JCN Newswire. All rights reserved. www.japancorp.net
Provider ID: 00028098