Colopl Said to Occupy Space in Tokyo Vacated by Morgan Stanley
Colopl Inc. (3668), a Japanese smartphone game maker, is taking up some of the office space at Tokyo’s Yebisu Garden Place after Morgan Stanley (MS) moved out, according to three people familiar with the matter.
Colopl, which currently has one floor at Yebisu Garden Place, plans to occupy half of another floor by the end of the year to become the biggest tenant in the office tower, the people said, asking not to be named because the discussions are private. Morgan Stanley, which was the biggest tenant at the property owned by beer maker Sapporo Holdings Ltd. (2501), completed a move to Tokyo’s Otemachi business district early this year.
Sapporo, whose real estate business generates about half of the entire company’s operating profit, is investing more in property to counter falling demand for beer in Japan. Colopl needs space as it hires more staff, one of the people said.
All the empty office space left when Morgan Stanley vacated is expected to be leased by the end of June, and many information technology-related companies are interested, Toshiyuki Ikoma, incoming president of Sapporo Real Estate Co., said in an interview on March 24. Sapporo plans to invest about 6 billion yen ($59 million) in the property in the Ebisu district by 2016, he said.
Morgan Stanley occupied about 30 percent of the rentable space in the building, Ikoma said. The office building is 40 stories, according to Sapporo’s website.
Sapporo does not comment on specific tenants, spokesman Yuki Hattori said by phone.
Colopl, an app maker that was founded in 2008 and started trading on the Tokyo Stock Exchange in 2012, makes smartphone games using information on the location of the users. It had 328 employees as of December last year, according to the company’s website. Its games include “Pro Baseball Pride,” “Treasure Detective” and “Dino Dominion.”
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