City Development

Community Revitalization

Urban Redevelopment of Machikatamachi and Toriyokocho District 1, Numazu City, Shizuoka Prefecture

On November 16, Takara Leben, together with Fujita, formed a joint venture with the Urban Redevelopment Association of Machikatamachi and Toriyokocho District 1, Numazu City, Shizuoka Prefecture, and signed a basic agreement with the association as a specified business agent.

This project aims to redevelop a part of the arcade of famous stores, which was established in 1954 as Japan's first shopping arcade with fireproof and communal architectural style, and to redevelop the central city area through the redevelopment. Demolition and site preparation work is scheduled to begin in 2024, with completion of 100 residential units with 10 floors above ground and one below by August 2027, as well as retail space.

The MIRARTH HOLDINGS Group is committed to solving various urban issues, improving functionality and livability, realizing safe, secure, and attractive urban development, and working in partnership with land and building owners, rights holders, and the government, utilizing various urban development methods, etc., in a three-party approach to urban renewal.

Redevelopment Plan for Former Department Store Site

Takara Leben has acquired land centered on the Okajima Department Store, which has been operating in the downtown area of Kofu City, Yamanashi Prefecture, since 1843, and will develop a complex consisting of tower residences, commercial facilities and a self-propelled parking lot, the third development in the city.

The facility is planned to include a tower residence, the largest of its kind in the prefecture, as well as next-generation commercial facilities that inherit the DNA of Okajima, a plaza capable of hosting events, and a self-propelled parking lot. The project aims to increase the number of downtown area residents, including those moving from the city center, and to attract visitors to the central city area, and to serve as a starting point for the circulation of residents and visitors, as well as to develop the central city area in a way that leads to the revitalization of its liveliness.

Aqua Ignis Awaji Island

Takara Leben and Takara Asset Management are participating in the Aqua Ignis Awaji Island (Awaji City, Hyogo Prefecture) project, a natural hot spring resort complex. This facility is the first national park Park-PFI* project approved in Japan.

We believe that this project will contribute to regional revitalization and increase the value of the region as a new business scheme in cooperation with not only local governments but also other industries. Takara Leben and Takara Asset Management decided to invest in the project because it is located at the northern end of Awaji Island, with excellent access from the Kansai region; it is a destination on Awaji Island, which had been a transit point; and it has the same potential as Aqua Ignis and VISON in Mie Prefecture, where Aqua Ignis already operates.

We will continue to work hand in hand with national parks, as we did in this project, to find better ways of public-private partnerships, as we strive to develop the tourism industry on Awaji Island and revitalize the region.

• *Park-PFI: Park-Private Finance Initiative. A new method of developing and managing urban parks that utilizes the funds and expertise of private companies through public solicitation.

Community-Based Shopping Center "tonarie Hoshida"

MIRARTH HOLDINGS has jointly developed the community-based shopping center "tonarie Hoshida" (Katano City, Osaka Prefecture) with ES-CON JAPAN.

The neighborhood is within the area of the Hoshida Station North Land Readjustment Project (total area: approx. 26.4 ha), where new developments such as condominiums, detached houses, medical facilities, and parks are underway, and further development is expected in the future. The said commercial facility is conveniently located in front of Hoshida station in this area. As a community-based commercial facility with tenants such as supermarkets, drugstores, 100 yen stores, and a medical mall, we aim to contribute to the development of the area and be loved by the community.

We will contribute to community building and local revitalization by leveraging the commercial facility development and management know-how that we and the ES-CON JAPAN Group have cultivated over the years.

Minamikoiwa 6-chome District Type 1 Urban Redevelopment Project

Several large-scale redevelopment projects are currently underway in the area surrounding Koiwa Station on the JR Sobu Line, which has been in operation for more than 100 years.

Koiwa Station Area Management Organization (KOITTO*) was established as an organization for landowners, developers, residents, users, and others to work together to enliven the new Koiwa area to be reborn through redevelopment. MIRARTH HOLDINGS, which is participating in the Minami Koiwa 6-chome Area Type 1 Urban Area Redevelopment Project, is a special supporting member of KOITTO.

KOITTO is engaged in (1) promotion of projects and events that promote regional cooperation and collaboration, (2) operation and utilization of the KOITTO TERRACE area management base, (3) area branding activities in the Koiwa Station area, and (4) consideration of public space utilization in line with the progress of redevelopment.

The area management base KOITTO TERRACE has been established in FIRSTA I in Block I of the redevelopment project, which was completed prior to the project, to promote area management around Koiwa Station.

• *KOITTO: A general incorporated association established in November 2020 to engage in area management in the Koiwa Station area; designated as an Urban Revitalization Corporation* on March 29, 2022.
• * Urban Revitalization Corporation: Designated by the municipality under the Act on Special Measures for Urban Revitalization as a core organization for community development in the land area where public utility facilities necessary for urban revitalization should be intensively developed, etc.

Participation in the THREE Excellent Building Development Project in the Shinmachi 1-Chome District of Aomori City

Takara Leben has participated in THREE, a project for the development of superior buildings in the Shinmachi 1-chome district of Aomori City (former site of the Aomori head office of the Nakasan Department Store) promoted by Shinmachi Machidukuri Corporation and Mik Corporation.
Opened in April 2023, THREE is a 14-story facility that integrates "clothing and medicine," "food," and "housing," and is a tower residence consisting of commercial facilities on the first through fourth floors and a total of 85 residential units on the fifth floor and above. The company contributes to the revitalization of the central city area of Aomori City by acquiring the reserved residential floors of THREE and taking on the residential subdivision business. The lower level has a clinic mall and restaurant area, and the first floor of the parking building (Annex building), which is connected by a corridor, houses a grocery supermarket (Marche), making it possible to live with less burden of snow even in an area with heavy snowfall. This is a new proposal for the revitalization of department stores in regional cities.

Excellent Building Development Project of East Area in Front of Takaoka Station

Takaoka City, the second largest city in Toyama Prefecture, is actively engaged in redevelopment projects around Takaoka Station with the aim of creating a vibrant and bustling city.

In 2015, Takara Leben participated in an integrated commercial, public utility, and residential development project in the "Suehiro West Area Living and Nigiwai Revitalization Project" in the city center and developed the "LEBEN TAKAOKA MID RISE TOWER" (16 stories above ground), a high-rise residence that will become a new symbol of the city and bring people back to live in the center.
In addition, the "Excellent Building Development Project* of East Area in Front of Takaoka Station," which is currently attracting much anticipation and attention among citizens, aims to create a lively atmosphere in front of the station and high-quality town-center living. As the executor of this project, Takara Leben is working together with related rights holders to promote it.

• * Excellent Building Development Project: A program of the Ministry of Land, Infrastructure, Transport, and Tourism to improve the environment of urban areas and supply good urban housing, etc. with the aim of developing quality buildings, etc. that contribute to the joint use and upgrading of land use, etc.

Community Revitalization Initiatives

The Group promotes regional development through its business and is actively involved in community revitalization and community development activities in the areas where it supplies properties.

Takaoka Craft Market Street 2022

Since 2021, Takara Leben has participated in the Craft Market Street project, which promotes the attractions of Takaoka City, Toyama Prefecture, a city of traditional crafts and manufacturing that has continued for more than 400 years, with the keyword of "craftsmanship." In September 2022, Model No Komono & Marche was held at the ANNEX building of LEBEN TAKAOKA MID RISE TOWER.

The Model-No-Komono program is an initiative to support sustainable living by creating a system to reuse (sell at special prices) interior goods and other items used in the company's model rooms.

In addition to the exhibition and sale of local traditional crafts, the popular Yamagata specialty "imoni" (stewed potatoes) and organic agricultural products were also sold at the Marche.On the day of the event, the company's employees also participated as staff members, making it a very successful three-day event.

Japan Sea Takaoka Nabe Festival

Takara Leben has participated since 2019 in the Japan Sea Takaoka Nabe Festival, a big event representing Takaoka in winter, where people enjoy nabe dishes full of fresh ingredients. In collaboration with the landowners of LEBEN TAKAOKA MID RISE TOWER, the company co-hosted the 37th Japan Sea Takaoka Nabe Festival and Suehiro Marche in January 2023, and 14 employees from the company participated in the event as event staff. Imoni, a Yamagata specialty, was a big hit, selling over 900 servings, much to the delight of the local community. We hope to steadily link this initiative to support the reconstruction of Takaoka City's downtown area.

Premium Markets

As part of the Leben Craft project, Takara Leben offers a "Premium Market" where residents of Takara Leben condominiums and the surrounding area can pick up a variety of local delicacies and experience the high quality of the products.

The project is intended to play a part in regional development and to share the excitement with many people through the special things we have encountered in the development of condominiums in various parts of Japan.

In FY2022, the Takaoka Craft Market Street and the 37th Japan Sea Takaoka Nabe Festival were held under the titles of "Marche" and "Suehiro Marche," respectively, to promote interaction between the producers of agricultural products and crafts and the visitors to the Marche.

Akabane Noryo Festa 2022

Takara Leben has participated in the Akabane Noryo Festa since 2018 to contribute to the community development of Akabane. In 2022, the first time the festival was held in three years, 17 employees from the company participated as staff members, selling giant sausages and drinks in addition to the customary ice cream.

The venue was crowded mainly with local families, and Bon Odori dance and Hula dance were also performed. The company's food stall products were all sold out before the event's closing time, making it a very successful two-day event.

We will continue to contribute to the revitalization of the community by interacting with local residents as part of our step-by-step participation in community development in Akabane.