JR East and Itochu fold their property arms into one developer from 1 October
JR East and Itochu will launch a jointly owned real-estate developer on 1 October, merging their property businesses into one company — a structural move that matters because JR East is Japan's largest station-retail landlord, and the new venture inherits both parents' development pipeline together.
East Japan Railway Company (JR East) and Itochu Corporation will launch a jointly owned real-estate developer on 1 October, JR East said, formally combining JR East's property-development arm with Itochu's real estate business into a single company capitalised at ¥10.698bn.