CENTRAL JAPAN RAILWAY COMPANY Annual Report 2007

are actively developed as a way of effectively utilizing properties owned by JR Central
and its group companies, and we continue to add to the appeal of cityscape by combining
quality condominiums with commercial facilities. The “NAGOYA CENTRALGARDEN”
commercial complex that houses many stores that generated buzz in April of this year
has just opened, and construction of the second group of condominiums (approximately
150 apartments) is proceeding, the handover of which is scheduled for the spring of
2009. Moreover, the development of disused sites of former company housing in
Higashi-ku Meirin-cho (Nagoya) is also steadily proceeding. Following the opening of a
supermarket as part of the commercial facilities in March of this year, the handover of
”Central Garden Residence Tokugawa Meirin-cho” is scheduled to take place in spring
2008. In addition, on the former site of the JR Tokai General Hospital a supermarket is
scheduled to open in September of this year.
We are also currently streamlining and revamping retail tenants at station buildings to
coincide with renovation work at station facilities. Such refurbishments will be
implemented at major stations including Tokyo, Shin-Yokohama, Shizuoka and Kyoto.
JR Central Towers
JR Central Towers, grandly opened in May 2000, is the core project of the JR Central
Group’s affiliated businesses diversification plan. It houses rental office space, a
department store, a hotel and other facilities, all of which are managed by three of our
consolidated subsidiaries (JR Central Building Co., Ltd., JR Tokai Takashimaya Co.,
Ltd., and JR Tokai Hotels Co., Ltd.). The combined operating revenues of these three
companies were ¥139.4 billion in FY2007.3 (simple calculations). Once again, these
figures exceeded the previous term. We continue to further expand each of JR Central
Towers’ businesses which have already developed a solid footing.
Towers Lights
The office business is run by JR Central Building Co.,Ltd., a wholly-owned subsidiary
of JR Central, which owns JR Central Towers. Since its opening, JR Central Towers has
continually recorded high levels of occupancy, and occupancy was maintained at close
to 100% during FY2007.3. The company also operates the “Towers Plaza”, a complex
of restaurants on the 12th and 13th floors, which are filled with customers each day.
Finally, a large number of customers enjoyed the “Towers Lights”, one of Japan’s largest
illumination shows, which has become a winter season staple attraction in Nagoya.
This department store run by JR Tokai Takashimaya Co., Ltd., a joint venture of JR
Central and Takashimaya Co., Ltd. The store’s location directly above the station is
proving very popular with customers, with many people coming to visit the store from
the surrounding regions. Furthermore, we continue to further increase the appeal of the
complex by introducing new point cards, actively redecorating displays, and renovating
the top floor of the JR Central Towers, which was continually acclaimed for its
wonderful view, into the “Panorama Salon”, and the sales continue to grow steadily
since its opening.
This hotel is operated by JR Tokai Hotels Co., Ltd., a wholly-owned subsidiary of JR
Central. JR Tokai Hotels Co., Ltd., which has concluded a franchise agreement with
Marriot International Inc., and provides services appropriate to an international luxury
city hotel. The hotel also expanded and renovated its concierge floor and renovated its
banqueting halls in order to achieve greater customer satisfaction. In FY2006 the hotel
continued to maintain a high level of room occupancy at approximately 90%.
Sky Street (JR Central Towers 15F)
Nagoya Marriott Associa Hotel (Premier Room)
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