- 2016.06.01Nippon Steel Kowa, Taisei Form Special Purpose Company to Receive Hotel Assets of Hotel Okura Tokyo's Main Building
Nippon Steel Kowa Real Estate Co., Ltd. was formed from a merger between Kowa Real Estate Co., Ltd. and Nippon Steel City Produce, Inc. Kowa Real Estate had primarily been involved in the development and management of office buildings in Tokyo's prime areas while offering comprehensive real estate services integrated with finance by leveraging the Mizuho Group's functionality and good customer base. Meanwhile, Nippon Steel City Produce had taken advantage of know-how it cultivated through developing massive former ironworks sites in handling a wide range of projects from rebuilding to equivalent exchange, to the development and sale of condominiums in urban redevelopment areas as a comprehensive real estate developer with a unique selling position.
One of its notable features is its well-balanced business portfolio with the commercial building business and residential property business working in tandem. The businesses NSKRE inherited from the two companies encompass an extensive range of creation of towns and cities with a proven track record it can speak proudly of. Something else noteworthy about NSKRE is its backbone made up of the Mizuho Financial Group and the Nippon Steel & Sumitomo Metal Group. This strong backbone has seen a solid management base realized and at the same time enables the integrated leveraging of the two groups' tangible and intangible assets, such as human resources and the good customer base, in turn making it possible to expand business further.