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May 16, 2017
Sumitomo Corporation

Commencement of Matsudo North Market Development Project

Concluding a preliminary fixed-term land lease contract for the development of a commercial facility

Regarding the use of the site of the North Market of Matsudo City’s Municipal Wholesale Market (Location: 2-Chome, Hachigasaki, Matsudo-shi, Chiba Prefecture, hereinafter “North Market”), Sumitomo Corporation (Head Office: Chuo-ku, Tokyo; President and Chief Executive Officer: Kuniharu Nakamura) concluded a preliminary fixed-term land lease contract for business purposes with Chibaken Shokuhin Ryutsu Center Co., Ltd. (Head Office: Matsudo City, Chiba Prefecture, President: Toshiyuki Suzuki), which is the owner of the land.
 
Since its establishment in 1969, the North Market had played an important role for citizens as a wholesale food market. However, it was closed at the end of March 2017, due to deterioration and low seismic resistance in the facility as well as changes in the environment surrounding the market. Sumitomo Corporation will provide a new place for citizens to meet and relax by developing the site as a commercial facility. The new facility will achieve harmony with the streetscape and create a place for exchanges among people of different generations. The vast, approximately five hectare site of the North Market will allow Sumitomo Corporation to build an integrated multiple-building mall consisting of several large-scale stores and various specialty shops. We aim to launch the Matsudo North Market Development Project in FY2018 and complete the construction of and open the commercial facility within FY2019.
 
In addition to retail stores, restaurants, and service businesses, we are planning amusements such as a cinema complex and a fitness center and clinics for promoting the health of local people. Moreover, Sumitomo Corporation and Sumisho Urban Kaihatsu Co., Ltd. (Head Office: Chuo-ku, Tokyo, President: Toshihiko Takano), the operation and management company of the facility, will work together from the planning phase and establish a system in which the Sumitomo Corporation Group will continue to engage in the operation of the facility. 
 
Since it first participated in the commercial facilities development business in 1976, the Sumitomo Corporation Group has adopted the locally custom-made style that makes full use of local characteristics. At present, it owns and operates 33 such facilities across the country. Terrace Mall Shonan is one successful example, winner of the Gold Award, the highest rank, of the sixth Japan SC Awards selected by the Japan Council of Shopping Centers in April 2015. This shows that its development and operation performance have been highly evaluated.

 

<Site information>
- Location : 2-8-1 Hachigasaki, Matsudo-shi, Chiba Prefecture
- Area: : 49,179.60 m2
- Use district : Semi-industrial district
- Land owner : Chibaken Shokuhin Ryutsu Center Co., Ltd.
- Lessee : Sumitomo Corporation


201705291147_1.jpg
* This map is borrowed from MAPPLE of Shobunsha Publications, Inc.

<Reference data>
Sumitomo Corporation Group’s major commercial development projects and operational results(188 KB/PDF)
 

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Corporate Communications Department,
Sumitomo Corporation

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