JR East has partnered with Tokyu Fudosan Holdings to proceed with the redevelopment of its idle land and the construction of a solar power plant.
In anticipation of the future population decline, we aim to expand earnings in businesses other than railways.
The two companies held a press conference in Tokyo on the 14th and announced their business partnership.
Taking advantage of the track record of Tokyu Land Corporation, which has been involved in the solar power plant business, the power plant will be constructed on land owned by JR East.
In addition, we will utilize the know-how of a real estate company to develop towns along railway lines, such as constructing condominiums on the site of company housing in Funabashi City, Chiba Prefecture.
Yuji Fukasawa, president of JR East, said, "We have worked on many office developments in front of stations, but we do not have much experience in the housing business. We will develop earnings pillars other than railways with a sense of urgency."
Railway companies are increasingly moving to expand earnings in businesses other than railways, as they cannot expect growth in the transportation business due to the future population decline.
JR West has also announced that it will start selling second-hand homes from April this year.