Chapter 4 Expansion
1989
2003
Section 1. Creating New Urban Spaces
2. The Hibiya Daibiru Rebuilding Project
The Hibiya Daibiru Buildings started operating on December 1, 1958, when the requisitioning of the buildings was lifted. The buildings evolved over time together with their most prominent tenants, but with the company’s medium- and long-term management plan established in 1982, the decision was made to rebuild them. At the time, there was extremely strong demand for office space in central Tokyo, and supply was unable to keep up. Building construction standards had changed significantly from when the original Hibiya Daibiru Buildings were constructed. A new requirement to include a parking lot had been added, and it was also possible to construct buildings with 37% more floor area. This meant it was now possible to create roughly 3,636 m2 of new office space in downtown Tokyo, where land was scarce and valuable. At the time, the office rental market in downtown Tokyo was strongly a landlord’s market, with a large gap between the rental rates for existing space and new space, so if the entire floor area after rebuilding could be converted to the new rental rates, Daibiru would be able to count on a significant increase in income. Buildings No. 1 and No. 2 had been completed in 1927 and 1931, respectively, so they were both nearly 60 years old. Aging was an additional factor in the decision to rebuild.
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The Mita-Nitto Daibiru Building, which served as a temporary home for Hibiya Daibiru tenants
And so Daibiru hatched its plans to rebuild the Hibiya Daibiru Buildings. For this plan, the company considered from an operational perspective whether the two buildings should be rebuilt together or separately in stages and made assumptions for both possibilities. A joint redevelopment project involving the adjacent Nittochi Building was also considered, but no agreement was reached on this matter, so the plan was to construct the new buildings independently.
The biggest concern regarding the rebuild was finding a temporarily location for the tenants. Since Greater Tokyo was strongly a landlord’s market at the time, it was impossible to find a property with equivalent location, floor area, grade, and so on. In the end, the company decided to use the Mita-Nitto Daibiru Building, which was then under construction, as a temporary home for the tenants. Once the agreement of the most prominent tenants was obtained, the rebuilding plan went into full swing.
The basic plan decided upon in 1985 was to proceed in the following order:
- Demolish Building No. 1 and construct a high-rise building (phase I) on its site.
- Operate Building No. 2 normally while the demolition and construction of Building No. 1 are underway.
- Afterward, demolish Building No. 2 and construct a low-rise building (phase II).
It included as its basic policy the following: that the buildings should positively impact the neighborhood environment even after many years, should not become obsolete in their functions, and should symbolize Daibiru’s presence in Tokyo in their appearance; that the buildings should emphasize cost-effectiveness, functionality, and safety; that the buildings should emphasize savings in labor and energy; and that the buildings should be intelligent buildings with computerized functions.
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1923 1944 Beginnings
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Section 2. Launching a Building Management Business
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Section 4. Business Development in Wartime
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1945 1957 Reconstruction
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Section 2. Our Buildings Reopen
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1958 1988 Development
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Section 1. Expanding the Building Management Business
- 1. The End of the Requisition of the Hibiya Daibiru Buildings
- 2. Upgrading the Facilities of the Daibiru Buildings and Damage Caused by the 2nd Muroto Typhoon
- 3. The Completion of the North Wing of the Shin-Daibiru Building
- 4. The Completion of the Yaesu Daibiru Building
- 5. The Acquisition of the Midosuji Daibiru Building
- 6. The Completion of the Kojimachi Daibiru Building
- 7. The Completion of the Uchisaiwaicho Daibiru Building
- 8. The Completion of the Dojima Daibiru Building
- 9. The Completion of the Awajimachi Daibiru Building
- 10. The Completion of the Mita-Nitto Daibiru Building
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Section 2. Expanding the Business Through M&A
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1989 2003 Expansion (1989–2003)
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Section 1. Creating New Urban Spaces
- 1. The Bubble Economy and Daibiru
- 2. The Hibiya Daibiru Rebuilding Project
- 3. The Completion of the Rebuild
- 4. The Start and Execution of Renovation Plans
- 5. The Completion of the Kita-Umeda Daibiru Building
- 6. The Completion of the Yodoyabashi Daibiru Building
- 7. The Completion of the Estate Tosabori Building
- 8. The Completion of the Umeda Daibiru Building
- 9. The Completion of Violette Takarazuka
- 10. The Shinjuku Daibiru Building and Shiba Daibiru Building Acquisitions
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Section 2. The Development of a New Corporate Identity and a Name Change
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Section 3. Disaster Preparedness and Risk Management
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2004 2023 Transformation (2004–2023)
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Section 1. Becoming a Consolidated Subsidiary of Mitsui O.S.K. Lines and Promoting Management Plans
- 1. Becoming a Consolidated Subsidiary of Mitsui O.S.K. Lines
- 2. Concentrating Investment in the Tokyo Area
- 3. Expanding into Other Countries and Japanese Regions
- 4. Establishing Daibiru 3D-Project Phase I, a Medium-Term Management Plan
- 5. Establishing Our Management Philosophy and Mission Statement
- 6. Establishing Daibiru-3D Project Phase II, a New Medium-Term Management Plan
- 7. Ongoing Establishment of New Medium-Term Management Plans
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Section 2. Expanding Our Business
- 1. The Akihabara Station Redevelopment Project and the Completion of the Akihabara Daibiru Building
- 2. The Acquisition of the Toranomon Daibiru Building
- 3. The 3 Nakanoshima Joint Development Project and the Completion of the Nakanoshima Daibiru Building
- 4. The Completion of the Tosabori Daibiru Building
- 5. The Acquisition of Aoyama Rise Square
- 6. The 3 Nakanoshima Joint Development Project and the Completion of the Daibiru-Honkan Building
- 7. Rebuilding the Shin-Daibiru Building
- 8. Renovation Work
- 9. Multiple Awards
- 10. Delving into Commercial Facilities
- 11. Acquiring a Partial Interest in the Seavans South Building
- 12. Expansion to Sapporo
- 13. Selling Seven Residential Properties
- 14. Starting the Rebuild of the Midosuji Daibiru Building
- 15. Starting the Rebuild of the Yaesu Daibiru Building
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Section 3. Overseas Business Expansion
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Section 4. Further Strengthening of the Corporate Structure and Group Reorganization
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Section 5. Harmonious Coexistence with Society
- 1. Developing a Compliance System
- 2. Developing an Internal Control System
- 3. Risk Management Measures
- 4. Sustainability Initiatives
- 5. Social Contribution and Cultural Support Initiatives
- 6. Environmental Initiatives
- 7. Working Style Reform Initiatives
- 8. Launching the Brand Development Project
- 9. Launching the Head Office Renovation Project
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Section 6. Toward Our 100th Anniversary and Beyond
- 1. Becoming a Full Subsidiary of Mitsui O.S.K. Lines
- 2. Acquiring a Partial Interest in Otemachi First Square
- 3. Acquiring a Partial Interest in the Otemon Tower / ENEOS Building
- 4. Investment in an SPC for Logistics Facilities in the Nishinomiya Area
- 5. Project Participation in the United States
- 6. Project Development in Melbourne, Australia
- 7. Formulation of a New Medium- and Long-Term Management Plan
- 8. Implementing 100th Anniversary Projects
- 9. For Future Generations
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