Chapter 5 Transformation
2004
2023
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
In September 2004, Mitsui O.S.K. Lines decided to submit a tender offer for Daibiru’s stock at the Board of Directors meeting. O.S.K. Lines, Ltd., one of the predecessors of Mitsui O.S.K. Lines, had played a central role in the founding of Daibiru and had always been a major shareholder in Daibiru. Due to the maturation of the office building market since the 2000s and growth in real estate investment trusts and other real estate funds, quantitative expansion, diversification of investment properties, and expansion of investment regions had become necessary in order to improve business performance even more. Daibiru also believed that by joining the MOL Group, not only would the company be given a central role in the asset management of real estate properties owned and leased by Mitsui O.S.K. Lines and other group companies, but we would also become partners in the MOL Group’s expansion into logistics facilities and the development of new businesses, such as real estate securitization.
The tender offer period was from September 15 to October 14, 2004, with an offer price of 763 yen per share. The number of shares to be purchased was 273 million. This put the shares owned by Mitsui O.S.K. Lines at 50.42%, making Daibiru a consolidated subsidiary of Mitsui O.S.K. Lines and a member of the MOL Group.
This takeover provided Daibiru with the opportunity to acquire the Shosen Mitsui Building, which was the property of Mitsui O.S.K. Lines, as well as five rental condominiums belonging to the MOL Group in the Greater Tokyo area (Lanterna Koishikawa, Lanterna Nishiogi, Lanterna Sanno, Lanterna Noge, and Line House Aoki Park). Following these acquisitions, the Shosen Mitsui Building, which was located in a prime office building location, was renamed the Toranomon Daibiru Building, and renovation work began in October 2005. The renovations, which included building equipment upgrades, exterior repair work, renovation of the main entrance, elevator hall, and lavatories, and energy-saving improvements, were completed in January 2009.
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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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