CONTENTS MESSAGE FROM THE PRESIDENT

02 MESSAGE FROM THE PRESIDENT

03 HISTORY OF CORPORATION As a core company of 05 ABOUT TOKYU FUDOSAN HOLDINGS GROUP the Tokyu Fudosan Holdings Group, 06 GROUP’S MEDIUM- AND LONG-TERM MANAGEMENT PLAN We are developing a city to 07 URBAN DEVELOPMENT THAT PROPOSES NEW LIFESTYLES solve social issues through 07 THE GREATER AREA CONCEPT value creation by cooperation. 09 LIFE STORY TOWN

11 URBAN DEVELOPMENT

25 RESIDENTIAL

33 WELLNESS

43 OVERSEAS BUSINESSES

47 REAL ESTATE SOLUTIONS TOKYU LAND CORPORATION is a comprehensive real estate company through joint development of condominium units, senior housing, with operations in Urban Development, Residential, Wellness, Overseas hotels, and other facilities. Businesses and more. We are a core company of Tokyu Fudosan Holdings For the expansion of the scope of cyclical reinvestment business, Group. Since our founding in 1953, we have consistently worked to create we are expanding the applicable areas of the cyclical reinvestment value by launching new real estate businesses. We have expanded our business to infrastructure and industry, hotels and resorts, and 48 MAJOR AFFILIATES business domains in response to changing times and societal changes, student residences, in our efforts to ensure the expansion of 49 HOLDINGS STRUCTURE growing from development to property management, real estate agency associated assets and the increase in profitability. We expanded and, in particular, a retail business encouraging work done by hand. CAMPUS VILLAGE, student residences that we launched in 2018, to 50 PHILOSOPHY These operations now run independently as TOKYU COMMUNITY CORP., the Kansai area for the first time. We are also proactively expanding TOKYU LIVABLE, INC. and TOKYU HANDS INC., subsidiaries within our domains in the hotel and resort sector to propose a variety of new Group. Since 2000, we have overcome the bursting of the bubble economy Play Styles. Our efforts toward this end include the acceleration of the and the global financial crisis following the collapse of Lehman Brothers expansion of Tokyu Stay urban style hotels into regional markets and by changing our main source of revenue from the sales of housing to the joint development of resort hotels in Karuizawa and Okinawa with the leasing of offices, commercial facilities, and similar properties. We our overseas counterparts. also made an early entry into the real estate securitization business and I am convinced that new value creation through cooperation is have been striving to build a strong business structure based on stable the best way to respond with agility to changing social issues and revenue and a sound balance sheet. to continue to be valued by society. As a core company of Tokyu We are currently expanding businesses toward the target year of Fudosan Holdings Group, we will accelerate our efforts to create 2020, when the Olympic and Paralympic Games will be held in , Group synergies and keep seeking new business opportunities and by taking advantage of our development capability, operating skills, enhancing our business models, thereby aiming for strong growth. and stable earning power backed by our track record. We thus aim To achieve sustainable growth as a company, above all, we have to play a central part in the medium- and long-term management to be a strong and vibrant organization. We were certified as an plan, Value Frontier 2020: To Become a Corporate Group that Continues Excellent Enterprise in Health and Productivity Management for three to Create Value, which serves as a guide for the Group. In fiscal 2017, consecutive years from 2017. We remain committed to demonstrating the Medium-Term Management Plan 2017 - 2020 was launched as Stage our continued leadership in the promotion of Health and Productivity 2 of Value Frontier 2020. We have since been advancing the urban Management and Work-style Reform. In addition, to retain our development that proposes new lifestyles and the expansion of the scope reputation among customers and society as a group that has come of cyclical reinvestment business as growth strategies. to be associated with comfort and reliability, we will also maintain our For the urban development that proposes new lifestyles, the overall focus on bolstering corporate governance and compliance. Tokyu Group is working to add to the appeal of Shibuya under the We will continue to create, propose, and actively convey our Greater Shibuya Area Concept. Under this concept, we promote ideas about new Home Styles, Work Styles and Play Styles. We aim area-wide development and management in Shibuya, our home base, to exceed expectations that TOKYU LAND CORPORATION continue to as well as the surrounding areas. In the redevelopment of Shibuya, take on challenges and make an endless effort to evolve. SHIBUYA SOLASTA and SHIBUYA FUKURAS will be completed in 2019. Our headquarters, that of Tokyu Fudosan Holdings Corporation, and others will be relocated to SHIBUYA SOLASTA, which will become President and Representative Director the Group’s new communication center, where we ourselves practice new Work Styles. In addition, we also promote LIFE STORY TOWN, Yuji Okuma projects for urban development that proposes new lifestyles starting with housing. In these projects, we are proposing new Home Styles

In August 2019, we made a fresh start by relocating our headquarters back to Shibuya, our home base. Photo: A view from the roof of SHIBUYA SOLASTA, where our new headquarters is located 01 02 History of TOKYU LAND CORPORATION

CHRONICLE CHRONICLE CHRONICLE CHRONICLE 1950s-1960s 1970s-1980s 1990s-2000s 2010s-

Seeking to be a Great Local Brand As a Comprehensive Lifestyle Producer From Residential Development to Urban Development To an Era of Group Co-Creation Starting with garden cities, we focused on urban development A corporate group that creates lifestyles through After the collapse of the bubble economy, TLC shifted its revenue Anticipating change, we sustained growth in Shibuya, Daikanyama, and other locations business diversification base from sales to leasing business. through Group co-creation.

1918 1970 1993 2010

Established Den-en Toshi TLC expands its business Tokyu Stay begins operation, TLC completes Phase I Project Company. Began the sale of by entering the property the first urban medium- of Futako Tamagawa Rise, one the Den-en Chofu based on management business, with to long-term stay hotel of the largest private mixed- ’s first Garden City plan. the establishment of TOKYU (Kamata, Tokyo). use redevelopment projects COMMUNITY CORP. in Tokyo. Tokyu Stay Kamata (recent photo) 1953 1976 1993 2011

TOKYU CORPORATION spins TLC establishes TOKYU HANDS TLC opens Abeno Q's MALL opens as one off its real estate division into INC., entering the retail Business Square, the first of the largest shopping malls in TOKYU LAND CORPORATION business under the concept of skyscraper office building Osaka Prefecture. (TLC). reinstating work done by hand in Tokyu Group. as a pioneer in the DIY industry (Fujisawa, Kanagawa). 1955 1982 1994 2012

Construction of Daikanyama TLC starts development of TLC starts supplying houses Tokyu Plaza Omotesando Tokyu Apartment (Japan's Asumigaoka New Town, one of for Kimi no Mori, Japan’s opens as a first luxury rental apartment the largest town development first residential golf course cultural center that colors complex for foreign nationals) projects in Japan, which country club. -jingumae Crossing. is completed. focuses on harmony with nature. 1956 1984 2002 2013

TLC opens Shibuya sales TLC opens Palau Pacific Completion of the Ichiban-cho Tokyu Fudosan Holdings office (predecessor of TOKYU Resort, a full-fledged overseas Tokyu Building, Tokyu's first Corporation is established to LIVABLE, INC.), the industry’s resort developed in an office building development reinforce the management first full-scale entry into the environmentally-friendly project financed through base for creating synergy real estate intermediary manner. securitization. within the Group. business. 1958 1985 2004 2016

TLC completes construction of TLC establishes TOKYU SPORTS TLC starts operating Grancreer, Tokyu Plaza opens as the Tokyu Skyline, the industry’s OASIS Inc. In the following year, marking the opening of eastern base of Tokyu Group, first condominium project. the company opens the first Tokyu’s first senior housing marking its full-scale entry into members-only fitness club development in anticipation the Ginza area. that proposes healthy lifestyles of an aging society (Azamino, (Esaka, Osaka). ). 1965 1988 2007 2019

TLC opens the Shibuya Tokyu TLC starts operating Tokyu Completion of Completion of SHIBUYA Building, a trend-setting retail Harvest Club. The company Building, a large-scale SOLASTA, an office building complex. opens the first membership office building that caters to that provides new workplaces, resort hotel, which proposes contemporary business needs. and the subsequent relocation new ways of enjoying leisure of the headquarters to it. (Tateshina, Nagano).

03 04 Our Group Group’s Medium- and Long-Term Management Plan About Tokyu Fudosan Holdings Group Value Frontier 2020: As a corporate group that continues to create value, the Tokyu Fudosan Holdings Group creates and proposes lifestyles beyond To Become a Corporate Group that Continues to Create Value the bound of business frame work. Under Tokyu Fudosan Holdings Corporation, the Group operates in the seven segments of Urban Development, Residential, Property Management, Real Estate Agents, Wellness, Tokyu Hands, and Innovation Business, The Tokyu Fudosan Holdings Group strives to achieve sustainable growth and long-term improvement of its corporate value with the leading roles played by the six core operating companies: TOKYU LAND CORPORATION, TOKYU COMMUNITY CORP., under the medium- and long-term management plan, Value Frontier 2020: To Become a Corporate Group that Continues to Create TOKYU LIVABLE, INC., TOKYU HANDS INC., Tokyu Housing Lease Corporation, and NATIONAL STUDENTS INFORMATION CENTER Value. The target year for this plan is 2020, which will be a landmark year in economic activity for Tokyo. It marks the year by CO., LTD. We have been providing new value to our customers by taking advantage of the Group’s comprehensive capabilities and which the areas around will have undergone a dramatic transformation through redevelopment projects, as well Challenge-oriented DNA, which has been passed on since the development of Den-en Chofu that was pioneered by a housing as the year in which the Tokyo Olympic and Paralympic Games will be held. development company in 1918, called Den-en Toshi Company, which was established with the aim of creating an ideal community. 2014-2016 2017-2020 2021-

Medium- and Long-Term Management Plan Entering a New Stage Value Frontier 2020: To Become a Corporate Group that Continues to Create Value

Group Basic Policy

Expansion of Associated Assets Creation of New Demand

STAGE 1 STAGE 2 Urban Property Real Estate Innovation Previous Medium-Term Management Plan New Medium-Term Management Plan Residential Wellness Tokyu Hands Development Management Agents Business

Creating cities that Shining a new light on Providing lifelong Connecting customers Providing quality time Making life fun Developing new fields bustle with activity housing support for buildings and real estate and experiences ・ TOKYU HANDS ・ Overseas (North and customers America and Asia) ・ Office buildings and ・ Sales of housing ・ Real estate agents ・ Hotels and resorts ・ hands be Medium-Term Commercial facilities (sales and leasing) Greenification In the Medium-Term Management Plan 2017 - 2020, Stage 2 of the Value Frontier 2020, we are promoting three ・ Development of ・ Condominium ・ Senior life ・ Other specialty stores ・ Investment management rental housing management Consignment sales Management Plan growth strategies by taking advantage of the Group’s comprehensive capabilities while continuing the two ・ ・ ・ Fitness Management of (rental condominiums, Building and facility Real estate sales ・ ・ ・ ・ Consignment welfare basic policies of expanding associated assets and creating new demand. rental housing student residences) management 2017-2020 ・ Real estate solutions ・ Renewable energy and ・ Renovation construction infrastructure facilities 1 2 3 Targets*1 Expansion of the scope (FY2020) Urban development that Reinforcing stock of cyclical reinvestment proposes new lifestyles utilization business Operating profit ¥95 billion Three Growth The Group’s Strength and Ideal Strengthening of The Greater Shibuya Expansion of the Strategies property management Net profit* ¥50 billion Area Concept investment areas >> P. 7 business The Group’s strength is its ability to provide products and services tailored to customers’ life stages using wide-ranging business development Debt-Equity ratio Lifestyle communities Strengthening of Strengthening of 2.3 times or below and long-term, continuous contact with customers. We strive to achieve our ideal by combining our varied products and services and providing with alteration of the business in the real estate agents value that integrates the physical and non-physical. generations >> P. 9 United States EBITDA multiple 10 times level

Group strengths The ideal Reinforcing the Strengthening measures to generate synergy effects among businesses EPS ¥69.53 management foundations that support the growth ROE Over 8.0% Life stage Schooling Career Post-Retirement strategies Optimization of Group management assets / ESG Management

*1 On May 10, 2019, we announced readjustments to the Medium-Term Management Plan. We revised target values upward and added target indicators for earnings per share (EPS) and return on equity (ROE). New WorkStyles Proposals for *2 Profit attributable to owners of parent

Office buildings: Offices offered by TLC / Business-Airport / INFIELD and create new lifestyles We go beyond the bounds of physical structures to propose To Become a Corporate Group that Continues to Create Value

Work Styles Consignment welfare and health support: EWEL

Career support: Building and facility management Positions of the Seven Core Businesses Nasic TOKYU COMMUNITY Businesses Asset Utilization Business Dramatic Growth in the Stock Student residences: Condominium management Reform and Reinforcement Utilization Business CAMPUS VILLAGE New Home Styles Proposals for New condominiums: BRANZ / MAJES / L'GENTE We have built a business portfolio that enables us to respond flexibly to social Urban Property Real Estate Home Styles Rental housing: Tokyu Housing Lease / COMFORIA issues and changes in the business Development Residential Management Agents

Real estate agents (sales and leasing): TOKYU LIVABLE environment in a group-wide manner. We position Urban Development, Residential, Mature Growth Renovation construction: Tokyu Re・design Property Management, and Real Estate Markets Markets Senior life: Agents as our four core businesses. The Increase Group Added Value New Core Business Future Growth Grancreer Drivers Commercial facilities: TOKYU HANDS / Tokyu Plaza / Q Plaza / Q's MALL Wellness business, which has a favorable New Play Styles Proposals for business environment, will be our fifth Hotels: Tokyu Stay Innovation core revenue source by fiscal 2020. Tokyu Hands Wellness Business Play Styles (Overseas Businesses) Resorts: Tokyu Harvest Club / Tokyu Snow Resort / Tokyu Golf Resort

TOKYU LAND CORPORATION, the core company of the Fitness: TOKYU SPORTS OASIS Group, operates four of the seven businesses of the Group, namely Urban Development, Residential, Wellness, and Strategic Businesses Innovation Business (Overseas Businesses).

05 06 Urban Development that Proposes New Lifestyles The Greater Shibuya Area Concept

The area around Shibuya, where we have been headquartered, is surrounded by highly distinctive towns such as Aoyama, HARAJUKU Sta. Omotesando, Harajuku, Ebisu, and Daikanyama, which are connected in a complex manner. It is an attractive area with a variety GREATER of urban functions, including places for working, playing, learning, relaxing, and engaging in creative activities. We have positioned Fukutoshin Line this area as an important base for the Group, by designating it as the Greater Shibuya Area. SHIBUYA 16 AREA 3 10

9 ENTERTAINMENT CITY SHIBUYA MEIJI-JINGUMAE Sta. 15 Under the Greater Shibuya Area Concept, we are proceeding with urban development that highlights the unique features of the Group, ranging from the development of individual projects to area management, and administration and operation, in an area where the major OMOTESANDO Sta. properties of the Group are concentrated. We promote development aimed at expansion from specific locations to the creation of a sustainable town with infinite potential. We will create a town that captivates people with attractive content, to make Shibuya the best place to visit in Japan. In the redevelopment projects TOKYU HANDS 5 12 in Shibuya, which are said to be greatest in 100 years, we are working to realize ENTERTAINMENT CITY SHIBUYA as a member of Shibuya Store Tokyu Group, to further increase the potential of this area featuring a cluster of IT companies, a rich residential area, major clusters 11 of commercial facilities and culture, and superior access. Tokyu Department Store Head Oce / Bunkamura SHIBUYA Sta. Tokyo Metro Hanzomon Line SHIBUYA109 REDEVELOPMENT PROJECTS 4 Concentration of IT firms K 1 eio In Growth of creative industry ok 6 ash 1 2 3 ira Line 19 4 13 8 2 Open: November 2019 / FY2027 (planned) 14 Abundant residential properties JR Including embassies and foreign residents 18 5 SHIBUYA CAST Open: April 2017 Major hub of commercial and 7 cultural activity JR Saikyo Line A district that attracts new trends 6 Open: September 2018 Tokyu Den-en-toshi Line Good access Links up to 8 lines Rendering Rendering Image SHIBUYA BRIDGE 7 (JR and private train lines) Open: September 2018 SHIBUYA FUKURAS Shibuya Sakuragaoka Block Jingumae 6-chome Block Completion: October 2019 (planned) Completion: FY2023 (planned) Completion: FY2022 (planned) Note: 4 to 7 above are projects mainly conducted by .

Tokyu Toyoko Line COMMERCIAL FACILITIES EBISU Sta.

17 8 9 10 11 12 DAIKANYAMA Sta. ■ Redevelopment project ■ Commercial facility ■ Office building ■ Property owned by API API: Activia Properties Inc.

Rendering

Tokyu Plaza Shibuya Q Plaza Harajuku Tokyu Plaza Omotesando Shibuya Beam Glassarea Aoyama (in SHIBUYA FUKURAS) Harajuku Open: December 2019 (planned)

OFFICE BUILDINGS We opened GUILD Dogenzaka, We have created 16 18 19 the third in the GUILD series of incubation facilities that 13 14 15 16 17 facilities for co-creation with connect Shibuya to the startups. In these facilities, world as a place for offered in the Greater Shibuya implementing acceleration Area, we collaborate with programs provided by venture capital firms, mentor Plug and Play Tech Center, Membership satellite offices Offices for startups entrepreneurs, and other parties Incubation facilities a global company. We will Business-Airport Aoyama GUILD Dogenzaka to implement diverse programs Plug and Play Shibuya promote collaborations (Spline Aoyama Tokyu Building) Open: April 2019 providing opportunities leading powered by TLC with start-ups in earnest See page 17 for details. to the growth of startups. Open: November 2017 in Shibuya. SHIBUYA SOLASTA Shibuya Minami Tokyu Building Shin-Aoyama Tokyu Building Spline Aoyama Tokyu Building Ebisu Business Tower

07 08 09 cater tosocialneeds related todiverse housingandwell-being. related tohousing, suchastheagingpopulationanddecliningbirthrate, dementia, andweakcommunityties, inoureffortsto services toprovide addedvalue toresidential complexes asthestartingpointfor newlifestyles. We thusaddress socialissues new lifestyles startingwithhousing. Intheseprojects, wehave addedchildcare, nursing care, area management, andother Under theconceptof STORYLIFE TOWN Urban Development thatProposes NewLifestyles close toeachother three generations offamily stay A LIFESTORY TOWN where Creating acommunity where ideal workstylesand lifestyles A LIFESTORY TOWN forachieving families withstudents A LIFESTORY TOWN whichconnects new storiesare created To address socialissuesandcontinuesupportingresidents and a newstoryforeachlifestyle protecting thetownafterconstruction project project 2 Residences Condominiums 1 Equation ofLIFESTORY TOWN Condominiums Condominiums Condominiums nd st Residences asthestartingpoint(buildingcomplexes) The MissionofLIFESTORY TOWN Tokaichiba-cho, Midori-ku, Yokohama-shi, Kanagawa Nakamachi,Setagaya-ku, Tokyo → → comfortable life. communities where everybody can enjoy asafe and City development aimedatconnectingpeopleand Tokaichiba Project in2019 lifestyle communitywithalternationofgenerations condominiums withseniorhousingfacilitiespromoting Construction ofalarge complex thatcombines Setagaya Nakamachi Project in2017 , weoperate LIFESTORY TOWN, projects for urbandevelopment thatproposes See page 35 (Wellness) for details. Seepage35(Wellness) Seepage29(Residential) andpage35(Wellness) for details. Student residences Office buildings Resort facilities Hotels Commercial facilities Student residences Senior housing Office buildings Senior Housing . Adding value toresidences Area management Wellness care, andwelfare Healthcare, nursing child rearing Childcare, supportfor Nursing Care Interactions Childcare

Rendering as aProvider ofSolutionstoSocialIssues Four BusinessDomainsof TOKYU LANDCORPORATION OVERSEAS BUSINESSES WELLNESS communities, andmeasures for saving energy andprotecting theenvironment. control, countermeasures againstaging offacilities, revitalization oflocal We alsocontributetolocal communitiesthrough initiatives suchasdisaster in agingofthepopulationwithdecliningbirthrates anddiversifying lifestyles. we create residences inresponse tochangesofthetimes, suchastheprogress In ourResidential business, whichisaimedatsheddingnewlightonhousing, RESIDENTIAL URBAN DEVELOPMENT while protecting theenvironment andlocal culture. having startedresort development andjobcreation there inthe1980s, in Palau, atourism-basedcountry, wehave beencontributingtolocal communities, overseas expansion withafocus onNorthAmerica andSoutheastAsia. Inaddition, the progress ofglobalizationasanopportunitytoexpand ourbusinesses. We promote In theInnovation Business(Overseas Businesses)for cultivating newfields, weview the appealofresort facilitiesaswell asotherinitiatives. We alsorespond totherapidly growing inbounddemandby addingto customers’ healthy life-span inacross-sectoral manner. of thecomingsuper-aging societyearly on, weprovide servicestoextend our the fieldsofleisure, health, andseniorlife. Asacompany thatbecame aware Our Wellness businessisaimedatproviding qualitytimeandexperiences in their respective areas, includingtheGreater Shibuya Area. a widevariety ofurbandevelopment projects for maximizingthepotentialof business, whichisaimedatcreating bustlingtowns. We are implementing improve thevalue of Tokyo asaglobalcitythrough ourUrbanDevelopment While theglobalurbancompetitiongrows increasingly fierce, weworkto

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OVERSEAS BUSINESSES WELLNESS RESIDENTIAL URBAN DEVELOPMENT URBAN DEVELOPMENT Creating cities that bustle with activity Since the development of Den-en Chofu, which was the starting point, we have been promoting urban development in harmony with nature by being attentive to the needs of towns and people. We provide offices that are friendly to workers and the environment and commercial facilities that stand as town landmarks, and operate the investment management business by making effective use of prime assets. Our urban development projects integrate these businesses. Further, we also develop renewable energy and infrastructure facilities. Development Commercial Infrastructure Investment Offices We work to create prosperous cities alive with people and develop social infrastructure by envisioning towns in Tokyo Facilities & Industry Management that are attractive to the people who live, work, and play in them. TOKYU LAND CORPORATION will continue to take on challenges to continue creating ideal towns throughout the ages.

11 12 13 Development * 19floors according totheBuildingStandards Act ofJapan Location: Dogenzaka, Shibuya-ku, Tokyo Floor space: Approx. 58,970m comfortably by peopleofall generations, including inboundtourists. prosperous and alive with people initsrole asanew gateway toShibuya that can beused safely and also plannedasarelaxation spacefor visitors. SHIBUYA FUKURAS will contributetomakingShibuya terminal for city and airport limousine buses is planned for the first floor. Further, a rooftop plaza is floors.Shibuya (projected Abus toopeninDecember2019)isplannedon thelower andmid-level surrounding it. The upper floors ofthenewbuildingwill hostofficeswhilethenew Tokyu Plaza A redevelopment project isunderway ontheformer siteof Tokyu PlazaShibuya andthearea A newgateway toShibuya thatwelcomesdiverse visitors SHIBUYA FUKURAS in Tokyo developing townsthataddtotheirappeal–thisiswhatoururbanredevelopment isall about. areas. Allowing all urbanresidents toleadprosperous everyday lives intheirownstylesand be greatest in100years, andtheurbanredevelopment oftheHamamatsucho& Takeshiba competitiveness through projects suchastheredevelopment projects inShibuya, saidto host city for the 2020 Olympic and Paralympic Games. We are working to improve its urban There hasbeenaheightenedinterest in Tokyo asaglobalcityfollowing itsselectionasthe 2 Floors: B4F-18F*Completion:October2019(planned)

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Fukutoshin Line Fukutoshin Yamanote Line Yamanote Rendering Completion: FY2023(planned) Floors: Floor space: Approx. 254,830m Location: Sakuragaoka-cho, Shibuya-ku, Tokyo and childcare facilities. facilities, servicedapartments, including internationalmedical global lifestyle support facilities addition, wewill also develop to andfrom Shibuya Station. In will also be offered in this area, access which provides barrier-free Spaces for commercial facilitiesandofficescondominiums siteextending from the southwest2.6-hectare area ofShibuya Station. required for living, working, andhaving funisunderway ona A redevelopment project for creating anarea withall theelements and havingfun A fulfilling area withall theelements required forliving, working, Redevelopment Project Shibuya Sakuragaoka Block Rendering Rendering TAKESHIBA District C: 1F-4F District C:1F-4F District B:B2F-29F B4F-39F District A: 2

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Fukutoshin Line Fukutoshin Yamanote Line Yamanote Completion: FY2022(planned) Floors: B3F-10F Floor space: Approx. Location: Jingumae, Shibuya-ku, Tokyo movement ofvisitors. traffic toachieve thesmooth aiming toimprove thefoot will alsocontributetothedevelopment ofapedestriannetwork, of thearea by linkingthebustleofOmotesandoandMeijiDori. It inside andoutsideJapan. This facilitywill furtheraddtothepotential a newlocal landmarkthatattracts alarge numberoftouristsfrom area. crossing Itwill be inthecenterofHarajuku/Omotesando We are developing acommercial facilityattheMeiji-Jingumae attraction A commercial facilityworthy ofaninternationaltourist Urban Redevelopment Project Block Jingumae 6-chome Image Location: , Minato-ku, Tokyo Floorspace: Approx. 201,159 m Floors: B2F-40F DistrictA: be approximately 200,000m The totalfloorarea ofthe overall facilitiesisplanned to Government will be established in an integrated manner. industry trade centerrunby the Tokyo Metropolitan that nurture thecontentindustryinJapanandan promoted by thegovernment. Private sectorfacilities Strategic SpecialZones, anurbandevelopment strategy is designatedasaspecificproject undertheNational developing aninternationalbusinesshub. This project districts,In theHamamatsucho/Takeshiba weare is unequaledintheworld Aiming todevelop aninternationalbusinesshubthat (tentative name) Takeshiba DistrictDevelopment Plan

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OVERSEAS BUSINESSES WELLNESS RESIDENTIAL URBAN DEVELOPMENT 15 Actions forsmiles building smiles to cleanuptheareas around buildings. office buildings. Wealsotake partin regularactivities in which beekeeping is performed on the roofs of communities. Oneexample is theMitsubachi Project, We carry outactivitiestodeepenourtieswithlocal local communities Activities forcontributingto Offices support peopleworkinginJapanthrough thepower ofgreenery. goal ofrealizing idealworkstyles. We are committedtothis initiative with adesire to we are promoting Green Work Style, applying thispower toofficeseffectively, withthe Focusing attention onthepower ofgreenery atHibiya Parkfront andSHIBUYA SOLASTA, positively onthephysical and mentalhealthofworkingpeople, andinspires them. Research has revealed that greenery positively affects people. Greenery works Designing workstylesofJapanesepeoplethrough greenery Green WorkStyle requires, includingsafety, basic functionsabuilding We promise toofferthe security, andcomfort. Support

business conceptof that anofficespace represents anotherlivingspacetothepeoplewhoworkthere. Underthe The officeiswhere business professionals spendmostoftheir day. Forthis reason, webelieve employees' needsthroughout thebuildings. tenants by listeningtotheir feedback andconsidering We deepentieswithour Connect their needs. information through OFFICEtoCLUB, awebsite We provide officeworkers withcourtesy courtesy services Information and to create comfortable spacesthatenergize people. buildings more environmentally friendly. Ouraimis of greenery. The useofnatural energy alsomakes sunlight, feel the wind, and take in refreshing views People feel enrichedwhenthey are abletobaskin the wind, andgreenery Spatial designsthatuselight, newsletter. for ourtenants, andtheOFFICEtoinformation that offers information aboutcourtesy services building smiles of value thatgoesbeyond We provide agreat range basic functions.

Color , weofferhighqualityofficebuildingsthat reflectsthe

SHIBUYA SOLASTA Sky Terrace Fire Stationandachieve solidresults. firefighting competition organized byShibuya disasters. Every year, weparticipateina keep disaster suppliesinpreparation for In addition to monitoring daily security, we when disasterstrikes Business continuity offices weoperate. our properties, andensure thecomfort ofthe in order tomaintain and improve thevalue of We are alsocommittedtotraining ourstaff power ofourpeople Eyes, enthusiasm, and

of IoT, tosupportproductivity improvement anddiverse workstyles. Green Terrace, where peoplecan enjoy greenery inthecity, andintangibleservicesfeaturing theuse and thisofficebuilding features the Sky Terrace andaloungeonthe rooftop. We have introduced a where diverse workers demonstrate theircapabilities underthebluesky ( Station. abuilding worthy It’s ofitsname, SOLASTA, whichwechoseenvisioning a stage(workplace) We have completedthisproject, promoted asapartoftheredevelopment ofthearea around Shibuya A newworkplacewhere diverse workers demonstrate theircapabilities SHIBUYA SOLASTA Location: Dogenzaka, Shibuya-ku, Tokyo Floorspace: Approx. 46,954m Location: Uchisaiwaicho, Chiyoda-ku, Tokyo Floorspace: Approx. 67,123m productivity andactivate communication. on thepositive power ofgreenery, weaimtoimprove as comfortable as ifthey were inapark. Focusing office spaceswithplants, whichmake workers feel the conceptof location adjacent to Park. Designed following with thelatestenvironmental features ina premium We have establishedthishigh-grade officebuilding an office inthepark A buildingguidedby theconceptof Hibiya Parkfront 2 Floors: B1F-21FCompletion:March 2019 an officeinthepark sora or sola in Japanese , thebuildingfeatures

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OVERSEAS BUSINESSES WELLNESS RESIDENTIAL URBAN DEVELOPMENT 17 Minato-ku Spline Aoyama Tokyu Building Shibuya-ku SHIBUYA SOLASTA CO generations are required tomeet. For example, they offermeasures tocountertheheatislandphenomenon, andtohelp reduce Office buildingsdeveloped by TOKYULANDCORPORATION far exceed environmental standards thatofficebuildingsinthecoming DBJ Green BuildingCertification Uchisaiwaicho TokyuBuilding Nihombashi Maruzen Tokyu Building Minamiaoyama TokyuBuilding Kasumigaseki TokyuBuilding stars 4 stars 5 stars 3 2 emissions. To date, atotalof17ourproperties have received theDBJ Green BuildingCertification. terminal stations, tohelpcustomers succeedintheir businesses. and . We will continuetoexpand theBusiness-Airport, withafocus on new-style workspaces ineightlocations in Tokyo, includingShibuya, Aoyama, productivity ofbusinessprofessionals andthepromotion ofdiversity. We provide in response tothesocialneedsofcompanies, suchasthedesire toboostthe Business-Airport isacollection ofmembership-based shared officethatwe created Membership-based shared office:Business-Airport Properties withthebestclassenvironmental &socialawareness Properties withexcellent environmental &socialawareness Properties withexceptionally highenvironmental &socialawareness Minato-ku Shin-Aoyama TokyuBuilding Chiyoda-ku Hibiya Parkfront Chiyoda-ku Chuo-ku Minato-ku Chiyoda-ku Hamamatsucho Square TokyuBuilding Honcho Tokyu Building Shibuya Minami Tokyu Building Chuo-ku Nihombashi Front Minato-ku *Plancertification (tentative name) Plan (OfficeBuilding) Takeshiba DistrictDevelopment Minato-ku Chiyoda-ku Chuo-ku Shibuya-ku

Rendering Business-Airport Shibuya Nanpeidai Ebisu PrimeSquare Tower Business TowerEbisu Shinagawa-ku Shin- TokyuBuilding considerations (Green Building). with environmental andsocial 2011 torecognize properties Bank ofJapanInc. (DBJ) inApril was establishedby Development DBJ Green BuildingCertification Shibuya-ku Shibuya-ku ◇ ◆ *Square metervalues inthetableindicate thetotalfloorarea ofeach. *Square List ofOfficeBuildings Minato-ku Chuo-ku Chiyoda-ku

Limited proprietary rightoflandisowned by Activia Properties Inc. Owned wholly orpartially by Activia Properties Inc. SQUARE Tamachi EastBuilding Hamamatsucho WestPlace JDB Building Shiodome Building Hamamatsucho Square Luogo Shiodome A-PLACE ShinbashiEkimae A-PLACE Shimbashi CenterPlace Shimbashi TokyuBuilding A-PLACE Shinagawa Higashi A-PLACE Shinagawa Shinagawa East Shinagawa TokyuBuilding A-PLACE Aoyama Shin-Aoyama TokyuBuilding Spline Aoyama Tokyu Building Minamiaoyama TokyuBuilding St Luke’s Garden Tower Nihonbashi Honcho Tokyu Building Clover Nihombashi Nihombashi Front Nihombashi Maruzen Tokyu Building Transport System Building TLC Akasaka Building Ichigaya TokyuBuilding Sanban-cho TokyuBuilding Ichiban-cho TokyuBuilding Uchisaiwaicho TokyuBuilding Kasumigaseki Place Kasumigaseki TokyuBuilding Hibiya Parkfront ◆ ◆ ◇ ◆ ◆ ◆ ◆ ◆ ◆ Tamachi Sta. Tamachi Sta. Hamamatsucho Sta. Hamamatsucho Sta Hamamatsucho Sta. Hamamatsucho Sta. Shimbashi Sta. Shimbashi Sta. Shimbashi Sta. Shimbashi Sta. Shimbashi Sta. Shinagawa Sta. Shinagawa Sta. Shinagawa Sta. Shinagawa Sta. Gaiemmae Sta. Omotesando Sta. Gaiemmae Sta. Omotesando Sta. Sta. Mitsukoshi-mae Sta. Nihombashi Sta. Nihombashi Sta. Nihombashi Sta. Kyobashi Sta. Akasaka-mitsuke Sta. Ichigaya Sta. Hanzomon Sta. Hanzomon Sta. Shimbashi Sta. Tameike-sanno Sta. Tameike-sanno Sta. Uchisaiwaicho Sta. Approx. 7,520m Approx. 6,238m Approx. 2,565m Approx. 1,737m Approx. 115,931m Approx. 23,947m Approx. 8,243m Approx. 8,542m Approx. 7,144m Approx. 8,776m Approx. 15,070m Approx. 21,114m Approx. 3,938m Approx. 10,105m Approx. 20,592m Approx. 9,958m Approx. 9,691m Approx. 7,501m Approx. 11,994m Approx. 100,713m Approx. 11,739m Approx. 1,127m Approx. 29,265m Approx. 17,474m Approx. 11,724m Approx. 51,492m Approx. 14,597m Approx. 13,766m Approx. 19,867m Approx. 14,376m Approx. 1,118m Approx. 19,191m Approx. 67,123m 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 Osaka Area Metropolitan the Tokyo Suburbs of Bunkyo-ku Toshima-ku Setagaya-ku Shinagawa-ku Shibuya-ku Iwata TokyuBuilding EDGE Shinsaibashi Shinsaibashi TokyuBuilding Gate TowerUmeda Osaka Nakanoshima Building A-PLACE Kanayama Building Chiba TN Omiya MT Building A-PLACE Bashamichi Mejirozaka ST Building A-PLACE Futako TamagawaRise Tower Office Futako Tamagawa RiseOffice A-PLACE GotandaEkimae A-PLACE Nishi Gotanda Tokyu Building Meguro TokyuBuilding Shin-Meguro TokyuBuilding TowerOsaki Wiz Ebisu EastBuilding Ebisu PrimeSquare Tower A-PLACE EbisuHigashi A-PLACE EbisuMinami TLC EbisuBuilding Unosawa TokyuBuilding Business TowerEbisu A-PLACE ASIA BUILDING Nikko Shibuya NampeidaiBuilding Shibuya CenterPlace Shibuya Square B Shibuya Square A Shibuya Dogenzaka Tokyu Building Shibuya Place A-PLACE Shibuya Konnoh Shibuya Shin-minamiguchiBuilding Shibuya Minami Tokyu Building SHIBUYA SOLASTA ◆ ◆ ◆ ◆ ◆ ◆ ◆ ◆ ◆ ◆ ◆ ◆ ◆ ◆ Hommachi Sta. Shinsaibashi Sta. Shinsaibashi Sta. Umeda Sta. Yodoyabashi Sta. Kanayama Sta. Chiba Sta. Omiya Sta. Bashamichi Sta. Edogawabashi Sta. Ikebukuro Sta. Futako-Tamagawa Sta. Futako-Tamagawa Sta. Gotanda Sta. Gotanda Sta. Meguro Sta. Meguro Sta. Meguro Sta. Osaki Sta. Ebisu Sta. Ebisu Sta. Ebisu Sta. Ebisu Sta. Ebisu Sta. Ebisu Sta. Ebisu Sta. Yoyogi Sta. Shibuya Sta. Shibuya Sta. Shibuya Sta. Shibuya Sta. Shibuya Sta. Shibuya Sta. Shibuya Sta. Shibuya Sta. Shibuya Sta. Shibuya Sta. Shibuya Sta. Approx. 6,785m Approx. 23,483m Approx. 10,878m Approx. 22,003m Approx. 34,249m Approx. 12,783m Approx. 20,590m Approx. 9,749m Approx. 14,009m Approx. 5,240m Approx. 4,709m Approx. 157,016m Approx. 106,752m Approx. 5,961m Approx. 5,783m Approx. 4,150m Approx. 9,713m Approx. 22,369m Approx. 54,364m Approx. 6,139m Approx. 32,021m Approx. 5,321m Approx. 12,168m Approx. 10,298m Approx. 17,038m Approx. 28,260m Approx. 4,202m Approx. 2,966m Approx. 6,538m Approx. 7,293m Approx. 2,625m Approx. 9,999m Approx. 12,149m Approx. 4,445m Approx. 4,332m Approx. 9,014m Approx. 19,902m Approx. 46,954m 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 18

OVERSEAS BUSINESSES WELLNESS RESIDENTIAL URBAN DEVELOPMENT 19 Main Brands Always It’s You. Commercial Facilities Landmark Commercial Facilities Our Wish for BetterCityLiving Tokyu Plaza Always for you, Always withyou. AlwaysIt's You. With ourthoughtsinthesewords, wewill take thenext stepforward. Creating andnurturingtheplaces intowns thatyou can love. Conceiving ideasfrom perspectives ofyou whocome totown. the townsofwhichthey are thecenter. we have integrated ourfacilitieswithineachcommunityandcontributedtothedevelopment of we continuetocherishourapproach toMachi-Zukuri (communitydevelopment), through which facilities business by examining issues from the perspective of the customer. At the same time, a range of commercial facilities all over Japan. We will continue to operate our commercial and othertowns, blazinganewpathintheindustry. Sincethen, wehave developed andoperated In the1960s, webeganoperating Tokyu Plazaurbancommercial facilitiesinShibuya, Kamata, An UrbanShoppingComplex Suited to EachUniqueCommunity Q Plaza A Friendly ShoppingMall Seeking CloseLocal Ties Q’s MALL A DynamicShoppingComplex with All theMajorSpecialtyStores Market Square Location: Dogenzaka, Shibuya-ku, Tokyo Open:December 2019(planned) the passageoftimewhilevaluing thevirtuesofthingsthatare genuine, essential, anduniversal. will provide supportfor spaces intendedfor urbanadultswithamature sensitivity, withthekeywords MELLOW LIFE. We the area around it. Guidedby thesloganof SHIBUYA FUKURAS, whichwehave beendeveloping ontheformer siteof Tokyu PlazaShibuya and The new Tokyu PlazaShibuya isplannedtoopenon2nd8thfloors and17th18thfloors of A newcommercial facilityforurbanadults Tokyu PlazaShibuya IKEBUKURO SHIBUYA beauty, health, diet, and life planning a plaza in Shibuya where adults gather , andpropose a lifestyle ofenjoying Rendering Location: HigashiIkebukuro, Toshima-ku, Tokyo Open: July 2019 create diversity andflow of foot inthesurrounding area. cooperating withthelocal communityto contributes totown revitalization by with thelargest screens inJapan. It 16 diverse tenants, includingacinema of Arts&Culture through avisionofan ku government intoamulticultural city is beingtransformed by the Toshima- entrance ofIkebukuro Station, which has beencompletedneartheeast A newlarge-scale commercial facility of One ofthelargest commercial buildingsinthearea around theeastentrance Q PlazaIkebukuro . The building features , weare creating International City International City

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OVERSEAS BUSINESSES WELLNESS RESIDENTIAL URBAN DEVELOPMENT 21 Morinomiya Q’sMALLBASE Tokyu PlazaOmotesandoHarajuku Location: Ginza, Chuo-ku, Tokyo Open:March 2016 space, providing anew, relaxing location for thepublic. a variety ofhigh-class, trendy shopsandanexpansive public world becomesexciting from here facility was created basedontheconceptof Located attheSukiyabashi Crossing inGinza, thiscommercial tradition andinnovation A newlandmarkthataddstotheappealofGinza, atownof Tokyu PlazaGinza . The 13-storyfacilitycontains Creative Japan Q PlazaFutakotamagawa : The Futako Tamagawa RiseShopping Center Terrace Market The JewelsofAoyama local partnerinJapan. (NBREM). For Norges Bank, TOKYU LANDCORPORATION isitsfirst investment project with Norges Bank Real Estate Management The Iceberg, The JewelsofAoyama, andCinnamon–inajoint facilities in the Greater Shibuya Area In December2017, webegantoown andoperate five commercial Joint Ownership andOperation withNorges Bank ©URBAN ARTS Market Square Kawasaki East The IceCubes - The Ice Cubes, V28 Building, ©Naoomi Kurozumi Nagata-ku 25 Setagaya-ku 15 16 Tokyo Hyogo 17 2 6 3 Shibuya-ku 7 4 Ota-ku 8 Toshima-ku 19 5 18 9 1 1 Minato-ku Takarazuka-shi 1 3 1 2 Chiyoda-ku 1 26 4 Yokohama /KawasakiSagamihara 10 Amagasaki-shi Chuo-ku 20 Kanagawa 27 1 21 22 23 Minoh-shi 24 28 Osaka Kita-ku Abeno-ku 29 30 Chuo-ku 33 31 34 32 ◇ ◆ Major facilitiesintheKansaiArea Major facilitiesinthe Tokyo Metropolitan Area

27 26 25 04 03 02 01 34 33 32 31 30 29 28 09 08 07 06 05 24 23 22 21 20 19 18 17 16 15 14 13 12 11 10 Activia Properties Inc. Limited proprietary rightoflandisowned wholly orpartially by Owned wholly orpartially by Activia Properties Inc. Amagasaki Q’sMALL Market Square Nakayamadera Tokyu PlazaShinnagata Q PlazaHarajuku Tokyu PlazaOmotesandoHarajuku Tokyu PlazaShibuya Tokyu PlazaGinza Ekimo Tennoji Abeno Q’sMALL Q PlazaShinsaibashi Ekimo Namba Morinomiya Q’sMALLBASE Ekimo Umeda Minoh Q’sMALL Q PlazaEbisu Shibuya Beam The Iceberg V28 Building The Ice Cubes Market Square Sagamihara Market Square Kawasaki East Saclass Totsuka TokyuPlaza Totsuka Northport Mall Tokyu PlazaKamata Q PlazaIkebukuro Q PlazaFutakotamagawa Terrace Market Futako Tamagawa RiseShoppingCenter Futako Tamagawa RiseShoppingCenter Decks TokyoBeach Cinnamon The JewelsofAoyama Glassarea Aoyama Tokyu PlazaAkasaka

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OVERSEAS BUSINESSES WELLNESS RESIDENTIAL URBAN DEVELOPMENT 23 Infrastructure also workonsomedevelopment projects independently. experience incomprehensive real estatedevelopment. We improving the logistic efficiency by taking advantage of our under thebrand nameLOGI'Q, aimingtocater toneedsfor We have entered thebusinessofdeveloping logisticsfacilities Logistic facilities Airport concession & Industry We have setaspecifictarget, underwhichweare workingtocreate asustainablesociety. at sourcing 100%ofelectricityconsumedinbusinessactivities from renewable sources. In April2019, TOKYU LANDCORPORATION joinedRE100, aninternationalinitiative aimed Participation inRE100, anInternationalInitiative Our target Sourcing 100%ofelectricityconsumedinbusinessactivitiesfrom renewable sources by 2050 earnings power. businesses in airports, logistic facilities, renewable energy plants, and others to expand our Group targets theinfrastructure industryfornewinvestment. We aggressively operate strategies underthe In the expansion ofthescope ofcyclical reinvestment business Kuwana Completion: June2019 Location: Hirakata-shi, Osaka LOGI’Q Hirakata Completion: May 2019 Location: Kuwana-shi, Mie Logistics Center TOKYU LANDCORPORATION. through SendaiInternationalAirportCo., Ltd., establishedby seven companiesincluding government (airportconcession). We are involved intheoperation ofSendaiAirport We are participatinginJapan’sfirst privatization ofanairportmanaged by thecentral Medium-Term ManagementPlan2017 problems. for the future to tackle local, social, and environmental name ReENE, aimingtodeliver newvalue andcleanenergy We operate arenewable energy businessunderthebrand Renewable energy

- 2020 , whichisoneofourgrowth , the Tokyu Fudosan Holdings Commencement of operation: July 2016 Location: Natori-shi, Miyagi Sendai Airport June 2018 Commencement ofoperation: Location: Ichinoseki-shi, Iwate April 2019 Commencement of operation: Hokkaido Location: Matsumae-cho, Power Plant Yoshitaka Solar Ichinoseki City Wind Farm ReENE Matsumae Management in theinfrastructure industryasanewinvestment target. CORPORATION hasastake. Inadditiontoofficebuildings, commercial facilities, and residences, we are enhancingourinitiatives third parties, andmanagemententrustedby specificpurposecompaniesorspecialinwhich TOKYU LAND We respond todiverse investor needsinanumberofways, suchasthrough private placementfunds, managemententrustedby Asset managementcompany: Tokyu LandCapitalManagementInc. Real estateprivate funds “ia” istheLatinword for “place.” Asset managementcompany: TLC REIT ManagementInc. Three REITs offered by TOKYU LANDCORPORATION Investment Broad places Broad +ia Broadia Comfortable places Comfort +ia Comforia people Places which Activate +ia Activia and inspectionofequipment, cleaningmanagement, andsecurityservices. Building Management handling themanagementandmaintenance ofbuildings. Property Management Holdings Group possesses. We aimtomaximizeinvestor value, takingadvantage ofthewidevariety ofassetsandcomprehensive supportsystem Tokyu Fudosan Comprehensive capabilities oftheGroup Facility Management PM /Facility activate Development (BM) involves comprehensive managementoperations aimedatensuring the safety ofbuildingoperations, suchasthemanagement Listed REIT Listed REIT placement (PM) involves leasingmanagementoperations aimedatincreasing theassetvalue ofreal estatesuchasby attracting tenants and Private REIT respond todiversifying investment needs. investment opportunities, worktofurtherrevitalize thereal estateinvestment market, and country, withthemajoritybeingin Tokyo Metropolitan Area. We will continuetocreate new commercial facilities, andresidences. We operate theseassetsinmajorcitiesacross the placement REITs, etc. by makingeffective useofprimeassetssuchasofficebuildings, We actively promote thereal estatemanagementbusinessthrough listedREITs, private Broadia Private REIT, Inc. Managing body Comforia Residential REIT, Inc Managing body Activia Properties Inc. Managing body Hotel Management PM Healthcare /LogisticfacilityHotel Others Housing Office building/Commercial / facility Major investment targets Housing Major investment targets (Includes hoteltenants) Commercial facility Office building Major investment targets Senior HousingManagement TOKYU E-LIFE DESIGN Inc. DESIGN E-LIFE TOKYU PM /BM

・・・・・・Managed real estatedeveloped by TLC Managed real estatedeveloped by TLC COMFORIAKamata, andothers COMFORIASetagaya Kamiuma COMFORIAAkasaka QPlazaEbisu, andothers ShiodomeBuilding Tokyu PlazaOmotesandoHarajuku Real EstateAgents Retail Sales - 24

OVERSEAS BUSINESSES WELLNESS RESIDENTIAL URBAN DEVELOPMENT RESIDENTIAL

Shining a new light on housing

Our history goes back to the development of Den-en Chofu in 1918. We developed Daikanyama Tokyu Apartment in 1955, Japan's first luxury rental apartment complex for foreign nationals. All of the rooms were Western-style, which was rare at the time. We developed Tokyu Skyline in 1958, the industry’s first condominium. In each era, we have worked to develop innovative residences that are loved by people. Our aim is to appeal to the sensibilities of residents and make their lives beautiful, even in terms of quality. We will continue to propose outstanding residences and lifestyles, which become better with the passage of time, by responding to societal changes and listening to customer feedback.

Student Senior Condominiums Residences Residences Housing (Wellness)

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25 BRANZ Yonbancho 26 27 Condominiums for safety, lifelong use, andcomfort, wewill continueouruncompromising pursuit ofexcellence inhousingdevelopment. top qualitythroughout theirusefullives. With valuable designshandeddown over timeandourunique, rigorous qualitystandards BRANZ istoensure thefuture value ofbuildingsandtowns thatare filled withtruebeauty. We keep these residences andassets BRANZ represents theculminationofexperience andknowledge incomplex housingthatwehave developed. The aimof Housing thatrefines your life Condominiums andDetachedHousing:BRANZ Support for aBrilliant Life asIndividuals and Design EmbodyingSensibility − − Community Members

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DESIGN other changes. that caters totheneedsoftimes, reflecting theagingpopulation, diverse lifestyles, and renovated condominiums. We thereby promote thedevelopment ofhigh-qualityhousing we offerBRANZbrand condominiums, establishedin2006, andtheMAJESseriesof extensively Since the1950s, wehave developed for-sale housingthatisbeloved by customers. Currently,

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Location: , Minato-ku, Tokyo Floors: B3F-27F/83units MAJES TOWERROPPONGI condominium buildingwithatruly highsenseofrare value duetoitslocation inthecenterof Tokyo. popular urbanareas in Tokyo. With MAJES, weofferacondominium featuring aprestigious designsuited for thelocality by fully renovating a this businesstoreflect thesocialimportanceof existing residential stockandthegrowing demand for pre-owned condominiumslocated in We operate abusinessofproviding upgraded andrenovated condominiumsthatsetsandusapartfrom ordinary renovations. We launched original product plan, from theunique perspective ofBRANZ. questionnaires, andvisitthehomesofcustomers. Byreferring tocustomers’ opinionsontheseactivities, weofferMEUP, our BRANZ VOICE isoneofourinitiatives for listeningtocustomerfeedback. For example, weholdgroup interviews, conduct BRANZ owners. Group, weofferafull range ofservicesto capabilities of Tokyu Fudosan Holdings services. Drawing upon the comprehensive after-sales services, avariety of courtesy need before they move intotheirnewhome, provide customers with the information they to widearray ofhospitalityandservice. We an owner of BRANZ, you will gain access The momentyou concludeacontract as BRANZ SUPPORT Recreating supreme residences inenviable locations Highly Renovated Condominiums:MAJES BRANZ VOICE (explanatory sessionfor prospective tenants) BRANZ Friendship Party further upgrade thelifestyles ofthepeoplewholive inBRANZresidences. sense ofbeautytothemovements ofusers. Selectelementsoffunctionalbeauty shapes thatenhancethedaily lives ofthepeople who live there andeven addsa capabilities ofBRANZ. Asaresult, weultimately discovered newsophisticated for daily life from a unique perspective, reflecting theknowledge and comprehensive customer needs. Drawing uponcustomerfeedback, weexamined theideal functions functional beautywithusabilityandsophistication, whichanticipatestheessenceof MEUP isouroriginalproduct plancreated from BRANZ VOICE. MEUPproposes MEUP: Functional beautythatenhancesyour daily life Location: Moto-, Minato-ku, Tokyo Floors: 3F-5F/41units MAJES MOTO-AZABU GARDENS

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OVERSEAS BUSINESSES WELLNESS RESIDENTIAL URBAN DEVELOPMENT 29 Floors: B1F-48F/1,152unitsCompletion:March 2022(planned) Location: ,Koto-ku, Tokyo BRANZ TOWER Toyosu Rendering Floors: B2F-14F/21unitsCompletion:February 2019 Location: Nagata-cho, Chiyoda-ku, Tokyo BRANZ Nagatacho Floors: B2F-8F/50unitsCompletion:January2019 Location: Roppongi, Minato-ku, Tokyo BRANZ Roppongi The Residence Completion: January, July 2017 Floors: B1F-4F/252units Location: Nakamachi, Setagaya-ku, Tokyo annexed seniorhousingfacility. through Grancreer Setagaya Nakamachi, an generational interactions are facilitated people raising children. Inaddition, multi- common useisextremely attractive to of thebroad sitewithvarious facilitiesfor district inSetagaya-ku. The expansive area a Category1low-rise exclusive residential completed atanapprox. 33,000m An idealresidential complex hasbeen to thenext lifestyle continuityfrom onegeneration interaction betweengenerations and Town development whichpromotes BRANZ CITY Setagaya Nakamachi 2 sitein Floors: B1F-8F/53unitsCompletion:July 2019 Location: Odorinishi, Chuo-ku, -shi, Hokkaido BRANZ Maruyama Gaienmae Floors: 1F-6F/79unitsCompletion:January2019 Location: Tamagawa,Setagaya-ku, Tokyo Futako-TamagawaBRANZ Terrace Floors: 1F-15F/39unitsCompletion:February 2019 Location: Rokuban-cho, Chiyoda-ku, Tokyo BRANZ Rokubancho Floors: B1F-50F/653unitsCompletion:November 2019(planned) Location: Toyosaki, Kita-ku, Osaka-shi, Osaka BRANZ TOWER UmedaNorth BRANZ TOWER Midosuji Honmachi Floors: B1F-38F/276units Completion:October2017 Location: Minamimoto-cho, Chuo-ku, Osaka-shi, Osaka urban nightview. lets in light in various parts, adding new beauty to the new style of condominium in the city center. It also consolidated on the top floor, thereby embodying a Honmachi won this award. It has shared facilities designs. Infiscal 2018, BRANZ TOWER Midosuji of DesignPromotion, inrecognition of their good Design Award, whichishostedby JapanInstitute continued to be selected as winners of the Good TOKYU LANDCORPORATION condominiumshave Good DesignAward Rendering 30

OVERSEAS BUSINESSES WELLNESS RESIDENTIAL URBAN DEVELOPMENT Housing solutions in response to changing times Urban Rental Residences: COMFORIA Residences For a superior level of living comfort People’s lifestyles change with the times, resulting in strong demand for new residential concepts. To address diverse social issues, we work to comprehensively create value by involving towns and local areas. We revitalize towns by providing solutions in response to local needs, such as the redevelopment of areas around stations and the creation of communities. COMFORIA is a series of urban rental residences produced by TOKYU LAND CORPORATION. These leased residences, which are suitable for people who enjoy free, prosperous lifestyles in urban areas, were created based on the concept that residences are more than just containers. They offer a high levels of comfort that exceeds expectations with the four advantages of Location Redevelopment projects (valuable time), Quality (high quality feeling), Safety (a place for peace of mind), and Service (attention to the feelings of residents). URBAN DEVELOPMENT There are many areas that need to be redeveloped, either to enhance preparedness capacity or to revitalize the local community. Typical examples are the areas in Tokyo overcrowded with wooden houses. We promote redevelopment projects, both to improve preparedness measures and to contribute to local communities, creating safe, secure towns. RESIDENTIAL COMFORIA Shinnakano COMFORIA Kitahorie COMFORIA Takinogawa COMFORIA Higashi- RESIDENTIAL

Location: Honcho, Nakano-ku, Tokyo 1-chome Location: Takinogawa, Kita-ku, Front Floors: 1F-12F / 138 units Floors: 1F-15F / 123 units Completion: March 2019 Location: Kitahorie, Nishi-ku, Osaka-shi, Osaka Completion: September 2018 Location: Shinjuku, Shinjuku-ku, Tokyo Floors: 1F-14F / 137 units Floors: B1F-12F / 99 units Completion: February 2019 Completion: March 2017

Rendering Rendering Student CAMPUS VILLAGE BRANZ TOWER Ofuna BRANZ TOWER Hagoromo Residences Residences that propose a modern student lifestyle and a safe and

Location: Kasama, Sakae-ku, Yokohama-shi, Kanagawa Location: Higashi Hagoromo, Takaishi-shi, Osaka secure living environment for students as the future leaders of society Floors: B2F-21F / 253 units Completion: December 2020 (planned) Floors: 1F-23F / 145 units Completion: August 2019 (planned)

We entered the business of developing student residences in 2017, to cater to the housing needs that continue to change with WELLNESS the times, reflecting the increasing rate of women who receive higher education, growing number of international students, and an increasing rate of students who receive a graduate education. Working together with NATIONAL STUDENTS INFORMATION CENTER CO., LTD., a Tokyu Fudosan Holdings Group company, we provide services ranging from the development of student residences and acquisition of properties, to management and operation of the residences, in a group-wide manner.

Rendering Rendering OVERSEAS BUSINESSES

BRANZ CITY Hasuda Tokorozawa Higashi-cho Block Urban Redevelopment Project CAMPUS VILLAGE Akabane Shimo CAMPUS VILLAGE Kyoto Nishi Kyogoku

Location: Honcho, Hasuda-shi, Saitama Location: Higashi-cho, Tokorozawa-shi, Saitama Location: Shimo, Kita-ku, Tokyo Location: Kita Oiri-cho, Nishi Kyogoku, Ukyo-ku, Kyoto-shi, Kyoto Floors: 1F-14F / 168 units Completion: October 2020 (planned) Floors: B2F-29F / 155 units Completion: November 2021 (planned) Floors: 1F-8F / 233 units Completion: February 2019 Floors: 1F-7F / 113 units Completion: March 2019

31 32 WELLNESS Providing quality time and experiences

In Japan, a super-aging society, expectations have increased for the health and longevity industry. Our wellness business covers a wide range of fields including leisure, senior living, and health. As a comprehensive wellness business operator, we aim to help each generation to live vibrantly in their own style while creating diverse Senior Life Resorts Fitness Urban Style Consignment Hotels Welfare business opportunities through inter-domain cooperation. By taking advantage of our various facilities and services, we encourage healthy lifestyles, provide residences where senior citizens can live with a sense of security, and promote other measures for creating quality times and quality experiences.

33 34 35 solutions thatconnectall generations andmake them smile. business domains, wepromote inter-domain collaborations toprovide with adecliningbirthrate? Bytakingadvantage ofourwiderange of generation asvalues becomediversified andthepopulationages What lifestyles andtown development will bedemandedby thenext Condominiums andSeniorhousing Creer Residence Yokohama Tokaichiba Dresser Yokohama Tokaichiba Location: Tokaichiba-cho, Midori-ku, Yokohama-shi, Kanagawa promote interactions betweenresidents andvisitors. senior housing facilities. We will also deepen common area management to a small supermarket, andotherfacilities, inadditiontocondominiumsand In thetwo-blocksite, wehave builtahomecare servicesoffice, anursery, Yokohama, TOKYU CORPORATION, UrbanDevelopment andNTT Corporation. largest joint development projects in Midori-ku with the city government of At Tokaichiba, Midori-ku, Yokohama-shi, weare workingononeofthe Aiming tocreate asustainabletown Tokaichiba Project Senior Life TOKAICHIBA SETAGAYA NAKAMACHI Grancreer Setagaya Nakamachi Open: SeniorfloorApril2019, Care floorJune2019 Completion: July 2019 of seniorhousing. our experience and expertise developed asthe pioneer comprehensive developer inthefield with residents by helpingthemtocreate richtimesandnewways oflivinghappily basedon each person tolive intheirownstyle, regardless oftheirage. We continueto move forward safe, comfortablelives ofseniorcitizens. At thecore oftheseactivitiesisourdesire toenable Through thedevelopment oftownsandhousing, weprovide comprehensive supportforthe town functions for several generations ofresidents. Here wepursue the Community Plaza, ashared facilitythat isopentothelocal community, hassupport between generations andlifestylecontinuityfrom onegeneration tothenext facility. Planned under the theme of Nakamachi, acondominium, andGrancreer Setagaya Nakamachi, aseniorhousing The project is a joint development project for the construction of BRANZ CITY Setagaya Grancreer Setagaya Nakamachi BRANZ CITY Setagaya Nakamachi Location: Nakamachi, Setagaya-ku, Tokyo Creating an Setagaya Nakamachi Project where many generations can continue to live comfortably with a sense of security. ideal lifestyle Open: Seniorresidence July 2017, Care residence September2017 Completion: January, July 2017

town developmentwhich promotes interaction CreerResidence YokohamaTokaichiba Rendering (overall project) creation ofanideal , the * Fixed-term leasehold:UntilJanuary31, 2054 Land: Leased* * Fixed-term leasehold:UntilJuly 31, 2088 Land: Leased* with nursing care supportsoresidents can ageinplace. even thoughthey are private spaces, andcare residences offer senior residences that feature high-qualityservices business mission statement of Tokyu Fudosan Holdings Group. Remaining truetoour years of experience, and the extensive capabilities of the expertise inhousingdevelopment cultivated through many We have created Grancreer by takingadvantage ofthe Senior housing:Grancreer * Fixed-term leasehold:UntilFebruary 28, 2061 Land: Leased* (including theperiodfor demolition) 15 14 13 (including theperiodfor demolition) (including theperiodfor demolition) 9 1 5 Assisted-Living Senior Housing Grancreer 2-chome Senior Residence Grancreer Setagaya Nakamachi Grancreer Azamino Grancare Azamino Grancreer SeijoCare Residence Care Residence Grancreer Setagaya Nakamachi Building: Ownedby theoperator Building: Ownedby theoperator Building: Ownedby theoperator My own style, foralltime Building: Leased Land: Notowned by theoperator - Building: Leased Land: Notowned by theoperator 10 6 2 Grancreer Seijo Grancreer Utsukushigaoka Building: Leased Land: Leased Creer Residence Sakuradai

, we Nakayama Nagatsuta 12 JR Yokohama JR 18 Tokaichiba Subway Green Line Green Subway Municipal Yokohama 11 3 Aobadai 18 17 16 7 8 9 Building: Leased Land: Notowned by theoperator Grancreer Bajikoen Building: Leased Land: Notowned by theoperator Grancreer CenterMinami Building: Leased Land: Notowned by theoperator Senior Residence Grancreer Fujigaoka Tokaichiba Care Floor ResidenceCreer Yokohama Care Residence Grancreer Aobadai 2-chome Care Residence Grancreer Fujigaoka 10 17 Fujigaoka 11 16 Yokohama Municipal Municipal Yokohama Subway Blue Line Blue Subway 7 Azamino 5 15 Center Minami Tokyu Den-en-toshi Line Den-en-toshi Tokyu

Tama-Plaza 6 Inokashira Keio Seijogakuen-mae Tokyu Oimachi Line Oimachi Tokyu * Fixed-term leasehold:UntilJanuary30, 2070 Land: Leased*Building:Ownedby theoperator * Fixed-term leasehold:UntilFebruary 28, 2061 Land: Leased* Building: Leased Land: Notowned by theoperator * Fixed-term leasehold:UntilJanuary30, 2070 Land: Leased*Building:Ownedby the operator (including theperiodfor demolition) (including theperiodfor demolition) Tamagawa (including theperiodfor demolition) 12 4 Futako- 8 2 14 Yoga Lifenix Takaido Building: Ownedby theoperator Land: Leased Grancreer Aobadai Tokaichiba SeniorFloor ResidenceCreer Yokohama 1 3 13 Sakurashinmachi 4 Building: Ownedby theoperator Takaido Odakyu Odawara Line Odawara Odakyu JR Yamanote Line Yamanote JR Shibuya Hanzomon Line Hanzomon Metro Tokyo Shinjuku 36

OVERSEAS BUSINESSES WELLNESS RESIDENTIAL URBAN DEVELOPMENT 37 Location: Kyoto-shi, Kyoto Open: 2014 Tokyu Harvest ClubKyoto Takagamine & VIALA Japan. They enjoy atotalofapproximately 25,000members. region. The facilities are hotels for members only, and are available at 25 facilities across variety of resort businessesthattake advantage of the rich natural environment of each of owning a resort villa and the comfort of staying at a hotel Tokyu Harvest Clubwas launchedin Tateshina in1988, basedontheconceptof Membership resort hotels: Tokyu Harvest Club Resorts global needsandimproving thelevel ofsatisfactionourguestsinJapan. featuring regional characteristics. Bytakingadvantage ofourstrengths, weare catering to and othercountries, weare workingtoeffectively highlighttheappealofJapanese resorts strategies. Asacompany thatoperates adiverse range offacilitiesatleadingresorts inJapan on the demand from inbound tourists as a tourism-based country is one of Japan’s growth In lightofthesignificant increase inoverseas visitors toJapanin recent years, capitalizing Location: Atami-shi, Shizuoka Open:2013 Tokyu Harvest ClubAtami Izusan& VIALA Rendering . Sincethen, wehave operated a Location: Kitasaku-gun, Nagano Open:July 2018 new way toenjoy Karuizawa. dining facilities, andtheGreen Field, alushgreen openspace. The resort offers a a large publicbathingarea withanopen-airbath, anindoorswimmingpool, three facilities, suchasalounge with anopenceiling that provides aviewofMt. Asama, Mt. Asama. Inthis 5-hectare openspace, wewill establish a variety of common resort hotelfor awidevariety ofactivitiesthatcommandsapanoramic viewof established resort areas inJapan. Itwill belocated next toKaruizawa Taliesin, a A newHarvest ClubhasbeenopenedinKaruizawa, oneofthemostwell- Many openspacesthatoffernew ways toenjoyKaruizawa Tokyu Harvest ClubKaruizawa & VIALA the pleasure Location: Kobe-shi, Hyogo Open: 2010 Tokyu Harvest ClubArimaRokusai & VIALA Open: August 2018 Location: Onnason, Kunigami-gun, Okinawa will addvalue inthearea. and thebeautifulnature. Through thisproject, we taking advantage ofthecharacteristics ofthearea are creating auniquehotelwithstrong presence hospitality to customers from all over the world, we of theHyatt brands, tooperate thishotel. To provide Okinawa. We have contracted Hyatt Regency, one after resort destinationsonthemainislandof west coastofOnnason, oneofthemost sought- We have completedalarge resort hotelonthe in cooperation withthelocal community Development ofaforeign-affiliated luxuryhotel Hyatt Regency Seragaki IslandOkinawa Location: Palau Open:1984 water bungalows inMicronesia. to customerneeds, for example, by introducing thefirst years ofhistory. We addtothehotel's appealby catering Pacific Resort, aluxury resort hotel, boasts more than30 area andcontributetothe local community. OurPalau we have beenstrivingtoprotect theenvironment ofthis the UNESCO World Heritage List. For more than 40 years, ocean area, including the Rock Islands, was inscribed on We have along-established relationship withPalau, whose a stunningview A hotellocated ata World HeritageSitecommanding Palau Pacific Resort Overseas Resorts Resort Complexes Resort Hotels

Location: Chino-shi, NaganoOpen:1978 this facilityundertheconceptof response toneedsatthetime. In2017, wepartially renovated resort, hotels, andotherfacilitiesonthis664-hectare sitein mid-1970s, weopenedcountryhouses, agolfcourse, aski Tokyu Resort Town Tateshina boasts a long history. In the people toenjoy Among ourmultipleall-in-one resort complexes thatallow An experience-based newresort life TokyuResort Town Tateshina value onatouchofclass. adventure. We actively provide newserviceswhileplacing introducing newleisure facilitiessuchasglampingandforest playing, staying, andeating Morigurashi in thesameplace, (living inaforest), 38

OVERSEAS BUSINESSES WELLNESS RESIDENTIAL URBAN DEVELOPMENT Ski Resorts We operate ski resorts at nine locations across Japan, operating all but one of them ourselves. such as NISEKO Mt. RESORT Grand HIRAFU. These resorts can be enjoyed by anyone, and offer a nice variety of facilities and a choice of courses. They can also be used as summer resorts for a wide range of activities. URBAN DEVELOPMENT Grandeco Snow Resort (Ura Bandai) Tangram Ski Circus (Madarao) Tambara Ski Park Ski Jam Katsuyama

Golf Courses Our golf courses have a 40-year history, stretching back to 1975 when the Oita Tokyu Golf Club was opened. NISEKO Mt. RESORT Grand HIRAFU Currently, we operate a variety of golf courses, taking advantage of the natural terrain at 23 locations across Adding to the appeal of the Niseko brand Japan (including three facilities for which operation is outsourced). We provide optimal services for individual The Niseko area in Hokkaido is globally known for its international ski resorts customers with various golfing needs. that boast the first powder snow. We have been involved in the development of resorts in Niseko since 1985. In recent years, we have been promoting the appeal of the area to people all over the world through our experience-based resorts, where visitors can enjoy themselves year-round. For example, we highlight the appeal of Niseko as a summer retreat, in addition to a ski resort. We will continue contributing to the development of Niseko by capitalizing on

the growing demands of inbound tourists. RESIDENTIAL

Location: Kutchan-cho, Abuta-gun, Hokkaido Open: 1961 Kiminomori Golf Club Asakura Golf Club Arita Tokyu Golf Club Aso Tokyu Golf Club

Tokyu Harvest Club Resort Hotels Overseas Resorts Golf Courses Ski Resorts

01 Tokyu Harvest Club Karuizawa & VIALA 26 Hyatt Regency Seragaki Island Okinawa 39 Palau Pacific Resort 01 Nasu Kokusai Country Club 01 NISEKO Mt. RESORT Grand HIRAFU

02 Tokyu Harvest Club Urabandai Grandeco 27 Hotel NISEKO Alpen 02 Itakura Golf Course ◆ 02 Grandeco Snow Resort (Ura Bandai)

03 Tokyu Harvest Club Nasu 28 Urabandai Grandeco Tokyu Hotel Palau 03 Tsukuba Tokyu Golf Club 03 Hunter Mountain Shiobara 04 Tokyu Harvest Club Nasu Retreat 29 Hotel Tangram Madarao 04 Sashima Country Club 04 Mt. JEANS Nasu 39 05 Tokyu Harvest Club Kinugawa 30 Tateshina Tokyu Hotel 05 Summit Golf Club ◆ 05 Tambara Ski Park 27 01 06 Tokyu Harvest Club Kyu-karuizawa 31 KYUKARUIZAWA KIKYO 06 Omigawa Tokyu Golf Club 06 Tangram Ski Circus (Madarao) Curio Collection by Hilton 07 Tokyu Harvest Club Kyu-karuizawa Annex 07 Shibayama Golf Club 07 Tateshina Tokyu Skiing Area WELLNESS WELLNESS

08 Tokyu Harvest Club Tateshina 08 Kiminomori Golf Club 08 Fujimi PANORAMA Resort ◆ 09 Tokyu Harvest Club Tateshina Annex Resort Complexes 09 Otakijo Golf Club 09 Ski Jam Katsuyama

10 Tokyu Harvest Club Tateshina Resort 32 Tokyu Nasu Resorts 10 Katsuura Tokyu Golf Course

11 Tokyu Harvest Club Madarao 33 Madarao Tokyu Resort 11 Asakura Golf Club 11 29 33 16 06 12 Tokyu Harvest Club Katsuura 34 Tokyu Resort Town Tateshina 12 Tsurumai Country Club

13 Tokyu Harvest Club Hakone Myojindai 35 Tokyu Resort Town Katsuura 01 06 07 31 13 Kawasaki Kokusai Ikuta-Ryokuchi Golf Course ◆ 15

14 Tokyu Harvest Club VIALA Hakone Hisui 36 Amagi Tokyu Resort 08 09 10 30 34 14 Tateshina Tokyu Golf Course 14 07

15 Tokyu Harvest Club Hakone Koshien 37 Tokyu Resort Town Hamanako 15 Mochizuki Tokyu Golf Club 02 01 04 16 Tokyu Harvest Club Atami Izusan & VIALA 38 Katsuyama Tokyu Resort 02 28 16 Madarao Tokyu Golf Club 04 38 22 03 04 32 17 Tokyu Harvest Club Amagi Kogen 17 Amagi Kougen Golf Course 03 05 05 05 20 19 09 18 Tokyu Harvest Club Ito 18 Kansai Country Club 02 03 19 Tokyu Harvest Club Yamanakako Mount Fuji 19 19 Yoshikawa Country Club 13 23 24 18 20 Tokyu Harvest Club Shizunami Kaigan 20 12 35 20 Miki Yokawa Country Club 06 21 Tokyu Harvest Club Hamanako 26 21 Arita Tokyu Golf Club 21 25 13 14 15 12 07 22 Tokyu Harvest Club Ski Jam Katsuyama 22 Oita Tokyu Golf Club 22 23 09 08 23 Tokyu Harvest Club Kyoto Takagamine & VIALA 17 36 16 23 Aso Tokyu Golf Club 08 17 10 11 24 Tokyu Harvest Club Arima Rokusai & VIALA 21 37 18 OVERSEAS BUSINESSES

25 Tokyu Harvest Club Nanki Tanabe ◆ Facility whose operation is outsourced to Tokyu Resort Service Co., Ltd. As of August 2019

39 40 41 TOKYU SPORTSOASISClubs(38shops) List of TOKYU SPORTS OASIS Clubs locomotive syndrome andmeasurement ofphysical fitness, whichare given by JuntendoUniversity. services, suchastheindustry’sfirst useofwearable devicesinswimmingpools, andorganized seminars ontheprevention of the provision ofOASIS LINK, ahealthmanagementappoffered atall ofourclubs, aswell astheplanninganddevelopment ofICT supporting healthy living Remaining truetoitscorporate message, Where peopleandmoments shine Fitness Region Kanto We provide richexperiences tocustomers, capitalizing on thestrengths ofouraffiliates, includingtheirmanagement capabilities. Our Wellnessaffiliates Kanagawa Chiba Saitama Tokyo Resort Facility Management Fitness ClubManagement from full-scale exercise tocompleterelaxation. the Kansairegion. We provide We operate TOKYU SPORTS OASIS, ourmembers-only fitnessclubs, mainly inthe Tokyo metropolitan area and Fitness: TOKYU SPORTS OASIS Yokosuka 24Plus Totsuka Kohoku Musashi-Kosugi 24Plus Hon-Atsugi Sagamihara 24Plus Kamiooka Narashino 24Plus Matsudo Urawa 24Plus Kawaguchi Minami-Koshigaya Minami-Osawa 24Plus Musashi-Koganei Yukigaya 24Plus Tamagawa St Luke’s Garden Honkomagome Kanamachi 24Plus Akatsuka 24Plus Jujo 24Plus Aoyama Shinjuku 24Plus RAFEEL Ebisu . We promote awidevariety ofactivitiesthatcontributetoextending healthy life expectancy, including Where peopleandmomentsshine Health SalonforAdults“Rakutive”(6shops) Region Kanto Region Kansai healthy lifestyles Resort Property SalesandBrokerage Tokyu Resort Corporation Kanagawa Tokyo Hiroshima Hyogo Osaka Kyoto Consignment Welfare Tsurugaoka 24Plus Abeno 24Plus Shinsaibashi WEST24Plus Shinsaibashi EAST 24Plus Umeda Ibaraki 24Plus Esaka 24Plus Morinomiya Q'sMALL Suminodo 24Plus Katsuragawa 24Plus Aobadai Azamino Yokohama Wakabadai Susukino Tokyu Miyamae Akabane Hiroshima Sannomiya 24Plus Sumiyoshi Sayama 24Plus

and cater tocustomer needswithavariety ofprograms ranging , TOKYU SPORTS OASIS aimstobe TOKYU E-LIFE DESIGN Inc. DESIGN E-LIFE TOKYU Senior HousingManagement Hotel Management the topcompany Consignment Urban Style life ofeachindividual customerandcan berelied oninapinch. workers andtheirfamilies, aswell asbusinessenterprisesandlocal communities. Thus, weserve asanentitythatenrichesthe We work tobuilda Enhancing the Tokyu Stay Sapporo Kanazawa, Osaka, Takayama, andHakodate. Tenjin. Inaddition, atotaloffive otherfacilitiesare plannedtoopeninNaha, the first facilityoutside Tokyo, in2017. In2019, weopened Tokyu Stay Fukuoka who stayforonenightoralongtime. kitchenettes, undertheconceptof is convenient for consecutive orextended stays, suchaswasher-dryer and Tokyu Stay provides all thecomforts ofhome. We provide equipmentthat List of Tokyu Stay Hotels(24existing hotelsand5plannedtobenewly opened) A hotelspacethatisahomeaway from home (tentative name) Tokyu Stay Hakodate (tentative name) TokyuStay Takayama (tentative name) Tokyu Stay Osaka Honmachi (tentative name) Tokyu Stay Kanazawa (tentative name) Tokyu Stay Naha Hotels tobenewly opened Welfare Hotels

consulting tosystem building andoperation. realizing a healthy, rich corporate society and local community. We provide one-stop services ranging from Through EWEL, weprovide welfare andhealthsupport services, thereby givingcomprehensive supportfor Consignment Welfare:EWEL Urban StyleHotels: Tokyu Stay for inbound tourists. We cordially welcomeguestsandprovide themwithhigh-qualityservices. We operate urbanstylehotels, whichcan beusedfor many purposes, ranging from businesstosightseeing, healthy society

Summer of2020 Spring of2020 Winter of2019 Winter of2019 Winter of2019 Open (planned) Engagement in front ofSengakuji Station TokyuStay by helpingtoenhanceengagement betweendiverse organizations andpeople, includingboth Opened Tokyu Stay Kyoto Ryogaemachi-Dori, a hotelspacethatiscomfortableforguests (Shibuya, Shinagawa) Tokyo Metropolis (Ikebukuro, Shinjuku) Tokyo Metropolis (Ginza, Nihonbashi) Tokyo Metropolis betweenOrganizations andPeople

Shin-Minamiguchi Tokyu Stay Shibuya Tokyu Stay Shibuya Tokyu Stay Aoyama Premier TokyuStay Tokyu Stay Ikebukuro Tokyu Stay Nishi-Shinjuku Tokyu Stay Shinjuku Tokyu Stay Suidobashi Tokyu Stay Monzen-Nakacho Tokyu Stay Nihombashi Tokyu Stay Shimbashi TokyuStay Tsukiji Tokyu Stay Ginza Tokyu Stay Kyoto Shinkyogoku-Dori

Kyushu area Kansai area Hokkaido area (Shibuya, Shinagawa) Tokyo Metropolis Tokyu Stay Ginza Tokyu Stay Hakata Tokyu Stay Fukuoka Tenjin Kyoto Ryogaemachi-Dori Tokyu Stay Kyoto Shinkyogoku-Dori Tokyu Stay Tokyu Stay Sapporo Tokyu Stay Sapporo Odori in front ofSengakuji Station TokyuStay Takanawa Tokyu Stay Gotanda Tokyu Stay Kamata TokyuStay Yoga Tokyu Stay Meguro-Yutenji

42

OVERSEAS BUSINESSES WELLNESS RESIDENTIAL URBAN DEVELOPMENT 43 importance to contributiontolocal communities andenvironmental considerations. estate investments, andotherprojects inresponse tolocal needswhilealso attaching the UnitedStates, andSingapore, where wepromote real estatedevelopment, real and atrack record inthecountry. We have alsoestablished local subsidiariesinChina, had developed inJapan. With theseandotherinitiatives, weare steadily buildingtrust houses. We established alocal subsidiaryin2012 andexpanded BRANZ, abrand thatwe first foray intoIndonesia, where we have supplieda cumulative total of4,500 detached development inGuam, andbeganasurvey ofhotelsitesinPalau. In1975, wemade our Our Overseas Businesses started in 1973, when we first launched residential Expanding thereal estatebusinesstotheworld BUSINESSES OVERSEAS Indonesia The United Singapore Palau China States Location: New York City, New York Sitearea: Approx. 2,600m the U.S. Green BuildingCouncil. a building issettoobtainGoldlevel certificationrating system underLeadership(LEED), administered inEnergy andEnvironmentalby Design buildings, wetookthe environmental impactintoconsideration when the specifications andequipmentofthebuildingwere designed. The Architecture Prize. Ahigh-grade officespacethat isappropriate for thelocation is being created. In responseto growing demand for green this isthefirst development newofficein50 years. The projecthasadoptedadesign by architectNorman Foster, winnerofthePritzker class business districts in the world. The planning zone faces Park Avenue, a premier avenue in the Plaza District. Because of strict regulations, A project for developing amulti-purposebuildingisunderway inthePlazaDistrictofManhattan, New York, renowned asoneofthehighest- The first development project on Park Avenue in 50 years 425 Park Avenue The United States

specific projects asaninvestor. aggressively acquiring and developing offices andapartments, as well as by participatingin in LosAngeles, New York, Houston, andothercities. We have expanded ourbusinessby subsidiary. Working through thissubsidiary, wehave beenpromoting real estateinvestment than otherdeveloped countries. In2012, weestablished Tokyu LandUSCorporation, ourlocal The UnitedStatesboasts vast territory and apopulation that hasbeenrisingatahigherrate 2 Floors: B2F-47FUse:Offices andshopsCompletion:FY2019(planned) Rendering Rendering Rendering Rendering 44

OVERSEAS BUSINESSES WELLNESS RESIDENTIAL URBAN DEVELOPMENT 45 Completion: 2018(1stterm) Use: Condominiums Total number ofunits:Approx. 3,000(planned)with1,256(1stterm) Location: BumiSerpongDamaiDistrictSitearea: Approx. 53,000m BRANZ BSD Commencement of work:FY2019(planned) Use: Residences for sale, rental residences, commercial facilities Location: SouthJakarta, Jakarta SpecialRegion Sitearea: Approx. 11,000m construction technologiesandcuttingedgetechniquesfrom Japan. lifestyle toconsumers inrapidly growing Jakarta withstate-of-the-art first timeinIndonesiainvolving rental residences. We propose anew launched thislarge-scale mixed-use development project for the Overseas Infrastructure Investment Corporation (JOIN), theGroup facilities. In collaboration with the government-supported Japan involving residences for sale, rental residences, andcommercial we are engagedinalarge-scale mixed-use development project of Jakarta (CBD), where majorredevelopment projects are underway, In an area encompassing approximately 10,000m Proposing anewlifestylewithJapanesetechnology Mega KuninganProject Indonesia the first Japanesedeveloper to expand itsownbrand overseas. In thecondominiumbusiness, webegandelivery oftwoBRANZproperties in2018, becoming company toberanked amongthe Top Ten Developers inIndonesiaselectedby BCIAsiain2017. Land Indonesiahasearnedhighmarks, forexample by becomingthefirst foreign-affiliated estate businesswhiletakingadvantage ofourexpertise developed inthecountry. PT. Tokyu In 2012, weestablishedPT. Tokyu LandIndonesia, alocal subsidiary, toexpand oururbanreal Indonesia isseeingtheexpansion ofitsaffluentpopulationdueto dramatic economic growth. 2 located in the center located in the center 2 2 Rendering BRANZ Simatupang Completion: 2018 Use: Condominiums Total numberofunits:381 Location: SouthJakarta, Jakarta SpecialRegion Sitearea: Approx.15,000 m Commencement of work:FY2019(planned) Use: Condominiums Location: West Jakarta, Jakarta SpecialRegion Sitearea: Approx. 11,000m demand from the country’saffluentpopulation. We will provide high-qualityJapanese-stylecondominiumstomeet international airport. Ithassignificant potential for future growth. site isclosetotheouterringhighway exit witheasyaccesstothe subsidiary inIndonesiaandotherlocal partners. The construction scale condominiums in collaboration with ’s detached houses. Inthisarea, wetake active stepstobuildlarge- of central Jakarta, housingprojects are underway withafocus on In thePuriBotanical Area, located around 10kilometers southwest Providing highqualitycondominiumsinJapanesestyle Puri Botanical Project 2 2 Rendering Business bases the Group companieshave beenworkingtogethertofurtherenhancethepresence oftheGroup inouroverseas markets. Tokyu Fudosan HoldingsGroup Companiesundertake awiderange ofinitiatives inothercountries. To create more value, The UnitedStates Asia 10 11 0 5 0 0 8 6 0 0 9 7 0 Overseas BusinessExpansionofthe Tokyu Fudosan HoldingsGroup 2 13 0 0 1 3 0 12 4 culture for customers through newoutletsinSingapore. The company appliestheexpertise ithasdeveloped inJapancreating alifestyle United Statesoperate abusinessselling real estateinthecountrytoinvestors inJapan. affluent population relatedto realestate investment inJapan. Itslocal subsidiariesinthe The company hasestablisheditsbasesinAsia, where itcaters totheneedsoflocal Delivering high-qualitymanagementservicesharmonizingJapaneseandlocal styles. Advanced intooverseas markets, startingwiththeIndonesianmarket. and theUnitedStates, andfacilityoperation inChinaandPalau. housing development inIndonesia, investment inassetsSoutheastAsiancountries The company operates businessesacross adiverse range ofdomains, including States The United Indonesia Singapore Palau Taiwan China TOKYU LIVABLE, INC. TOKYU LANDCORPORATION Dallas New York Los Angeles Jakarta Hong Kong Shanghai

13 12 11 10 09 08 07 06 05 04 03 02 01

Tokyu Livable Texas Investment Advisors, LLC redevelopment project Participated inthe425Park Avenue Tokyu Livable US, Inc. Tokyu LandUSCorporation PT. Tokyu Property ManagementIndonesia PT. Tokyu LandIndonesia TOKYU HANDSJewelStore TOKYU HANDSSuntecCityStore TOKYU HANDSOrchard Store TOKYU HANDSJurong EastStore TOKYU HANDSSINGAPORE PTE. LTD. Investment inOrangeTee HoldingsPteLtd. Tokyu LandAsiaPte. Ltd. Pacific IslandsDevelopment Corporation TOKYU LIVABLE (TAIWAN), INC. Tokyu Livable HongKong Branch TOKYU LANDCORPORATION (SHANGHAI)LTD. TOKYU HANDSINC. TOKYU COMMUNITY CORP.

46

OVERSEAS BUSINESSES WELLNESS RESIDENTIAL URBAN DEVELOPMENT REAL ESTATE SOLUTIONS Major Affiliates As a comprehensive real estate company, TOKYU LAND CORPORATION operates a broad range of businesses related to the living We operates a solution business that builds upon the expertise of our established real estate businesses. In an environment. The company responds to customer needs through a network of Group companies that are active across diverse business, such as custom home building, renovation, landscape gardening, fitness club operation, employee benefit outsourcing effort to pursue optimal solutions in the utilization and management of real estate, we seek to enhance the value services, investment management, and resort facility operation. of our customers’ assets through a range of real estate strategies that are essential to corporate management, including a corporate real estate (CRE) service, real estate appraisal, and the preparation of J-REIT data. Tokyu Homes Corporation TOKYU SPORTS OASIS Inc. ISHIKATSU EXTERIOR INC. Established: 1991 Established: 1985 Established: 1972

This company makes proposals tailored to This company operates membership fitness The company develops symbiotic facilities each customer by taking advantage of its clubs mainly in the Tokyo Metropolitan Area for urban shopping malls, residential houses, skills and construction capability cultivated and Kansai Area. parks, resorts, golf courses and others, CRE consulting services through a wealth of experience, from boasting a total engineering system that design to construction of rental housing, integrates artisan techniques with planning buildings, stores, and other properties. and design capabilities. We provide consulting services geared towards the optimal asset structure of corporate real estate (such as head office buildings, sales and production bases, welfare facilities, and idle land plots). Real estate held by companies is classified from the managerial and financial perspective to enhance their value, improve property management, reduce real estate management cost, and implement other measures. We provide one-stop solutions to create new corporate value, drawing upon the real estate expertise in EWEL, Inc. TLC REIT Management Inc. Tokyu Land Capital Management Inc. Established: 2000 Established: 2009 Established: 2007 real estate business that we have developed over the years and the comprehensive capabilities of Tokyu Fudosan Holdings Group. (Former TLC Comforia Investment Management Inc.) The company establishes and manages core real The company provides a wide range of The company was founded in April 2017 estate funds and other privately placed funds solutions including consulting, system in order to manage three REITs within the featuring diverse asset management strategies construction and individual services in Tokyu Fudosan Holdings Group. Under in response to the needs of institutional investors Optimization of response to diverse corporate needs the new organizational structure, it seeks and pension fund managers while taking active owned real estate Proposals of CRE strategies by associated with fringe benefits and health to achieve the further enhancement of steps to invest in new opportunities with the properties TOKYU LAND CORPORATION programs for employees. investment performance. infrastructure business and others. Creating new Strategic Effective purchases corporate value utilization of and sales of real estate TOKYU LAND SC MANAGEMENT Tokyu Stay Co., Ltd. Tokyu Resort Service Co., Ltd. real estate CORPORATION Established: 1985 Established: 1979 Established: 2009

This company operates extended-stay This company engages in operation, hotels mainly in the Tokyo area. It responds This company is a general resort management, planning, and consulting to customer needs by providing services, management company that manages resort related to commercial facilities. based on the concept of hotel space that is facilities. It offers resort entertainment Real estate appraisal comfortable for guests, whether for overnight proposals and creates opportunities for or a long night. inspiring and exciting experiences. The rise in foreign investment in Japanese real estate has made it necessary to introduce global real estate appraisal standards within the Japanese market. We have been involved in real Tokyu Resort Corporation TOKYU E-LIFE DESIGN Inc. PT. Tokyu Land Indonesia estate appraisal for over 50 years, ever we were registered as a Established: 1978 Established: 2003 Established: 2012 real estate appraiser in 1965. Taking advantage of the expertise we have acquired over the years, our real estate appraisers The company offers customers worldwide Remaining true to its business mission This company runs an urban real estate conduct consultations in a fair manner is rooted in a global with the best sales and brokerage services for statement of My Own Style, for All Time business that covers residential real estate resort villas and condominiums in major resort the company provides senior housing and sales, the leasing of owned property, perspective. areas nationwide including Tokyu Harvest offers care residences with nursing care and the management and operation of Club membership, as well as overseas resort support so that residents can have a safe, properties in Indonesia. properties in Hawaii and other areas. comfortable life in their senior years. J-REIT database system

TOREIT is the online database containing all properties owned Tokyu Land US Corporation TOKYU LAND CORPORATION Tokyu Land Asia Pte. Ltd. Established: 2012 (SHANGHAI) LTD. Established: 2018 by investment corporations listed on J-REIT. The system reflects Established: 2007 the views of developers and real estate appraisal, earning it high marks from various quarters as a user-friendly system. It has This company runs businesses in the United The company runs a real estate investment Based in Singapore, this company operates been well-received by predominantly financial institutions, think States, including real estate development business in China. It is steadily expanding in businesses in Southeast Asia and South and lease management businesses, focused this enormous market by applying the real Asia, which are expected to grow in the tanks, real estate companies, and appraisers. on real estate investment. estate experience and expertise TLC has future, taking advantage of the expertise of developed in Japan. Group companies.

47 48 Holdings Structure

Tokyu Fudosan Holdings Group consists of Tokyu Fudosan Holdings Corporation, a holding company that was established in October 2013, six core operating companies (TOKYU LAND CORPORATION, TOKYU COMMUNITY CORP., TOKYU LIVABLE, INC., GROUP SLOGAN TOKYU HANDS INC., Tokyu Housing Lease Corporation, and NATIONAL STUDENTS INFORMATION CENTER CO., LTD.), and other consolidated subsidiaries. About 30,000 employees from more than 100 Group companies work to create value in the Group.

Tokyu Fudosan Holdings Corporation

TOKYU LAND TOKYU COMMUNITY Tokyu Housing Lease NATIONAL STUDENTS TOKYU LIVABLE, INC. TOKYU HANDS INC. INFORMATION CENTER CORPORATION CORP. Corporation CO., LTD.

Tokyu Homes Corporation COMMUNITY ONE CO., LTD. Tokyu Livable Staff HANDS LAB INC. Tokyu Corporate Housing Nasic I support Co., Ltd. Corporation Management Inc. TOKYU SPORTS OASIS Inc. MARIMO COMMUNITY TOKYU HANDS SINGAPORE SIGMA JAPAN CO., LTD. CO., LTD Livable Asset Management PTE. LTD. Residential Partners K.K. ISHIKATSU EXTERIOR INC. HOKUWA CONSTRUCTION, GROUP PHILOSOPHY Inc. TOKYU BLDG. INC EWEL, Inc. MAINTENANCE TOKYU LIVABLE (TAIWAN), TLC REIT Management Inc. INC. SHONAN COMMUNITY Tokyu Land Capital Tokyu Livable US, Inc. We hold this philosophy in common as we work together DAI-ICHI Building Service Inc. Management Inc. Tokyu Livable Texas YOGA DISTRICT HEATING to create and support Tokyu Group. TOKYU LAND SC Investment Advisors, LLC AND COOLING CO., LTD. MANAGEMENT CORPORATION TC FORUM CORP. Tokyu Stay Co., Ltd. INFIELD INC. Tokyu Resort Service Mission Statement: We will create a beautiful living environment, where each person can pursue Co., Ltd. SHINDAI-BYOIN PARKING SERVICE individual happiness in a harmonious society. Tokyu Resort Corporation Tokyu Re design Corporation TOKYU E-LIFE DESIGN Inc. ･ PT. Tokyu Property Management Policy: Work independently and in collaboration to raise Tokyu Group synergy and Pacific Islands Management Indonesia Development Corporation establish a trusted and beloved brand. PT. Tokyu Land Indonesia • Meet current market expectations and develop new ones. Tokyu Land US Corporation • Manage in harmony with the natural environment. TOKYU LAND CORPORATION (SHANGHAI) LTD. • Pursue innovative management from a global perspective. Tokyu Land Asia Pte. Ltd. • Value individuality and encourage the best from each employee. and others Through these means, we will fulfill our corporate social responsibilities.

Segment Guidelines for Action: Fulfill your responsibilities. Collaborate to enhance each other’s abilities. Urban Development Property Management Real Estate Agents Tokyu Hands Urban Development Urban Development Reinvent yourself with a global awareness.

Residential Urban Development Urban Development

Wellness

Innovation Business As of April 1, 2019

COVER DESIGN The cover illustration of this report expresses the diverse business domains of TOKYU LAND CORPORATION as a creator of cities and lifestyles.

COMPANY INFORMATION BRANZ The House 425 Park Avenue Tokyu Plaza Ginza Ichibancho

Tokyu Den-en-toshiShibuya Line Sta. Shibuya Redevelopment Hibiya Parkfront Trade Name TOKYU LAND CORPORATION East ne Japanese name a Li Exit ( 東急不動産株式会社) shir West oka o In Shibuya Mark City Exit Headquarters SHIBUYA SOLASTA, 1-21-1 Kei

Dogenzaka, Shibuya-ku, Tokyo J R 246 Y a m Established December 17, 1953 a n o te Capital ¥57,551,699,228 (as of April 1, 2019) Headquarters Cerulean Tower L in e Overseas Urban Style Resorts Fitness Senior Life Development in Tokyo Commercial Oces Residential Employees 762 (as of April 1, 2019) Businesses Hotels Facilities Access 6-minute walk from Shibuya Station on JR Line, Website Fukutoshin Line, Hanzomon Line, Ginza Line, Tokyu Toyoko Line, Corporate Website Tokyu Den-en-toshi Line, Keio Inokashira Line Edited and published by: Public Relations Office, Corporate Communication Department, TOKYU LAND CORPORATION

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