KDDI Announces Acquisition of Real-estate Trust Beneficiary Rights

KDDI Corporation

October 22, 2008

KDDI announces that at the board of directors meeting held today, a resolution was passed to purchase trust beneficiary rights from Central Tower Estate Co. at the end of October 2008. The trust beneficiary rights were set and transferred through the securitization of real estate conducted in September 2001.

Details are provided below.

1. Objective of the acquisition of the trust beneficiary rights

At the present time, KDDI is using floors in the Shinjuku building, Otemachi building, Nagoya building, and Osaka building, which were securitized, as office space or space for communication equipment. The trust rights will be purchased since KDDI plans to continue to use the floors mainly for data center operations and city network hubs and considers these important facilities.

2. Summary of securitized real esetate

Property Location Site area (m²) Total floor space (m²) Number of floors
Shinjuku Building Shinjuku-ku, Tokyo 10,675.51 127,586.15 35 above-ground floors and 5 underground floors
Otemachi Building Chiyoda-ku, Tokyo 3,782.99 43,479.94 23 above-ground floors and 4 underground floors
Nagoya Building Naka-ku, Nagoya-shi, Aichi 1,592.49 5,126.14 7 above-ground floors and 2 underground floors
Osaka Building Chuo-ku, Osaka-shi, Osaka 13,223.15 35,605.04 12 above-ground floors and 2 underground floors

3. Acquisition price of trust beneficiary rights

Around 206.8 billion yen (expected)

4. Expected timing of acquisition of trust beneficiary rights

October 31, 2008

5. Outline of the real estate securitization conducted in 2001

(1) The properties were put into trust with a trust bank and the corresponding trust beneficiary rights were transferred to the special purpose company Central Tower Estate Co.

(2) KDDI will conclude a 7-year lease agreement at the same time as it purchases the beneficiary rights.

  • * The information contained in the news releases is current at the time of publication.
    Products, service fees, service content and specifications, contact information, and other details are subject to change without notice.

Return to top