Mitsubishi : Iwate Hotelier Returns Local Inn to Its Former Glory

Houraikan Ltd., which runs "Horaikan", a local inn in Kamaishi City in Iwate Prefecture, Northern Japan, welcomes guests to enjoy its new hotel wing, scheduled for opening on April 25. The new facilities were made possible thanks to a 20-million yen injection from Kita-Nippon Bank, a local financial institution, and the Mitsubishi Corporation Disaster Relief Foundation (MCDRF).

A section of Houraikan was completely destroyed in the tsunami following the Great East Japan Earthquake of March 11, 2011. Even under those circumstances, Houraikan made what remained of its facilities available as an evacuation center for persons who had lost their homes in the disaster and, since then, the hotel has functioned with just a part of its original structure. With reconstruction of the new wing now complete, Houraikan is seeking to fully restore its place as a haven from which visitors can enjoy Kamaishi's celebrated Nehama Beach, known for its pristine white sands and green pine trees, and savor the rich seafood and other culinary delights abundant in the Sanriku area. In addition, Horaikan's full restoration creates 30 jobs and, once fully reopen, the hotel expects to host some 20 thousand overnight guests per year.

MCDRF's support to Houraikan is part of its aim to help boost economic revitalization and generate employment in Kamaishi, where tourism was an important part of the local economy up to the Great East Japan Earthquake and Tsunami of 2011. Over four years have passed since then, but recovery in Kamaishi and other affected areas is far from complete. MCDRF intends to continue collaborating with local financial institutions such as Kita-Nippon Bank to support efforts aimed at industry revitalization and employment creation, and overall economic recovery in areas affected by the disasters.

About Houraikan Inn

Location:20-93-18 Unozumai-cho, Kamaishi Iwate, Japan

Tel:+81 0193 28 2528

Hotel Specs:

20 guest rooms (including a choice of Japanese style and Western style rooms with outdoor bath, and a choice of mountain or ocean view); 1 banquet hall

Capacity:60 guests at full occupancy

Other details:

Complete with dining space, public bath, garden, terrace, evacuation routes, free parking space for up to 30 cars and 2 for buses)

- Construction and Structural Details

Ÿ Construction Period: May 26, 2014 - April 24, 2015

Ÿ Total construction cost: 350 million yen

Ÿ 4-storey steel structure

Ÿ Building area - 767.67 m²

Ÿ Gross floor area - 2035.36 m²

Ÿ Site area - 2379.00 m²

Other Reference Information

１．Houraikan Ltd

Location:20-93-18 Unozumai-cho, Kamaishi Iwate, Japan

Established:July 1988

Capital:10 million yen

Business Activities:Hotel business

Representative:Akiko Iwasaki, Chief Executive Officer

２．Kita-Nippon Bank, Ltd

Location:1-6-7 Chuo Dori, Morioka, Iwate, Japan

Established:February 1942

Capital:7,761 million yen

Business Activities:Banking services

Representative:Yasunori Sato, President

３．Mitsubishi Corporation Disaster Relief Foundation

Headquarters:2-3-1 Marunouchi, Chiyoda-ku, Tokyo, Japan

Founded:March 2012 (incorporated as a Foundation in May 2012)

Endowment:10 billion yen

Purpose:

To contribute to recovering in regions affected by the Great East Japan Earthquake or March 2011 through the provision of scholarships and grants for NPOs and social welfare corporations as well as for the recovery of industry and job creation.

Representatives:

Chairman, Ken Kobayashi (President and CEO, Mitsubishi Corporation)

Deputy Chairman, Yasuhito Hirota (Executive Vice President, Mitsubishi Corporation)

Executive Director,Yoshiyuki Nojima (General Manager, CSR and Environmental Affairs Department, Mitsubishi Corporation)