Sumitomo : Phase I early reopening of MOMO Terrace scheduled for mid-February 2015
December 04, 2014 at 12:56 am EST
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Sumitomo Corporation (president and CEO: Kuniharu Nakamura, head office: Chuo-ku, Tokyo) and Sumisho Urban Kaihatsu Co., Ltd. (president and CEO: Masaaki Kokubo, head office: Chuo-ku, Tokyo) have been engaged in large-scale renovation efforts to transform MOMO, the predominant commercial facility in Kyoto's Fushimi Ward recently acquired by Sumitomo Corporation, into a facility even more appealing to locals as the "MOMO Terrace" large-scale regional shopping center and reopen it in early summer 2015.
In a preliminary Phase I reopening of this renovated facility, 12 shops will be opened for business in mid-February 2015.
Decisions have also been made on MOMO Terrace's seven core stores (including two involved in the early reopening) and the logo mark reflecting the facility's concept, and further information on these are provided herein.
MOMO Terrace is a revitalization project that makes maximum use of the know-how cultivated by Sumitomo Corporation and Sumisho Urban Kaihatsu (hereinafter collectively referred to as the "Sumitomo Corporation Group") in the course of developing and operating station-front commercial facilities and large-scale regional shopping centers such as "Terrace Mall Shonan." Retaining the name of MOMO that has won the hearts of people living and working in the community, the Sumitomo Corporation Group has added a new "terrace concept" (*see reference) to develop the MOMO Terrace into the area's indisputably number-one commercial facility and invigorate the entire community.
With the facility still in operation, the Group will carry out renovation in two phases concluding in February 2015 and early summer 2015. Information about the shops that will be opened and detailed information on facility plans will be announced as it becomes available in future.
Sumitomo Corporation is a diversified group organized around 7 areas of activity:
- retail distribution of consumer goods (24.4% of net sales): food products, apparel and accessories, pharmaceuticals, building materials, household and decorative items, etc. The group is also developing a real estate business;
- trading of hydrocarbon, mining, chemicals and electronics products (24%): oil, natural gas, copper, gold, silver, zinc, lead, nickel, coal, iron ore, resins, pesticides, petrochemical products, etc.;
- trading of steel products and non ferrous metals (20%): flat and long steel products, tubular products, aluminum products, titanium, etc.;
- distribution of transportation and construction systems and equipments (15.1%): spatial equipments, landing fields, forest machines, motorcycles, mining operating vehicles, etc.;
- telecommunications and multimedia products and services supplies (8.8%): TV wiring, data communication solutions, film distribution services, mobile telephony, Internet access and computing services;
- development and implementation of civil engineering infrastructures (7.6%): power plants, wastewater treatment units, industrial plants, telecommunications centers, etc. The group is also providing logistics services;
- other (0.1%).
SUMITOMO CORPORATION 
