On the 29th, Meito Enterprise <8927> announced that it has acquired land for development in Ebisu, Shibuya-ku, Tokyo.
The property is located a 9-minute walk from JR Yamanote Line and Saikyo Line Ebisu Station, with a site area of 162.24 square meters (public book). It is planned to be offered under the company's rental apartment development brand, "ELFARO (El Faro)" series, as "(tentative) Elfaro Ebisu". The company received new financing (98% of the acquisition price) from Kinki Industry Credit Union when acquiring the property. The purchase price is less than 30% of the consolidated net assets at the end of the company's fiscal year ending July 2023. There is no capital, personnel, or transactional relationship that should be disclosed between the company and the seller.