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Mitsubishi Estate proposes organizational amendments

Mitsubishi Estate Co. Ltd. is making various changes to its organizational chart by proposing amendments to the responsibilities of some of its executives and directors and pushing for the establishment of new business groups.

In a filing, the Japanese company said Executive Vice President Naoto Aiba and director Jo Kato will be rid of their responsibilities as representative corporate executive officers, effective March 31.

On the other hand, Futoshi Chiba, Keiji Takano, Atsushi Nakajima and Yuji Fujioka will all start April 1 in their new roles as senior executive officers, in charge of their respective departments within the company. On the same date, Yutaro Yotsuzuka, Naoki Umeda and Ryozo Kawabata will become group executive officers and head the Japanese-listed developer's certain units.

Meanwhile, directors Yutaka Yanagisawa and Isao Matsuhashi will be leaving their posts, effective June 30, with the board proposing to appoint Tetsuji Arimori and Tetsuo Narikawa as directors, effective on the same date.

Aside from personnel changes, the company also said it intends to establish an Office Building Group, which will include a cross-tech leasing and promotion department, as well as a Hotel & Airport Business Group that will comprise the business creation, hotel business and airport business departments.

Shareholders of the company will vote on the proposed changes during an ordinary general meeting that will be convened in June.