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The company was founded as Izumi Real Estate Co., Ltd. in 1949 following the dissolution of the Sumitomo conglomerate. It adopted its current name in 1957. [3] From the early 1960s, Sumitomo was active in developing and selling condominium properties. [4] Sumitomo Realty held its initial public offering on the Tokyo and Osaka stock exchanges in ...
In 1944, the company merged with Sumitomo Building Co., Ltd. (established August 1923; capital stock 6.5 million yen) to form Sumitomo Building and Real Estate Co., Ltd. [8] Sumitomo was integral to Imperial Japan's war machine during World War II , but the war destroyed most of Sumitomo's industrial infrastructure within Japan.
The Sumitomo Group traces its roots to a bookshop in Kyoto founded circa 1615 by Masatomo Sumitomo, a former Buddhist monk. [1] Even today, management of the group is guided by his "Founder's Precepts", written in the 17th century.
In 1948, the Sumitomo zaibatsu was effectively liquidated and the forestry business was spun off into a separate entity. Sumitomo Forestry itself was formed in 1955 by merging Toho Norin Co., Ltd. and Shikoku Ringyo Co., Ltd. In 1964, the company started building real estate from timber. In 1970, a subsidiary, P.T., was established in Indonesia.
The Shinjuku NS Building (新宿NSビル, Shinjuku Enu Esu Biru) is a skyscraper located in Shinjuku, Tokyo, Japan.The name comes from co-developers, Nihon Seimei and Sumitomo.
[107] [110] In June 1987, a subsidiary of Japanese realty and development company Sumitomo Realty & Development purchased 666 Fifth Avenue and its underlying land from Integrated for $500 million. [ 111 ] [ 112 ] At the time, it was believed to be the second most expensive office-building sale in Manhattan history, behind that of 1251 Avenue of ...
A group accused of a real estate fraud scheme conspired to steal at least 10 homeowners’ identities and sold their properties “out from under them” without permission, federal officials said.
The Sumitomo Fudosan Roppongi Grand Tower (住友不動産六本木グランドタワー) is a 231 m (roughly 758 ft) commercial skyscraper located in Roppongi, Minato ward, Tokyo. [ 1 ] [ 2 ] The 40-story tower is a result of the Roppongi 3-chome East Side Project ( 六本木三丁目東地区プロジェクト , Roppongi san-chome higashi ...