Mitsui Fudosan Launches “&CRUISE” Water Transportation Project with Fully Electric Passenger Vessels
Mitsui Fudosan Co., Ltd. has launched a new water transportation initiative branded “&CRUISE.” The company will build and own two fully electric passenger vessels, the Nihonbashi e-LINER, and plans to commence scheduled service between Nihonbashi and Toyosu in April 2026. This marks the first time in Japan that a private company will operate a regular route using fully electric vessels. The initiative represents a new model of urban development, in which a real estate developer directly invests in and operates mobility infrastructure to enhance the value of its development areas.
Mitsui Fudosan’s decision to act as vessel owner is closely tied to the fact that the three areas connected by the water route—Nihonbashi, Toyosu, and Tsukiji—are all core development districts for the company. In Nihonbashi, Mitsui Fudosan has been promoting the “Nihonbashi Revitalization Plan” since 2004 at its birthplace, with five redevelopment zones totaling approximately 11 hectares currently underway. In March 2026, the Nihonbashi 1-Chome Central District redevelopment is scheduled for completion. The project will feature a 52-story tower with a Gross Floor Area of approximately 110,000 tsubo (approx. 3.9 million sq. ft.), and is expected to welcome major headquarters relocations, including Daiichi Sankyo Company, Limited and Nomura Securities Co., Ltd. (see related article: Daiichi Sankyo to Relocate Headquarters to Nihonbashi Redevelopment C District Led by Mitsui Fudosan).
In Toyosu, Mitsui Fudosan opened LaLaport Toyosu in 2006, followed by the completion of the station-connected Toyosu Bayside Cross in 2020. These assets have been highly regarded by investors, with Nippon Building Fund Inc. continuing to acquire additional interests in the area (see related article: Nippon Building Fund Acquires Two Properties in Nihonbashi and Toyosu for Approx. JPY 47.0 billion). In addition, Mitsui Fudosan was selected in 2024 as the representative developer for the redevelopment of the former Tsukiji Market site, a large-scale project spanning approximately 19 hectares. By improving connectivity among its own development districts, the company aims to maximize overall real estate value.
The vessels measure 17 meters in length and are fully electric passenger ships powered by lithium-ion secondary batteries, with a capacity of 62 people including two crew members. Each vessel is equipped with batteries totaling approximately 300 kWh, enabling zero CO₂ emissions during operation and effectively achieving zero-emission navigation. Since October 2023, the Tokyo Metropolitan Government has conducted a demonstration project titled “TRY! Funatabi Commuting” on the Toyosu–Nihonbashi route, which is scheduled to conclude at the end of March 2026. Mitsui Fudosan has participated in the program as a partner company and will carry forward the initiative as a private-sector business, leveraging operational insights gained through the demonstration.
Key Facts
Vessel Name: Nihonbashi e-LINER
Vessel Owner: Mitsui Fudosan Co., Ltd.
Operator: Kanko Kisen Kogyo Co., Ltd.
Length: 17 m
Gross Tonnage: Approx. 17 t
Passenger Capacity: 62 (including 2 crew members)
Propulsion System: Permanent magnet water-cooled electric motors (90 kW × 2 units)
Battery: Lithium-ion secondary batteries (lithium titanate type), 240 units / 298.08 kWh
Route: Nihonbashi–Toyosu (scheduled service to commence in April 2026)
Design & Construction: Taiyo Electric Co., Ltd.