Chugoku Electric Power to Sell Two Company Housing Assets in Yamaguchi via Open Bid
The Chugoku Electric Power Company, Incorporated (Chugoku Electric Power) will dispose of two company housing and dormitory assets in Shimonoseki and Yanai, Yamaguchi Prefecture, through an open-bid process on November 13, 2025. Mitsui Fudosan Realty Chugoku Co., Ltd., a member of the Mitsui Fudosan Realty Group, will act as the sales agent for the bidding process.
The offering comprises two properties: Nakarokubamachi Apartment in Chofu Nakarokubamachi, Shimonoseki City, with a site area of approximately 1,691 tsubo and a four-story reinforced-concrete multifamily building (gross floor area of approximately 563 tsubo), plus a storage building; and Kotoishi Dormitory in Yanai, Yanai City, with a site area of approximately 1,039 tsubo and a three-story reinforced-concrete dormitory building (gross floor area of approximately 408 tsubo).
The Chugoku Electric Power Group generates annual revenue of around JPY 1,500 billion (fiscal year 2024). Within the group, Energia L&B Partners Co., Inc. develops a real estate solutions business platform. That platform generates approximately JPY 10.6 billion in annual revenue with a headcount of about 260 employees, providing services such as property sales and leasing, property management and corporate housing outsourcing. The group appears to be pursuing more efficient use of its real estate holdings, and this disposal is viewed as part of a broader push to improve capital efficiency and shift toward a more asset-light balance sheet.
Following the Tokyo Stock Exchange’s March 2023 call for listed companies to improve capital efficiency, more corporates have begun reassessing their owned real estate portfolios with the goal of strengthening their financial position. The sale of company housing and dormitories can be seen as one aspect of efforts to streamline operations and adapt to changing work styles while enhancing asset efficiency, and strategic disposals of corporate real estate (CRE) by operating companies are expected to continue for the time being.
Key Facts
Property Name: Nakarokubamachi Apartment
Location: Chofu Nakarokubamachi, Shimonoseki City, Yamaguchi Prefecture
Nearest Station: Chofu Station, JR Sanyo Main Line
Site Area: approx. 1,691 tsubo (approx. 60,200 sq. ft.)
Gross Floor Area: approx. 563 tsubo (approx. 20,000 sq. ft.)
Structure / Number of Floors: Reinforced concrete, Number of Floors: 4F
Property Name: Kotoishi Dormitory
Location: Yanai, Yanai City, Yamaguchi Prefecture
Nearest Station: Yanai Station, JR Sanyo Main Line
Site Area: approx. 1,039 tsubo (approx. 37,000 sq. ft.)
Gross Floor Area: approx. 408 tsubo (approx. 14,500 sq. ft.)
Structure / Number of Floors: Reinforced concrete, Number of Floors: 3F