CBRE Completes Post-Integration Relocation Project for Idemitsu Kosan

CBRE (Japan Headquarters: Marunouchi, Chiyoda-ku, Tokyo) provided brokerage and project management support for the relocation of Idemitsu Kosan's headquarters following its business integration with Showa Shell Sekiyu K.K.

In July 2018, CBRE received a request from Idemitsu Kosan to provide support for the consolidation and relocation of its head office, and in August 2018, CBRE was commissioned to provide exclusive brokerage services for the lease contract. In November 2018, CBRE was also commissioned to provide project management support. As a result of this project, the headquarter functions of Idemitsu Kosan and Showa Shell Sekiyu, which had been dispersed across four locations in Tokyo, were consolidated and relocated to Otemachi One Tower, a building completed in February 2020 with 31 floors above ground and five floors below ground. Idemitsu Kosan's new headquarters take up 6 floors of the state-of-the-art office building, totaling approximately 6,000 tsubo.

Despite the various restrictions and challenges caused by the pandemic, CBRE successfully executed the project by managing the development of the new headquarters, including property selection and strict oversight of costs, schedule, and quality.

Akihiko Adachi (Deputy General Manager, General Affairs Department, Idemitsu Kosan), who oversaw this project, said, "The new office focuses on implementing a new way of working. As a comprehensive energy company, we are required to respond quickly and flexibly to the rapidly changing business environment. We decided to introduce ABW (Activity Based Working) in our new headquarters, not only to create a workplace that fosters a new corporate culture, but also to increase the productivity, job satisfaction, and creativity of each and every employee, and realize a work style that creates new value. Rather than specifications, the project was centered around the idea of creating a place where ‘anyone, regardless of time and location, can choose the optimal way to work based on their tasks.' Thanks to CBRE and their wealth of experience in ABW implementation, together we were able to overcome obstacles and successfully realize our vision for our new office. We are also very grateful that we were able to complete the relocation by the end of 2020 as originally planned, despite the unprecedented situation caused by the pandemic."

CBRE's Makoto Fujita (Associate Director, Advisory & Transaction | Portfolio Services) said, "In order to support the relocation of the two companies following their integration, we had to carry out the property selection process and set up the conditions for the move, all while maintaining a high level of confidentiality. After selecting the office space, we worked closely with Idemitsu Kosan's project members until the completion of the relocation. We also worked with the relevant departments within CBRE to ensure accountability not only to Idemitsu Kosan's management team, but also to their stakeholders including employees, business partners, and shareholders. Providing CBRE's fully integrated service took over three years and we are proud to have supported the decision-making process of one of Japan's leading companies, one with over 100 years of history."

Shoji Kondo (Director, Project Management, CBRE K.K.) also commented, "This project was more challenging than usual because the meeting format, procurement plan, and construction plans were affected by the originally planned 2020 Olympics, and then further exacerbated by the pandemic. The work involved a wide range of tasks, including scheduling, cost management, risk assessment, design, procurement, construction, and move management, as well as the overall supervision of the project. With the state of emergency declaration in April 2020, delays in procurement and construction emerged as a significant risk. We were able to overcome the setback by fully leveraging our accumulated skills and know-how, responding to issues in a timely and swift manner. As a result, we were able to manage a large-scale project covering approximately 6,000 tsubo and relocate approximately 2,000 employees from four old offices to one new head office, all on schedule and without a single infected person among the project team. Until COVID-19 is completely under control, we will continue to be required to be flexible, and we will use this experience to provide comprehensive support for our clients' projects and deliver great business results in any environment."

Project Outline

For inquiries about CBRE's Advisory & Transaction Services:
Makoto Fujita <[email protected]>
Associate Director, Portfolio service, CBRE K.K.

CBRE Advisory & Transaction Services | Office
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For inquiries about CBRE's Project Management:
Shoji Kondo <[email protected]>
Director, Project Management, CBRE K.K.

CBRE Project Management
CBRE Project Management provides solutions for on-time and on-budget construction, renovation, and relocation using various resourcing models and unmatched expertise in multiple facility types (office, hotels, logistics, production facilities, R&D and data centers) - with customized solutions to ensure predictable, reliable, and successful results for our clients' various occupancies. We have a vast network of partners including designers and contractors and we work in a transparent and accountable manner, ensuring the highest level of confidentiality and integrity throughout the process.

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