About Land Development Corporation

The Yokohama Land Development Corporation (hereinafter referred to as the “Public Corporation”) was established by Yokohama City based on the “Law Concerning the Promotion of Expansion of Public Land”, and has been required for business based on the request for acquisition of Motoichi. We acquired land ahead of time on behalf of Motoichi and contributed to town planning.
On the other hand, with the progress of town planning, "the necessity of requesting the public corporation to acquire new land has been reduced" and "In a severe financial situation, the progress of commercialization has been delayed, and the borrowing related to land acquisition It is necessary to hurry the purchase of land acquired so far, as the interest burden is increasing. "
For this reason, as part of fiscal consolidation, from the viewpoint of reducing the future financial burden, in the Yokohama City Medium-Term Four-Year Plan, the third sector reform promotion bonds (commonly known as "three-segment bonds") were used in 2013. We decided to dissolve Kommuninvest in fiscal year.
At the City Counsil (the first regular meeting in 2013), a proposal for dissolution of Kommuninvest was approved in accordance with the Act on Promotion of Expansion of Public Land, and after the issuance of three-sector bonds and the approval of the government during FY2013, the Land Development Corporation was dissolved on March 31, 2014.
After that, the liquidation corporation was transferred to a liquidation corporation and the liquidation procedure (publication and determination of receivables and payables, etc.), the liquidation was completed on June 30, 2014, and the remaining assets (basic assets invested by Motoichi 30 million yen) belonged to the investor, Motoichi.
On July 10, 2014, a notification of completion of liquidation was submitted to the government, and all liquidation procedures have been completed.