Iitate Village, Local Development Council and Tokyu Land Sign Regional Partnership Agreement

Iitate Village in Soma District, Fukushima Prefecture, the Iitate Village Comprehensive Development Plan Promotion Council, and Tokyu Land Corporation announced that they signed a regional partnership agreement on May 12, 2026, to use their respective resources and strengths to address local challenges. The agreement aims to promote regional revitalization, community development, and the sustainable development of the local community through mutual cooperation among the three parties, while contributing to solutions for regional issues. Iitate Village declared “Zero Carbon Iitate” in March 2022, with the goal of achieving net-zero greenhouse gas emissions by fiscal 2050. Tokyu Land has developed renewable energy businesses across Japan and has entered into agreements with municipalities such as Matsumae Town and Ishikari City in Hokkaido to cooperate on community development using renewable energy. Against this backdrop, the three parties decided to conclude the agreement so that renewable energy projects being considered by Tokyu Land in Iitate Village will contribute to improving residents’ welfare. Going forward, the three parties will promote initiatives that contribute to regional revitalization in various ways, including fostering local industries in Iitate Village, raising awareness of local products, and revitalizing local communities. They will also work to enhance the appeal of Iitate Village through multifaceted approaches such as developing next-generation talent in collaboration with educational institutions and companies inside and outside the village, and increasing the exchange population through tourism promotion. The areas of cooperation include renewable energy projects based on the “Zero Carbon Iitate Declaration” that contribute to residents’ welfare; promotion of local industries and recognition of local products; use of regional resources; revitalization of local communities; collaboration with educational institutions and companies inside and outside the village, including next-generation talent development; tourism promotion and expansion of the exchange population; and other matters deemed necessary by Iitate Village, the council, and Tokyu Land. Tokyu Land Corporation was established on December 17, 1953, is headquartered in Shibuya, Tokyo, and has capital of 57.552 billion yen. Its businesses include urban development, residential, wellness, industry co-creation, environmental energy, and overseas operations. Tokyu Land operates renewable energy projects under the “ReENE” business brand. As of the end of March 2026, it had 153 renewable energy projects across Japan, including projects under development, with a rated capacity of 2,072 MW. In cooperation with ReENE Co., Ltd., a wholly owned subsidiary of Tokyu Land, and ReENE Energy Co., Ltd., a wholly owned subsidiary of Tokyu Fudosan Holdings, the group promotes integrated operations from development, asset management, and operation and maintenance of renewable power plants and storage facilities to power supply and aggregation. Tokyu Land aims to respond quickly and strategically to changes in the renewable energy market, further expand its presence in the industry, and establish the business as a new revenue pillar alongside the real estate business of the Tokyu Fudosan Holdings Group.