Nomura Real Estate Partners Launches "re:PAir8®" Long-Term Warranty Service for Air Conditioner Refurbishment in Office Buildings, Offering Up to 8 Years of Coverage

Key Points of This Press Release

1. Launch of "re:PAir8®", a long-term warranty service for air conditioner refurbishment utilizing IoT technology, for office buildings managed by our company.

2. Extends the warranty period for air conditioning equipment from the typical 1 year to a maximum of 8 years, covering repair costs due to malfunctions during the warranty period free of charge.

3. Streamlines repair procedures by omitting estimates and contract processes, enabling prompt responses and reducing the management burden of facility operations.

Nomura Real Estate Partners Co., Ltd. (Minato-ku, Tokyo / President and Representative Director: Kazuhiro Tomida, hereinafter "the Company") is pleased to announce the full-scale launch of its long-term warranty service for air conditioner refurbishment using IoT technology, "re:PAir8®" (Note 1, hereinafter "the Service").

Note 1: Trademark name: re:PAir8 ® / Registration No.: 7057665

1. Background of Service Development

Air conditioning equipment, which supports a comfortable indoor environment, is a crucial piece of infrastructure in office buildings. It is indispensable for improving the productivity and maintaining the health of workers, as well as ensuring the comfort of visitors.

However, air conditioner malfunctions often occur unexpectedly, and the resulting sudden repair costs pose a significant challenge, potentially impacting business financial planning. In cases requiring high-cost repairs, companies may be forced to secure funds or revise other expenditure plans, leading to a considerable financial burden.

Furthermore, when air conditioning equipment malfunctions, it requires a significant amount of time and effort to confirm the issue on-site, investigate the cause, coordinate schedules with repair contractors, and complete contractual procedures. This can complicate the repair process and make prompt action difficult.

To address these needs, the Company has developed this service based on approximately 50 years of building management experience, aiming to provide long-term peace of mind to our customers and reduce running costs and management burden.

2. Overview of the Service

(1) Reduced Maintenance Costs through 8-Year Equipment Warranty

The typical warranty period for air conditioning equipment is 1 year. If an abnormality occurs after the second year, paid repair work (for equipment malfunctions) is required. With this service, by performing air conditioner refurbishment, we have achieved a maximum 8-year equipment warranty.

Annual maintenance costs for air conditioning equipment can be divided into costs for equipment malfunction repairs and inspection/maintenance costs. This service contributes to reducing maintenance costs by making repairs for equipment malfunctions during the warranty period free of charge. Specifically, repairs for high costs, such as air conditioner compressor repairs and air conditioner inverter replacements, are also covered free of charge.

By covering the often-variable costs of equipment malfunction repairs free of charge, we contribute to the equalization of annual maintenance costs, making future cost predictions for building ownership and operation easier. For customers, this leads to a reduction in the risk of unexpected expenses and the realization of stable facility operations.

(2) Simplified Repair Procedures and Prompt Response to Equipment Abnormalities

For air conditioner refurbishment, we establish a constant monitoring system by linking a remote monitoring center with IoT devices installed in the air conditioning equipment. The remote monitoring center monitors the operating status of the equipment 24 hours a day, 365 days a year. If an abnormality is detected by the IoT devices installed in the air conditioning equipment, a service engineer will be dispatched urgently to conduct an on-site inspection.

Additionally, for abnormalities occurring during the warranty period, prompt response is possible by omitting procedures such as estimates and contracts. This simplifies the repair response flow and contributes to reducing the burden on facility managers.

(3) Free Refrigerant Inspection

Managers of equipment subject to the Act on Rationalizing Energy Consumption of Retail Business, such as commercial air conditioners, are obligated to conduct refrigerant inspections. Due to the legal amendment in August 2022, remote monitoring via a constant monitoring system has been recognized as an alternative to simplified inspections. Therefore, through the remote monitoring in this service, we will provide free simplified and periodic refrigerant inspections.

[Target of This Service]

- The service is available for office buildings managed by our company, for properties that we determine can be provided with the service after a preliminary survey conducted before contract.

- The service can only be used during the management contract period with our company.

- The outdoor unit, indoor unit, standard panel, and standard remote control are covered by the warranty.

We will continue to address various social issues related to management services head-on and strive to be the best partner that provides "safety, security," and "comfort" to our customers.