: Classifieds : MyJU :
Stories: News
Browse News Stories: « Previous Story | Next Story »

Computown Expected to be Saving Angel for Korinza Mall

By: KC

Date Posted: 2001-02-23

Korinza Shopping Center in Okinawa City has been in serious financial difficulties and lacking of stable tenants almost ever since the facility opened four years ago. The mall is run by Okinawa City Amenity Plan Co., a so called third sector enterprise of Okinawa City, and it has been looking for a main tenant that the city officials hope will save it from liquidation crisis. Finally, the officials managed to reach a formal agreement with a giant electronics retailing company, Best Denki Co., on January 24.

Korinza has been closed since Jan. 1, with promises to public that it will reopen in mid-March with some big and stable tenants. According to officials, Best Denki Co., which has its head office in Fukuoka prefecture, has reached an agreement to open a new Computown outlet in the mall. Computown is a fully owned subsidiary of best Denki Co., which operates computer and software shops throughout the Southern prefectures of Japan. Currently, Computown operates four shops in Okinawa. According to the contract, the new shop in Korinza will cover around 1300 square meters of floor space, making it the largest computer store in Okinawa Prefecture. Okinawa City Amenity Plan Co. is conducting publicity activities using this contract in hopes that the Computown store will attract other tenants into Korinza. The new shop is scheduled to open mid-March.

Korinza has been run by Okinawa City Amenity Plan Co. (Okinawa city is the top stock holder in this shopping center) since 1998. The president of AP is Masakazu Nakasone, who also is the Mayor of Okinawa City, and the directors of Best Denki Co. inked the formal contract in Okinawa on Jan. 24. Accortding to the contract, Computown will be the main tenant of the Korinza Mall, with its shop covering about a quarter of the mallís total area.

The construction work inside of the shopping center has been started in order to finish the remodeling by the scheduled opening day.

Still, even with the giant computer shop as a main tenant, doubts linger about the future success of the mall. The new store will cover only 25% of the total area and that is not nearly enough to make the mall a viable business. The managers of Korinza still chase after stable would-be tenants; it needs more tenants in order to persuade the City and local banks to provide more funds, which they are reluctant to do unless the future financial health of Korinza is secured.

The public already knows that AP has been facing serious financial difficulties. According to the balance sheet prepared by AP, the mall needs tenants to occupy 60 % of the total floor area in order to make the bottom line. In other words, if the shopping center manages to attract stable paying tenants to 60 % of the total floor space, the AP staff is convinced that they can get financial aid from the City and banks.

At present, AP is making strenuous continuing efforts to secure the needed tenants before the scheduled opening day of the new Computown.

Browse News Stories: « Previous Story | Next Story »

weather currency health and beauty restaurants Yellowpages JU Blog

OkistyleJU FacebookOkistyle

Go to advertising PDF?||?|o?L?qAE?|?}?OA?N?ga`OkiStyle?A??q?qM?oeu^?I`??N?gX?<eth>?<ETH>?ni^?IWanted!!Golden Kings ScheduleOkiNightSeeker