ITOCHU Announces a Capital and Business Tie-up with Paraca Inc.
August 26, 2021
ITOCHU Corporation (headquartered in Minato-ku, Tokyo; Keita Ishii, President & COO; hereinafter "ITOCHU") announced today that ITOCHU has a capital and business tie-up with Paraca Inc. (headquartered in Minato-ku, Tokyo; Ryo Naito, President; hereinafter "Paraca"), a parking lot operator and manager. Taking this opportunity, ITOCHU will bolster the collaborative relationship through the shared use of the abundant realty information and business know-how held by Paraca to enhance the value chain for construction & realty business.
As an advantage that its competitors lack, Paraca has expanded the size of operating assets, focusing on the acquisition of land for self-owned and operated parking lots, in addition to leased parking lots. Paraca plays a role in the transportation infrastructure in many communities, operating these two types of parking lots for more than 30,000 cars in 44 prefectures of Japan.
Two companies will contribute to eliminating the shortage of parking lots in Japan, while satisfying the diversifying needs of realty owners, and will create a new business opportunity with Paraca's information network of realty owners and others around Japan and its track record in parking lot operations, combined with ITOCHU's rich management resources and know-how.
Outline of Paraca Inc.
| Corporate name | Paraca Inc. |
|---|---|
| Headquarters | 2-5-1 Atago, Minato-ku, Tokyo |
| Established | August 1997 |
| Representative | Ryo Naito, President |
| Business description | Parking management, parking operation, and asset management |
| URL | https://www.paraca.co.jp/ (Japanese) |