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3.5
Conclusion
In this section, I will consider the three Japanese projects from the following points of
view: development process and financial work, physical planning, and marketing and
managing.
First, regarding the development process and financial arrangement, some types of
partnership were involved in all three projects. Before the discussion of partnership, it is useful
to clarify the status of the EJR. As described in Section 3.1, the EJR was created through the
privatization of the JNR in 1987, and only part of the EJR's stock was transferred from the
national government to private investors. With respect to ownership of its stock, therefore, the
EJR may not be called a public agency in this sense. At the time of privatization in 1987,
however, it was released from restrictions which applied to public agencies and began to be
regulated as other private entities were. After 1987, for instance, the FJR could expand its
business beyond railroad-related activities, while it needs any necessary permissions to
construct buildings which were not required to the JNR before, because it was thought to be an
affiliate of the national government. In this paper, therefore, the EJR is perceived as having
been a private company since it began.
Throughout the three projects, the FJR formed a good relationship with public agencies
and other private entities. Table 3.5 shows each party's role. More critical partnerships with
public agencies are found in Metropolitan Plaza and the Oimachi Station Building. In the
Metropolitan Plaza project, Toshima Ward prevented the project from leaving small adjacent
lots undeveloped, by requiring the developer to merge the small lots in exchange for permission
to demolish a narrow street. Although the Ward and the Tokyo Metropolitan Government did
not fund the project, they contributed to the success of Metropolitan Plaza through their
guidance and through other projects within the West Ikebukuro area. On the other hand, in the
case of the OSB, Shinagawa Ward not only worked together with the EJR on the planning but
also funded the project. In addition, in the sense that the Ministry of Construction created the
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