Mitsui Fudosan Backs Space Industry

Akihabara News (Tokyo) — Major real estate developer Mitsui Fudosan is creating a hub for Japan’s space industry in the Nihonbashi district of central Tokyo.

The company has outlined its plans for what it calls Cross U, which will aim to help space-related private firms and universities to form networks and to share information.

Mitsui Fudosan President and CEO Masanobu Komoda explained at a press briefing that “it is important for industry, government, and academia to work without barriers, rather than companies working alone… Through the development of the space industry, we will strengthen Japan’s industrial strength and lead the way toward resolution of global issues.”

An agreement has been signed with Japan Aerospace Exploration Agency (JAXA) by which it will actively participate and support activities at Cross U.

About two hundred companies and organizations are expected to become Cross U members within five years

In April, the X-Nihonbashi Base will be opened within the Tokyo Nihonbashi IT Building. This facility will serve as a co-working and event space, and it will include a bar lounge. JAXA and some space industry startups will set up offices within this facility.

Cross U is chaired by Shinichi Nakasuka, professor of the Graduate School of Engineering at the University of Tokyo.

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