Meitoyo Enterprise <8927> announced that it has acquired a development site located in Jingumae, Shibuya-ku, Tokyo on the 20th.

The property is a 10-minute walk from Gaienmae Station on the Tokyo Metro Ginza Line, with the nearby National Stadium and Meiji Jingu Gaien. The convenience of the city center and a good living environment coexist. The site area is 155.04 square meters (official register). It is planned to be offered as part of the company's rental apartment development business brand 'ELFARO (El Faro) series ' (tentatively) EL FARO Jingumae 4'.

The purchase price is less than 30% of the consolidated net assets as of the end of the company's fiscal year ending July 2024. There are no capital relationships, personal relationships, or business relationships that should be disclosed between the company and the seller.