Hong Kong company acquires 33 hectares of land in Kutchan to develop food and product sales business

[Kutchan] Hong Kong-based food wholesaler, retailer, and real estate developer Golden Resources Development International will substantially acquire approximately 33 hectares of land in the Hirafu district of Kutchan, Shiribeshi. On the 3rd, I found out that I signed a contract. It seems that the policy is to develop new businesses related to food and product sales for tourists and resort workers in the Niseko area.

According to the company’s disclosure materials, on May 31, the company signed a contract to acquire the shares of a company that owns real estate in the Niseko area for more than 3.4 billion yen. The acquisition includes 133 parcels of land owned by the operator, mainly in the Hirafu district, totaling 32.6 hectares.

Regarding business development in the Niseko area, the company has set up “retailtainment” that fuses retail and entertainment, and said, “We want to provide high-quality products and services by making use of our experience in food service and retail.” At this point in time, no specific business details or schedule has been disclosed.

Golden Co., Ltd. is a Hong Kong-listed company that engages in the wholesale of rice and other products, the real estate investment business, and the convenience store business in Vietnam. Total revenue for the fiscal year ending March 2023 was HK$2,059.77 million (approximately ¥38 billion).