Group Initiatives


Adapting to the New Normal as Society Changes with the COVID-19 Pandemic

Hiroaki Hoshino

New Lifestyle Creation Responding to the Arrival of the Digital Society

Hiroaki Hoshino

Operating Officer and Director,
Tokyu Fudosan Holdings Corporation

The impact of the COVID-19 pandemic is giving rise to major changes in values with respect to distance, location and time. With the widespread adoption of telework and e-commerce, the digitalization of all manner of transactions will surely progress going forward, including movements towards deregulation. While differentiation between the use of online and offline methods progresses, both for individuals and organizations, I think that a fusion will also progress.

Recently, there has been an increase in the number of media reports regarding the state of office usage and changes in demand in due to the spread of telework. I think that the role of offices as places offering chance realizations and new ideas, and for increasing employee engagement will become more clear, and that this process will also generate new demand. Moving forward, I think that workplaces will become more diverse and differentiated according to people's various job types and lifestyles, falling into categories such as company, home, co-working space and resort. The Tokyu Fudosan Holdings Group has offered its Business-Airport membership-based satellite office service from an early stage. We believe that identifying this kind of new demand and continuing to offer new and improved versions of conventional offices to match changes is part of our role as a developer.

In terms of changes in the post-COVID era, we predict trends such as an increase in demand for working from home, and the digitalization of all manner of consumer behaviors. In each of our business segments, during the pandemic, we are seeking to strike a balance between precautionary measures against infection and maintaining business continuity, and working to provide new products and services as we regard these changes as a business opportunity. Since before the pandemic, e-commerce in the retail sector has expanded year by year. Now the digitalization of consumer behaviors such as experiential and extraordinary consumption which were previously completed primarily in reality is progressing, and the boundaries for customers between online and offline are now being removed. Moving forward, we will accelerate the pace of initiatives in our various businesses that respond to these kinds of changes in values and lifestyles.

In this modern society, where importance is placed on diversity and individuality, I think that the arrival of this full-blown digital society will make it easier for people to achieve lifestyles in which they can stay true to themselves. As the Group with extensive contact points with customers, I hope that we can support people in living lives that suit them in fields such as home, work and play, and link this to the creation of new lifestyles by understanding individual consumers.

Moreover, as the Group is involved with diverse assets, until now we have aimed to increase the value of real spaces, areas and communities. Even as digitalization progresses, this major direction will remain unchanged.

By utilizing digital technologies to increase convenience and user experience (UX) for customers, we aim to maximize the value of related assets and contribute to creating appealing urban lifestyles.

Predicted Social Changes and Related Businesses

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Trend Transformation/change in behavior Main related businesses
Irreversible spread of telework
  • Firm establishment of telework and online meetings
  • System design and assessment systems to respond to telework
  • Change in required functions and roles of offices
  • Urban development (office buildings, shared offices)
  • Residential
  • Wellness (hotels and resorts)
Growing stay-at-home demand / Improvement of health awareness
  • Decrease in commuting, increase in time spent working at home
  • Increase in time spent exercising
  • Residential
  • Property management
  • Wellness (healthcare)
Digitalization of all kinds of consumer behavior
  • Irreversible spread of e-commerce
  • Digitalization and shift to online sources for extraordinary consumption
  • Increase in Internet use and online interaction
  • Shift to online transactions and contracts
  • All businesses
    (particularly commercial facilities and logistics facilities)
Spread of remote learning, medical care, etc. / increase in use of data
  • Deregulation, abandonment of old social customs
  • Progress of smart city development
  • Establishment of remote job seeking, and diffusion of online classes
  • Urban development (office buildings, commercial facilities)
  • Residential, property management (renovation)
  • Wellness (healthcare)