Land Sale Agreement Concluded for Post-Use Development of the 20th Asian Games Athletes' Village

The member companies of the business group represented by Chubu Electric Power (hereinafter referred to as "the Business Group") entered into a land sale agreement with conditions precedent (hereinafter referred to as the "Land Sale Agreement") with Aichi Prefecture and Nagoya City (hereinafter collectively referred to as "the Prefecture and City") on October 10, 2025, concerning the post-use development of the Athletes' Village for the 20th Asian Games. Subsequently, resolutions were passed by the Aichi Prefectural Assembly and the Nagoya City Assembly, and the member companies completed the payment of their contract deposits. We hereby announce that the Land Sale Agreement has now formally taken effect.

The Business Group signed a basic agreement with the Prefecture and City in February 2022 (announced on February 3, 2022) and a basic plan agreement in August of the same year (announced on August 31, 2022).

In December 2024, following the decision by the Aichi-Nagoya Asian Games and Asian Para Games Organizing Committee to cancel the planned development of the Athletes' Village for the 20th Asian Games on the former Nagoya Racecourse site, discussions were held with the Prefecture and City to partially revise the basic plan. As a result, a land sale contract has now been concluded.

In addition to arranging facilities aligned with the themes of "liveliness," "residence," "relaxation," and "learning" outlined in the project's basic concept, the Business Group will pursue its unique "Wellness Association" concept. This aims to foster a community where diverse people connect, support each other, solve social issues, and cultivate happiness together. The Business Group will continue collaborating with the Prefecture and City to advance the project toward the town opening scheduled for around 2029.

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